MAZAL: 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.
MAZAL
Largest movements
- Receivables within one year +€18,448
up €18,448 (+481.7%), from €3,830 to €22,278
- Tangible fixed assets +€6,422
new in 2025: €6,422
- Cash -€796
down €796 (-99.0%), from €804 to €8
mainly Receivables within one year (-€18,448) and Investment in fixed assets (net) (-€7,896)
- Trade debts +€20,495
up €20,495 (+265.7%), from €7,714 to €28,210
- Other debts +€4,200
up €4,200 (+2.2%), from €192,764 to €196,964
- Tax, wage and social debts -€1,981
down €1,981 (-92.1%), from €2,152 to €171
- Profit (loss) carried forward +€1,360
up €1,360 (+0.7%), from -€198,180 to -€196,820
- Gross operating margin +€3,359
up €3,359, from -€327 to €3,032
- Depreciation +€1,474
new in 2025: €1,474
- Financial charges +€47
up €47 (+28.9%), from €161 to €208
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 | €23,051 | €47,125 | +€24,074 | +104.4% |
| Fixed assets | 21/28 | - | €6,422 | +€6,422 | |
| Tangible fixed assets | 22/27 | - | €6,422 | +€6,422 | |
| Furniture and vehicles | 24 | - | €6,422 | +€6,422 | |
| Current assets | 29/58 | €23,051 | €40,703 | +€17,652 | +76.6% |
| Stocks and contracts in progress | 3 | €17,142 | €17,142 | = | 0.0% |
| Stocks | 30/36 | €17,142 | €17,142 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,830 | €22,278 | +€18,448 | +481.7% |
| Trade receivables | 40 | €3,830 | €22,278 | +€18,448 | +481.7% |
| Cash at bank and in hand | 54/58 | €804 | €8 | -€796 | -99.0% |
| Deferred charges and accrued income | 490/1 | €1,275 | €1,275 | = | 0.0% |
| Total equity and liabilities | 10/49 | €23,051 | €47,125 | +€24,074 | +104.4% |
| Equity | 10/15 | -€179,580 | -€178,220 | +€1,360 | +0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€198,180 | -€196,820 | +€1,360 | +0.7% |
| Amounts payable | 17/49 | €202,630 | €225,345 | +€22,714 | +11.2% |
| Amounts payable within one year | 42/48 | €202,630 | €225,345 | +€22,714 | +11.2% |
| Trade debts | 44 | €7,714 | €28,210 | +€20,495 | +265.7% |
| Suppliers | 440/4 | €7,714 | €28,210 | +€20,495 | +265.7% |
| Taxes, remuneration and social security | 45 | €2,152 | €171 | -€1,981 | -92.1% |
| Taxes | 450/3 | €2,152 | €171 | -€1,981 | -92.1% |
| Other amounts payable | 47/48 | €192,764 | €196,964 | +€4,200 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,474 | +€1,474 | |
| Gross operating margin | 9900 | -€327 | €3,032 | +€3,359 | |
| Operating profit (loss) | 9901 | -€327 | €1,558 | +€1,885 | |
| Financial income | 75/76B | €0 | €9 | +€9 | +46400.0% |
| Recurring financial income | 75 | €0 | €9 | +€9 | +46400.0% |
| Financial charges | 65/66B | €161 | €208 | +€47 | +28.9% |
| Recurring financial charges | 65 | €161 | €208 | +€47 | +28.9% |
| Profit (loss) for the period before taxes | 9903 | -€488 | €1,360 | +€1,848 | |
| Profit (loss) for the period | 9904 | -€488 | €1,360 | +€1,848 | |
| Profit (loss) for the period to be appropriated | 9905 | -€488 | €1,360 | +€1,848 |
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 10 October 2026 via checked.be.