Maurex: 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.
Maurex
Largest movements
- Cash +€50,308
up €50,308 (+71.1%), from €70,741 to €121,049
mainly Net result for the year (+€37,266) and Receivables within one year (+€28,201)
- Receivables within one year -€28,201
down €28,201 (-94.6%), from €29,818 to €1,617
of which Trade receivables: -€27,428
- Deferred charges and accrued income -€3,557
down €3,557 (-100%), from €3,557 to €0
- Reserves +€37,266
up €37,266 (+74.2%), from €50,240 to €87,506
- Trade debts -€15,635
down €15,635 (-98.4%), from €15,885 to €250
- Tax, wage and social debts -€3,243
down €3,243 (-33.4%), from €9,698 to €6,454
of which Taxes: -€3,243
- Gross operating margin +€10,546
up €10,546 (+28.0%), from €37,731 to €48,276
- Financial charges -€2,746
down €2,746 (-93.0%), from €2,954 to €208
- Taxes +€2,287
up €2,287 (+30.7%), from €7,451 to €9,738
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 | €105,822 | €124,572 | +€18,749 | +17.7% |
| Fixed assets | 21/28 | €1,707 | €1,905 | +€199 | +11.6% |
| Tangible fixed assets | 22/27 | €1,219 | €1,905 | +€686 | +56.3% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,219 | €1,905 | +€686 | +56.3% |
| Financial fixed assets | 28 | €487 | €0 | -€487 | -100% |
| Current assets | 29/58 | €104,116 | €122,666 | +€18,551 | +17.8% |
| Amounts receivable within one year | 40/41 | €29,818 | €1,617 | -€28,201 | -94.6% |
| Trade receivables | 40 | €28,029 | €601 | -€27,428 | -97.9% |
| Other amounts receivable | 41 | €1,789 | €1,017 | -€772 | -43.2% |
| Cash at bank and in hand | 54/58 | €70,741 | €121,049 | +€50,308 | +71.1% |
| Deferred charges and accrued income | 490/1 | €3,557 | €0 | -€3,557 | -100% |
| Total equity and liabilities | 10/49 | €105,822 | €124,572 | +€18,749 | +17.7% |
| Equity | 10/15 | €80,240 | €117,506 | +€37,266 | +46.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €50,240 | €87,506 | +€37,266 | +74.2% |
| Distributable reserves | 133 | €50,240 | €87,506 | +€37,266 | +74.2% |
| Amounts payable | 17/49 | €25,583 | €7,066 | -€18,517 | -72.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €25,583 | €6,976 | -€18,606 | -72.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €15,885 | €250 | -€15,635 | -98.4% |
| Suppliers | 440/4 | €15,885 | €250 | -€15,635 | -98.4% |
| Taxes, remuneration and social security | 45 | €9,698 | €6,454 | -€3,243 | -33.4% |
| Taxes | 450/3 | €9,698 | €6,454 | -€3,243 | -33.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €272 | +€272 | |
| Accrued charges and deferred income | 492/3 | - | €90 | +€90 | |
| Non-recurring operating income | 76A | €3,032 | €0 | -€3,032 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20 | €501 | +€481 | +2,367% |
| Other operating charges | 640/8 | €1,040 | €577 | -€463 | -44.5% |
| Gross operating margin | 9900 | €37,731 | €48,276 | +€10,546 | +28.0% |
| Operating profit (loss) | 9901 | €36,670 | €47,198 | +€10,528 | +28.7% |
| Financial income | 75/76B | €0 | €14 | +€14 | +140,000% |
| Recurring financial income | 75 | €0 | €14 | +€14 | +140,000% |
| Financial charges | 65/66B | €2,954 | €208 | -€2,746 | -93.0% |
| Recurring financial charges | 65 | €2,954 | €208 | -€2,746 | -93.0% |
| Profit (loss) for the period before taxes | 9903 | €33,716 | €47,004 | +€13,288 | +39.4% |
| Income taxes | 67/77 | €7,451 | €9,738 | +€2,287 | +30.7% |
| Profit (loss) for the period | 9904 | €26,265 | €37,266 | +€11,001 | +41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,265 | €37,266 | +€11,001 | +41.9% |
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 16 October 2026 via checked.be.