Mama Misa Projects: 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.
Mama Misa Projects
Largest movements
- Cash +€54,052
up €54,052 (+1,992%), from €2,714 to €56,766
mainly Net result for the year (+€89,121) and Receivables after one year (+€40,222)
- Receivables within one year +€46,224
up €46,224 (+47.5%), from €97,346 to €143,571
of which Trade receivables: +€45,514
- Receivables after one year -€40,222
no longer reported in 2025 (was €40,222)
- Tangible fixed assets -€37,031
down €37,031 (-7.1%), from €518,068 to €481,037
of which Land and buildings: -€33,481
- Current investments +€10,733
up €10,733 (+39.3%), from €27,316 to €38,049
- Reserves +€49,121
up €49,121 (+16.2%), from €303,907 to €353,028
- Debts after one year -€16,808
down €16,808 (-5.0%), from €333,662 to €316,854
- Other debts +€10,492
up €10,492 (+699%), from €1,500 to €11,992
- Tax, wage and social debts -€8,424
down €8,424 (-27.8%), from €30,343 to €21,919
of which Taxes: -€6,631
- Gross operating margin +€69,213
up €69,213 (+62.5%), from €110,755 to €179,968
- Taxes +€9,541
up €9,541 (+35.0%), from €27,293 to €36,833
- Financial charges +€8,152
up €8,152 (+117%), from €6,993 to €15,145
- Depreciation -€3,271
down €3,271 (-7.6%), from €43,258 to €39,987
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 | €686,935 | €721,536 | +€34,601 | +5.0% |
| Fixed assets | 21/28 | €518,068 | €481,037 | -€37,031 | -7.1% |
| Tangible fixed assets | 22/27 | €518,068 | €481,037 | -€37,031 | -7.1% |
| Land and buildings | 22 | €475,738 | €442,257 | -€33,481 | -7.0% |
| Furniture and vehicles | 24 | €38,202 | €34,652 | -€3,550 | -9.3% |
| Other tangible fixed assets | 26 | €4,128 | €4,128 | = | 0.0% |
| Current assets | 29/58 | €168,866 | €240,499 | +€71,632 | +42.4% |
| Amounts receivable after more than one year | 29 | €40,222 | - | -€40,222 | |
| Other amounts receivable | 291 | €40,222 | - | -€40,222 | |
| Amounts receivable within one year | 40/41 | €97,346 | €143,571 | +€46,224 | +47.5% |
| Trade receivables | 40 | €57,834 | €103,348 | +€45,514 | +78.7% |
| Other amounts receivable | 41 | €39,512 | €40,222 | +€710 | +1.8% |
| Current investments | 50/53 | €27,316 | €38,049 | +€10,733 | +39.3% |
| Cash at bank and in hand | 54/58 | €2,714 | €56,766 | +€54,052 | +1,992% |
| Deferred charges and accrued income | 490/1 | €1,269 | €2,113 | +€845 | +66.6% |
| Total equity and liabilities | 10/49 | €686,935 | €721,536 | +€34,601 | +5.0% |
| Equity | 10/15 | €303,907 | €353,028 | +€49,121 | +16.2% |
| Reserves | 13 | €303,907 | €353,028 | +€49,121 | +16.2% |
| Distributable reserves | 133 | €303,907 | €353,028 | +€49,121 | +16.2% |
| Amounts payable | 17/49 | €383,027 | €368,508 | -€14,520 | -3.8% |
| Amounts payable after more than one year | 17 | €333,662 | €316,854 | -€16,808 | -5.0% |
| Financial debts | 170/4 | €333,662 | €316,854 | -€16,808 | -5.0% |
| Amounts payable within one year | 42/48 | €49,365 | €51,654 | +€2,289 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €16,338 | €16,853 | +€515 | +3.2% |
| Trade debts | 44 | €1,184 | €890 | -€294 | -24.9% |
| Suppliers | 440/4 | €1,184 | €890 | -€294 | -24.9% |
| Taxes, remuneration and social security | 45 | €30,343 | €21,919 | -€8,424 | -27.8% |
| Taxes | 450/3 | €28,550 | €21,919 | -€6,631 | -23.2% |
| Remuneration and social security | 454/9 | €1,793 | - | -€1,793 | |
| Other amounts payable | 47/48 | €1,500 | €11,992 | +€10,492 | +699% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,258 | €39,987 | -€3,271 | -7.6% |
| Other operating charges | 640/8 | €2,347 | €3,424 | +€1,077 | +45.9% |
| Gross operating margin | 9900 | €110,755 | €179,968 | +€69,213 | +62.5% |
| Operating profit (loss) | 9901 | €65,151 | €136,558 | +€71,407 | +110% |
| Financial income | 75/76B | €6,339 | €4,542 | -€1,797 | -28.4% |
| Recurring financial income | 75 | €6,339 | €4,542 | -€1,797 | -28.4% |
| Financial charges | 65/66B | €6,993 | €15,145 | +€8,152 | +117% |
| Recurring financial charges | 65 | €6,993 | €15,145 | +€8,152 | +117% |
| Profit (loss) for the period before taxes | 9903 | €64,496 | €125,954 | +€61,458 | +95.3% |
| Income taxes | 67/77 | €27,293 | €36,833 | +€9,541 | +35.0% |
| Profit (loss) for the period | 9904 | €37,203 | €89,121 | +€51,918 | +140% |
| Transfer from tax-exempt reserves | 789 | €94,725 | - | -€94,725 | |
| Profit (loss) for the period to be appropriated | 9905 | €131,928 | €89,121 | -€42,807 | -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 17 October 2026 via checked.be.