Mark Mampaey: 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.
Mark Mampaey
Largest movements
- Cash +€99,427
up €99,427 (+202%), from €49,273 to €148,700
mainly Net result for the year (+€83,743) and Tax, wage and social debts (+€22,694)
- Receivables within one year +€5,365
up €5,365 (+46.2%), from €11,616 to €16,981
of which Trade receivables: +€3,775
- Reserves +€83,743
up €83,743 (+227%), from €36,958 to €120,701
- Tax, wage and social debts +€22,694
up €22,694 (+119%), from €19,064 to €41,758
- Other debts -€1,832
no longer reported in 2025 (was €1,832)
- Gross operating margin +€60,166
up €60,166 (+124%), from €48,428 to €108,594
- Taxes +€12,202
up €12,202 (+127%), from €9,620 to €21,822
- Financial charges +€2,027
up €2,027 (+5,742%), from €35 to €2,062
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 | €62,400 | €166,387 | +€103,987 | +167% |
| Formation expenses | 20 | €463 | - | -€463 | |
| Fixed assets | 21/28 | €776 | €458 | -€317 | -40.9% |
| Tangible fixed assets | 22/27 | €776 | €458 | -€317 | -40.9% |
| Furniture and vehicles | 24 | €776 | €458 | -€317 | -40.9% |
| Current assets | 29/58 | €61,161 | €165,929 | +€104,768 | +171% |
| Amounts receivable within one year | 40/41 | €11,616 | €16,981 | +€5,365 | +46.2% |
| Trade receivables | 40 | €11,616 | €15,391 | +€3,775 | +32.5% |
| Other amounts receivable | 41 | - | €1,589 | +€1,589 | |
| Cash at bank and in hand | 54/58 | €49,273 | €148,700 | +€99,427 | +202% |
| Deferred charges and accrued income | 490/1 | €272 | €249 | -€24 | -8.7% |
| Total equity and liabilities | 10/49 | €62,400 | €166,387 | +€103,987 | +167% |
| Equity | 10/15 | €39,958 | €123,701 | +€83,743 | +210% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €36,958 | €120,701 | +€83,743 | +227% |
| Distributable reserves | 133 | €36,958 | €120,701 | +€83,743 | +227% |
| Amounts payable | 17/49 | €22,442 | €42,686 | +€20,244 | +90.2% |
| Amounts payable within one year | 42/48 | €22,442 | €42,686 | +€20,244 | +90.2% |
| Trade debts | 44 | €1,546 | €929 | -€617 | -39.9% |
| Suppliers | 440/4 | €1,546 | €929 | -€617 | -39.9% |
| Taxes, remuneration and social security | 45 | €19,064 | €41,758 | +€22,694 | +119% |
| Taxes | 450/3 | €19,064 | €41,758 | +€22,694 | +119% |
| Other amounts payable | 47/48 | €1,832 | - | -€1,832 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,613 | €781 | -€833 | -51.6% |
| Other operating charges | 640/8 | €202 | €186 | -€16 | -7.8% |
| Gross operating margin | 9900 | €48,428 | €108,594 | +€60,166 | +124% |
| Operating profit (loss) | 9901 | €46,613 | €107,628 | +€61,015 | +131% |
| Financial income | 75/76B | €0 | €0 | -€0 | -97.1% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -97.1% |
| Financial charges | 65/66B | €35 | €2,062 | +€2,027 | +5,742% |
| Recurring financial charges | 65 | €35 | €2,062 | +€2,027 | +5,742% |
| Profit (loss) for the period before taxes | 9903 | €46,578 | €105,565 | +€58,988 | +127% |
| Income taxes | 67/77 | €9,620 | €21,822 | +€12,202 | +127% |
| Profit (loss) for the period | 9904 | €36,958 | €83,743 | +€46,786 | +127% |
| Profit (loss) for the period to be appropriated | 9905 | €36,958 | €83,743 | +€46,786 | +127% |
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 25 October 2026 via checked.be.