MAPIDE: what changed
MAPIDE
Largest movements
- Financial fixed assets +€821,200
up €821,200 (+3,285%), from €25,001 to €846,201
- Cash -€279,917
down €279,917 (-88.2%), from €317,368 to €37,451
mainly Investment in fixed assets (net) (-€821,920) and Current investments (-€145,317)
- Current investments +€145,317
up €145,317 (+24,289%), from €598 to €145,915
- Tangible fixed assets -€136,724
down €136,724 (-8.5%), from €1.6m to €1.5m
- Receivables within one year +€133,158
up €133,158 (+198%), from €67,407 to €200,565
of which Other amounts receivable: +€130,800
- Debts after one year +€689,888
up €689,888 (+55.7%), from €1.2m to €1.9m
- Other debts +€47,095
up €47,095 (+65.5%), from €71,870 to €118,966
- Reserves -€45,625
down €45,625 (-8.9%), from €511,804 to €466,179
of which Distributable reserves: -€45,625
- Financial charges +€38,975
up €38,975 (+135%), from €28,932 to €67,906
of which Financial charges: +€33,203
- Taxes -€26,380
down €26,380 (-44.9%), from €58,779 to €32,398
- Gross operating margin +€25,447
up €25,447 (+9.8%), from €259,665 to €285,112
- Other operating charges -€4,584
down €4,584 (-26.1%), from €17,566 to €12,982
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,029,598 | €2,713,827 | +€684,229 | +33.7% |
| Fixed assets | 21/28 | €1,638,405 | €2,322,882 | +€684,476 | +41.8% |
| Tangible fixed assets | 22/27 | €1,613,404 | €1,476,681 | -€136,724 | -8.5% |
| Land and buildings | 22 | €328,635 | €302,899 | -€25,736 | -7.8% |
| Furniture and vehicles | 24 | €17,144 | €11,531 | -€5,614 | -32.7% |
| Leasing and similar rights | 25 | €1,082,774 | €1,015,595 | -€67,179 | -6.2% |
| Other tangible fixed assets | 26 | €184,850 | €146,655 | -€38,195 | -20.7% |
| Financial fixed assets | 28 | €25,001 | €846,201 | +€821,200 | +3,285% |
| Current assets | 29/58 | €391,193 | €390,945 | -€248 | -0.1% |
| Amounts receivable within one year | 40/41 | €67,407 | €200,565 | +€133,158 | +198% |
| Trade receivables | 40 | €42,407 | €44,765 | +€2,358 | +5.6% |
| Other amounts receivable | 41 | €25,000 | €155,800 | +€130,800 | +523% |
| Current investments | 50/53 | €598 | €145,915 | +€145,317 | +24,289% |
| Cash at bank and in hand | 54/58 | €317,368 | €37,451 | -€279,917 | -88.2% |
| Deferred charges and accrued income | 490/1 | €5,819 | €7,014 | +€1,195 | +20.5% |
| Total equity and liabilities | 10/49 | €2,029,598 | €2,713,827 | +€684,229 | +33.7% |
| Equity | 10/15 | €524,204 | €478,579 | -€45,625 | -8.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €511,804 | €466,179 | -€45,625 | -8.9% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €474,304 | €428,679 | -€45,625 | -9.6% |
| Amounts payable | 17/49 | €1,505,394 | €2,235,248 | +€729,854 | +48.5% |
| Amounts payable after more than one year | 17 | €1,237,806 | €1,927,693 | +€689,888 | +55.7% |
| Financial debts | 170/4 | €1,237,806 | €1,927,693 | +€689,888 | +55.7% |
| Amounts payable within one year | 42/48 | €258,722 | €281,074 | +€22,352 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €135,808 | €131,312 | -€4,495 | -3.3% |
| Trade debts | 44 | €4,215 | €2,937 | -€1,278 | -30.3% |
| Suppliers | 440/4 | €4,215 | €2,937 | -€1,278 | -30.3% |
| Taxes, remuneration and social security | 45 | €46,829 | €27,859 | -€18,970 | -40.5% |
| Taxes | 450/3 | €45,917 | €27,047 | -€18,870 | -41.1% |
| Remuneration and social security | 454/9 | €912 | €813 | -€99 | -10.9% |
| Other amounts payable | 47/48 | €71,870 | €118,966 | +€47,095 | +65.5% |
| Accrued charges and deferred income | 492/3 | €8,866 | €26,480 | +€17,614 | +199% |
| Non-recurring operating income | 76A | €6,440 | €9,716 | +€3,276 | +50.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,261 | €137,443 | -€2,817 | -2.0% |
| Other operating charges | 640/8 | €17,566 | €12,982 | -€4,584 | -26.1% |
| Non-recurring operating charges | 66A | - | €6,622 | +€6,622 | |
| Gross operating margin | 9900 | €259,665 | €285,112 | +€25,447 | +9.8% |
| Operating profit (loss) | 9901 | €101,838 | €128,065 | +€26,227 | +25.8% |
| Financial income | 75/76B | €10,582 | €7,815 | -€2,767 | -26.1% |
| Recurring financial income | 75 | €10,582 | €7,815 | -€2,767 | -26.1% |
| Financial charges | 65/66B | €28,932 | €67,906 | +€38,975 | +135% |
| Recurring financial charges | 65 | €28,932 | €62,135 | +€33,203 | +115% |
| Non-recurring financial charges | 66B | - | €5,772 | +€5,772 | |
| Profit (loss) for the period before taxes | 9903 | €83,489 | €67,974 | -€15,514 | -18.6% |
| Income taxes | 67/77 | €58,779 | €32,398 | -€26,380 | -44.9% |
| Profit (loss) for the period | 9904 | €24,710 | €35,576 | +€10,866 | +44.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,710 | €35,576 | +€10,866 | +44.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.