MAPID: 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.
MAPID
Largest movements
- Stocks and contracts -€445,812
down €445,812 (-100.0%), from €445,812 to €0
- Cash +€19,931
up €19,931 (+526.4%), from €3,786 to €23,718
mainly Stocks and contracts (+€445,812) and Trade debts (+€15,376)
- Tangible fixed assets +€8,753
up €8,753 (+4.0%), from €216,996 to €225,749
of which Land and buildings: +€10,804
- Debts after one year -€385,309
down €385,309 (-57.8%), from €666,625 to €281,316
of which Financial debts: -€381,600
- Profit (loss) carried forward -€46,273
down €46,273 (-69.8%), from -€66,333 to -€112,606
- Trade debts +€15,376
up €15,376 (+4275.3%), from €360 to €15,736
- Gross operating margin -€47,179
down €47,179, from €25,263 to -€21,916
- Financial charges -€10,179
down €10,179 (-48.5%), from €20,991 to €10,812
- Depreciation -€784
down €784 (-6.5%), from €12,004 to €11,219
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 | €671,022 | €250,581 | -€420,441 | -62.7% |
| Fixed assets | 21/28 | €217,199 | €225,952 | +€8,753 | +4.0% |
| Tangible fixed assets | 22/27 | €216,996 | €225,749 | +€8,753 | +4.0% |
| Land and buildings | 22 | €209,697 | €220,501 | +€10,804 | +5.2% |
| Plant, machinery and equipment | 23 | €1,822 | €1,279 | -€544 | -29.8% |
| Furniture and vehicles | 24 | €5,476 | €3,969 | -€1,507 | -27.5% |
| Financial fixed assets | 28 | €203 | €203 | = | 0.0% |
| Current assets | 29/58 | €453,823 | €24,629 | -€429,194 | -94.6% |
| Stocks and contracts in progress | 3 | €445,812 | €0 | -€445,812 | -100.0% |
| Stocks | 30/36 | €445,812 | €0 | -€445,812 | -100.0% |
| Amounts receivable within one year | 40/41 | €4,093 | €817 | -€3,276 | -80.0% |
| Trade receivables | 40 | €3,905 | €360 | -€3,545 | -90.8% |
| Other amounts receivable | 41 | €188 | €457 | +€269 | +142.7% |
| Cash at bank and in hand | 54/58 | €3,786 | €23,718 | +€19,931 | +526.4% |
| Deferred charges and accrued income | 490/1 | €131 | €94 | -€37 | -28.1% |
| Total equity and liabilities | 10/49 | €671,022 | €250,581 | -€420,441 | -62.7% |
| Equity | 10/15 | -€197 | -€46,470 | -€46,273 | -23462.5% |
| Contributions | 10/11 | €36,200 | €36,200 | = | 0.0% |
| Reserves | 13 | €29,935 | €29,935 | = | 0.0% |
| Distributable reserves | 133 | €29,935 | €29,935 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,333 | -€112,606 | -€46,273 | -69.8% |
| Amounts payable | 17/49 | €671,219 | €297,051 | -€374,168 | -55.7% |
| Amounts payable after more than one year | 17 | €666,625 | €281,316 | -€385,309 | -57.8% |
| Financial debts | 170/4 | €481,600 | €100,000 | -€381,600 | -79.2% |
| Other amounts payable | 178/9 | €185,025 | €181,316 | -€3,709 | -2.0% |
| Amounts payable within one year | 42/48 | €4,595 | €15,736 | +€11,141 | +242.5% |
| Trade debts | 44 | €360 | €15,736 | +€15,376 | +4275.3% |
| Suppliers | 440/4 | €360 | €15,736 | +€15,376 | +4275.3% |
| Advances received on contracts in progress | 46 | €4,235 | €0 | -€4,235 | -100.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,004 | €11,219 | -€784 | -6.5% |
| Other operating charges | 640/8 | €2,133 | €2,325 | +€192 | +9.0% |
| Gross operating margin | 9900 | €25,263 | -€21,916 | -€47,179 | |
| Operating profit (loss) | 9901 | €11,126 | -€35,461 | -€46,587 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -98.8% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -98.8% |
| Financial charges | 65/66B | €20,991 | €10,812 | -€10,179 | -48.5% |
| Recurring financial charges | 65 | €20,991 | €10,812 | -€10,179 | -48.5% |
| Profit (loss) for the period before taxes | 9903 | -€9,864 | -€46,273 | -€36,409 | -369.1% |
| Profit (loss) for the period | 9904 | -€9,864 | -€46,273 | -€36,409 | -369.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,864 | -€46,273 | -€36,409 | -369.1% |
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 30 September 2026 via checked.be.