MAFRITRI: 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.
MAFRITRI
Largest movements
- Deferred charges and accrued income +€8,410
up €8,410 (+2503.0%), from €336 to €8,746
- Cash -€5,348
down €5,348 (-29.8%), from €17,969 to €12,621
mainly Deferred charges and accrued income (-€8,410) and Investment in fixed assets (net) (-€3,770)
- Receivables within one year +€2,557
up €2,557 (+149.4%), from €1,712 to €4,269
- Tangible fixed assets +€1,514
up €1,514 (+36.9%), from €4,101 to €5,615
of which Other tangible fixed assets: +€856
- Stocks and contracts -€585
down €585 (-15.8%), from €3,708 to €3,123
- Other debts +€6,044
up €6,044 (+556.5%), from €1,086 to €7,130
- Trade debts +€3,559
up €3,559 (+43.0%), from €8,283 to €11,842
- Profit (loss) carried forward -€3,142
down €3,142 (-64.0%), from €4,907 to €1,765
- Gross operating margin -€12,452
down €12,452 (-57.7%), from €21,585 to €9,133
- Taxes -€3,830
down €3,830 (-84.2%), from €4,550 to €720
- Financial charges +€2,184
up €2,184 (+121.2%), from €1,802 to €3,986
- Staff costs +€1,753
up €1,753 (+63.7%), from €2,750 to €4,503
- Other operating charges -€1,544
down €1,544 (-65.6%), from €2,354 to €810
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 | €27,826 | €34,374 | +€6,548 | +23.5% |
| Fixed assets | 21/28 | €4,101 | €5,615 | +€1,514 | +36.9% |
| Tangible fixed assets | 22/27 | €4,101 | €5,615 | +€1,514 | +36.9% |
| Plant, machinery and equipment | 23 | €514 | €405 | -€109 | -21.2% |
| Furniture and vehicles | 24 | €3,587 | €4,354 | +€767 | +21.4% |
| Other tangible fixed assets | 26 | - | €856 | +€856 | |
| Current assets | 29/58 | €23,725 | €28,759 | +€5,034 | +21.2% |
| Stocks and contracts in progress | 3 | €3,708 | €3,123 | -€585 | -15.8% |
| Stocks | 30/36 | €3,708 | €3,123 | -€585 | -15.8% |
| Amounts receivable within one year | 40/41 | €1,712 | €4,269 | +€2,557 | +149.4% |
| Other amounts receivable | 41 | €1,712 | €4,269 | +€2,557 | +149.4% |
| Cash at bank and in hand | 54/58 | €17,969 | €12,621 | -€5,348 | -29.8% |
| Deferred charges and accrued income | 490/1 | €336 | €8,746 | +€8,410 | +2503.0% |
| Total equity and liabilities | 10/49 | €27,826 | €34,374 | +€6,548 | +23.5% |
| Equity | 10/15 | €15,907 | €12,765 | -€3,142 | -19.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,907 | €1,765 | -€3,142 | -64.0% |
| Amounts payable | 17/49 | €11,919 | €21,609 | +€9,690 | +81.3% |
| Amounts payable within one year | 42/48 | €11,919 | €21,609 | +€9,690 | +81.3% |
| Trade debts | 44 | €8,283 | €11,842 | +€3,559 | +43.0% |
| Suppliers | 440/4 | €8,283 | €11,842 | +€3,559 | +43.0% |
| Taxes, remuneration and social security | 45 | €2,550 | €2,637 | +€87 | +3.4% |
| Taxes | 450/3 | €2,550 | €2,637 | +€87 | +3.4% |
| Other amounts payable | 47/48 | €1,086 | €7,130 | +€6,044 | +556.5% |
| Remuneration, social security and pensions | 62 | €2,750 | €4,503 | +€1,753 | +63.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €965 | €2,256 | +€1,291 | +133.8% |
| Other operating charges | 640/8 | €2,354 | €810 | -€1,544 | -65.6% |
| Gross operating margin | 9900 | €21,585 | €9,133 | -€12,452 | -57.7% |
| Operating profit (loss) | 9901 | €15,516 | €1,564 | -€13,952 | -89.9% |
| Financial income | 75/76B | €74 | - | -€74 | |
| Recurring financial income | 75 | €74 | - | -€74 | |
| Financial charges | 65/66B | €1,802 | €3,986 | +€2,184 | +121.2% |
| Recurring financial charges | 65 | €1,802 | €3,986 | +€2,184 | +121.2% |
| Profit (loss) for the period before taxes | 9903 | €13,788 | -€2,422 | -€16,210 | |
| Income taxes | 67/77 | €4,550 | €720 | -€3,830 | -84.2% |
| Profit (loss) for the period | 9904 | €9,238 | -€3,142 | -€12,380 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,238 | -€3,142 | -€12,380 |
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 2 October 2026 via checked.be.