MAWI LOGISTICS: 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.
MAWI LOGISTICS
Largest movements
- Tangible fixed assets +€551,115
up €551,115 (+14.1%), from €3.9m to €4.5m
of which Other tangible fixed assets: +€500,941
- Receivables within one year +€291,413
up €291,413 (+9,322%), from €3,126 to €294,539
of which Other amounts receivable: +€226,751
- Formation expenses -€93,540
no longer reported in 2025 (was €93,540)
- Cash -€68,699
down €68,699 (-97.7%), from €70,294 to €1,595
mainly Investment in fixed assets (net) (-€659,741) and Receivables within one year (-€291,413)
- Debts after one year +€395,078
up €395,078 (+71.6%), from €551,414 to €946,492
- Other debts +€185,368
up €185,368 (+10.9%), from €1.7m to €1.9m
- Current portion of long-term debt +€55,247
up €55,247 (+54.1%), from €102,036 to €157,283
- Depreciation +€32,121
up €32,121 (+18.9%), from €170,045 to €202,166
- Other operating charges -€30,417
down €30,417 (-98.9%), from €30,767 to €350
- Gross operating margin +€27,963
up €27,963 (+8.9%), from €313,751 to €341,714
- Taxes +€19,499
up €19,499 (+4,029%), from €484 to €19,983
- Financial charges -€16,662
down €16,662 (-15.5%), from €107,539 to €90,877
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 | €4,134,345 | €4,814,634 | +€680,289 | +16.5% |
| Formation expenses | 20 | €93,540 | - | -€93,540 | |
| Fixed assets | 21/28 | €3,920,508 | €4,471,623 | +€551,115 | +14.1% |
| Tangible fixed assets | 22/27 | €3,920,508 | €4,471,623 | +€551,115 | +14.1% |
| Land and buildings | 22 | €2,860,670 | €2,925,519 | +€64,849 | +2.3% |
| Other tangible fixed assets | 26 | €1,045,163 | €1,546,104 | +€500,941 | +47.9% |
| Assets under construction and advance payments | 27 | €14,675 | - | -€14,675 | |
| Current assets | 29/58 | €120,297 | €343,011 | +€222,714 | +185% |
| Amounts receivable within one year | 40/41 | €3,126 | €294,539 | +€291,413 | +9,322% |
| Trade receivables | 40 | €3,126 | €67,788 | +€64,662 | +2,069% |
| Other amounts receivable | 41 | - | €226,751 | +€226,751 | |
| Cash at bank and in hand | 54/58 | €70,294 | €1,595 | -€68,699 | -97.7% |
| Deferred charges and accrued income | 490/1 | €46,877 | €46,877 | = | 0.0% |
| Total equity and liabilities | 10/49 | €4,134,345 | €4,814,634 | +€680,289 | +16.5% |
| Equity | 10/15 | €161,606 | €189,944 | +€28,338 | +17.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €110,294 | €110,294 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,600 | €1,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,600 | €1,600 | = | 0.0% |
| Distributable reserves | 133 | €108,694 | €108,694 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,762 | €61,100 | +€28,338 | +86.5% |
| Amounts payable | 17/49 | €3,972,739 | €4,624,690 | +€651,951 | +16.4% |
| Amounts payable after more than one year | 17 | €551,414 | €946,492 | +€395,078 | +71.6% |
| Financial debts | 170/4 | €551,414 | €946,492 | +€395,078 | +71.6% |
| Amounts payable within one year | 42/48 | €3,421,325 | €3,678,198 | +€256,873 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €102,036 | €157,283 | +€55,247 | +54.1% |
| Financial debts | 43 | €1,594,125 | €1,608,718 | +€14,593 | +0.9% |
| Credit institutions | 430/8 | €1,594,125 | €1,608,718 | +€14,593 | +0.9% |
| Trade debts | 44 | €14,771 | €6,052 | -€8,719 | -59.0% |
| Suppliers | 440/4 | €14,771 | €6,052 | -€8,719 | -59.0% |
| Taxes, remuneration and social security | 45 | €9,766 | €20,150 | +€10,384 | +106% |
| Taxes | 450/3 | €9,766 | €20,150 | +€10,384 | +106% |
| Other amounts payable | 47/48 | €1,700,627 | €1,885,995 | +€185,368 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €170,045 | €202,166 | +€32,121 | +18.9% |
| Other operating charges | 640/8 | €30,767 | €350 | -€30,417 | -98.9% |
| Gross operating margin | 9900 | €313,751 | €341,714 | +€27,963 | +8.9% |
| Operating profit (loss) | 9901 | €112,939 | €139,198 | +€26,259 | +23.3% |
| Financial charges | 65/66B | €107,539 | €90,877 | -€16,662 | -15.5% |
| Recurring financial charges | 65 | €107,539 | €90,877 | -€16,662 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €5,400 | €48,321 | +€42,921 | +795% |
| Income taxes | 67/77 | €484 | €19,983 | +€19,499 | +4,029% |
| Profit (loss) for the period | 9904 | €4,916 | €28,338 | +€23,422 | +476% |
| Profit (loss) for the period to be appropriated | 9905 | €4,916 | €28,338 | +€23,422 | +476% |
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 22 October 2026 via checked.be.