MAPO-FOOD: what changed
Two financial 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.
MAPO-FOOD
Largest movements
- Current investments +€3.4m
up €3.4m (+172%), from €2.0m to €5.3m
- Cash +€315,516
up €315,516 (+547%), from €57,732 to €373,248
- Profit (loss) carried forward +€4.4m
up €4.4m (+952%), from €462,416 to €4.9m
- Other debts -€743,684
down €743,684 (-46.9%), from €1.6m to €842,983
- Financial income +€4.4m
up €4.4m (+3,350%), from €131,866 to €4.5m
- Taxes +€139,889
up €139,889 (+664%), from €21,074 to €160,963
- Gross operating margin -€75,050
down €75,050, from €56,781 to -€18,269
- Financial charges +€29,469
up €29,469 (+33.3%), from €88,510 to €117,980
- Staff costs -€21,973
no longer reported in 2025 (was €21,973)
From the 2023 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.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,523,726 | €16,169,964 | +€3.6m | +29.1% |
| Fixed assets | 21/28 | €10,409,149 | €10,382,688 | -€26,462 | -0.3% |
| Tangible fixed assets | 22/27 | €85,248 | €54,787 | -€30,462 | -35.7% |
| Land and buildings | 22 | €85,248 | €54,787 | -€30,462 | -35.7% |
| Financial fixed assets | 28 | €10,323,901 | €10,327,901 | +€4,000 | 0.0% |
| Current assets | 29/58 | €2,114,576 | €5,787,276 | +€3.7m | +174% |
| Amounts receivable within one year | 40/41 | €102,407 | €101,555 | -€851 | -0.8% |
| Other amounts receivable | 41 | €102,407 | €101,555 | -€851 | -0.8% |
| Current investments | 50/53 | €1,951,602 | €5,307,563 | +€3.4m | +172% |
| Cash at bank and in hand | 54/58 | €57,732 | €373,248 | +€315,516 | +547% |
| Deferred charges and accrued income | 490/1 | €2,836 | €4,909 | +€2,074 | +73.1% |
| Total equity and liabilities | 10/49 | €12,523,726 | €16,169,964 | +€3.6m | +29.1% |
| Equity | 10/15 | €10,874,275 | €15,267,583 | +€4.4m | +40.4% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €10,100,000 | €10,100,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Distributable reserves | 133 | €10,000,000 | €10,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €462,416 | €4,866,504 | +€4.4m | +952% |
| Investment grants | 15 | €11,860 | €1,078 | -€10,782 | -90.9% |
| Amounts payable | 17/49 | €1,649,450 | €902,381 | -€747,069 | -45.3% |
| Amounts payable within one year | 42/48 | €1,588,727 | €843,037 | -€745,690 | -46.9% |
| Trade debts | 44 | €1,453 | €54 | -€1,399 | -96.3% |
| Suppliers | 440/4 | €1,453 | €54 | -€1,399 | -96.3% |
| Taxes, remuneration and social security | 45 | €608 | - | -€608 | |
| Taxes | 450/3 | €558 | - | -€558 | |
| Remuneration and social security | 454/9 | €50 | - | -€50 | |
| Other amounts payable | 47/48 | €1,586,667 | €842,983 | -€743,684 | -46.9% |
| Accrued charges and deferred income | 492/3 | €60,723 | €59,344 | -€1,379 | -2.3% |
| Non-recurring operating income | 76A | €1,500 | €2,231 | +€731 | +48.8% |
| Remuneration, social security and pensions | 62 | €21,973 | - | -€21,973 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,231 | €15,231 | = | 0.0% |
| Other operating charges | 640/8 | €474 | €46 | -€428 | -90.3% |
| Gross operating margin | 9900 | €56,781 | -€18,269 | -€75,050 | |
| Operating profit (loss) | 9901 | €19,104 | -€33,546 | -€52,650 | |
| Financial income | 75/76B | €131,866 | €4,549,731 | +€4.4m | +3,350% |
| Recurring financial income | 75 | €131,866 | €4,549,731 | +€4.4m | +3,350% |
| Financial charges | 65/66B | €88,510 | €117,980 | +€29,469 | +33.3% |
| Recurring financial charges | 65 | €88,510 | €117,980 | +€29,469 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | €62,459 | €4,398,205 | +€4.3m | +6,942% |
| Income taxes | 67/77 | €21,074 | €160,963 | +€139,889 | +664% |
| Profit (loss) for the period | 9904 | €41,386 | €4,237,243 | +€4.2m | +10,138% |
| Profit (loss) for the period to be appropriated | 9905 | €41,386 | €4,237,243 | +€4.2m | +10,138% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.