MAUKRI: 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.
MAUKRI
Largest movements
- Tangible fixed assets +€45,094
new in 2025: €45,094
of which Furniture and vehicles: +€43,384
- Receivables within one year +€13,784
up €13,784 (+67.8%), from €20,337 to €34,120
of which Trade receivables: +€15,145
- Cash +€10,280
up €10,280 (+12.1%), from €85,179 to €95,459
mainly Debts after one year (+€29,945) and Net result for the year (+€28,232)
- Debts after one year +€29,945
new in 2025: €29,945
- Reserves +€28,232
up €28,232 (+33.4%), from €84,594 to €112,826
- Current portion of long-term debt +€9,077
new in 2025: €9,077
- Trade debts +€6,899
up €6,899 (+96.2%), from €7,169 to €14,068
- Tax, wage and social debts -€5,049
down €5,049 (-43.0%), from €11,753 to €6,704
- Depreciation +€10,418
new in 2025: €10,418
- Gross operating margin +€6,726
up €6,726 (+16.1%), from €41,878 to €48,604
- Taxes -€1,490
down €1,490 (-16.8%), from €8,869 to €7,379
- Financial charges +€1,450
up €1,450 (+2,375%), from €61 to €1,511
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 | €105,516 | €174,674 | +€69,157 | +65.5% |
| Fixed assets | 21/28 | - | €45,094 | +€45,094 | |
| Tangible fixed assets | 22/27 | - | €45,094 | +€45,094 | |
| Plant, machinery and equipment | 23 | - | €1,710 | +€1,710 | |
| Furniture and vehicles | 24 | - | €43,384 | +€43,384 | |
| Current assets | 29/58 | €105,516 | €129,579 | +€24,063 | +22.8% |
| Amounts receivable within one year | 40/41 | €20,337 | €34,120 | +€13,784 | +67.8% |
| Trade receivables | 40 | €13,543 | €28,688 | +€15,145 | +112% |
| Other amounts receivable | 41 | €6,794 | €5,433 | -€1,361 | -20.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €85,179 | €95,459 | +€10,280 | +12.1% |
| Total equity and liabilities | 10/49 | €105,516 | €174,674 | +€69,157 | +65.5% |
| Equity | 10/15 | €86,594 | €114,826 | +€28,232 | +32.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €84,594 | €112,826 | +€28,232 | +33.4% |
| Distributable reserves | 133 | €84,594 | €112,826 | +€28,232 | +33.4% |
| Amounts payable | 17/49 | €18,922 | €59,847 | +€40,925 | +216% |
| Amounts payable after more than one year | 17 | - | €29,945 | +€29,945 | |
| Financial debts | 170/4 | - | €29,945 | +€29,945 | |
| Amounts payable within one year | 42/48 | €18,922 | €29,902 | +€10,980 | +58.0% |
| Current portion of amounts payable after more than one year | 42 | - | €9,077 | +€9,077 | |
| Financial debts | 43 | - | €54 | +€54 | |
| Credit institutions | 430/8 | - | €54 | +€54 | |
| Trade debts | 44 | €7,169 | €14,068 | +€6,899 | +96.2% |
| Suppliers | 440/4 | €7,169 | €14,068 | +€6,899 | +96.2% |
| Taxes, remuneration and social security | 45 | €11,753 | €6,704 | -€5,049 | -43.0% |
| Taxes | 450/3 | €11,753 | €6,704 | -€5,049 | -43.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €10,418 | +€10,418 | |
| Other operating charges | 640/8 | €1,084 | €1,127 | +€42 | +3.9% |
| Gross operating margin | 9900 | €41,878 | €48,604 | +€6,726 | +16.1% |
| Operating profit (loss) | 9901 | €40,794 | €37,059 | -€3,735 | -9.2% |
| Financial income | 75/76B | €402 | €63 | -€339 | -84.4% |
| Recurring financial income | 75 | €402 | €63 | -€339 | -84.4% |
| Financial charges | 65/66B | €61 | €1,511 | +€1,450 | +2,375% |
| Recurring financial charges | 65 | €61 | €1,511 | +€1,450 | +2,375% |
| Profit (loss) for the period before taxes | 9903 | €41,135 | €35,611 | -€5,524 | -13.4% |
| Income taxes | 67/77 | €8,869 | €7,379 | -€1,490 | -16.8% |
| Profit (loss) for the period | 9904 | €32,267 | €28,232 | -€4,034 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €32,267 | €28,232 | -€4,034 | -12.5% |
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 27 October 2026 via checked.be.