MAUFROY ROBERT: 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.
MAUFROY ROBERT
Largest movements
- Cash +€42,575
up €42,575 (+25.7%), from €165,654 to €208,228
mainly Depreciation (+€32,668) and Net result for the year (+€31,070)
- Tangible fixed assets -€31,249
down €31,249 (-23.0%), from €135,837 to €104,588
of which Leasing and similar rights: -€21,319
- Reserves +€22,070
up €22,070 (+28.7%), from €76,815 to €98,884
of which Distributable reserves: +€22,070
- Trade debts +€15,728
up €15,728 (+1115.8%), from €1,410 to €17,138
- Debts after one year -€14,619
down €14,619 (-26.4%), from €55,282 to €40,663
- Tax, wage and social debts -€8,150
no longer reported in 2025 (was €8,150)
of which Taxes: -€5,350
- Financial income +€33,611
up €33,611 (+1497.2%), from €2,245 to €35,855
of which Non-recurring financial income: +€33,869
- Gross operating margin -€32,673
down €32,673 (-39.5%), from €82,806 to €50,133
- Depreciation +€11,049
up €11,049 (+51.1%), from €21,619 to €32,668
- Other operating charges -€3,052
down €3,052 (-46.0%), from €6,631 to €3,579
- Taxes -€2,186
down €2,186 (-13.8%), from €15,869 to €13,683
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 | €402,341 | €422,148 | +€19,807 | +4.9% |
| Fixed assets | 21/28 | €135,837 | €104,588 | -€31,249 | -23.0% |
| Tangible fixed assets | 22/27 | €135,837 | €104,588 | -€31,249 | -23.0% |
| Plant, machinery and equipment | 23 | €2,607 | €1,040 | -€1,567 | -60.1% |
| Furniture and vehicles | 24 | €37,293 | €28,931 | -€8,363 | -22.4% |
| Leasing and similar rights | 25 | €95,936 | €74,617 | -€21,319 | -22.2% |
| Current assets | 29/58 | €266,505 | €317,560 | +€51,055 | +19.2% |
| Stocks and contracts in progress | 3 | €25,700 | €28,411 | +€2,711 | +10.5% |
| Stocks | 30/36 | €25,700 | €28,411 | +€2,711 | +10.5% |
| Amounts receivable within one year | 40/41 | €71,521 | €74,213 | +€2,693 | +3.8% |
| Trade receivables | 40 | €69,457 | €72,606 | +€3,149 | +4.5% |
| Other amounts receivable | 41 | €2,064 | €1,607 | -€457 | -22.1% |
| Cash at bank and in hand | 54/58 | €165,654 | €208,228 | +€42,575 | +25.7% |
| Deferred charges and accrued income | 490/1 | €3,630 | €6,708 | +€3,078 | +84.8% |
| Total equity and liabilities | 10/49 | €402,341 | €422,148 | +€19,807 | +4.9% |
| Equity | 10/15 | €294,969 | €317,039 | +€22,070 | +7.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €76,815 | €98,884 | +€22,070 | +28.7% |
| Tax-exempt reserves | 132 | €9,205 | €9,205 | = | 0.0% |
| Distributable reserves | 133 | €67,610 | €89,680 | +€22,070 | +32.6% |
| Profit (loss) carried forward | 14 | €199,555 | €199,555 | +€0 | 0.0% |
| Amounts payable | 17/49 | €107,372 | €105,109 | -€2,263 | -2.1% |
| Amounts payable after more than one year | 17 | €55,282 | €40,663 | -€14,619 | -26.4% |
| Financial debts | 170/4 | €55,282 | €40,663 | -€14,619 | -26.4% |
| Amounts payable within one year | 42/48 | €52,090 | €64,446 | +€12,356 | +23.7% |
| Current portion of amounts payable after more than one year | 42 | €14,031 | €14,619 | +€588 | +4.2% |
| Trade debts | 44 | €1,410 | €17,138 | +€15,728 | +1115.8% |
| Suppliers | 440/4 | €1,410 | €17,138 | +€15,728 | +1115.8% |
| Taxes, remuneration and social security | 45 | €8,150 | - | -€8,150 | |
| Taxes | 450/3 | €5,350 | - | -€5,350 | |
| Remuneration and social security | 454/9 | €2,800 | - | -€2,800 | |
| Other amounts payable | 47/48 | €28,500 | €32,690 | +€4,190 | +14.7% |
| Remuneration, social security and pensions | 62 | €95 | - | -€95 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,619 | €32,668 | +€11,049 | +51.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,013 | +€1,013 | |
| Other operating charges | 640/8 | €6,631 | €3,579 | -€3,052 | -46.0% |
| Gross operating margin | 9900 | €82,806 | €50,133 | -€32,673 | -39.5% |
| Operating profit (loss) | 9901 | €54,461 | €12,873 | -€41,588 | -76.4% |
| Financial income | 75/76B | €2,245 | €35,855 | +€33,611 | +1497.2% |
| Recurring financial income | 75 | €1,114 | €855 | -€259 | -23.2% |
| Non-recurring financial income | 76B | €1,131 | €35,000 | +€33,869 | +2995.0% |
| Financial charges | 65/66B | €2,301 | €3,976 | +€1,676 | +72.8% |
| Recurring financial charges | 65 | €2,301 | €3,976 | +€1,676 | +72.8% |
| Profit (loss) for the period before taxes | 9903 | €54,405 | €44,752 | -€9,652 | -17.7% |
| Income taxes | 67/77 | €15,869 | €13,683 | -€2,186 | -13.8% |
| Profit (loss) for the period | 9904 | €38,536 | €31,070 | -€7,466 | -19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €38,536 | €31,070 | -€7,466 | -19.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.