MAFASON: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MAFASON
Largest movements
- Receivables within one year +€5,039
up €5,039 (+2814.0%), from €179 to €5,218
of which Trade receivables: +€5,218
- Tangible fixed assets -€1,062
down €1,062 (-8.0%), from €13,313 to €12,251
of which Plant, machinery and equipment: -€1,258
- Cash -€226
down €226 (-44.8%), from €505 to €279
mainly Receivables within one year (-€5,039) and Net result for the year (-€3,506)
- Deferred charges and accrued income +€195
up €195 (+64.0%), from €305 to €500
- Debts after one year +€6,477
up €6,477 (+27.9%), from €23,237 to €29,714
- Profit (loss) carried forward -€3,506
down €3,506 (-28.7%), from -€12,199 to -€15,705
- Tax, wage and social debts +€1,318
up €1,318 (+472.1%), from €279 to €1,598
- Trade debts -€343
down €343 (-55.2%), from €621 to €278
- Gross operating margin +€9,000
up €9,000 (+99.6%), from -€9,035 to -€35
- Depreciation +€326
up €326 (+13.3%), from €2,454 to €2,779
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,961 | €18,907 | +€3,946 | +26.4% |
| Fixed assets | 21/28 | €13,613 | €12,551 | -€1,062 | -7.8% |
| Tangible fixed assets | 22/27 | €13,313 | €12,251 | -€1,062 | -8.0% |
| Plant, machinery and equipment | 23 | €4,132 | €2,874 | -€1,258 | -30.4% |
| Furniture and vehicles | 24 | €9,181 | €9,377 | +€196 | +2.1% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €1,348 | €6,356 | +€5,008 | +371.6% |
| Stocks and contracts in progress | 3 | €359 | €359 | = | 0.0% |
| Stocks | 30/36 | €359 | €359 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €179 | €5,218 | +€5,039 | +2814.0% |
| Trade receivables | 40 | - | €5,218 | +€5,218 | |
| Other amounts receivable | 41 | €179 | - | -€179 | |
| Cash at bank and in hand | 54/58 | €505 | €279 | -€226 | -44.8% |
| Deferred charges and accrued income | 490/1 | €305 | €500 | +€195 | +64.0% |
| Total equity and liabilities | 10/49 | €14,961 | €18,907 | +€3,946 | +26.4% |
| Equity | 10/15 | -€9,176 | -€12,682 | -€3,506 | -38.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €2,023 | €2,023 | = | 0.0% |
| Distributable reserves | 133 | €2,023 | €2,023 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,199 | -€15,705 | -€3,506 | -28.7% |
| Amounts payable | 17/49 | €24,137 | €31,590 | +€7,452 | +30.9% |
| Amounts payable after more than one year | 17 | €23,237 | €29,714 | +€6,477 | +27.9% |
| Other amounts payable | 178/9 | €23,237 | €29,714 | +€6,477 | +27.9% |
| Amounts payable within one year | 42/48 | €900 | €1,876 | +€976 | +108.4% |
| Trade debts | 44 | €621 | €278 | -€343 | -55.2% |
| Suppliers | 440/4 | €621 | €278 | -€343 | -55.2% |
| Taxes, remuneration and social security | 45 | €279 | €1,598 | +€1,318 | +472.1% |
| Taxes | 450/3 | €279 | €1,598 | +€1,318 | +472.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,454 | €2,779 | +€326 | +13.3% |
| Other operating charges | 640/8 | €665 | €654 | -€11 | -1.7% |
| Gross operating margin | 9900 | -€9,035 | -€35 | +€9,000 | +99.6% |
| Operating profit (loss) | 9901 | -€12,154 | -€3,468 | +€8,686 | +71.5% |
| Financial charges | 65/66B | €46 | €38 | -€7 | -15.9% |
| Recurring financial charges | 65 | €46 | €38 | -€7 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | -€12,199 | -€3,506 | +€8,693 | +71.3% |
| Profit (loss) for the period | 9904 | -€12,199 | -€3,506 | +€8,693 | +71.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,199 | -€3,506 | +€8,693 | +71.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.