MAFEC: 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.
MAFEC
Largest movements
- Cash +€700,959
up €700,959 (+2725.4%), from €25,719 to €726,679
mainly Net result for the year (+€374,741) and Investment in fixed assets (net) (+€175,011)
- Tangible fixed assets -€175,011
no longer reported in 2025 (was €175,011)
- Reserves +€297,000
new in 2025: €297,000
- Tax, wage and social debts +€148,700
new in 2025: €148,700
- Profit (loss) carried forward +€77,741
up €77,741, from -€76,462 to €1,279
- Gross operating margin +€526,279
up €526,279 (+311610.5%), from €169 to €526,448
- Taxes +€148,700
new in 2025: €148,700
- Depreciation -€6,756
no longer reported in 2025 (was €6,756)
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 | €201,330 | €726,679 | +€525,349 | +260.9% |
| Fixed assets | 21/28 | €175,011 | - | -€175,011 | |
| Tangible fixed assets | 22/27 | €175,011 | - | -€175,011 | |
| Land and buildings | 22 | €175,011 | - | -€175,011 | |
| Current assets | 29/58 | €26,319 | €726,679 | +€700,359 | +2661.0% |
| Cash at bank and in hand | 54/58 | €25,719 | €726,679 | +€700,959 | +2725.4% |
| Deferred charges and accrued income | 490/1 | €600 | - | -€600 | |
| Total equity and liabilities | 10/49 | €201,330 | €726,679 | +€525,349 | +260.9% |
| Equity | 10/15 | -€70,150 | €304,591 | +€374,741 | |
| Contributions | 10/11 | €6,312 | €6,312 | = | 0.0% |
| Reserves | 13 | - | €297,000 | +€297,000 | |
| Distributable reserves | 133 | - | €297,000 | +€297,000 | |
| Profit (loss) carried forward | 14 | -€76,462 | €1,279 | +€77,741 | |
| Amounts payable | 17/49 | €271,480 | €422,087 | +€150,608 | +55.5% |
| Amounts payable within one year | 42/48 | €271,480 | €422,087 | +€150,608 | +55.5% |
| Trade debts | 44 | - | €1,908 | +€1,908 | |
| Suppliers | 440/4 | - | €1,908 | +€1,908 | |
| Taxes, remuneration and social security | 45 | - | €148,700 | +€148,700 | |
| Taxes | 450/3 | - | €148,700 | +€148,700 | |
| Other amounts payable | 47/48 | €271,480 | €271,480 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,756 | - | -€6,756 | |
| Other operating charges | 640/8 | €2,375 | €2,962 | +€587 | +24.7% |
| Gross operating margin | 9900 | €169 | €526,448 | +€526,279 | +311610.5% |
| Operating profit (loss) | 9901 | -€8,962 | €523,486 | +€532,448 | |
| Financial charges | 65/66B | €60 | €45 | -€15 | -25.0% |
| Recurring financial charges | 65 | €60 | €45 | -€15 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,022 | €523,441 | +€532,463 | |
| Income taxes | 67/77 | - | €148,700 | +€148,700 | |
| Profit (loss) for the period | 9904 | -€9,022 | €374,741 | +€383,763 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,022 | €374,741 | +€383,763 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.