MAPO PRINT: 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.
MAPO PRINT
Largest movements
- Receivables within one year +€214,118
up €214,118 (+3605.3%), from €5,939 to €220,057
of which Trade receivables: +€207,422
- Tangible fixed assets -€29,236
down €29,236 (-12.9%), from €226,796 to €197,559
of which Plant, machinery and equipment: -€21,224
- Profit (loss) carried forward -€202,593
down €202,593 (-22.6%), from -€895,356 to -€1.1m
- Debts after one year +€199,354
up €199,354 (+90.3%), from €220,796 to €420,150
- Accrued charges and deferred income +€81,901
up €81,901 (+69.5%), from €117,789 to €199,690
- Other debts +€46,672
up €46,672 (+13.9%), from €336,277 to €382,949
- Trade debts +€43,838
up €43,838 (+323.6%), from €13,545 to €57,383
- Gross operating margin -€39,026
down €39,026 (-160.4%), from -€24,330 to -€63,356
- Financial charges +€16,079
up €16,079 (+137.1%), from €11,730 to €27,809
- Staff costs +€7,050
up €7,050 (+21.6%), from €32,627 to €39,677
- Other operating charges +€3,938
up €3,938 (+129.2%), from €3,048 to €6,986
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 | €247,599 | €426,726 | +€179,127 | +72.3% |
| Fixed assets | 21/28 | €226,796 | €197,559 | -€29,236 | -12.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €226,796 | €197,559 | -€29,236 | -12.9% |
| Plant, machinery and equipment | 23 | €186,629 | €165,405 | -€21,224 | -11.4% |
| Other tangible fixed assets | 26 | €40,167 | €32,155 | -€8,012 | -19.9% |
| Current assets | 29/58 | €20,804 | €229,167 | +€208,363 | +1001.6% |
| Stocks and contracts in progress | 3 | €11,167 | €7,558 | -€3,608 | -32.3% |
| Stocks | 30/36 | €11,167 | €7,558 | -€3,608 | -32.3% |
| Amounts receivable within one year | 40/41 | €5,939 | €220,057 | +€214,118 | +3605.3% |
| Trade receivables | 40 | €5,939 | €213,360 | +€207,422 | +3492.6% |
| Other amounts receivable | 41 | €0 | €6,697 | +€6,697 | |
| Cash at bank and in hand | 54/58 | €3,364 | €1,176 | -€2,188 | -65.0% |
| Deferred charges and accrued income | 490/1 | €334 | €375 | +€41 | +12.3% |
| Total equity and liabilities | 10/49 | €247,599 | €426,726 | +€179,127 | +72.3% |
| Equity | 10/15 | -€795,356 | -€997,949 | -€202,593 | -25.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€895,356 | -€1,097,949 | -€202,593 | -22.6% |
| Amounts payable | 17/49 | €1,042,955 | €1,424,675 | +€381,720 | +36.6% |
| Amounts payable after more than one year | 17 | €220,796 | €420,150 | +€199,354 | +90.3% |
| Financial debts | 170/4 | €220,796 | €420,150 | +€199,354 | +90.3% |
| Amounts payable within one year | 42/48 | €704,370 | €804,835 | +€100,465 | +14.3% |
| Current portion of amounts payable after more than one year | 42 | €340,157 | €353,146 | +€12,990 | +3.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €13,545 | €57,383 | +€43,838 | +323.6% |
| Suppliers | 440/4 | €13,545 | €57,383 | +€43,838 | +323.6% |
| Taxes, remuneration and social security | 45 | €14,391 | €11,356 | -€3,035 | -21.1% |
| Taxes | 450/3 | €9,234 | €8,198 | -€1,037 | -11.2% |
| Remuneration and social security | 454/9 | €5,156 | €3,158 | -€1,998 | -38.7% |
| Other amounts payable | 47/48 | €336,277 | €382,949 | +€46,672 | +13.9% |
| Accrued charges and deferred income | 492/3 | €117,789 | €199,690 | +€81,901 | +69.5% |
| Non-recurring operating income | 76A | €176 | €408 | +€232 | +131.4% |
| Remuneration, social security and pensions | 62 | €32,627 | €39,677 | +€7,050 | +21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,874 | €64,765 | -€109 | -0.2% |
| Other operating charges | 640/8 | €3,048 | €6,986 | +€3,938 | +129.2% |
| Gross operating margin | 9900 | -€24,330 | -€63,356 | -€39,026 | -160.4% |
| Operating profit (loss) | 9901 | -€124,879 | -€174,784 | -€49,905 | -40.0% |
| Financial income | 75/76B | €4 | €0 | -€4 | -100.0% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -100.0% |
| Financial charges | 65/66B | €11,730 | €27,809 | +€16,079 | +137.1% |
| Recurring financial charges | 65 | €11,730 | €27,809 | +€16,079 | +137.1% |
| Profit (loss) for the period before taxes | 9903 | -€136,605 | -€202,593 | -€65,988 | -48.3% |
| Profit (loss) for the period | 9904 | -€136,605 | -€202,593 | -€65,988 | -48.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€136,605 | -€202,593 | -€65,988 | -48.3% |
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.