MAMAK: 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.
MAMAK
Largest movements
- Receivables within one year +€23,321
up €23,321 (+324.7%), from €7,182 to €30,502
of which Trade receivables: +€22,446
- Cash -€9,891
down €9,891 (-23.9%), from €41,437 to €31,546
mainly Receivables within one year (-€23,321) and Net result for the year (-€19,787)
- Tangible fixed assets +€1,613
up €1,613 (+21.3%), from €7,574 to €9,187
of which Plant, machinery and equipment: +€1,947
- Deferred charges and accrued income -€913
down €913 (-43.3%), from €2,108 to €1,195
- Provisions +€35,800
new in 2025: €35,800
- Profit (loss) carried forward -€19,787
down €19,787 (-38.5%), from €51,444 to €31,657
- Tax, wage and social debts -€2,155
down €2,155 (-40.4%), from €5,331 to €3,177
- Provisions +€35,800
new in 2025: €35,800
- Gross operating margin -€7,129
down €7,129 (-24.1%), from €29,603 to €22,474
- Taxes -€1,742
down €1,742 (-27.3%), from €6,376 to €4,634
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 | €58,301 | €72,431 | +€14,130 | +24.2% |
| Fixed assets | 21/28 | €7,574 | €9,187 | +€1,613 | +21.3% |
| Tangible fixed assets | 22/27 | €7,574 | €9,187 | +€1,613 | +21.3% |
| Plant, machinery and equipment | 23 | €6,928 | €8,876 | +€1,947 | +28.1% |
| Furniture and vehicles | 24 | €646 | €311 | -€334 | -51.8% |
| Current assets | 29/58 | €50,727 | €63,244 | +€12,517 | +24.7% |
| Amounts receivable within one year | 40/41 | €7,182 | €30,502 | +€23,321 | +324.7% |
| Trade receivables | 40 | €5,506 | €27,951 | +€22,446 | +407.7% |
| Other amounts receivable | 41 | €1,676 | €2,551 | +€875 | +52.2% |
| Cash at bank and in hand | 54/58 | €41,437 | €31,546 | -€9,891 | -23.9% |
| Deferred charges and accrued income | 490/1 | €2,108 | €1,195 | -€913 | -43.3% |
| Total equity and liabilities | 10/49 | €58,301 | €72,431 | +€14,130 | +24.2% |
| Equity | 10/15 | €52,944 | €33,157 | -€19,787 | -37.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,444 | €31,657 | -€19,787 | -38.5% |
| Provisions and deferred taxes | 16 | - | €35,800 | +€35,800 | |
| Provisions for liabilities and charges | 160/5 | - | €35,800 | +€35,800 | |
| Environmental obligations | 163 | - | €35,800 | +€35,800 | |
| Amounts payable | 17/49 | €5,357 | €3,474 | -€1,883 | -35.1% |
| Amounts payable within one year | 42/48 | €5,357 | €3,474 | -€1,883 | -35.1% |
| Trade debts | 44 | - | €297 | +€297 | |
| Suppliers | 440/4 | - | €297 | +€297 | |
| Taxes, remuneration and social security | 45 | €5,331 | €3,177 | -€2,155 | -40.4% |
| Taxes | 450/3 | €5,331 | €3,177 | -€2,155 | -40.4% |
| Other amounts payable | 47/48 | €25 | - | -€25 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €958 | €1,242 | +€284 | +29.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €35,800 | +€35,800 | |
| Other operating charges | 640/8 | €613 | €586 | -€27 | -4.5% |
| Gross operating margin | 9900 | €29,603 | €22,474 | -€7,129 | -24.1% |
| Operating profit (loss) | 9901 | €28,032 | -€15,153 | -€43,185 | |
| Financial charges | 65/66B | €114 | - | -€114 | |
| Recurring financial charges | 65 | €114 | - | -€114 | |
| Profit (loss) for the period before taxes | 9903 | €27,918 | -€15,153 | -€43,071 | |
| Income taxes | 67/77 | €6,376 | €4,634 | -€1,742 | -27.3% |
| Profit (loss) for the period | 9904 | €21,543 | -€19,787 | -€41,330 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,543 | -€19,787 | -€41,330 |
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.