MAUMAR: 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.
MAUMAR
Largest movements
- Stocks and contracts -€26,121
down €26,121 (-27.5%), from €94,958 to €68,837
- Receivables within one year +€21,556
up €21,556 (+47.4%), from €45,514 to €67,070
of which Other amounts receivable: +€15,843
- Cash +€20,754
up €20,754 (+39.3%), from €52,768 to €73,522
mainly Trade debts (+€29,437) and Stocks and contracts (+€26,121)
- Tangible fixed assets +€11,938
up €11,938 (+50.7%), from €23,552 to €35,490
of which Plant, machinery and equipment: +€13,573
- Trade debts +€29,437
up €29,437 (+24.0%), from €122,704 to €152,141
- Profit (loss) carried forward +€10,620
up €10,620 (+31.1%), from €34,180 to €44,800
- Current portion of long-term debt -€10,293
down €10,293 (-25.0%), from €41,149 to €30,856
- Short-term financial debts +€8,589
new in 2025: €8,589
- Debts after one year -€8,203
down €8,203 (-19.6%), from €41,953 to €33,750
- Depreciation -€18,438
down €18,438 (-61.9%), from €29,780 to €11,342
- Gross operating margin -€13,180
down €13,180 (-8.4%), from €156,017 to €142,837
- Staff costs +€2,135
up €2,135 (+2.2%), from €98,613 to €100,748
- Taxes +€1,755
up €1,755 (+31.6%), from €5,560 to €7,315
- Financial charges +€1,594
up €1,594 (+14.9%), from €10,729 to €12,322
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 | €307,504 | €337,812 | +€30,308 | +9.9% |
| Fixed assets | 21/28 | €25,152 | €37,090 | +€11,938 | +47.5% |
| Tangible fixed assets | 22/27 | €23,552 | €35,490 | +€11,938 | +50.7% |
| Plant, machinery and equipment | 23 | €13,481 | €27,055 | +€13,573 | +100.7% |
| Other tangible fixed assets | 26 | €10,071 | €8,435 | -€1,635 | -16.2% |
| Financial fixed assets | 28 | €1,600 | €1,600 | = | 0.0% |
| Current assets | 29/58 | €282,352 | €300,723 | +€18,370 | +6.5% |
| Amounts receivable after more than one year | 29 | €85,000 | €85,000 | = | 0.0% |
| Other amounts receivable | 291 | €85,000 | €85,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €94,958 | €68,837 | -€26,121 | -27.5% |
| Stocks | 30/36 | €94,958 | €68,837 | -€26,121 | -27.5% |
| Amounts receivable within one year | 40/41 | €45,514 | €67,070 | +€21,556 | +47.4% |
| Trade receivables | 40 | €25,945 | €31,658 | +€5,713 | +22.0% |
| Other amounts receivable | 41 | €19,569 | €35,412 | +€15,843 | +81.0% |
| Cash at bank and in hand | 54/58 | €52,768 | €73,522 | +€20,754 | +39.3% |
| Deferred charges and accrued income | 490/1 | €4,112 | €6,293 | +€2,181 | +53.0% |
| Total equity and liabilities | 10/49 | €307,504 | €337,812 | +€30,308 | +9.9% |
| Equity | 10/15 | €64,180 | €74,800 | +€10,620 | +16.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,180 | €44,800 | +€10,620 | +31.1% |
| Amounts payable | 17/49 | €243,324 | €263,013 | +€19,689 | +8.1% |
| Amounts payable after more than one year | 17 | €41,953 | €33,750 | -€8,203 | -19.6% |
| Financial debts | 170/4 | €41,953 | €33,750 | -€8,203 | -19.6% |
| Amounts payable within one year | 42/48 | €201,371 | €229,263 | +€27,892 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €41,149 | €30,856 | -€10,293 | -25.0% |
| Financial debts | 43 | - | €8,589 | +€8,589 | |
| Credit institutions | 430/8 | - | €8,589 | +€8,589 | |
| Trade debts | 44 | €122,704 | €152,141 | +€29,437 | +24.0% |
| Suppliers | 440/4 | €122,704 | €152,141 | +€29,437 | +24.0% |
| Advances received on contracts in progress | 46 | €238 | €238 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €33,937 | €33,825 | -€113 | -0.3% |
| Taxes | 450/3 | €16,992 | €14,386 | -€2,606 | -15.3% |
| Remuneration and social security | 454/9 | €16,945 | €19,438 | +€2,494 | +14.7% |
| Other amounts payable | 47/48 | €3,343 | €3,615 | +€272 | +8.1% |
| Remuneration, social security and pensions | 62 | €98,613 | €100,748 | +€2,135 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,780 | €11,342 | -€18,438 | -61.9% |
| Other operating charges | 640/8 | €5,602 | €5,125 | -€477 | -8.5% |
| Gross operating margin | 9900 | €156,017 | €142,837 | -€13,180 | -8.4% |
| Operating profit (loss) | 9901 | €22,022 | €25,622 | +€3,600 | +16.3% |
| Financial income | 75/76B | €3,855 | €4,635 | +€780 | +20.2% |
| Recurring financial income | 75 | €3,855 | €4,635 | +€780 | +20.2% |
| Financial charges | 65/66B | €10,729 | €12,322 | +€1,594 | +14.9% |
| Recurring financial charges | 65 | €10,729 | €12,322 | +€1,594 | +14.9% |
| Profit (loss) for the period before taxes | 9903 | €15,148 | €17,935 | +€2,787 | +18.4% |
| Income taxes | 67/77 | €5,560 | €7,315 | +€1,755 | +31.6% |
| Profit (loss) for the period | 9904 | €9,588 | €10,620 | +€1,032 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,588 | €10,620 | +€1,032 | +10.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.