MAFE: what changed
Two financial 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.
MAFE
Largest movements
- Tangible fixed assets +€28,920
up €28,920 (+109.4%), from €26,438 to €55,358
of which Furniture and vehicles: +€29,195
- Receivables within one year +€2,902
up €2,902 (+194.1%), from €1,495 to €4,396
of which Other amounts receivable: +€3,478
- Cash -€2,412
down €2,412 (-98.5%), from €2,448 to €37
mainly Investment in fixed assets (net) (-€34,915) and Receivables within one year (-€2,902)
- Other debts +€24,648
up €24,648 (+36.7%), from €67,108 to €91,756
- Profit (loss) carried forward +€4,764
up €4,764 (+6.5%), from -€72,885 to -€68,121
- Tax, wage and social debts -€1,795
down €1,795 (-76.4%), from €2,350 to €555
- Trade debts +€1,725
up €1,725 (+5937.7%), from €29 to €1,754
- Gross operating margin +€3,759
up €3,759 (+37.2%), from €10,105 to €13,864
- Depreciation +€1,039
up €1,039 (+21.0%), from €4,957 to €5,995
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,935 | €60,277 | +€29,342 | +94.9% |
| Fixed assets | 21/28 | €26,559 | €55,479 | +€28,920 | +108.9% |
| Tangible fixed assets | 22/27 | €26,438 | €55,358 | +€28,920 | +109.4% |
| Land and buildings | 22 | €26,438 | €26,163 | -€275 | -1.0% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €29,195 | +€29,195 | |
| Financial fixed assets | 28 | €121 | €121 | = | 0.0% |
| Current assets | 29/58 | €4,376 | €4,798 | +€423 | +9.7% |
| Amounts receivable within one year | 40/41 | €1,495 | €4,396 | +€2,902 | +194.1% |
| Trade receivables | 40 | €1,495 | €918 | -€577 | -38.6% |
| Other amounts receivable | 41 | €0 | €3,478 | +€3,478 | |
| Cash at bank and in hand | 54/58 | €2,448 | €37 | -€2,412 | -98.5% |
| Deferred charges and accrued income | 490/1 | €433 | €365 | -€68 | -15.6% |
| Total equity and liabilities | 10/49 | €30,935 | €60,277 | +€29,342 | +94.9% |
| Equity | 10/15 | -€38,552 | -€33,788 | +€4,764 | +12.4% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €3,347 | €3,347 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Tax-exempt reserves | 132 | €248 | €248 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,885 | -€68,121 | +€4,764 | +6.5% |
| Amounts payable | 17/49 | €69,487 | €94,065 | +€24,578 | +35.4% |
| Amounts payable within one year | 42/48 | €69,487 | €94,065 | +€24,578 | +35.4% |
| Trade debts | 44 | €29 | €1,754 | +€1,725 | +5937.7% |
| Suppliers | 440/4 | €29 | €1,754 | +€1,725 | +5937.7% |
| Taxes, remuneration and social security | 45 | €2,350 | €555 | -€1,795 | -76.4% |
| Taxes | 450/3 | €2,350 | €555 | -€1,795 | -76.4% |
| Other amounts payable | 47/48 | €67,108 | €91,756 | +€24,648 | +36.7% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,957 | €5,995 | +€1,039 | +21.0% |
| Other operating charges | 640/8 | €2,694 | €2,822 | +€128 | +4.8% |
| Non-recurring operating charges | 66A | €701 | €200 | -€501 | -71.5% |
| Gross operating margin | 9900 | €10,105 | €13,864 | +€3,759 | +37.2% |
| Operating profit (loss) | 9901 | €1,754 | €4,847 | +€3,093 | +176.4% |
| Financial income | 75/76B | - | €6 | +€6 | |
| Recurring financial income | 75 | - | €6 | +€6 | |
| Financial charges | 65/66B | €117 | €88 | -€29 | -24.8% |
| Recurring financial charges | 65 | €117 | €88 | -€29 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €1,636 | €4,764 | +€3,128 | +191.2% |
| Income taxes | 67/77 | €109 | - | -€109 | |
| Profit (loss) for the period | 9904 | €1,527 | €4,764 | +€3,237 | +212.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,527 | €4,764 | +€3,237 | +212.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.