MAPANT: 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.
MAPANT
Largest movements
- Deferred charges and accrued income -€20,650
down €20,650 (-95.5%), from €21,633 to €983
- Tangible fixed assets -€13,205
down €13,205 (-3.7%), from €357,636 to €344,431
of which Land and buildings: -€9,624
- Reserves +€52,156
up €52,156 (+12.2%), from €425,997 to €478,152
- Debts after one year -€51,217
down €51,217 (-17.0%), from €301,217 to €250,000
- Other debts -€29,714
down €29,714 (-9.6%), from €308,122 to €278,408
- Gross operating margin -€75,080
down €75,080 (-64.3%), from €116,769 to €41,689
- Financial income +€45,000
new in 2025: €45,000
- Other operating charges -€13,906
down €13,906 (-85.3%), from €16,298 to €2,392
- Taxes -€12,512
down €12,512 (-59.8%), from €20,919 to €8,407
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 | €1,111,732 | €1,088,449 | -€23,283 | -2.1% |
| Fixed assets | 21/28 | €934,636 | €921,431 | -€13,205 | -1.4% |
| Tangible fixed assets | 22/27 | €357,636 | €344,431 | -€13,205 | -3.7% |
| Land and buildings | 22 | €350,350 | €340,726 | -€9,624 | -2.7% |
| Plant, machinery and equipment | 23 | €2,828 | €2,277 | -€551 | -19.5% |
| Furniture and vehicles | 24 | €4,458 | €1,428 | -€3,030 | -68.0% |
| Financial fixed assets | 28 | €577,000 | €577,000 | = | 0.0% |
| Current assets | 29/58 | €177,096 | €167,018 | -€10,078 | -5.7% |
| Amounts receivable within one year | 40/41 | €150,778 | €154,261 | +€3,483 | +2.3% |
| Trade receivables | 40 | €10,000 | €25,851 | +€15,851 | +159% |
| Other amounts receivable | 41 | €140,778 | €128,410 | -€12,369 | -8.8% |
| Cash at bank and in hand | 54/58 | €4,684 | €11,773 | +€7,089 | +151% |
| Deferred charges and accrued income | 490/1 | €21,633 | €983 | -€20,650 | -95.5% |
| Total equity and liabilities | 10/49 | €1,111,732 | €1,088,449 | -€23,283 | -2.1% |
| Equity | 10/15 | €444,597 | €496,752 | +€52,156 | +11.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €425,997 | €478,152 | +€52,156 | +12.2% |
| Distributable reserves | 133 | €425,997 | €478,152 | +€52,156 | +12.2% |
| Amounts payable | 17/49 | €667,135 | €591,697 | -€75,438 | -11.3% |
| Amounts payable after more than one year | 17 | €301,217 | €250,000 | -€51,217 | -17.0% |
| Financial debts | 170/4 | €301,217 | €250,000 | -€51,217 | -17.0% |
| Amounts payable within one year | 42/48 | €365,032 | €340,191 | -€24,841 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €50,601 | €51,217 | +€616 | +1.2% |
| Trade debts | 44 | €2,120 | €663 | -€1,457 | -68.7% |
| Suppliers | 440/4 | €2,120 | €663 | -€1,457 | -68.7% |
| Advances received on contracts in progress | 46 | €4,189 | €4,240 | +€51 | +1.2% |
| Taxes, remuneration and social security | 45 | €0 | €5,663 | +€5,663 | |
| Taxes | 450/3 | €0 | €5,663 | +€5,663 | |
| Other amounts payable | 47/48 | €308,122 | €278,408 | -€29,714 | -9.6% |
| Accrued charges and deferred income | 492/3 | €886 | €1,506 | +€620 | +69.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,205 | €13,205 | = | 0.0% |
| Other operating charges | 640/8 | €16,298 | €2,392 | -€13,906 | -85.3% |
| Gross operating margin | 9900 | €116,769 | €41,689 | -€75,080 | -64.3% |
| Operating profit (loss) | 9901 | €87,266 | €26,093 | -€61,174 | -70.1% |
| Financial income | 75/76B | - | €45,000 | +€45,000 | |
| Recurring financial income | 75 | - | €45,000 | +€45,000 | |
| Financial charges | 65/66B | €10,825 | €10,530 | -€295 | -2.7% |
| Recurring financial charges | 65 | €10,825 | €10,530 | -€295 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €76,441 | €60,562 | -€15,878 | -20.8% |
| Income taxes | 67/77 | €20,919 | €8,407 | -€12,512 | -59.8% |
| Profit (loss) for the period | 9904 | €55,522 | €52,156 | -€3,367 | -6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €55,522 | €52,156 | -€3,367 | -6.1% |
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 16 October 2026 via checked.be.