MAURELUS: 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.
MAURELUS
Largest movements
- Receivables within one year +€66,814
up €66,814 (+401%), from €16,671 to €83,484
of which Trade receivables: +€66,874
- Tangible fixed assets -€24,801
down €24,801 (-34.6%), from €71,639 to €46,838
of which Furniture and vehicles: -€24,585
- Cash -€4,415
down €4,415 (-60.7%), from €7,271 to €2,857
mainly Receivables within one year (-€66,814) and Debts after one year (-€21,414)
- Profit (loss) carried forward +€52,308
new in 2025: €52,308
- Debts after one year -€21,414
down €21,414 (-43.8%), from €48,842 to €27,429
- Tax, wage and social debts +€4,998
up €4,998 (+26.5%), from €18,894 to €23,892
of which Taxes: +€11,660
- Other debts +€4,544
up €4,544 (+240%), from €1,889 to €6,433
- Current portion of long-term debt -€2,062
down €2,062 (-8.5%), from €24,125 to €22,063
- Gross operating margin +€67,230
up €67,230 (+204%), from €32,934 to €100,164
- Taxes +€13,825
up €13,825 (+572%), from €2,418 to €16,243
- Other operating charges -€1,082
down €1,082 (-63.9%), from €1,694 to €612
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 | €98,828 | €135,508 | +€36,680 | +37.1% |
| Fixed assets | 21/28 | €71,639 | €46,838 | -€24,801 | -34.6% |
| Tangible fixed assets | 22/27 | €71,639 | €46,838 | -€24,801 | -34.6% |
| Plant, machinery and equipment | 23 | €742 | €527 | -€216 | -29.0% |
| Furniture and vehicles | 24 | €70,896 | €46,311 | -€24,585 | -34.7% |
| Current assets | 29/58 | €27,189 | €88,670 | +€61,481 | +226% |
| Amounts receivable within one year | 40/41 | €16,671 | €83,484 | +€66,814 | +401% |
| Trade receivables | 40 | €16,536 | €83,410 | +€66,874 | +404% |
| Other amounts receivable | 41 | €134 | €74 | -€60 | -44.5% |
| Cash at bank and in hand | 54/58 | €7,271 | €2,857 | -€4,415 | -60.7% |
| Deferred charges and accrued income | 490/1 | €3,247 | €2,329 | -€919 | -28.3% |
| Total equity and liabilities | 10/49 | €98,828 | €135,508 | +€36,680 | +37.1% |
| Equity | 10/15 | €2,500 | €54,808 | +€52,308 | +2,092% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €52,308 | +€52,308 | |
| Amounts payable | 17/49 | €96,328 | €80,700 | -€15,628 | -16.2% |
| Amounts payable after more than one year | 17 | €48,842 | €27,429 | -€21,414 | -43.8% |
| Financial debts | 170/4 | €48,842 | €27,429 | -€21,414 | -43.8% |
| Amounts payable within one year | 42/48 | €47,486 | €53,271 | +€5,785 | +12.2% |
| Current portion of amounts payable after more than one year | 42 | €24,125 | €22,063 | -€2,062 | -8.5% |
| Trade debts | 44 | €2,577 | €883 | -€1,694 | -65.7% |
| Suppliers | 440/4 | €2,577 | €883 | -€1,694 | -65.7% |
| Taxes, remuneration and social security | 45 | €18,894 | €23,892 | +€4,998 | +26.5% |
| Taxes | 450/3 | €12,232 | €23,892 | +€11,660 | +95.3% |
| Remuneration and social security | 454/9 | €6,662 | - | -€6,662 | |
| Other amounts payable | 47/48 | €1,889 | €6,433 | +€4,544 | +240% |
| Non-recurring operating income | 76A | €1,925 | - | -€1,925 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,016 | €24,801 | -€215 | -0.9% |
| Other operating charges | 640/8 | €1,694 | €612 | -€1,082 | -63.9% |
| Gross operating margin | 9900 | €32,934 | €100,164 | +€67,230 | +204% |
| Operating profit (loss) | 9901 | €6,224 | €74,751 | +€68,527 | +1,101% |
| Financial income | 75/76B | €0 | €3 | +€3 | +33,900% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +33,900% |
| Financial charges | 65/66B | €2,754 | €2,153 | -€601 | -21.8% |
| Recurring financial charges | 65 | €2,754 | €2,153 | -€601 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €3,470 | €72,602 | +€69,131 | +1,992% |
| Income taxes | 67/77 | €2,418 | €16,243 | +€13,825 | +572% |
| Profit (loss) for the period | 9904 | €1,052 | €56,358 | +€55,306 | +5,257% |
| Profit (loss) for the period to be appropriated | 9905 | €1,052 | €56,358 | +€55,306 | +5,257% |
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 25 October 2026 via checked.be.