MAUWS: 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.
MAUWS
Largest movements
- Receivables after one year -€129,388
down €129,388 (-12.9%), from €1.0m to €870,747
of which Other amounts receivable: -€129,388
- Cash +€119,308
up €119,308 (+5.2%), from €2.3m to €2.4m
mainly Net result for the year (+€167,083) and Receivables after one year (+€129,388)
- Tangible fixed assets -€76,123
down €76,123 (-13.9%), from €548,041 to €471,917
- Receivables within one year +€64,003
up €64,003 (+50.8%), from €125,992 to €189,996
of which Trade receivables: +€37,866
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€194,170
down €194,170 (-23.3%), from €833,401 to €639,230
- Taxes -€50,849
down €50,849 (-40.5%), from €125,531 to €74,682
- Depreciation -€14,315
down €14,315 (-14.6%), from €98,286 to €83,971
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 | €4,794,295 | €4,770,321 | -€23,974 | -0.5% |
| Fixed assets | 21/28 | €548,150 | €472,027 | -€76,123 | -13.9% |
| Tangible fixed assets | 22/27 | €548,041 | €471,917 | -€76,123 | -13.9% |
| Land and buildings | 22 | €387,533 | €354,347 | -€33,185 | -8.6% |
| Plant, machinery and equipment | 23 | €39,994 | €29,520 | -€10,474 | -26.2% |
| Furniture and vehicles | 24 | €120,514 | €88,050 | -€32,465 | -26.9% |
| Financial fixed assets | 28 | €109 | €109 | = | 0.0% |
| Current assets | 29/58 | €4,246,145 | €4,298,294 | +€52,149 | +1.2% |
| Amounts receivable after more than one year | 29 | €1,000,135 | €870,747 | -€129,388 | -12.9% |
| Trade receivables | 290 | €135 | €135 | = | 0.0% |
| Other amounts receivable | 291 | €1,000,000 | €870,612 | -€129,388 | -12.9% |
| Stocks and contracts in progress | 3 | €257,305 | €257,305 | = | 0.0% |
| Stocks | 30/36 | €257,305 | €257,305 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €125,992 | €189,996 | +€64,003 | +50.8% |
| Trade receivables | 40 | €60,744 | €98,610 | +€37,866 | +62.3% |
| Other amounts receivable | 41 | €65,248 | €91,385 | +€26,137 | +40.1% |
| Current investments | 50/53 | €561,163 | €561,163 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,298,950 | €2,418,257 | +€119,308 | +5.2% |
| Deferred charges and accrued income | 490/1 | €2,600 | €826 | -€1,774 | -68.2% |
| Total equity and liabilities | 10/49 | €4,794,295 | €4,770,321 | -€23,974 | -0.5% |
| Equity | 10/15 | €4,539,050 | €4,494,325 | -€44,725 | -1.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €4,514,050 | €4,469,325 | -€44,725 | -1.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €4,476,550 | €4,431,825 | -€44,725 | -1.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €255,245 | €275,996 | +€20,751 | +8.1% |
| Amounts payable within one year | 42/48 | €255,245 | €273,417 | +€18,172 | +7.1% |
| Trade debts | 44 | €27,066 | €14,434 | -€12,632 | -46.7% |
| Suppliers | 440/4 | €27,066 | €14,434 | -€12,632 | -46.7% |
| Taxes, remuneration and social security | 45 | €53,105 | €57,766 | +€4,661 | +8.8% |
| Taxes | 450/3 | €9,275 | €10,651 | +€1,376 | +14.8% |
| Remuneration and social security | 454/9 | €43,830 | €47,115 | +€3,285 | +7.5% |
| Other amounts payable | 47/48 | €175,074 | €201,217 | +€26,143 | +14.9% |
| Accrued charges and deferred income | 492/3 | - | €2,579 | +€2,579 | |
| Non-recurring operating income | 76A | €47,281 | €0 | -€47,281 | -100% |
| Remuneration, social security and pensions | 62 | €314,838 | €311,803 | -€3,035 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,286 | €83,971 | -€14,315 | -14.6% |
| Other operating charges | 640/8 | €1,465 | €3,605 | +€2,139 | +146% |
| Gross operating margin | 9900 | €833,401 | €639,230 | -€194,170 | -23.3% |
| Operating profit (loss) | 9901 | €418,811 | €239,852 | -€178,960 | -42.7% |
| Financial income | 75/76B | €3,965 | €5,890 | +€1,925 | +48.5% |
| Recurring financial income | 75 | €3,965 | €5,890 | +€1,925 | +48.5% |
| Financial charges | 65/66B | €2,657 | €3,977 | +€1,320 | +49.7% |
| Recurring financial charges | 65 | €2,657 | €3,977 | +€1,320 | +49.7% |
| Profit (loss) for the period before taxes | 9903 | €420,120 | €241,764 | -€178,355 | -42.5% |
| Income taxes | 67/77 | €125,531 | €74,682 | -€50,849 | -40.5% |
| Profit (loss) for the period | 9904 | €294,589 | €167,083 | -€127,506 | -43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €294,589 | €167,083 | -€127,506 | -43.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.