Mauga: 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.
Mauga
Largest movements
- Cash -€24,949
down €24,949 (-36.5%), from €68,284 to €43,335
mainly Contributions, distributions and other (-€102,347) and Investment in fixed assets (net) (-€30,140)
- Receivables within one year +€22,531
up €22,531 (+61.0%), from €36,946 to €59,477
of which Trade receivables: +€23,931
- Tangible fixed assets +€17,564
up €17,564 (+53.5%), from €32,805 to €50,369
of which Other tangible fixed assets: +€23,952
- Other debts +€69,245
up €69,245 (+2765.5%), from €2,504 to €71,749
- Reserves -€35,771
down €35,771 (-38.3%), from €93,511 to €57,739
- Trade debts -€14,496
down €14,496 (-75.7%), from €19,145 to €4,648
- Current portion of long-term debt -€8,125
down €8,125 (-100.0%), from €8,125 to €0
- Tax, wage and social debts +€3,812
up €3,812 (+33.7%), from €11,324 to €15,136
of which Taxes: +€3,902
- Gross operating margin +€42,589
up €42,589 (+75.0%), from €56,820 to €99,409
- Taxes +€7,845
up €7,845 (+72.1%), from €10,874 to €18,719
- Depreciation +€4,723
up €4,723 (+60.1%), from €7,853 to €12,575
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 | €139,608 | €154,484 | +€14,876 | +10.7% |
| Fixed assets | 21/28 | €32,805 | €50,369 | +€17,564 | +53.5% |
| Tangible fixed assets | 22/27 | €32,805 | €50,369 | +€17,564 | +53.5% |
| Furniture and vehicles | 24 | €18,916 | €12,528 | -€6,388 | -33.8% |
| Other tangible fixed assets | 26 | €13,888 | €37,840 | +€23,952 | +172.5% |
| Current assets | 29/58 | €106,804 | €104,116 | -€2,688 | -2.5% |
| Amounts receivable within one year | 40/41 | €36,946 | €59,477 | +€22,531 | +61.0% |
| Trade receivables | 40 | €34,820 | €58,751 | +€23,931 | +68.7% |
| Other amounts receivable | 41 | €2,126 | €726 | -€1,400 | -65.8% |
| Cash at bank and in hand | 54/58 | €68,284 | €43,335 | -€24,949 | -36.5% |
| Deferred charges and accrued income | 490/1 | €1,573 | €1,304 | -€270 | -17.2% |
| Total equity and liabilities | 10/49 | €139,608 | €154,484 | +€14,876 | +10.7% |
| Equity | 10/15 | €98,511 | €62,739 | -€35,771 | -36.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €93,511 | €57,739 | -€35,771 | -38.3% |
| Distributable reserves | 133 | €93,511 | €57,739 | -€35,771 | -38.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €41,098 | €91,745 | +€50,647 | +123.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €41,098 | €91,533 | +€50,435 | +122.7% |
| Current portion of amounts payable after more than one year | 42 | €8,125 | €0 | -€8,125 | -100.0% |
| Trade debts | 44 | €19,145 | €4,648 | -€14,496 | -75.7% |
| Suppliers | 440/4 | €19,145 | €4,648 | -€14,496 | -75.7% |
| Taxes, remuneration and social security | 45 | €11,324 | €15,136 | +€3,812 | +33.7% |
| Taxes | 450/3 | €9,224 | €13,126 | +€3,902 | +42.3% |
| Remuneration and social security | 454/9 | €2,100 | €2,010 | -€90 | -4.3% |
| Other amounts payable | 47/48 | €2,504 | €71,749 | +€69,245 | +2765.5% |
| Accrued charges and deferred income | 492/3 | €0 | €212 | +€212 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,853 | €12,575 | +€4,723 | +60.1% |
| Other operating charges | 640/8 | €1,050 | €1,686 | +€636 | +60.5% |
| Gross operating margin | 9900 | €56,820 | €99,409 | +€42,589 | +75.0% |
| Operating profit (loss) | 9901 | €47,917 | €85,147 | +€37,230 | +77.7% |
| Financial income | 75/76B | €2 | €392 | +€390 | +22944.1% |
| Recurring financial income | 75 | €2 | €392 | +€390 | +22944.1% |
| Financial charges | 65/66B | €414 | €244 | -€170 | -41.0% |
| Recurring financial charges | 65 | €414 | €244 | -€170 | -41.0% |
| Profit (loss) for the period before taxes | 9903 | €47,504 | €85,294 | +€37,790 | +79.6% |
| Income taxes | 67/77 | €10,874 | €18,719 | +€7,845 | +72.1% |
| Profit (loss) for the period | 9904 | €36,630 | €66,576 | +€29,945 | +81.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,630 | €66,576 | +€29,945 | +81.8% |
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 11 October 2026 via checked.be.