Maparo: 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.
Maparo
Largest movements
- Receivables within one year +€82,680
up €82,680 (+36.7%), from €225,198 to €307,878
of which Other amounts receivable: +€82,294
- Cash +€25,173
up €25,173 (+41.3%), from €60,912 to €86,085
mainly Net result for the year (+€100,995) and Other debts (+€73,697)
- Tangible fixed assets -€11,297
down €11,297 (-22.6%), from €49,913 to €38,616
- Other debts +€73,697
up €73,697, from €0 to €73,697
- Reserves +€27,299
up €27,299 (+6.6%), from €411,765 to €439,064
of which Distributable reserves: +€27,299
- Debts after one year -€10,331
down €10,331 (-85.7%), from €12,053 to €1,722
- Other operating charges -€14,330
down €14,330 (-87.5%), from €16,374 to €2,043
- Taxes +€5,418
up €5,418 (+14.0%), from €38,792 to €44,210
- Financial income +€5,282
up €5,282 (+37.0%), from €14,270 to €19,552
- Depreciation +€4,920
up €4,920 (+68.8%), from €7,155 to €12,075
- Gross operating margin +€3,536
up €3,536 (+2.6%), from €137,090 to €140,625
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €485,541 | €580,455 | +€94,914 | +19.5% |
| Fixed assets | 21/28 | €49,913 | €38,616 | -€11,297 | -22.6% |
| Tangible fixed assets | 22/27 | €49,913 | €38,616 | -€11,297 | -22.6% |
| Furniture and vehicles | 24 | €49,913 | €38,616 | -€11,297 | -22.6% |
| Current assets | 29/58 | €435,629 | €541,840 | +€106,211 | +24.4% |
| Amounts receivable after more than one year | 29 | €124,739 | €124,739 | = | 0.0% |
| Other amounts receivable | 291 | €124,739 | €124,739 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €225,198 | €307,878 | +€82,680 | +36.7% |
| Trade receivables | 40 | €5,280 | €5,666 | +€386 | +7.3% |
| Other amounts receivable | 41 | €219,919 | €302,212 | +€82,294 | +37.4% |
| Cash at bank and in hand | 54/58 | €60,912 | €86,085 | +€25,173 | +41.3% |
| Deferred charges and accrued income | 490/1 | €24,779 | €23,138 | -€1,641 | -6.6% |
| Total equity and liabilities | 10/49 | €485,541 | €580,455 | +€94,914 | +19.5% |
| Equity | 10/15 | €424,165 | €451,464 | +€27,299 | +6.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €411,765 | €439,064 | +€27,299 | +6.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €411,765 | €439,064 | +€27,299 | +6.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €61,376 | €128,991 | +€67,615 | +110.2% |
| Amounts payable after more than one year | 17 | €12,053 | €1,722 | -€10,331 | -85.7% |
| Financial debts | 170/4 | €12,053 | €1,722 | -€10,331 | -85.7% |
| Amounts payable within one year | 42/48 | €47,123 | €125,069 | +€77,946 | +165.4% |
| Current portion of amounts payable after more than one year | 42 | €10,331 | €10,331 | = | 0.0% |
| Financial debts | 43 | €18,050 | €17,647 | -€403 | -2.2% |
| Credit institutions | 430/8 | €18,050 | €17,647 | -€403 | -2.2% |
| Trade debts | 44 | €3,575 | €2,592 | -€983 | -27.5% |
| Suppliers | 440/4 | €3,575 | €2,592 | -€983 | -27.5% |
| Taxes, remuneration and social security | 45 | €15,167 | €20,802 | +€5,635 | +37.2% |
| Taxes | 450/3 | €15,167 | €20,802 | +€5,635 | +37.2% |
| Other amounts payable | 47/48 | €0 | €73,697 | +€73,697 | |
| Accrued charges and deferred income | 492/3 | €2,200 | €2,200 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,155 | €12,075 | +€4,920 | +68.8% |
| Other operating charges | 640/8 | €16,374 | €2,043 | -€14,330 | -87.5% |
| Gross operating margin | 9900 | €137,090 | €140,625 | +€3,536 | +2.6% |
| Operating profit (loss) | 9901 | €113,561 | €126,507 | +€12,946 | +11.4% |
| Financial income | 75/76B | €14,270 | €19,552 | +€5,282 | +37.0% |
| Recurring financial income | 75 | €14,270 | €19,552 | +€5,282 | +37.0% |
| Financial charges | 65/66B | €1,500 | €854 | -€646 | -43.1% |
| Recurring financial charges | 65 | €1,500 | €854 | -€646 | -43.1% |
| Profit (loss) for the period before taxes | 9903 | €126,331 | €145,205 | +€18,874 | +14.9% |
| Income taxes | 67/77 | €38,792 | €44,210 | +€5,418 | +14.0% |
| Profit (loss) for the period | 9904 | €87,539 | €100,995 | +€13,456 | +15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €87,539 | €100,995 | +€13,456 | +15.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.