MAZEDIAM: 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.
MAZEDIAM
Largest movements
- Cash -€141,244
down €141,244 (-78.1%), from €180,884 to €39,641
mainly Net result for the year (-€218,887) and Trade debts (-€3,151)
- Stocks and contracts -€56,413
down €56,413 (-4.1%), from €1.4m to €1.3m
- Receivables within one year -€20,808
down €20,808 (-9.8%), from €211,254 to €190,445
of which Trade receivables: -€18,808
- Reserves -€218,887
down €218,887 (-16.6%), from €1.3m to €1.1m
- Gross operating margin -€169,627
down €169,627 (-491.8%), from -€34,494 to -€204,121
- Staff costs -€4,616
down €4,616 (-88.5%), from €5,215 to €598
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 | €1,821,531 | €1,595,007 | -€226,524 | -12.4% |
| Fixed assets | 21/28 | €40,369 | €33,206 | -€7,163 | -17.7% |
| Tangible fixed assets | 22/27 | €39,338 | €32,175 | -€7,163 | -18.2% |
| Land and buildings | 22 | €27,642 | €24,643 | -€2,999 | -10.9% |
| Plant, machinery and equipment | 23 | €1,582 | €954 | -€628 | -39.7% |
| Furniture and vehicles | 24 | €10,114 | €6,578 | -€3,536 | -35.0% |
| Financial fixed assets | 28 | €1,031 | €1,031 | = | 0.0% |
| Current assets | 29/58 | €1,781,162 | €1,561,801 | -€219,361 | -12.3% |
| Stocks and contracts in progress | 3 | €1,384,570 | €1,328,157 | -€56,413 | -4.1% |
| Stocks | 30/36 | €1,384,570 | €1,328,157 | -€56,413 | -4.1% |
| Amounts receivable within one year | 40/41 | €211,254 | €190,445 | -€20,808 | -9.8% |
| Trade receivables | 40 | €199,349 | €180,541 | -€18,808 | -9.4% |
| Other amounts receivable | 41 | €11,904 | €9,904 | -€2,000 | -16.8% |
| Cash at bank and in hand | 54/58 | €180,884 | €39,641 | -€141,244 | -78.1% |
| Deferred charges and accrued income | 490/1 | €4,454 | €3,558 | -€896 | -20.1% |
| Total equity and liabilities | 10/49 | €1,821,531 | €1,595,007 | -€226,524 | -12.4% |
| Equity | 10/15 | €1,384,449 | €1,165,561 | -€218,887 | -15.8% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €1,322,475 | €1,103,588 | -€218,887 | -16.6% |
| Distributable reserves | 133 | €1,322,475 | €1,103,588 | -€218,887 | -16.6% |
| Amounts payable | 17/49 | €437,082 | €429,445 | -€7,636 | -1.7% |
| Amounts payable after more than one year | 17 | €341,628 | €341,628 | = | 0.0% |
| Financial debts | 170/4 | €98,503 | €98,503 | = | 0.0% |
| Other amounts payable | 178/9 | €243,125 | €243,125 | = | 0.0% |
| Amounts payable within one year | 42/48 | €95,454 | €87,612 | -€7,842 | -8.2% |
| Trade debts | 44 | €24,414 | €21,263 | -€3,151 | -12.9% |
| Suppliers | 440/4 | €24,414 | €21,263 | -€3,151 | -12.9% |
| Taxes, remuneration and social security | 45 | €7,060 | €5,061 | -€1,999 | -28.3% |
| Taxes | 450/3 | €2,660 | €5,061 | +€2,401 | +90.3% |
| Remuneration and social security | 454/9 | €4,400 | - | -€4,400 | |
| Other amounts payable | 47/48 | €63,980 | €61,288 | -€2,692 | -4.2% |
| Accrued charges and deferred income | 492/3 | - | €205 | +€205 | |
| Remuneration, social security and pensions | 62 | €5,215 | €598 | -€4,616 | -88.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,163 | €7,163 | = | 0.0% |
| Other operating charges | 640/8 | €3,477 | €1,701 | -€1,777 | -51.1% |
| Gross operating margin | 9900 | -€34,494 | -€204,121 | -€169,627 | -491.8% |
| Operating profit (loss) | 9901 | -€50,349 | -€213,583 | -€163,234 | -324.2% |
| Financial income | 75/76B | €90 | €306 | +€216 | +239.1% |
| Recurring financial income | 75 | €90 | €306 | +€216 | +239.1% |
| Financial charges | 65/66B | €6,411 | €4,580 | -€1,831 | -28.6% |
| Recurring financial charges | 65 | €6,411 | €4,580 | -€1,831 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | -€56,670 | -€217,857 | -€161,187 | -284.4% |
| Income taxes | 67/77 | €1,804 | €1,030 | -€774 | -42.9% |
| Profit (loss) for the period | 9904 | -€58,474 | -€218,887 | -€160,413 | -274.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€58,474 | -€218,887 | -€160,413 | -274.3% |
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.