MAUROMAR: 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.
MAUROMAR
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+70.5%), from €1.8m to €3.1m
of which Land and buildings: +€1.3m
- Receivables within one year +€62,156
up €62,156 (+117%), from €53,291 to €115,447
of which Trade receivables: +€46,358
- Cash -€45,526
down €45,526 (-9.4%), from €484,069 to €438,543
mainly Investment in fixed assets (net) (-€1.4m) and Receivables within one year (-€62,156)
- Debts after one year +€1.1m
up €1.1m (+85.0%), from €1.3m to €2.5m
- Current portion of long-term debt +€79,634
up €79,634 (+70.1%), from €113,616 to €193,249
- Reserves +€59,056
up €59,056 (+7.3%), from €809,629 to €868,685
- Financial income -€198,584
down €198,584 (-99.2%), from €200,196 to €1,613
- Gross operating margin -€65,021
down €65,021 (-21.1%), from €308,846 to €243,825
- Taxes -€45,945
down €45,945 (-68.0%), from €67,560 to €21,614
- Other operating charges +€9,725
up €9,725 (+101%), from €9,612 to €19,337
- Staff costs +€8,138
new in 2025: €8,138
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 | €2,440,330 | €3,737,772 | +€1.3m | +53.2% |
| Fixed assets | 21/28 | €1,902,970 | €3,173,553 | +€1.3m | +66.8% |
| Tangible fixed assets | 22/27 | €1,802,970 | €3,073,553 | +€1.3m | +70.5% |
| Land and buildings | 22 | €1,802,970 | €3,069,594 | +€1.3m | +70.3% |
| Plant, machinery and equipment | 23 | - | €3,959 | +€3,959 | |
| Financial fixed assets | 28 | €100,000 | €100,000 | = | 0.0% |
| Current assets | 29/58 | €537,360 | €564,219 | +€26,859 | +5.0% |
| Stocks and contracts in progress | 3 | - | €10,229 | +€10,229 | |
| Stocks | 30/36 | - | €10,229 | +€10,229 | |
| Amounts receivable within one year | 40/41 | €53,291 | €115,447 | +€62,156 | +117% |
| Trade receivables | 40 | €50,031 | €96,389 | +€46,358 | +92.7% |
| Other amounts receivable | 41 | €3,260 | €19,058 | +€15,798 | +485% |
| Cash at bank and in hand | 54/58 | €484,069 | €438,543 | -€45,526 | -9.4% |
| Total equity and liabilities | 10/49 | €2,440,330 | €3,737,772 | +€1.3m | +53.2% |
| Equity | 10/15 | €822,029 | €881,085 | +€59,056 | +7.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €809,629 | €868,685 | +€59,056 | +7.3% |
| Distributable reserves | 133 | €809,629 | €868,685 | +€59,056 | +7.3% |
| Amounts payable | 17/49 | €1,618,301 | €2,856,687 | +€1.2m | +76.5% |
| Amounts payable after more than one year | 17 | €1,345,827 | €2,490,037 | +€1.1m | +85.0% |
| Financial debts | 170/4 | €1,345,827 | €2,490,037 | +€1.1m | +85.0% |
| Amounts payable within one year | 42/48 | €272,474 | €366,651 | +€94,177 | +34.6% |
| Current portion of amounts payable after more than one year | 42 | €113,616 | €193,249 | +€79,634 | +70.1% |
| Trade debts | 44 | €5,206 | €16,828 | +€11,622 | +223% |
| Suppliers | 440/4 | €5,206 | €16,828 | +€11,622 | +223% |
| Advances received on contracts in progress | 46 | €1,351 | €2,951 | +€1,600 | +118% |
| Taxes, remuneration and social security | 45 | €40,731 | €47,328 | +€6,597 | +16.2% |
| Taxes | 450/3 | €37,231 | €40,559 | +€3,328 | +8.9% |
| Remuneration and social security | 454/9 | €3,500 | €6,770 | +€3,270 | +93.4% |
| Other amounts payable | 47/48 | €111,570 | €106,294 | -€5,276 | -4.7% |
| Remuneration, social security and pensions | 62 | - | €8,138 | +€8,138 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,193 | €81,218 | +€5,025 | +6.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €491 | +€491 | |
| Other operating charges | 640/8 | €9,612 | €19,337 | +€9,725 | +101% |
| Gross operating margin | 9900 | €308,846 | €243,825 | -€65,021 | -21.1% |
| Operating profit (loss) | 9901 | €223,040 | €134,641 | -€88,400 | -39.6% |
| Financial income | 75/76B | €200,196 | €1,613 | -€198,584 | -99.2% |
| Recurring financial income | 75 | €200,196 | €1,613 | -€198,584 | -99.2% |
| Financial charges | 65/66B | €53,672 | €55,583 | +€1,911 | +3.6% |
| Recurring financial charges | 65 | €53,672 | €55,583 | +€1,911 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €369,565 | €80,670 | -€288,895 | -78.2% |
| Income taxes | 67/77 | €67,560 | €21,614 | -€45,945 | -68.0% |
| Profit (loss) for the period | 9904 | €302,005 | €59,056 | -€242,949 | -80.4% |
| Profit (loss) for the period to be appropriated | 9905 | €302,005 | €59,056 | -€242,949 | -80.4% |
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 15 October 2026 via checked.be.