MAURITZ: what changed
Two fiscal 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.
MAURITZ
Largest movements
- Cash -€35,742
down €35,742 (-46.8%), from €76,432 to €40,690
mainly Investment in fixed assets (net) (-€29,218) and Net result for the year (-€12,196)
- Tangible fixed assets +€10,307
up €10,307 (+3.6%), from €282,725 to €293,032
of which Land and buildings: +€17,627
- Profit (loss) carried forward -€12,196
down €12,196, from €1,608 to -€10,587
- Tax, wage and social debts -€7,012
no longer reported in 2025 (was €7,012)
of which Taxes: -€4,801
- Gross operating margin -€19,046
down €19,046 (-30.8%), from €61,884 to €42,837
- Staff costs +€6,775
up €6,775 (+35.1%), from €19,286 to €26,060
- Taxes -€5,896
down €5,896 (-93.5%), from €6,306 to €411
- Financial charges +€2,619
up €2,619 (+78.6%), from €3,333 to €5,952
- Other operating charges +€1,592
up €1,592 (+40.9%), from €3,892 to €5,485
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 | €413,938 | €390,540 | -€23,398 | -5.7% |
| Fixed assets | 21/28 | €282,725 | €293,032 | +€10,307 | +3.6% |
| Tangible fixed assets | 22/27 | €282,725 | €293,032 | +€10,307 | +3.6% |
| Land and buildings | 22 | €269,878 | €287,504 | +€17,627 | +6.5% |
| Plant, machinery and equipment | 23 | €4,940 | €4,710 | -€230 | -4.7% |
| Furniture and vehicles | 24 | €7,908 | €818 | -€7,089 | -89.7% |
| Current assets | 29/58 | €131,213 | €97,508 | -€33,705 | -25.7% |
| Stocks and contracts in progress | 3 | €27,502 | €27,502 | = | 0.0% |
| Stocks | 30/36 | €27,502 | €27,502 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €27,279 | €29,315 | +€2,037 | +7.5% |
| Trade receivables | 40 | €21,491 | €22,225 | +€734 | +3.4% |
| Other amounts receivable | 41 | €5,787 | €7,091 | +€1,303 | +22.5% |
| Cash at bank and in hand | 54/58 | €76,432 | €40,690 | -€35,742 | -46.8% |
| Total equity and liabilities | 10/49 | €413,938 | €390,540 | -€23,398 | -5.7% |
| Equity | 10/15 | €149,201 | €137,005 | -€12,196 | -8.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €128,992 | €128,992 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €127,132 | €127,132 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,608 | -€10,587 | -€12,196 | |
| Amounts payable | 17/49 | €264,737 | €253,535 | -€11,202 | -4.2% |
| Amounts payable after more than one year | 17 | €204,235 | €201,915 | -€2,320 | -1.1% |
| Financial debts | 170/4 | €204,235 | €201,915 | -€2,320 | -1.1% |
| Amounts payable within one year | 42/48 | €60,502 | €51,620 | -€8,882 | -14.7% |
| Current portion of amounts payable after more than one year | 42 | €17,862 | €14,540 | -€3,323 | -18.6% |
| Trade debts | 44 | €11,006 | €10,470 | -€536 | -4.9% |
| Suppliers | 440/4 | €11,006 | €10,470 | -€536 | -4.9% |
| Taxes, remuneration and social security | 45 | €7,012 | - | -€7,012 | |
| Taxes | 450/3 | €4,801 | - | -€4,801 | |
| Remuneration and social security | 454/9 | €2,211 | - | -€2,211 | |
| Other amounts payable | 47/48 | €24,621 | €26,610 | +€1,988 | +8.1% |
| Remuneration, social security and pensions | 62 | €19,286 | €26,060 | +€6,775 | +35.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,469 | €18,911 | +€1,442 | +8.3% |
| Other operating charges | 640/8 | €3,892 | €5,485 | +€1,592 | +40.9% |
| Gross operating margin | 9900 | €61,884 | €42,837 | -€19,046 | -30.8% |
| Operating profit (loss) | 9901 | €21,237 | -€7,619 | -€28,855 | |
| Financial income | 75/76B | €1,949 | €1,786 | -€163 | -8.4% |
| Recurring financial income | 75 | €1,949 | €1,786 | -€163 | -8.4% |
| Financial charges | 65/66B | €3,333 | €5,952 | +€2,619 | +78.6% |
| Recurring financial charges | 65 | €3,333 | €5,952 | +€2,619 | +78.6% |
| Profit (loss) for the period before taxes | 9903 | €19,853 | -€11,785 | -€31,638 | |
| Income taxes | 67/77 | €6,306 | €411 | -€5,896 | -93.5% |
| Profit (loss) for the period | 9904 | €13,547 | -€12,196 | -€25,742 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,547 | -€12,196 | -€25,742 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.