MAZERAY: 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.
MAZERAY
Largest movements
- Cash +€38,736
up €38,736 (+265%), from €14,622 to €53,358
mainly Other debts (+€19,515) and Net result for the year (+€11,682)
- Stocks and contracts +€4,186
up €4,186 (+2.8%), from €151,049 to €155,235
- Other debts +€19,515
up €19,515 (+166%), from €11,740 to €31,255
- Reserves -€11,281
down €11,281 (-22.1%), from €51,005 to €39,724
of which Distributable reserves: -€11,281
- Trade debts +€10,253
up €10,253 (+2,647%), from €387 to €10,640
- Tax, wage and social debts +€10,143
up €10,143, from €0 to €10,143
- Debts after one year +€10,000
up €10,000 (+9.1%), from €110,447 to €120,447
- Gross operating margin +€25,212
up €25,212, from -€7,836 to €17,376
- Taxes +€3,657
up €3,657, from €0 to €3,657
- Other operating charges -€1,153
down €1,153 (-54.7%), from €2,108 to €954
- Financial charges +€697
up €697 (+282%), from €247 to €945
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 | €176,906 | €219,253 | +€42,347 | +23.9% |
| Fixed assets | 21/28 | - | €1,298 | +€1,298 | |
| Tangible fixed assets | 22/27 | - | €1,298 | +€1,298 | |
| Plant, machinery and equipment | 23 | - | €1,298 | +€1,298 | |
| Current assets | 29/58 | €176,906 | €217,956 | +€41,049 | +23.2% |
| Stocks and contracts in progress | 3 | €151,049 | €155,235 | +€4,186 | +2.8% |
| Stocks | 30/36 | €151,049 | €155,235 | +€4,186 | +2.8% |
| Amounts receivable within one year | 40/41 | €10,661 | €9,363 | -€1,298 | -12.2% |
| Trade receivables | 40 | €8,142 | €9,363 | +€1,221 | +15.0% |
| Other amounts receivable | 41 | €2,518 | €0 | -€2,518 | -100% |
| Cash at bank and in hand | 54/58 | €14,622 | €53,358 | +€38,736 | +265% |
| Deferred charges and accrued income | 490/1 | €575 | €0 | -€575 | -100% |
| Total equity and liabilities | 10/49 | €176,906 | €219,253 | +€42,347 | +23.9% |
| Equity | 10/15 | €54,333 | €45,924 | -€8,408 | -15.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €51,005 | €39,724 | -€11,281 | -22.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €51,005 | €39,724 | -€11,281 | -22.1% |
| Profit (loss) carried forward | 14 | -€2,872 | €0 | +€2,872 | |
| Amounts payable | 17/49 | €122,574 | €173,329 | +€50,755 | +41.4% |
| Amounts payable after more than one year | 17 | €110,447 | €120,447 | +€10,000 | +9.1% |
| Financial debts | 170/4 | €110,447 | €120,447 | +€10,000 | +9.1% |
| Amounts payable within one year | 42/48 | €12,127 | €52,038 | +€39,911 | +329% |
| Trade debts | 44 | €387 | €10,640 | +€10,253 | +2,647% |
| Suppliers | 440/4 | €387 | €10,640 | +€10,253 | +2,647% |
| Taxes, remuneration and social security | 45 | €0 | €10,143 | +€10,143 | |
| Taxes | 450/3 | €0 | €10,143 | +€10,143 | |
| Other amounts payable | 47/48 | €11,740 | €31,255 | +€19,515 | +166% |
| Accrued charges and deferred income | 492/3 | - | €845 | +€845 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €139 | +€139 | |
| Other operating charges | 640/8 | €2,108 | €954 | -€1,153 | -54.7% |
| Gross operating margin | 9900 | -€7,836 | €17,376 | +€25,212 | |
| Operating profit (loss) | 9901 | -€9,944 | €16,283 | +€26,227 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €247 | €945 | +€697 | +282% |
| Recurring financial charges | 65 | €247 | €945 | +€697 | +282% |
| Profit (loss) for the period before taxes | 9903 | -€10,191 | €15,339 | +€25,530 | |
| Income taxes | 67/77 | €0 | €3,657 | +€3,657 | |
| Profit (loss) for the period | 9904 | -€10,191 | €11,682 | +€21,873 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,191 | €11,682 | +€21,873 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.