MAPICOM: 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.
MAPICOM
Largest movements
- Tangible fixed assets -€9,131
down €9,131 (-4.5%), from €205,134 to €196,003
- Debts after one year -€8,250
down €8,250 (-12.6%), from €65,563 to €57,313
of which Financial debts: -€8,250
- Reserves -€3,438
down €3,438 (-3.1%), from €109,964 to €106,526
of which Distributable reserves: -€3,438
- Gross operating margin +€1,889
up €1,889 (+27.1%), from €6,966 to €8,855
- Financial charges +€140
up €140 (+11.8%), from €1,182 to €1,322
- Other operating charges -€96
down €96 (-4.9%), from €1,936 to €1,840
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 | €206,419 | €196,338 | -€10,081 | -4.9% |
| Fixed assets | 21/28 | €205,134 | €196,003 | -€9,131 | -4.5% |
| Tangible fixed assets | 22/27 | €205,134 | €196,003 | -€9,131 | -4.5% |
| Land and buildings | 22 | €205,134 | €196,003 | -€9,131 | -4.5% |
| Current assets | 29/58 | €1,286 | €335 | -€950 | -73.9% |
| Cash at bank and in hand | 54/58 | €1,286 | €335 | -€950 | -73.9% |
| Total equity and liabilities | 10/49 | €206,419 | €196,338 | -€10,081 | -4.9% |
| Equity | 10/15 | €122,364 | €118,926 | -€3,438 | -2.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €109,964 | €106,526 | -€3,438 | -3.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €109,964 | €106,526 | -€3,438 | -3.1% |
| Amounts payable | 17/49 | €84,055 | €77,412 | -€6,643 | -7.9% |
| Amounts payable after more than one year | 17 | €65,563 | €57,313 | -€8,250 | -12.6% |
| Financial debts | 170/4 | €40,563 | €32,313 | -€8,250 | -20.3% |
| Other amounts payable | 178/9 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €18,493 | €20,100 | +€1,607 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €8,250 | €8,250 | = | 0.0% |
| Other amounts payable | 47/48 | €10,243 | €11,850 | +€1,607 | +15.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,131 | €9,131 | = | 0.0% |
| Other operating charges | 640/8 | €1,936 | €1,840 | -€96 | -4.9% |
| Gross operating margin | 9900 | €6,966 | €8,855 | +€1,889 | +27.1% |
| Operating profit (loss) | 9901 | -€4,100 | -€2,116 | +€1,985 | +48.4% |
| Financial charges | 65/66B | €1,182 | €1,322 | +€140 | +11.8% |
| Recurring financial charges | 65 | €1,182 | €1,322 | +€140 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,283 | -€3,438 | +€1,845 | +34.9% |
| Profit (loss) for the period | 9904 | -€5,283 | -€3,438 | +€1,845 | +34.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,283 | -€3,438 | +€1,845 | +34.9% |
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 7 October 2026 via checked.be.