MAP CONTEMPORARY ART: 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.
MAP CONTEMPORARY ART
Largest movements
- Cash -€175,089
down €175,089 (-51.8%), from €338,112 to €163,023
mainly Trade debts (-€107,281) and Advances received (-€62,934)
- Tangible fixed assets -€35,059
down €35,059 (-7.8%), from €452,022 to €416,963
of which Land and buildings: -€30,014
- Stocks and contracts +€31,737
up €31,737 (+12.1%), from €262,930 to €294,667
- Deferred charges and accrued income +€21,040
up €21,040 (+1,100%), from €1,912 to €22,952
- Trade debts -€107,281
down €107,281 (-54.6%), from €196,660 to €89,379
- Advances received -€62,934
down €62,934 (-86.3%), from €72,934 to €10,000
- Reserves +€18,162
up €18,162 (+2.7%), from €666,178 to €684,339
of which Distributable reserves: +€18,162
- Other debts +€16,541
up €16,541 (+334%), from €4,952 to €21,493
- Debts after one year -€15,605
down €15,605 (-28.7%), from €54,298 to €38,693
- Gross operating margin +€25,911
up €25,911 (+12.1%), from €214,118 to €240,029
- Financial charges +€16,666
up €16,666 (+163%), from €10,205 to €26,871
- Other operating charges -€6,250
down €6,250 (-58.1%), from €10,765 to €4,514
- Depreciation +€4,419
up €4,419 (+16.8%), from €26,345 to €30,763
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 | €1,080,435 | €924,428 | -€156,007 | -14.4% |
| Fixed assets | 21/28 | €465,478 | €430,419 | -€35,059 | -7.5% |
| Tangible fixed assets | 22/27 | €452,022 | €416,963 | -€35,059 | -7.8% |
| Land and buildings | 22 | €429,667 | €399,653 | -€30,014 | -7.0% |
| Plant, machinery and equipment | 23 | €303 | €5,158 | +€4,854 | +1,600% |
| Furniture and vehicles | 24 | €22,051 | €12,152 | -€9,899 | -44.9% |
| Financial fixed assets | 28 | €13,456 | €13,456 | = | 0.0% |
| Current assets | 29/58 | €614,957 | €494,009 | -€120,948 | -19.7% |
| Stocks and contracts in progress | 3 | €262,930 | €294,667 | +€31,737 | +12.1% |
| Stocks | 30/36 | €262,930 | €294,667 | +€31,737 | +12.1% |
| Amounts receivable within one year | 40/41 | €12,004 | €13,368 | +€1,364 | +11.4% |
| Trade receivables | 40 | €7,776 | €4,274 | -€3,502 | -45.0% |
| Other amounts receivable | 41 | €4,228 | €9,094 | +€4,866 | +115% |
| Cash at bank and in hand | 54/58 | €338,112 | €163,023 | -€175,089 | -51.8% |
| Deferred charges and accrued income | 490/1 | €1,912 | €22,952 | +€21,040 | +1,100% |
| Total equity and liabilities | 10/49 | €1,080,435 | €924,428 | -€156,007 | -14.4% |
| Equity | 10/15 | €684,778 | €702,939 | +€18,162 | +2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €666,178 | €684,339 | +€18,162 | +2.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €664,318 | €682,479 | +€18,162 | +2.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €395,657 | €221,489 | -€174,169 | -44.0% |
| Amounts payable after more than one year | 17 | €54,298 | €38,693 | -€15,605 | -28.7% |
| Financial debts | 170/4 | €54,298 | €38,693 | -€15,605 | -28.7% |
| Amounts payable within one year | 42/48 | €337,990 | €182,746 | -€155,244 | -45.9% |
| Current portion of amounts payable after more than one year | 42 | €15,048 | €15,605 | +€557 | +3.7% |
| Trade debts | 44 | €196,660 | €89,379 | -€107,281 | -54.6% |
| Suppliers | 440/4 | €196,660 | €89,379 | -€107,281 | -54.6% |
| Advances received on contracts in progress | 46 | €72,934 | €10,000 | -€62,934 | -86.3% |
| Taxes, remuneration and social security | 45 | €48,397 | €46,270 | -€2,127 | -4.4% |
| Taxes | 450/3 | €17,668 | €17,503 | -€165 | -0.9% |
| Remuneration and social security | 454/9 | €30,728 | €28,766 | -€1,962 | -6.4% |
| Other amounts payable | 47/48 | €4,952 | €21,493 | +€16,541 | +334% |
| Accrued charges and deferred income | 492/3 | €3,369 | €49 | -€3,320 | -98.5% |
| Non-recurring operating income | 76A | €0 | €71,737 | +€71,737 | |
| Remuneration, social security and pensions | 62 | €127,901 | €128,044 | +€144 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,345 | €30,763 | +€4,419 | +16.8% |
| Other operating charges | 640/8 | €10,765 | €4,514 | -€6,250 | -58.1% |
| Non-recurring operating charges | 66A | €0 | €5,287 | +€5,287 | |
| Gross operating margin | 9900 | €214,118 | €240,029 | +€25,911 | +12.1% |
| Operating profit (loss) | 9901 | €49,108 | €71,421 | +€22,313 | +45.4% |
| Financial income | 75/76B | €928 | €2,893 | +€1,965 | +212% |
| Recurring financial income | 75 | €928 | €2,893 | +€1,965 | +212% |
| Financial charges | 65/66B | €10,205 | €26,871 | +€16,666 | +163% |
| Recurring financial charges | 65 | €10,205 | €26,871 | +€16,666 | +163% |
| Profit (loss) for the period before taxes | 9903 | €39,831 | €47,442 | +€7,611 | +19.1% |
| Income taxes | 67/77 | €10,621 | €12,739 | +€2,118 | +19.9% |
| Profit (loss) for the period | 9904 | €29,210 | €34,703 | +€5,493 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,210 | €34,703 | +€5,493 | +18.8% |
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 18 October 2026 via checked.be.