MAPCO: 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.
MAPCO
Largest movements
- Cash +€12,095
up €12,095 (+11.7%), from €103,263 to €115,358
mainly Net result for the year (+€48,240) and Depreciation (+€14,708)
- Receivables within one year +€5,444
up €5,444 (+6.6%), from €82,359 to €87,803
of which Other amounts receivable: +€18,311
- Reserves +€48,240
up €48,240 (+46.8%), from €102,994 to €151,234
- Profit (loss) carried forward -€19,000
down €19,000 (-20.3%), from €93,710 to €74,710
- Tax, wage and social debts -€7,073
down €7,073 (-35.3%), from €20,017 to €12,944
- Trade debts -€4,378
down €4,378 (-59.5%), from €7,364 to €2,986
- Gross operating margin -€18,546
down €18,546 (-17.0%), from €109,200 to €90,654
- Other operating charges +€2,522
up €2,522 (+295.0%), from €855 to €3,377
- Depreciation +€1,747
up €1,747 (+13.5%), from €12,961 to €14,708
- Taxes -€1,421
down €1,421 (-5.2%), from €27,446 to €26,026
- Financial charges +€1,386
up €1,386 (+829.9%), from €167 to €1,553
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 | €250,276 | €267,374 | +€17,098 | +6.8% |
| Fixed assets | 21/28 | €64,654 | €63,891 | -€763 | -1.2% |
| Tangible fixed assets | 22/27 | €64,654 | €63,891 | -€763 | -1.2% |
| Land and buildings | 22 | €46,247 | €53,460 | +€7,213 | +15.6% |
| Furniture and vehicles | 24 | €18,407 | €10,431 | -€7,976 | -43.3% |
| Current assets | 29/58 | €185,622 | €203,483 | +€17,861 | +9.6% |
| Amounts receivable within one year | 40/41 | €82,359 | €87,803 | +€5,444 | +6.6% |
| Trade receivables | 40 | €22,609 | €9,742 | -€12,867 | -56.9% |
| Other amounts receivable | 41 | €59,750 | €78,060 | +€18,311 | +30.6% |
| Cash at bank and in hand | 54/58 | €103,263 | €115,358 | +€12,095 | +11.7% |
| Deferred charges and accrued income | 490/1 | - | €322 | +€322 | |
| Total equity and liabilities | 10/49 | €250,276 | €267,374 | +€17,098 | +6.8% |
| Equity | 10/15 | €203,204 | €232,444 | +€29,240 | +14.4% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €102,994 | €151,234 | +€48,240 | +46.8% |
| Distributable reserves | 133 | €102,994 | €151,234 | +€48,240 | +46.8% |
| Profit (loss) carried forward | 14 | €93,710 | €74,710 | -€19,000 | -20.3% |
| Amounts payable | 17/49 | €47,072 | €34,930 | -€12,142 | -25.8% |
| Amounts payable within one year | 42/48 | €47,072 | €34,930 | -€12,142 | -25.8% |
| Trade debts | 44 | €7,364 | €2,986 | -€4,378 | -59.5% |
| Suppliers | 440/4 | €7,364 | €2,986 | -€4,378 | -59.5% |
| Taxes, remuneration and social security | 45 | €20,017 | €12,944 | -€7,073 | -35.3% |
| Taxes | 450/3 | €20,017 | €12,944 | -€7,073 | -35.3% |
| Other amounts payable | 47/48 | €19,691 | €19,000 | -€691 | -3.5% |
| Non-recurring operating income | 76A | €158 | - | -€158 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,961 | €14,708 | +€1,747 | +13.5% |
| Other operating charges | 640/8 | €855 | €3,377 | +€2,522 | +295.0% |
| Non-recurring operating charges | 66A | - | €316 | +€316 | |
| Gross operating margin | 9900 | €109,200 | €90,654 | -€18,546 | -17.0% |
| Operating profit (loss) | 9901 | €95,385 | €72,253 | -€23,132 | -24.3% |
| Financial income | 75/76B | €2,882 | €3,566 | +€684 | +23.7% |
| Recurring financial income | 75 | €2,882 | €3,566 | +€684 | +23.7% |
| Financial charges | 65/66B | €167 | €1,553 | +€1,386 | +829.9% |
| Recurring financial charges | 65 | €167 | €1,553 | +€1,386 | +829.9% |
| Profit (loss) for the period before taxes | 9903 | €98,099 | €74,265 | -€23,834 | -24.3% |
| Income taxes | 67/77 | €27,446 | €26,026 | -€1,421 | -5.2% |
| Profit (loss) for the period | 9904 | €70,653 | €48,240 | -€22,413 | -31.7% |
| Profit (loss) for the period to be appropriated | 9905 | €70,653 | €48,240 | -€22,413 | -31.7% |
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 5 October 2026 via checked.be.