MAPICSI: 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.
MAPICSI
Largest movements
- Tangible fixed assets -€15,261
down €15,261 (-4.1%), from €369,841 to €354,580
of which Land and buildings: -€15,085
- Cash +€13,395
up €13,395 (+366.9%), from €3,651 to €17,046
mainly Depreciation (+€28,989) and Net result for the year (+€24,366)
- Deferred charges and accrued income -€7,646
down €7,646 (-32.3%), from €23,702 to €16,056
- Profit (loss) carried forward +€24,366
up €24,366 (+22.3%), from €109,294 to €133,660
- Debts after one year -€16,525
down €16,525 (-11.3%), from €146,843 to €130,318
- Other debts -€13,339
down €13,339 (-21.1%), from €63,234 to €49,895
- Gross operating margin +€25,201
up €25,201 (+54.7%), from €46,095 to €71,296
- Taxes +€5,062
up €5,062 (+110.8%), from €4,569 to €9,631
- Other operating charges +€2,271
up €2,271 (+121.8%), from €1,865 to €4,136
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 | €397,194 | €390,086 | -€7,108 | -1.8% |
| Fixed assets | 21/28 | €369,841 | €354,580 | -€15,261 | -4.1% |
| Tangible fixed assets | 22/27 | €369,841 | €354,580 | -€15,261 | -4.1% |
| Land and buildings | 22 | €368,282 | €353,197 | -€15,085 | -4.1% |
| Furniture and vehicles | 24 | €1,559 | €1,383 | -€176 | -11.3% |
| Current assets | 29/58 | €27,353 | €35,506 | +€8,153 | +29.8% |
| Amounts receivable within one year | 40/41 | - | €2,404 | +€2,404 | |
| Other amounts receivable | 41 | - | €2,404 | +€2,404 | |
| Cash at bank and in hand | 54/58 | €3,651 | €17,046 | +€13,395 | +366.9% |
| Deferred charges and accrued income | 490/1 | €23,702 | €16,056 | -€7,646 | -32.3% |
| Total equity and liabilities | 10/49 | €397,194 | €390,086 | -€7,108 | -1.8% |
| Equity | 10/15 | €160,332 | €184,698 | +€24,366 | +15.2% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €30,578 | €30,578 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,578 | €30,578 | = | 0.0% |
| Profit (loss) carried forward | 14 | €109,294 | €133,660 | +€24,366 | +22.3% |
| Amounts payable | 17/49 | €236,862 | €205,388 | -€31,474 | -13.3% |
| Amounts payable after more than one year | 17 | €146,843 | €130,318 | -€16,525 | -11.3% |
| Financial debts | 170/4 | €146,843 | €130,318 | -€16,525 | -11.3% |
| Amounts payable within one year | 42/48 | €84,047 | €69,098 | -€14,949 | -17.8% |
| Current portion of amounts payable after more than one year | 42 | €17,911 | €16,525 | -€1,386 | -7.7% |
| Trade debts | 44 | €1,348 | €1,124 | -€224 | -16.6% |
| Suppliers | 440/4 | €1,348 | €1,124 | -€224 | -16.6% |
| Taxes, remuneration and social security | 45 | €1,554 | €1,554 | = | 0.0% |
| Taxes | 450/3 | €1,554 | €1,554 | = | 0.0% |
| Other amounts payable | 47/48 | €63,234 | €49,895 | -€13,339 | -21.1% |
| Accrued charges and deferred income | 492/3 | €5,972 | €5,972 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,485 | €28,989 | -€496 | -1.7% |
| Other operating charges | 640/8 | €1,865 | €4,136 | +€2,271 | +121.8% |
| Gross operating margin | 9900 | €46,095 | €71,296 | +€25,201 | +54.7% |
| Operating profit (loss) | 9901 | €14,745 | €38,171 | +€23,426 | +158.9% |
| Financial income | 75/76B | €52 | €114 | +€62 | +119.2% |
| Recurring financial income | 75 | €52 | €114 | +€62 | +119.2% |
| Financial charges | 65/66B | €4,825 | €4,288 | -€537 | -11.1% |
| Recurring financial charges | 65 | €4,825 | €4,288 | -€537 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €9,972 | €33,997 | +€24,025 | +240.9% |
| Income taxes | 67/77 | €4,569 | €9,631 | +€5,062 | +110.8% |
| Profit (loss) for the period | 9904 | €5,403 | €24,366 | +€18,963 | +351.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,403 | €24,366 | +€18,963 | +351.0% |
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.