MAPAC: 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.
MAPAC
Largest movements
- Tangible fixed assets -€35,841
down €35,841 (-7.2%), from €498,062 to €462,221
of which Land and buildings: -€35,022
- Cash -€15,114
down €15,114 (-19.4%), from €78,073 to €62,958
mainly Debts after one year (-€44,563) and Trade debts (-€17,191)
- Receivables within one year +€8,755
up €8,755 (+539%), from €1,626 to €10,381
of which Trade receivables: +€6,059
- Debts after one year -€44,563
down €44,563 (-10.1%), from €443,106 to €398,543
- Trade debts -€17,191
down €17,191 (-24.1%), from €71,448 to €54,256
- Profit (loss) carried forward +€15,241
up €15,241 (+38.6%), from €39,446 to €54,687
- Purchases and services -€71,186
down €71,186 (-38.7%), from €183,821 to €112,635
- Other operating charges -€21,519
down €21,519 (-65.2%), from €32,995 to €11,476
- Gross operating margin -€20,984
down €20,984 (-21.1%), from €99,377 to €78,393
- Turnover -€18,177
down €18,177 (-8.7%), from €209,206 to €191,029
- Depreciation -€5,157
down €5,157 (-12.6%), from €40,998 to €35,841
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 | €578,672 | €536,040 | -€42,632 | -7.4% |
| Fixed assets | 21/28 | €498,211 | €462,570 | -€35,641 | -7.2% |
| Tangible fixed assets | 22/27 | €498,062 | €462,221 | -€35,841 | -7.2% |
| Land and buildings | 22 | €497,038 | €462,017 | -€35,022 | -7.0% |
| Furniture and vehicles | 24 | €1,024 | €205 | -€819 | -80.0% |
| Financial fixed assets | 28 | €149 | €349 | +€200 | +134% |
| Current assets | 29/58 | €80,461 | €73,470 | -€6,991 | -8.7% |
| Amounts receivable within one year | 40/41 | €1,626 | €10,381 | +€8,755 | +539% |
| Trade receivables | 40 | €523 | €6,582 | +€6,059 | +1,159% |
| Other amounts receivable | 41 | €1,103 | €3,799 | +€2,696 | +244% |
| Cash at bank and in hand | 54/58 | €78,073 | €62,958 | -€15,114 | -19.4% |
| Deferred charges and accrued income | 490/1 | €762 | €131 | -€632 | -82.9% |
| Total equity and liabilities | 10/49 | €578,672 | €536,040 | -€42,632 | -7.4% |
| Equity | 10/15 | €59,906 | €75,147 | +€15,241 | +25.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,446 | €54,687 | +€15,241 | +38.6% |
| Amounts payable | 17/49 | €518,766 | €460,893 | -€57,873 | -11.2% |
| Amounts payable after more than one year | 17 | €443,106 | €398,543 | -€44,563 | -10.1% |
| Financial debts | 170/4 | €443,106 | €398,543 | -€44,563 | -10.1% |
| Amounts payable within one year | 42/48 | €75,660 | €62,350 | -€13,310 | -17.6% |
| Trade debts | 44 | €71,448 | €54,256 | -€17,191 | -24.1% |
| Suppliers | 440/4 | €71,448 | €54,256 | -€17,191 | -24.1% |
| Taxes, remuneration and social security | 45 | €4,200 | €8,082 | +€3,882 | +92.4% |
| Taxes | 450/3 | €4,200 | €8,082 | +€3,882 | +92.4% |
| Other amounts payable | 47/48 | €13 | €13 | = | 0.0% |
| Turnover | 70 | €209,206 | €191,029 | -€18,177 | -8.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €183,821 | €112,635 | -€71,186 | -38.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,998 | €35,841 | -€5,157 | -12.6% |
| Other operating charges | 640/8 | €32,995 | €11,476 | -€21,519 | -65.2% |
| Gross operating margin | 9900 | €99,377 | €78,393 | -€20,984 | -21.1% |
| Operating profit (loss) | 9901 | €25,385 | €31,077 | +€5,692 | +22.4% |
| Financial income | 75/76B | €656 | €471 | -€185 | -28.2% |
| Recurring financial income | 75 | €656 | €471 | -€185 | -28.2% |
| Financial charges | 65/66B | €11,488 | €10,425 | -€1,063 | -9.3% |
| Recurring financial charges | 65 | €11,488 | €10,425 | -€1,063 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €14,552 | €21,122 | +€6,571 | +45.2% |
| Income taxes | 67/77 | €4,222 | €5,882 | +€1,659 | +39.3% |
| Profit (loss) for the period | 9904 | €10,330 | €15,241 | +€4,911 | +47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,330 | €15,241 | +€4,911 | +47.5% |
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 21 October 2026 via checked.be.