MAPA: 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.
What changed
MAPA
NACE 46.831, Wholesale of construction materials, general range
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€17,773
2024 · €5,667+€12,106
Equity
€316,201
2024 · €298,428+€17,773
Cash
€21,185
2024 · €18,269+€2,917
Balance sheet total
€1.0m
2024 · €1.0m-€16,679
Largest movements
Assets
- Tangible fixed assets -€14,333
down €14,333 (-4.3%), from €329,777 to €315,444
of which Land and buildings: -€17,097
Equity and liabilities
- Short-term financial debts -€125,040
no longer reported in 2025 (was €125,040)
- Current portion of long-term debt +€56,787
new in 2025: €56,787
- Debts after one year +€26,820
up €26,820 (+7.7%), from €347,546 to €374,366
- Profit (loss) carried forward +€17,773
up €17,773 (+2.6%), from -€685,021 to -€667,248
Income statement
- Gross operating margin +€13,718
up €13,718 (+21.1%), from €65,154 to €78,872
- Financial charges -€8,648
down €8,648 (-20.5%), from €42,269 to €33,621
- Other operating charges +€6,894
up €6,894 (+1408.3%), from €490 to €7,383
- Write-downs +€1,640
new in 2025: €1,640
- Depreciation +€1,357
up €1,357 (+7.9%), from €17,097 to €18,455
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.
Result 2024
€5,667
Gross operating margin
+€13,718
Depreciation
-€1,357
Write-downs
-€1,640
Other operating charges
-€6,894
Financial income
-€369
Financial charges
+€8,648
Result 2025
€17,773
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.
From operations
+€48,472
Investment
-€4,122
Financing
-€41,433
Cash 2024
€18,269
From operations (derived)
+€48,472
Net result for the year
+€17,773
Depreciation
+€18,455
Stocks and contracts
+€2,897
Receivables within one year
+€2,365
Trade debts
+€593
Tax, wage and social debts
-€8,641
Other debts
+€6,471
Accrued charges and deferred income
+€8,559
Investment (derived)
-€4,122
Investment in fixed assets (net)
-€4,122
Financing
-€41,433
Debts after one year
+€26,820
Current portion of long-term debt
+€56,787
Short-term financial debts
-€125,040
Cash 2025
€21,185
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,030,983 | €1,014,304 | -€16,679 | -1.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €329,777 | €315,444 | -€14,333 | -4.3% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €329,777 | €315,444 | -€14,333 | -4.3% |
| Land and buildings | 22 | €328,416 | €311,319 | -€17,097 | -5.2% |
| Plant, machinery and equipment | 23 | €100 | €100 | = | 0.0% |
| Furniture and vehicles | 24 | €1,261 | €1,310 | +€49 | +3.9% |
| Other tangible fixed assets | 26 | - | €2,715 | +€2,715 | |
| Current assets | 29/58 | €701,206 | €698,860 | -€2,346 | -0.3% |
| Stocks and contracts in progress | 3 | €459,520 | €456,623 | -€2,897 | -0.6% |
| Stocks | 30/36 | €459,520 | €456,623 | -€2,897 | -0.6% |
| Amounts receivable within one year | 40/41 | €223,417 | €221,051 | -€2,365 | -1.1% |
| Trade receivables | 40 | €193,017 | €190,651 | -€2,365 | -1.2% |
| Other amounts receivable | 41 | €30,400 | €30,400 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €18,269 | €21,185 | +€2,917 | +16.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,030,983 | €1,014,304 | -€16,679 | -1.6% |
| Equity | 10/15 | €298,428 | €316,201 | +€17,773 | +6.0% |
| Contributions | 10/11 | €192,960 | €192,960 | = | 0.0% |
| Capital | 10 | €192,960 | €192,960 | = | 0.0% |
| Issued capital | 100 | €192,960 | €192,960 | = | 0.0% |
| Revaluation surpluses | 12 | €386,098 | €386,098 | = | 0.0% |
| Reserves | 13 | €404,391 | €404,391 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,296 | €9,296 | = | 0.0% |
| Legal reserve | 130 | €9,296 | €9,296 | = | 0.0% |
| Tax-exempt reserves | 132 | €48,353 | €48,353 | = | 0.0% |
| Distributable reserves | 133 | €346,742 | €346,742 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€685,021 | -€667,248 | +€17,773 | +2.6% |
| Amounts payable | 17/49 | €732,555 | €698,103 | -€34,452 | -4.7% |
| Amounts payable after more than one year | 17 | €347,546 | €374,366 | +€26,820 | +7.7% |
| Financial debts | 170/4 | €347,546 | €374,366 | +€26,820 | +7.7% |
| Amounts payable within one year | 42/48 | €384,984 | €315,154 | -€69,830 | -18.1% |
| Current portion of amounts payable after more than one year | 42 | - | €56,787 | +€56,787 | |
| Financial debts | 43 | €125,040 | - | -€125,040 | |
| Credit institutions | 430/8 | €125,040 | - | -€125,040 | |
| Trade debts | 44 | €18,589 | €19,181 | +€593 | +3.2% |
| Suppliers | 440/4 | €18,589 | €19,181 | +€593 | +3.2% |
| Taxes, remuneration and social security | 45 | €58,800 | €50,159 | -€8,641 | -14.7% |
| Taxes | 450/3 | €9,399 | €759 | -€8,641 | -91.9% |
| Remuneration and social security | 454/9 | €49,400 | €49,400 | = | 0.0% |
| Other amounts payable | 47/48 | €182,556 | €189,027 | +€6,471 | +3.5% |
| Accrued charges and deferred income | 492/3 | €24 | €8,583 | +€8,559 | +35660.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,097 | €18,455 | +€1,357 | +7.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,640 | +€1,640 | |
| Other operating charges | 640/8 | €490 | €7,383 | +€6,894 | +1408.3% |
| Gross operating margin | 9900 | €65,154 | €78,872 | +€13,718 | +21.1% |
| Operating profit (loss) | 9901 | €47,567 | €51,394 | +€3,827 | +8.0% |
| Financial income | 75/76B | €369 | €0 | -€369 | -100.0% |
| Recurring financial income | 75 | €15 | €0 | -€15 | -100.0% |
| Non-recurring financial income | 76B | €354 | - | -€354 | |
| Financial charges | 65/66B | €42,269 | €33,621 | -€8,648 | -20.5% |
| Recurring financial charges | 65 | €42,269 | €33,621 | -€8,648 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €5,667 | €17,773 | +€12,106 | +213.6% |
| Profit (loss) for the period | 9904 | €5,667 | €17,773 | +€12,106 | +213.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,667 | €17,773 | +€12,106 | +213.6% |
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 7 October 2026 via checked.be.