MaWe: 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.
MaWe
Largest movements
- Tangible fixed assets -€55,862
down €55,862 (-4.5%), from €1.2m to €1.2m
of which Land and buildings: -€55,600
- Cash -€13,296
down €13,296 (-70.6%), from €18,826 to €5,530
mainly Debts after one year (-€50,105) and Net result for the year (-€31,303)
- Debts after one year -€50,105
down €50,105 (-8.0%), from €623,753 to €573,648
- Profit (loss) carried forward -€31,303
down €31,303 (-52.4%), from -€59,742 to -€91,045
- Other debts +€16,235
up €16,235 (+2.6%), from €615,567 to €631,802
- Financial charges -€15,187
down €15,187 (-41.4%), from €36,677 to €21,490
- Gross operating margin +€12,658
up €12,658 (+31.6%), from €40,087 to €52,745
- Depreciation +€4,437
up €4,437 (+8.4%), from €53,077 to €57,514
- Other operating charges +€598
up €598 (+13.4%), from €4,446 to €5,044
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 | €1,264,085 | €1,194,443 | -€69,642 | -5.5% |
| Fixed assets | 21/28 | €1,234,314 | €1,178,452 | -€55,862 | -4.5% |
| Tangible fixed assets | 22/27 | €1,234,314 | €1,178,452 | -€55,862 | -4.5% |
| Land and buildings | 22 | €1,233,877 | €1,178,277 | -€55,600 | -4.5% |
| Furniture and vehicles | 24 | €437 | €175 | -€262 | -59.9% |
| Current assets | 29/58 | €29,771 | €15,991 | -€13,780 | -46.3% |
| Amounts receivable within one year | 40/41 | €5,587 | €8,558 | +€2,971 | +53.2% |
| Trade receivables | 40 | €3,029 | €6,888 | +€3,859 | +127.4% |
| Other amounts receivable | 41 | €2,558 | €1,670 | -€888 | -34.7% |
| Cash at bank and in hand | 54/58 | €18,826 | €5,530 | -€13,296 | -70.6% |
| Deferred charges and accrued income | 490/1 | €5,358 | €1,902 | -€3,456 | -64.5% |
| Total equity and liabilities | 10/49 | €1,264,085 | €1,194,443 | -€69,642 | -5.5% |
| Equity | 10/15 | -€41,142 | -€72,445 | -€31,303 | -76.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,742 | -€91,045 | -€31,303 | -52.4% |
| Amounts payable | 17/49 | €1,305,227 | €1,266,888 | -€38,339 | -2.9% |
| Amounts payable after more than one year | 17 | €623,753 | €573,648 | -€50,105 | -8.0% |
| Financial debts | 170/4 | €623,753 | €573,648 | -€50,105 | -8.0% |
| Amounts payable within one year | 42/48 | €670,262 | €691,322 | +€21,060 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €48,838 | €50,105 | +€1,267 | +2.6% |
| Trade debts | 44 | €1,052 | €7,194 | +€6,142 | +583.7% |
| Suppliers | 440/4 | €1,052 | €7,194 | +€6,142 | +583.7% |
| Taxes, remuneration and social security | 45 | €4,805 | €2,221 | -€2,584 | -53.8% |
| Taxes | 450/3 | €4,805 | €2,221 | -€2,584 | -53.8% |
| Other amounts payable | 47/48 | €615,567 | €631,802 | +€16,235 | +2.6% |
| Accrued charges and deferred income | 492/3 | €11,211 | €1,918 | -€9,293 | -82.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,077 | €57,514 | +€4,437 | +8.4% |
| Other operating charges | 640/8 | €4,446 | €5,044 | +€598 | +13.4% |
| Gross operating margin | 9900 | €40,087 | €52,745 | +€12,658 | +31.6% |
| Operating profit (loss) | 9901 | -€17,436 | -€9,813 | +€7,623 | +43.7% |
| Financial income | 75/76B | €58 | - | -€58 | |
| Recurring financial income | 75 | €58 | - | -€58 | |
| Financial charges | 65/66B | €36,677 | €21,490 | -€15,187 | -41.4% |
| Recurring financial charges | 65 | €36,677 | €21,490 | -€15,187 | -41.4% |
| Profit (loss) for the period before taxes | 9903 | -€54,054 | -€31,303 | +€22,751 | +42.1% |
| Profit (loss) for the period | 9904 | -€54,054 | -€31,303 | +€22,751 | +42.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,054 | -€31,303 | +€22,751 | +42.1% |
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 11 October 2026 via checked.be.