MAUBERT: 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.
MAUBERT
Largest movements
- Cash +€697,313
up €697,313 (+2084.5%), from €33,452 to €730,764
mainly Net result for the year (+€451,578) and Other debts (+€430,000)
- Tangible fixed assets +€660,793
up €660,793 (+203.6%), from €324,545 to €985,337
of which Land and buildings: +€621,290
- Receivables within one year -€23,097
down €23,097 (-47.4%), from €48,772 to €25,675
of which Other amounts receivable: -€24,967
- Revaluation surpluses +€820,555
up €820,555 (+1611.9%), from €50,907 to €871,462
- Other debts +€430,000
up €430,000 (+7020.4%), from €6,125 to €436,125
- Tax, wage and social debts +€165,506
up €165,506 (+2934.8%), from €5,639 to €171,146
- Debts after one year -€63,270
no longer reported in 2025 (was €63,270)
- Current portion of long-term debt -€21,755
no longer reported in 2025 (was €21,755)
- Gross operating margin +€565,398
up €565,398 (+1111.2%), from €50,881 to €616,278
- Taxes +€162,946
up €162,946 (+2889.4%), from €5,639 to €168,586
- Provisions -€20,000
new in 2025: -€20,000
- Depreciation -€8,046
down €8,046 (-76.1%), from €10,576 to €2,531
- Write-downs -€6,674
no longer reported in 2025 (was €6,674)
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 | €409,368 | €1,741,777 | +€1.3m | +325.5% |
| Fixed assets | 21/28 | €324,545 | €985,337 | +€660,793 | +203.6% |
| Tangible fixed assets | 22/27 | €324,545 | €985,337 | +€660,793 | +203.6% |
| Land and buildings | 22 | €318,710 | €940,000 | +€621,290 | +194.9% |
| Plant, machinery and equipment | 23 | €5,834 | €45,337 | +€39,503 | +677.1% |
| Current assets | 29/58 | €84,824 | €756,439 | +€671,616 | +791.8% |
| Amounts receivable within one year | 40/41 | €48,772 | €25,675 | -€23,097 | -47.4% |
| Trade receivables | 40 | €400 | €2,269 | +€1,869 | +467.4% |
| Other amounts receivable | 41 | €48,372 | €23,406 | -€24,967 | -51.6% |
| Cash at bank and in hand | 54/58 | €33,452 | €730,764 | +€697,313 | +2084.5% |
| Deferred charges and accrued income | 490/1 | €2,600 | - | -€2,600 | |
| Total equity and liabilities | 10/49 | €409,368 | €1,741,777 | +€1.3m | +325.5% |
| Equity | 10/15 | €291,816 | €1,133,949 | +€842,133 | +288.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €50,907 | €871,462 | +€820,555 | +1611.9% |
| Reserves | 13 | €106,093 | €106,093 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €99,893 | €99,893 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,817 | €94,394 | +€21,578 | +29.6% |
| Provisions and deferred taxes | 16 | €20,000 | - | -€20,000 | |
| Provisions for liabilities and charges | 160/5 | €20,000 | - | -€20,000 | |
| Major repairs and maintenance | 162 | €20,000 | - | -€20,000 | |
| Amounts payable | 17/49 | €97,552 | €607,828 | +€510,276 | +523.1% |
| Amounts payable after more than one year | 17 | €63,270 | - | -€63,270 | |
| Financial debts | 170/4 | €63,270 | - | -€63,270 | |
| Amounts payable within one year | 42/48 | €34,282 | €607,828 | +€573,546 | +1673.0% |
| Current portion of amounts payable after more than one year | 42 | €21,755 | - | -€21,755 | |
| Trade debts | 44 | €763 | €557 | -€206 | -27.0% |
| Suppliers | 440/4 | €763 | €557 | -€206 | -27.0% |
| Taxes, remuneration and social security | 45 | €5,639 | €171,146 | +€165,506 | +2934.8% |
| Taxes | 450/3 | €5,639 | €171,146 | +€165,506 | +2934.8% |
| Other amounts payable | 47/48 | €6,125 | €436,125 | +€430,000 | +7020.4% |
| Non-recurring operating income | 76A | - | €577,432 | +€577,432 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,576 | €2,531 | -€8,046 | -76.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,674 | - | -€6,674 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€20,000 | -€20,000 | |
| Other operating charges | 640/8 | €6,590 | €7,282 | +€692 | +10.5% |
| Gross operating margin | 9900 | €50,881 | €616,278 | +€565,398 | +1111.2% |
| Operating profit (loss) | 9901 | €27,040 | €626,466 | +€599,426 | +2216.8% |
| Financial charges | 65/66B | €6,345 | €6,302 | -€43 | -0.7% |
| Recurring financial charges | 65 | €6,345 | €6,302 | -€43 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €20,695 | €620,164 | +€599,469 | +2896.7% |
| Income taxes | 67/77 | €5,639 | €168,586 | +€162,946 | +2889.4% |
| Profit (loss) for the period | 9904 | €15,056 | €451,578 | +€436,522 | +2899.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,056 | €451,578 | +€436,522 | +2899.4% |
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 3 October 2026 via checked.be.