MAPLA: 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.
What changed
MAPLA
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€543,646
2024 · €287,948+€255,698
Equity
€4.7m
2024 · €4.2m+€543,646
Cash
€77,172
2024 · €278,217-€201,045
Balance sheet total
€18.7m
2024 · €18.0m+€621,676
Largest movements
Assets
- Receivables within one year +€472,987
up €472,987 (+1009.6%), from €46,850 to €519,837
- Cash -€201,045
down €201,045 (-72.3%), from €278,217 to €77,172
mainly Investment in fixed assets (net) (-€664,971) and Receivables within one year (-€472,987)
Equity and liabilities
- Profit (loss) carried forward +€543,646
up €543,646 (+14.4%), from €3.8m to €4.3m
- Debts after one year +€464,179
up €464,179 (+5.2%), from €9.0m to €9.4m
- Current portion of long-term debt -€306,549
down €306,549 (-30.1%), from €1.0m to €711,115
Income statement
- Financial income +€139,625
up €139,625 (+354.6%), from €39,371 to €178,996
- Gross operating margin +€133,294
up €133,294 (+9.1%), from €1.5m to €1.6m
- Financial charges -€67,300
down €67,300 (-9.3%), from €726,160 to €658,860
- Taxes +€47,825
up €47,825 (+27328.6%), from €175 to €48,000
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.
Result 2024
€287,948
Gross operating margin
+€133,294
Staff costs
-€1,257
Depreciation
-€9,720
Write-downs
-€11,250
Provisions
-€6,005
Other operating charges
-€8,464
Financial income
+€139,625
Financial charges
+€67,300
Taxes
-€47,825
Result 2025
€543,646
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.
From operations
+€306,296
Investment
-€664,971
Financing
+€157,630
Cash 2024
€278,217
From operations (derived)
+€306,296
Net result for the year
+€543,646
Depreciation
+€343,473
Receivables within one year
-€472,987
Deferred charges and accrued income
-€28,236
Provisions
-€53,341
Trade debts
-€3,253
Tax, wage and social debts
+€19,006
Other debts
-€43,495
Accrued charges and deferred income
+€1,483
Investment (derived)
-€664,971
Investment in fixed assets (net)
-€664,971
Financing
+€157,630
Debts after one year
+€464,179
Current portion of long-term debt
-€306,549
Cash 2025
€77,172
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,030,356 | €18,652,032 | +€621,676 | +3.4% |
| Fixed assets | 21/28 | €17,696,848 | €18,018,346 | +€321,498 | +1.8% |
| Tangible fixed assets | 22/27 | €9,548,908 | €9,724,412 | +€175,504 | +1.8% |
| Land and buildings | 22 | €9,519,061 | €9,704,359 | +€185,298 | +1.9% |
| Furniture and vehicles | 24 | €29,847 | €20,053 | -€9,794 | -32.8% |
| Financial fixed assets | 28 | €8,147,940 | €8,293,934 | +€145,994 | +1.8% |
| Current assets | 29/58 | €333,508 | €633,686 | +€300,178 | +90.0% |
| Amounts receivable within one year | 40/41 | €46,850 | €519,837 | +€472,987 | +1009.6% |
| Other amounts receivable | 41 | €46,850 | €519,837 | +€472,987 | +1009.6% |
| Cash at bank and in hand | 54/58 | €278,217 | €77,172 | -€201,045 | -72.3% |
| Deferred charges and accrued income | 490/1 | €8,441 | €36,677 | +€28,236 | +334.5% |
| Total equity and liabilities | 10/49 | €18,030,356 | €18,652,032 | +€621,676 | +3.4% |
| Equity | 10/15 | €4,168,282 | €4,711,928 | +€543,646 | +13.0% |
| Contributions | 10/11 | €397,099 | €397,099 | = | 0.0% |
| Outside capital | 11 | €397,099 | - | -€397,099 | |
| Other | 1109/19 | €397,099 | - | -€397,099 | |
| Profit (loss) carried forward | 14 | €3,771,183 | €4,314,829 | +€543,646 | +14.4% |
| Provisions and deferred taxes | 16 | €3,294,553 | €3,241,212 | -€53,341 | -1.6% |
| Provisions for liabilities and charges | 160/5 | €3,294,553 | €3,241,212 | -€53,341 | -1.6% |
| Pensions and similar obligations | 160 | €3,294,553 | €3,241,212 | -€53,341 | -1.6% |
| Amounts payable | 17/49 | €10,567,521 | €10,698,892 | +€131,371 | +1.2% |
| Amounts payable after more than one year | 17 | €8,969,471 | €9,433,650 | +€464,179 | +5.2% |
| Financial debts | 170/4 | €8,969,471 | €9,433,650 | +€464,179 | +5.2% |
| Amounts payable within one year | 42/48 | €1,543,238 | €1,208,947 | -€334,291 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | €1,017,664 | €711,115 | -€306,549 | -30.1% |
| Trade debts | 44 | €16,525 | €13,272 | -€3,253 | -19.7% |
| Suppliers | 440/4 | €16,525 | €13,272 | -€3,253 | -19.7% |
| Taxes, remuneration and social security | 45 | €39,625 | €58,631 | +€19,006 | +48.0% |
| Taxes | 450/3 | €37,603 | €56,483 | +€18,880 | +50.2% |
| Remuneration and social security | 454/9 | €2,022 | €2,148 | +€126 | +6.2% |
| Other amounts payable | 47/48 | €469,424 | €425,929 | -€43,495 | -9.3% |
| Accrued charges and deferred income | 492/3 | €54,812 | €56,295 | +€1,483 | +2.7% |
| Remuneration, social security and pensions | 62 | €15,823 | €17,080 | +€1,257 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €333,753 | €343,473 | +€9,720 | +2.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €11,250 | +€11,250 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €82,623 | €88,628 | +€6,005 | +7.3% |
| Other operating charges | 640/8 | €49,754 | €58,218 | +€8,464 | +17.0% |
| Gross operating margin | 9900 | €1,456,865 | €1,590,159 | +€133,294 | +9.1% |
| Operating profit (loss) | 9901 | €974,912 | €1,071,510 | +€96,598 | +9.9% |
| Financial income | 75/76B | €39,371 | €178,996 | +€139,625 | +354.6% |
| Recurring financial income | 75 | €39,371 | €178,996 | +€139,625 | +354.6% |
| Financial charges | 65/66B | €726,160 | €658,860 | -€67,300 | -9.3% |
| Recurring financial charges | 65 | €726,160 | €658,860 | -€67,300 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €288,123 | €591,646 | +€303,523 | +105.3% |
| Income taxes | 67/77 | €175 | €48,000 | +€47,825 | +27328.6% |
| Profit (loss) for the period | 9904 | €287,948 | €543,646 | +€255,698 | +88.8% |
| Profit (loss) for the period to be appropriated | 9905 | €287,948 | €543,646 | +€255,698 | +88.8% |
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 1 October 2026 via checked.be.