Maurelle: 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.
Maurelle
Largest movements
- Tangible fixed assets -€755,712
down €755,712 (-50.2%), from €1.5m to €749,939
of which Land and buildings: -€724,863
- Receivables within one year +€113,966
up €113,966 (+71.5%), from €159,349 to €273,316
of which Other amounts receivable: +€122,839
- Debts after one year -€438,405
down €438,405 (-42.1%), from €1.0m to €601,822
- Profit (loss) carried forward -€92,348
down €92,348 (-68.9%), from -€134,072 to -€226,420
- Other debts -€57,698
down €57,698 (-95.2%), from €60,611 to €2,914
- Current portion of long-term debt -€31,950
down €31,950 (-49.3%), from €64,799 to €32,850
- Financial charges -€9,072
down €9,072 (-20.8%), from €43,575 to €34,503
- Depreciation -€7,577
down €7,577 (-14.6%), from €51,727 to €44,150
- Other operating charges +€3,965
up €3,965 (+129.1%), from €3,071 to €7,037
- Gross operating margin +€2,787
up €2,787 (+16.2%), from €17,180 to €19,967
- Taxes +€329
up €329 (+839.1%), from €39 to €368
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 | €1,673,141 | €1,026,188 | -€646,954 | -38.7% |
| Formation expenses | 20 | €1,308 | €908 | -€400 | -30.6% |
| Fixed assets | 21/28 | €1,505,651 | €749,939 | -€755,712 | -50.2% |
| Tangible fixed assets | 22/27 | €1,505,651 | €749,939 | -€755,712 | -50.2% |
| Land and buildings | 22 | €1,386,682 | €661,818 | -€724,863 | -52.3% |
| Plant, machinery and equipment | 23 | €6,407 | €4,157 | -€2,250 | -35.1% |
| Furniture and vehicles | 24 | €112,562 | €83,964 | -€28,599 | -25.4% |
| Current assets | 29/58 | €166,182 | €275,340 | +€109,158 | +65.7% |
| Amounts receivable within one year | 40/41 | €159,349 | €273,316 | +€113,966 | +71.5% |
| Trade receivables | 40 | €29,040 | €20,168 | -€8,873 | -30.6% |
| Other amounts receivable | 41 | €130,309 | €253,148 | +€122,839 | +94.3% |
| Cash at bank and in hand | 54/58 | €744 | €464 | -€281 | -37.7% |
| Deferred charges and accrued income | 490/1 | €6,088 | €1,561 | -€4,527 | -74.4% |
| Total equity and liabilities | 10/49 | €1,673,141 | €1,026,188 | -€646,954 | -38.7% |
| Equity | 10/15 | €465,928 | €373,580 | -€92,348 | -19.8% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€134,072 | -€226,420 | -€92,348 | -68.9% |
| Amounts payable | 17/49 | €1,207,213 | €652,608 | -€554,606 | -45.9% |
| Amounts payable after more than one year | 17 | €1,040,227 | €601,822 | -€438,405 | -42.1% |
| Financial debts | 170/4 | €1,040,227 | €601,822 | -€438,405 | -42.1% |
| Amounts payable within one year | 42/48 | €158,178 | €46,176 | -€112,002 | -70.8% |
| Current portion of amounts payable after more than one year | 42 | €64,799 | €32,850 | -€31,950 | -49.3% |
| Financial debts | 43 | €43 | €0 | -€43 | -100.0% |
| Credit institutions | 430/8 | €43 | €0 | -€43 | -100.0% |
| Trade debts | 44 | €14,730 | €3,620 | -€11,110 | -75.4% |
| Suppliers | 440/4 | €14,730 | €3,620 | -€11,110 | -75.4% |
| Taxes, remuneration and social security | 45 | €17,995 | €6,793 | -€11,202 | -62.3% |
| Taxes | 450/3 | €11,592 | €3,966 | -€7,626 | -65.8% |
| Remuneration and social security | 454/9 | €6,403 | €2,827 | -€3,576 | -55.8% |
| Other amounts payable | 47/48 | €60,611 | €2,914 | -€57,698 | -95.2% |
| Accrued charges and deferred income | 492/3 | €8,808 | €4,609 | -€4,199 | -47.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,727 | €44,150 | -€7,577 | -14.6% |
| Other operating charges | 640/8 | €3,071 | €7,037 | +€3,965 | +129.1% |
| Non-recurring operating charges | 66A | - | €26,258 | +€26,258 | |
| Gross operating margin | 9900 | €17,180 | €19,967 | +€2,787 | +16.2% |
| Operating profit (loss) | 9901 | -€37,618 | -€57,477 | -€19,859 | -52.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €43,575 | €34,503 | -€9,072 | -20.8% |
| Recurring financial charges | 65 | €43,575 | €34,503 | -€9,072 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | -€81,193 | -€91,980 | -€10,788 | -13.3% |
| Income taxes | 67/77 | €39 | €368 | +€329 | +839.1% |
| Profit (loss) for the period | 9904 | -€81,232 | -€92,348 | -€11,116 | -13.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€81,232 | -€92,348 | -€11,116 | -13.7% |
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 12 October 2026 via checked.be.