MAMAGRE: 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.
MAMAGRE
Largest movements
- Cash +€15,078
up €15,078 (+2602.5%), from €579 to €15,657
mainly Other debts (+€29,146) and Net result for the year (+€18,227)
- Tangible fixed assets +€4,937
up €4,937 (+9.3%), from €53,331 to €58,268
of which Plant, machinery and equipment: +€4,117
- Other debts +€29,146
up €29,146 (+462.7%), from €6,299 to €35,445
- Debts after one year -€5,837
no longer reported in 2025 (was €5,837)
- Reserves -€5,775
down €5,775 (-14.2%), from €40,678 to €34,903
- Trade debts -€3,449
down €3,449 (-26.3%), from €13,117 to €9,668
- Tax, wage and social debts +€2,648
up €2,648 (+31.7%), from €8,345 to €10,993
of which Taxes: +€4,860
- Staff costs -€18,226
down €18,226 (-14.2%), from €128,196 to €109,970
- Taxes +€5,784
up €5,784 (+181.5%), from €3,187 to €8,970
- Depreciation +€2,056
up €2,056 (+24.2%), from €8,502 to €10,558
- Gross operating margin -€1,764
down €1,764 (-1.2%), from €152,243 to €150,479
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 | €85,131 | €103,408 | +€18,277 | +21.5% |
| Formation expenses | 20 | €773 | €362 | -€411 | -53.1% |
| Fixed assets | 21/28 | €53,694 | €58,631 | +€4,937 | +9.2% |
| Tangible fixed assets | 22/27 | €53,331 | €58,268 | +€4,937 | +9.3% |
| Plant, machinery and equipment | 23 | €1,436 | €5,553 | +€4,117 | +286.6% |
| Furniture and vehicles | 24 | €7,982 | €8,746 | +€764 | +9.6% |
| Other tangible fixed assets | 26 | €43,912 | €43,969 | +€57 | +0.1% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €30,664 | €44,415 | +€13,750 | +44.8% |
| Stocks and contracts in progress | 3 | €15,605 | €15,063 | -€542 | -3.5% |
| Stocks | 30/36 | €15,605 | €15,063 | -€542 | -3.5% |
| Amounts receivable within one year | 40/41 | €13,152 | €12,529 | -€623 | -4.7% |
| Trade receivables | 40 | €764 | - | -€764 | |
| Other amounts receivable | 41 | €12,388 | €12,529 | +€141 | +1.1% |
| Cash at bank and in hand | 54/58 | €579 | €15,657 | +€15,078 | +2602.5% |
| Deferred charges and accrued income | 490/1 | €1,328 | €1,165 | -€163 | -12.2% |
| Total equity and liabilities | 10/49 | €85,131 | €103,408 | +€18,277 | +21.5% |
| Equity | 10/15 | €41,678 | €35,903 | -€5,775 | -13.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €40,678 | €34,903 | -€5,775 | -14.2% |
| Distributable reserves | 133 | €40,678 | €34,903 | -€5,775 | -14.2% |
| Amounts payable | 17/49 | €43,453 | €67,505 | +€24,052 | +55.4% |
| Amounts payable after more than one year | 17 | €5,837 | - | -€5,837 | |
| Financial debts | 170/4 | €5,837 | - | -€5,837 | |
| Amounts payable within one year | 42/48 | €37,502 | €67,388 | +€29,885 | +79.7% |
| Current portion of amounts payable after more than one year | 42 | €9,742 | €11,282 | +€1,540 | +15.8% |
| Trade debts | 44 | €13,117 | €9,668 | -€3,449 | -26.3% |
| Suppliers | 440/4 | €13,117 | €9,668 | -€3,449 | -26.3% |
| Taxes, remuneration and social security | 45 | €8,345 | €10,993 | +€2,648 | +31.7% |
| Taxes | 450/3 | €406 | €5,266 | +€4,860 | +1196.2% |
| Remuneration and social security | 454/9 | €7,939 | €5,726 | -€2,212 | -27.9% |
| Other amounts payable | 47/48 | €6,299 | €35,445 | +€29,146 | +462.7% |
| Accrued charges and deferred income | 492/3 | €114 | €117 | +€3 | +2.8% |
| Remuneration, social security and pensions | 62 | €128,196 | €109,970 | -€18,226 | -14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,502 | €10,558 | +€2,056 | +24.2% |
| Other operating charges | 640/8 | €1,198 | €248 | -€950 | -79.3% |
| Gross operating margin | 9900 | €152,243 | €150,479 | -€1,764 | -1.2% |
| Operating profit (loss) | 9901 | €14,347 | €29,704 | +€15,357 | +107.0% |
| Financial income | 75/76B | €1 | €0 | -€1 | -85.5% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -85.5% |
| Financial charges | 65/66B | €3,232 | €2,507 | -€725 | -22.4% |
| Recurring financial charges | 65 | €3,232 | €2,507 | -€725 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €11,116 | €27,197 | +€16,081 | +144.7% |
| Income taxes | 67/77 | €3,187 | €8,970 | +€5,784 | +181.5% |
| Profit (loss) for the period | 9904 | €7,929 | €18,227 | +€10,297 | +129.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,929 | €18,227 | +€10,297 | +129.9% |
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 6 October 2026 via checked.be.