MAP MANAGEMENT: 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 MANAGEMENT
Largest movements
- Tangible fixed assets -€613,509
down €613,509 (-98.0%), from €625,845 to €12,335
of which Land and buildings: -€603,641
- Receivables within one year -€32,187
down €32,187 (-54.5%), from €59,073 to €26,886
of which Other amounts receivable: -€51,420
- Debts after one year -€538,142
down €538,142 (-86.8%), from €619,756 to €81,613
- Profit (loss) carried forward -€108,483
down €108,483 (-35.6%), from -€304,572 to -€413,054
- Current portion of long-term debt -€52,330
down €52,330 (-84.5%), from €61,942 to €9,612
- Other debts +€37,844
new in 2025: €37,844
- Trade debts +€11,786
up €11,786 (+88.6%), from €13,300 to €25,086
- Financial charges -€222,464
down €222,464 (-89.9%), from €247,474 to €25,010
- Other operating charges +€98,033
up €98,033 (+25,309%), from €387 to €98,420
- Gross operating margin -€39,535
down €39,535 (-63.1%), from €62,654 to €23,120
- Depreciation -€15,509
down €15,509 (-57.3%), from €27,045 to €11,536
- Taxes -€7,250
down €7,250 (-93.8%), from €7,726 to €476
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 | €767,694 | €119,918 | -€647,776 | -84.4% |
| Fixed assets | 21/28 | €628,071 | €13,862 | -€614,209 | -97.8% |
| Intangible fixed assets | 21 | €2,227 | €1,527 | -€700 | -31.4% |
| Tangible fixed assets | 22/27 | €625,845 | €12,335 | -€613,509 | -98.0% |
| Land and buildings | 22 | €603,641 | - | -€603,641 | |
| Furniture and vehicles | 24 | €22,203 | €12,335 | -€9,868 | -44.4% |
| Current assets | 29/58 | €139,623 | €106,056 | -€33,567 | -24.0% |
| Amounts receivable after more than one year | 29 | €75,880 | €75,880 | = | 0.0% |
| Other amounts receivable | 291 | €75,880 | €75,880 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €59,073 | €26,886 | -€32,187 | -54.5% |
| Trade receivables | 40 | €7,653 | €26,886 | +€19,233 | +251% |
| Other amounts receivable | 41 | €51,420 | - | -€51,420 | |
| Cash at bank and in hand | 54/58 | €266 | €28 | -€238 | -89.6% |
| Deferred charges and accrued income | 490/1 | €4,404 | €3,263 | -€1,141 | -25.9% |
| Total equity and liabilities | 10/49 | €767,694 | €119,918 | -€647,776 | -84.4% |
| Equity | 10/15 | -€10,292 | -€118,774 | -€108,483 | -1,054% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €273,875 | €273,875 | = | 0.0% |
| Tax-exempt reserves | 132 | €157,875 | €157,875 | = | 0.0% |
| Distributable reserves | 133 | €116,000 | €116,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€304,572 | -€413,054 | -€108,483 | -35.6% |
| Provisions and deferred taxes | 16 | €52,625 | €52,625 | = | 0.0% |
| Deferred taxes | 168 | €52,625 | €52,625 | = | 0.0% |
| Amounts payable | 17/49 | €725,361 | €186,067 | -€539,293 | -74.3% |
| Amounts payable after more than one year | 17 | €619,756 | €81,613 | -€538,142 | -86.8% |
| Financial debts | 170/4 | €619,756 | €81,613 | -€538,142 | -86.8% |
| Amounts payable within one year | 42/48 | €105,605 | €103,844 | -€1,761 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €61,942 | €9,612 | -€52,330 | -84.5% |
| Financial debts | 43 | €5,490 | €9,161 | +€3,671 | +66.9% |
| Credit institutions | 430/8 | €5,490 | €9,161 | +€3,671 | +66.9% |
| Trade debts | 44 | €13,300 | €25,086 | +€11,786 | +88.6% |
| Suppliers | 440/4 | €13,300 | €25,086 | +€11,786 | +88.6% |
| Taxes, remuneration and social security | 45 | €24,873 | €22,140 | -€2,732 | -11.0% |
| Taxes | 450/3 | €24,873 | €22,140 | -€2,732 | -11.0% |
| Other amounts payable | 47/48 | - | €37,844 | +€37,844 | |
| Accrued charges and deferred income | 492/3 | - | €609 | +€609 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,045 | €11,536 | -€15,509 | -57.3% |
| Other operating charges | 640/8 | €387 | €98,420 | +€98,033 | +25,309% |
| Gross operating margin | 9900 | €62,654 | €23,120 | -€39,535 | -63.1% |
| Operating profit (loss) | 9901 | €35,222 | -€86,836 | -€122,059 | |
| Financial income | 75/76B | €6,384 | €3,839 | -€2,545 | -39.9% |
| Recurring financial income | 75 | €6,384 | €3,839 | -€2,545 | -39.9% |
| Financial charges | 65/66B | €247,474 | €25,010 | -€222,464 | -89.9% |
| Recurring financial charges | 65 | €247,474 | €25,010 | -€222,464 | -89.9% |
| Profit (loss) for the period before taxes | 9903 | -€205,867 | -€108,007 | +€97,860 | +47.5% |
| Income taxes | 67/77 | €7,726 | €476 | -€7,250 | -93.8% |
| Profit (loss) for the period | 9904 | -€213,593 | -€108,483 | +€105,110 | +49.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€213,593 | -€108,483 | +€105,110 | +49.2% |
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 15 October 2026 via checked.be.