MAFREDSTA: 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.
MAFREDSTA
Largest movements
- Cash -€8,609
down €8,609 (-15.8%), from €54,380 to €45,771
mainly Trade debts (-€18,592) and Debts after one year (-€11,952)
- Reserves +€25,369
up €25,369 (+24.8%), from €102,203 to €127,573
of which Distributable reserves: +€25,369
- Trade debts -€18,592
down €18,592 (-89.9%), from €20,673 to €2,081
- Debts after one year -€11,952
down €11,952 (-7.4%), from €161,651 to €149,699
- Gross operating margin +€30,315
up €30,315 (+190%), from €15,952 to €46,267
- Taxes +€8,050
up €8,050 (+286%), from €2,816 to €10,866
- Financial charges +€1,109
up €1,109 (+19.9%), from €5,575 to €6,683
- Depreciation -€604
down €604 (-19.9%), from €3,031 to €2,427
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 | €321,548 | €319,205 | -€2,344 | -0.7% |
| Fixed assets | 21/28 | €255,806 | €259,005 | +€3,199 | +1.3% |
| Tangible fixed assets | 22/27 | €5,806 | €9,005 | +€3,199 | +55.1% |
| Plant, machinery and equipment | 23 | €3,052 | €2,297 | -€755 | -24.7% |
| Furniture and vehicles | 24 | €2,754 | €6,708 | +€3,954 | +144% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €65,742 | €60,200 | -€5,542 | -8.4% |
| Amounts receivable within one year | 40/41 | €10,083 | €11,754 | +€1,671 | +16.6% |
| Trade receivables | 40 | €10,083 | €10,083 | = | 0.0% |
| Other amounts receivable | 41 | €0 | €1,671 | +€1,671 | |
| Cash at bank and in hand | 54/58 | €54,380 | €45,771 | -€8,609 | -15.8% |
| Deferred charges and accrued income | 490/1 | €1,278 | €2,674 | +€1,396 | +109% |
| Total equity and liabilities | 10/49 | €321,548 | €319,205 | -€2,344 | -0.7% |
| Equity | 10/15 | €114,603 | €139,973 | +€25,369 | +22.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €102,203 | €127,573 | +€25,369 | +24.8% |
| Non-distributable reserves | 130/1 | €2,156 | €2,156 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,156 | €2,156 | = | 0.0% |
| Distributable reserves | 133 | €100,047 | €125,417 | +€25,369 | +25.4% |
| Amounts payable | 17/49 | €206,945 | €179,232 | -€27,713 | -13.4% |
| Amounts payable after more than one year | 17 | €161,651 | €149,699 | -€11,952 | -7.4% |
| Other amounts payable | 178/9 | €161,651 | €149,699 | -€11,952 | -7.4% |
| Amounts payable within one year | 42/48 | €45,216 | €29,475 | -€15,741 | -34.8% |
| Current portion of amounts payable after more than one year | 42 | €10,741 | €11,093 | +€353 | +3.3% |
| Trade debts | 44 | €20,673 | €2,081 | -€18,592 | -89.9% |
| Suppliers | 440/4 | €20,673 | €2,081 | -€18,592 | -89.9% |
| Taxes, remuneration and social security | 45 | €5,677 | €8,121 | +€2,445 | +43.1% |
| Taxes | 450/3 | €5,677 | €8,121 | +€2,445 | +43.1% |
| Other amounts payable | 47/48 | €8,126 | €8,179 | +€53 | +0.7% |
| Accrued charges and deferred income | 492/3 | €77 | €58 | -€20 | -25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,031 | €2,427 | -€604 | -19.9% |
| Other operating charges | 640/8 | €669 | €922 | +€253 | +37.9% |
| Gross operating margin | 9900 | €15,952 | €46,267 | +€30,315 | +190% |
| Operating profit (loss) | 9901 | €12,252 | €42,918 | +€30,666 | +250% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €5,575 | €6,683 | +€1,109 | +19.9% |
| Recurring financial charges | 65 | €5,575 | €6,683 | +€1,109 | +19.9% |
| Profit (loss) for the period before taxes | 9903 | €6,677 | €36,235 | +€29,558 | +443% |
| Income taxes | 67/77 | €2,816 | €10,866 | +€8,050 | +286% |
| Profit (loss) for the period | 9904 | €3,861 | €25,369 | +€21,508 | +557% |
| Profit (loss) for the period to be appropriated | 9905 | €3,861 | €25,369 | +€21,508 | +557% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.