MAFRA IMMO: 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.
MAFRA IMMO
Largest movements
- Financial fixed assets -€450,000
no longer reported in 2025 (was €450,000)
- Current investments +€200,000
new in 2025: €200,000
- Receivables within one year +€49,867
up €49,867 (+445%), from €11,215 to €61,082
of which Other amounts receivable: +€55,582
- Tangible fixed assets -€23,298
down €23,298 (-5.3%), from €441,082 to €417,784
of which Land and buildings: -€25,570
- Cash +€17,351
up €17,351 (+273%), from €6,351 to €23,702
mainly Investment in fixed assets (net) (+€447,160) and Net result for the year (+€33,965)
- Other debts -€172,071
down €172,071 (-95.0%), from €181,195 to €9,125
- Debts after one year -€65,248
down €65,248 (-15.9%), from €410,251 to €345,003
- Reserves +€33,000
up €33,000 (+57.4%), from €57,479 to €90,479
of which Distributable reserves: +€33,000
- Purchases and services -€187,789
no longer reported in 2025 (was €187,789)
- Gross operating margin +€34,346
up €34,346 (+50.0%), from €68,759 to €103,106
- Staff costs +€18,358
new in 2025: €18,358
- Taxes +€8,172
up €8,172 (+103%), from €7,947 to €16,118
- Financial charges -€1,303
down €1,303 (-15.1%), from €8,624 to €7,321
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.
Derived cash bridge
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 | €908,647 | €702,568 | -€206,080 | -22.7% |
| Fixed assets | 21/28 | €891,082 | €417,784 | -€473,298 | -53.1% |
| Tangible fixed assets | 22/27 | €441,082 | €417,784 | -€23,298 | -5.3% |
| Land and buildings | 22 | €441,082 | €415,512 | -€25,570 | -5.8% |
| Plant, machinery and equipment | 23 | - | €2,272 | +€2,272 | |
| Financial fixed assets | 28 | €450,000 | - | -€450,000 | |
| Current assets | 29/58 | €17,566 | €284,784 | +€267,218 | +1,521% |
| Amounts receivable within one year | 40/41 | €11,215 | €61,082 | +€49,867 | +445% |
| Trade receivables | 40 | €5,715 | - | -€5,715 | |
| Other amounts receivable | 41 | €5,500 | €61,082 | +€55,582 | +1,011% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €6,351 | €23,702 | +€17,351 | +273% |
| Total equity and liabilities | 10/49 | €908,647 | €702,568 | -€206,080 | -22.7% |
| Equity | 10/15 | €197,465 | €231,430 | +€33,965 | +17.2% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Capital | 10 | - | €24,789 | +€24,789 | |
| Issued capital | 100 | - | €24,789 | +€24,789 | |
| Contributions outside capital | 11 | €24,789 | - | -€24,789 | |
| Other | 1109/19 | €24,789 | - | -€24,789 | |
| Reserves | 13 | €57,479 | €90,479 | +€33,000 | +57.4% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Legal reserve | 130 | €2,479 | - | -€2,479 | |
| Reserves not available under the articles | 1311 | - | €2,479 | +€2,479 | |
| Distributable reserves | 133 | €55,000 | €88,000 | +€33,000 | +60.0% |
| Profit (loss) carried forward | 14 | €115,197 | €116,162 | +€965 | +0.8% |
| Amounts payable | 17/49 | €711,182 | €471,137 | -€240,044 | -33.8% |
| Amounts payable after more than one year | 17 | €410,251 | €345,003 | -€65,248 | -15.9% |
| Financial debts | 170/4 | €410,251 | €345,003 | -€65,248 | -15.9% |
| Amounts payable within one year | 42/48 | €300,931 | €126,135 | -€174,797 | -58.1% |
| Current portion of amounts payable after more than one year | 42 | €66,308 | €65,250 | -€1,058 | -1.6% |
| Trade debts | 44 | €1,348 | €1,885 | +€537 | +39.8% |
| Suppliers | 440/4 | €1,348 | €1,885 | +€537 | +39.8% |
| Taxes, remuneration and social security | 45 | €52,080 | €49,875 | -€2,205 | -4.2% |
| Taxes | 450/3 | €52,080 | €49,875 | -€2,205 | -4.2% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €181,195 | €9,125 | -€172,071 | -95.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €187,789 | - | -€187,789 | |
| Remuneration, social security and pensions | 62 | - | €18,358 | +€18,358 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,570 | €26,138 | +€568 | +2.2% |
| Other operating charges | 640/8 | €968 | €1,205 | +€238 | +24.6% |
| Gross operating margin | 9900 | €68,759 | €103,106 | +€34,346 | +50.0% |
| Operating profit (loss) | 9901 | €42,222 | €57,404 | +€15,182 | +36.0% |
| Financial income | 75/76B | €0 | €0 | +€0 | +1,900% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +1,900% |
| Financial charges | 65/66B | €8,624 | €7,321 | -€1,303 | -15.1% |
| Recurring financial charges | 65 | €8,624 | €7,321 | -€1,303 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €33,598 | €50,083 | +€16,485 | +49.1% |
| Income taxes | 67/77 | €7,947 | €16,118 | +€8,172 | +103% |
| Profit (loss) for the period | 9904 | €25,651 | €33,965 | +€8,314 | +32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,651 | €33,965 | +€8,314 | +32.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.