MAQUMASA: 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.
MAQUMASA
Largest movements
- Cash +€49,669
up €49,669 (+409%), from €12,132 to €61,801
mainly Net result for the year (+€94,658) and Other debts (+€52,181)
- Current investments -€30,164
no longer reported in 2025 (was €30,164)
- Deferred charges and accrued income -€8,105
down €8,105 (-51.3%), from €15,806 to €7,701
- Receivables after one year -€7,500
no longer reported in 2025 (was €7,500)
- Tangible fixed assets -€7,218
down €7,218 (-16.9%), from €42,753 to €35,535
of which Other tangible fixed assets: -€4,375
- Profit (loss) carried forward -€75,190
no longer reported in 2025 (was €75,190)
- Other debts +€52,181
up €52,181 (+83.0%), from €62,885 to €115,066
- Reserves +€14,658
up €14,658 (+790%), from €1,855 to €16,513
of which Distributable reserves: +€14,658
- Tax, wage and social debts +€4,228
up €4,228 (+25.5%), from €16,556 to €20,783
of which Remuneration and social security: +€2,656
- Gross operating margin +€19,170
up €19,170 (+18.0%), from €106,512 to €125,682
- Taxes +€6,130
up €6,130 (+30.2%), from €20,313 to €26,443
- Financial income +€6,044
up €6,044 (+534%), from €1,133 to €7,177
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.
Derived cash bridge
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 | €183,557 | €178,653 | -€4,904 | -2.7% |
| Fixed assets | 21/28 | €46,353 | €39,135 | -€7,218 | -15.6% |
| Tangible fixed assets | 22/27 | €42,753 | €35,535 | -€7,218 | -16.9% |
| Plant, machinery and equipment | 23 | €7,469 | €6,271 | -€1,198 | -16.0% |
| Furniture and vehicles | 24 | €5,669 | €4,024 | -€1,645 | -29.0% |
| Other tangible fixed assets | 26 | €29,615 | €25,240 | -€4,375 | -14.8% |
| Financial fixed assets | 28 | €3,600 | €3,600 | = | 0.0% |
| Current assets | 29/58 | €137,204 | €139,518 | +€2,314 | +1.7% |
| Amounts receivable after more than one year | 29 | €7,500 | - | -€7,500 | |
| Other amounts receivable | 291 | €7,500 | - | -€7,500 | |
| Stocks and contracts in progress | 3 | €410 | €9 | -€401 | -97.7% |
| Stocks | 30/36 | €410 | €9 | -€401 | -97.7% |
| Amounts receivable within one year | 40/41 | €71,193 | €70,006 | -€1,187 | -1.7% |
| Trade receivables | 40 | €47,645 | €37,932 | -€9,713 | -20.4% |
| Other amounts receivable | 41 | €23,548 | €32,074 | +€8,526 | +36.2% |
| Current investments | 50/53 | €30,164 | - | -€30,164 | |
| Cash at bank and in hand | 54/58 | €12,132 | €61,801 | +€49,669 | +409% |
| Deferred charges and accrued income | 490/1 | €15,806 | €7,701 | -€8,105 | -51.3% |
| Total equity and liabilities | 10/49 | €183,557 | €178,653 | -€4,904 | -2.7% |
| Equity | 10/15 | €95,595 | €35,063 | -€60,532 | -63.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €16,513 | +€14,658 | +790% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | - | €14,658 | +€14,658 | |
| Profit (loss) carried forward | 14 | €75,190 | - | -€75,190 | |
| Amounts payable | 17/49 | €87,962 | €143,590 | +€55,628 | +63.2% |
| Amounts payable within one year | 42/48 | €87,962 | €143,590 | +€55,628 | +63.2% |
| Trade debts | 44 | €8,303 | €7,711 | -€591 | -7.1% |
| Suppliers | 440/4 | €8,303 | €7,711 | -€591 | -7.1% |
| Advances received on contracts in progress | 46 | €218 | €30 | -€189 | -86.4% |
| Taxes, remuneration and social security | 45 | €16,556 | €20,783 | +€4,228 | +25.5% |
| Taxes | 450/3 | €16,556 | €18,128 | +€1,572 | +9.5% |
| Remuneration and social security | 454/9 | - | €2,656 | +€2,656 | |
| Other amounts payable | 47/48 | €62,885 | €115,066 | +€52,181 | +83.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,662 | €9,155 | -€507 | -5.2% |
| Other operating charges | 640/8 | €634 | €817 | +€183 | +28.8% |
| Non-recurring operating charges | 66A | - | €412 | +€412 | |
| Gross operating margin | 9900 | €106,512 | €125,682 | +€19,170 | +18.0% |
| Operating profit (loss) | 9901 | €96,216 | €115,298 | +€19,082 | +19.8% |
| Financial income | 75/76B | €1,133 | €7,177 | +€6,044 | +534% |
| Recurring financial income | 75 | €1,133 | €7,177 | +€6,044 | +534% |
| Financial charges | 65/66B | €1,845 | €1,373 | -€472 | -25.6% |
| Recurring financial charges | 65 | €1,845 | €1,373 | -€472 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | €95,503 | €121,101 | +€25,598 | +26.8% |
| Income taxes | 67/77 | €20,313 | €26,443 | +€6,130 | +30.2% |
| Profit (loss) for the period | 9904 | €75,190 | €94,658 | +€19,468 | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €75,190 | €94,658 | +€19,468 | +25.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.