Mapi: 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.
Mapi
Largest movements
- Stocks and contracts +€87,787
up €87,787 (+28.0%), from €313,736 to €401,523
- Debts after one year +€73,543
up €73,543 (+39.3%), from €187,054 to €260,597
- Other debts +€27,488
up €27,488 (+22.9%), from €120,000 to €147,488
- Reserves -€14,639
down €14,639 (-40.2%), from €36,380 to €21,741
of which Distributable reserves: -€14,639
- Gross operating margin +€3,787
up €3,787 (+30.7%), from -€12,325 to -€8,538
- Depreciation +€566
new in 2025: €566
- Financial income +€499
up €499 (+10.7%), from €4,685 to €5,184
- Other operating charges -€126
down €126 (-9.5%), from €1,325 to €1,199
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 | €452,328 | €543,425 | +€91,097 | +20.1% |
| Fixed assets | 21/28 | - | €2,580 | +€2,580 | |
| Tangible fixed assets | 22/27 | - | €2,580 | +€2,580 | |
| Furniture and vehicles | 24 | - | €2,580 | +€2,580 | |
| Current assets | 29/58 | €452,328 | €540,845 | +€88,516 | +19.6% |
| Stocks and contracts in progress | 3 | €313,736 | €401,523 | +€87,787 | +28.0% |
| Stocks | 30/36 | €313,736 | €401,523 | +€87,787 | +28.0% |
| Amounts receivable within one year | 40/41 | €6,065 | €1,555 | -€4,510 | -74.4% |
| Trade receivables | 40 | €4,659 | - | -€4,659 | |
| Other amounts receivable | 41 | €1,405 | €1,555 | +€150 | +10.7% |
| Current investments | 50/53 | €125,000 | €125,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €7,370 | €10,368 | +€2,999 | +40.7% |
| Deferred charges and accrued income | 490/1 | €158 | €2,398 | +€2,240 | +1418.7% |
| Total equity and liabilities | 10/49 | €452,328 | €543,425 | +€91,097 | +20.1% |
| Equity | 10/15 | €136,380 | €121,741 | -€14,639 | -10.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €36,380 | €21,741 | -€14,639 | -40.2% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €26,380 | €11,741 | -€14,639 | -55.5% |
| Amounts payable | 17/49 | €315,949 | €421,684 | +€105,736 | +33.5% |
| Amounts payable after more than one year | 17 | €187,054 | €260,597 | +€73,543 | +39.3% |
| Financial debts | 170/4 | €187,054 | €260,597 | +€73,543 | +39.3% |
| Amounts payable within one year | 42/48 | €125,458 | €157,791 | +€32,333 | +25.8% |
| Current portion of amounts payable after more than one year | 42 | €5,117 | €5,223 | +€106 | +2.1% |
| Trade debts | 44 | €341 | €5,080 | +€4,739 | +1388.4% |
| Suppliers | 440/4 | €341 | €5,080 | +€4,739 | +1388.4% |
| Other amounts payable | 47/48 | €120,000 | €147,488 | +€27,488 | +22.9% |
| Accrued charges and deferred income | 492/3 | €3,437 | €3,297 | -€140 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €566 | +€566 | |
| Other operating charges | 640/8 | €1,325 | €1,199 | -€126 | -9.5% |
| Gross operating margin | 9900 | -€12,325 | -€8,538 | +€3,787 | +30.7% |
| Operating profit (loss) | 9901 | -€13,650 | -€10,303 | +€3,347 | +24.5% |
| Financial income | 75/76B | €4,685 | €5,184 | +€499 | +10.7% |
| Recurring financial income | 75 | €4,685 | €5,184 | +€499 | +10.7% |
| Financial charges | 65/66B | €9,501 | €9,521 | +€20 | +0.2% |
| Recurring financial charges | 65 | €9,501 | €9,521 | +€20 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | -€18,466 | -€14,639 | +€3,827 | +20.7% |
| Profit (loss) for the period | 9904 | -€18,466 | -€14,639 | +€3,827 | +20.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,466 | -€14,639 | +€3,827 | +20.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.