MAWINI: 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.
MAWINI
Largest movements
- Receivables within one year +€26,002
up €26,002 (+32.2%), from €80,761 to €106,763
of which Trade receivables: +€27,779
- Tangible fixed assets -€14,525
down €14,525 (-6.8%), from €214,978 to €200,453
of which Leasing and similar rights: -€10,296
- Cash -€7,285
down €7,285 (-61.7%), from €11,808 to €4,523
mainly Debts after one year (-€35,789) and Receivables within one year (-€26,002)
- Debts after one year -€35,789
down €35,789 (-27.2%), from €131,338 to €95,549
of which Financial debts: -€35,789
- Profit (loss) carried forward +€28,657
up €28,657 (+69.4%), from €41,276 to €69,933
- Tax, wage and social debts +€9,140
up €9,140 (+158.7%), from €5,761 to €14,900
- Trade debts +€5,371
up €5,371 (+11.1%), from €48,376 to €53,747
- Current portion of long-term debt +€4,621
up €4,621 (+9.9%), from €46,518 to €51,139
- Gross operating margin +€39,534
up €39,534 (+99.8%), from €39,611 to €79,145
- Write-downs +€16,415
up €16,415, from -€200 to €16,215
- Taxes +€6,900
up €6,900 (+172.5%), from €4,000 to €10,900
- Financial charges -€1,447
down €1,447 (-50.1%), from €2,889 to €1,442
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 | €318,979 | €322,084 | +€3,105 | +1.0% |
| Fixed assets | 21/28 | €224,225 | €209,701 | -€14,525 | -6.5% |
| Tangible fixed assets | 22/27 | €214,978 | €200,453 | -€14,525 | -6.8% |
| Land and buildings | 22 | €193,437 | €187,167 | -€6,270 | -3.2% |
| Plant, machinery and equipment | 23 | €2,307 | €1,073 | -€1,234 | -53.5% |
| Furniture and vehicles | 24 | €898 | €4,173 | +€3,275 | +364.5% |
| Leasing and similar rights | 25 | €18,335 | €8,039 | -€10,296 | -56.2% |
| Financial fixed assets | 28 | €9,248 | €9,248 | = | 0.0% |
| Current assets | 29/58 | €94,754 | €112,384 | +€17,630 | +18.6% |
| Amounts receivable within one year | 40/41 | €80,761 | €106,763 | +€26,002 | +32.2% |
| Trade receivables | 40 | €72,898 | €100,677 | +€27,779 | +38.1% |
| Other amounts receivable | 41 | €7,863 | €6,086 | -€1,776 | -22.6% |
| Cash at bank and in hand | 54/58 | €11,808 | €4,523 | -€7,285 | -61.7% |
| Deferred charges and accrued income | 490/1 | €2,185 | €1,097 | -€1,088 | -49.8% |
| Total equity and liabilities | 10/49 | €318,979 | €322,084 | +€3,105 | +1.0% |
| Equity | 10/15 | €49,602 | €78,259 | +€28,657 | +57.8% |
| Contributions | 10/11 | €350 | €350 | = | 0.0% |
| Reserves | 13 | €7,976 | €7,976 | = | 0.0% |
| Non-distributable reserves | 130/1 | €35 | €35 | = | 0.0% |
| Reserves not available under the articles | 1311 | €35 | €35 | = | 0.0% |
| Distributable reserves | 133 | €7,941 | €7,941 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,276 | €69,933 | +€28,657 | +69.4% |
| Amounts payable | 17/49 | €269,377 | €243,825 | -€25,552 | -9.5% |
| Amounts payable after more than one year | 17 | €131,338 | €95,549 | -€35,789 | -27.2% |
| Financial debts | 170/4 | €129,938 | €94,149 | -€35,789 | -27.5% |
| Other amounts payable | 178/9 | €1,400 | €1,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €133,678 | €148,276 | +€14,598 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €46,518 | €51,139 | +€4,621 | +9.9% |
| Trade debts | 44 | €48,376 | €53,747 | +€5,371 | +11.1% |
| Suppliers | 440/4 | €48,376 | €53,747 | +€5,371 | +11.1% |
| Taxes, remuneration and social security | 45 | €5,761 | €14,900 | +€9,140 | +158.7% |
| Taxes | 450/3 | €5,761 | €14,900 | +€9,140 | +158.7% |
| Other amounts payable | 47/48 | €33,024 | €28,490 | -€4,534 | -13.7% |
| Accrued charges and deferred income | 492/3 | €4,361 | €0 | -€4,361 | -100.0% |
| Non-recurring operating income | 76A | €2,944 | - | -€2,944 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,390 | €18,648 | +€257 | +1.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€200 | €16,215 | +€16,415 | |
| Other operating charges | 640/8 | €3,591 | €3,521 | -€70 | -1.9% |
| Gross operating margin | 9900 | €39,611 | €79,145 | +€39,534 | +99.8% |
| Operating profit (loss) | 9901 | €17,830 | €40,762 | +€22,932 | +128.6% |
| Financial income | 75/76B | €127 | €238 | +€111 | +86.9% |
| Recurring financial income | 75 | €127 | €238 | +€111 | +86.9% |
| Financial charges | 65/66B | €2,889 | €1,442 | -€1,447 | -50.1% |
| Recurring financial charges | 65 | €2,889 | €1,442 | -€1,447 | -50.1% |
| Profit (loss) for the period before taxes | 9903 | €15,068 | €39,557 | +€24,489 | +162.5% |
| Income taxes | 67/77 | €4,000 | €10,900 | +€6,900 | +172.5% |
| Profit (loss) for the period | 9904 | €11,068 | €28,657 | +€17,589 | +158.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,068 | €28,657 | +€17,589 | +158.9% |
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.