Mazette: 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.
Mazette
Largest movements
- Cash -€67,019
down €67,019 (-63.3%), from €105,871 to €38,852
mainly Net result for the year (-€72,702) and Investment in fixed assets (net) (-€48,343)
- Tangible fixed assets -€30,503
down €30,503 (-10.4%), from €294,003 to €263,500
of which Other tangible fixed assets: -€21,936
- Receivables within one year -€23,030
down €23,030 (-70.8%), from €32,508 to €9,477
of which Other amounts receivable: -€25,765
- Stocks and contracts +€8,876
up €8,876 (+46.7%), from €18,987 to €27,863
- Deferred charges and accrued income +€8,164
new in 2025: €8,164
- Profit (loss) carried forward -€68,382
down €68,382 (-36.2%), from -€188,897 to -€257,279
- Debts after one year -€39,481
down €39,481 (-30.4%), from €129,982 to €90,501
- Investment grants -€13,190
down €13,190 (-13.7%), from €96,147 to €82,957
- Trade debts +€6,582
up €6,582 (+81.7%), from €8,055 to €14,637
- Accrued charges and deferred income +€5,711
up €5,711 (+336%), from €1,700 to €7,411
- Gross operating margin -€78,892
down €78,892 (-18.7%), from €421,428 to €342,536
- Staff costs +€9,477
up €9,477 (+3.1%), from €309,019 to €318,497
- Depreciation +€6,358
up €6,358 (+7.9%), from €80,504 to €86,861
- Other operating charges -€4,550
down €4,550 (-41.4%), from €10,997 to €6,447
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 | €482,812 | €371,284 | -€111,528 | -23.1% |
| Fixed assets | 21/28 | €325,446 | €286,927 | -€38,518 | -11.8% |
| Intangible fixed assets | 21 | €20,743 | €16,580 | -€4,163 | -20.1% |
| Tangible fixed assets | 22/27 | €294,003 | €263,500 | -€30,503 | -10.4% |
| Furniture and vehicles | 24 | €130,203 | €121,636 | -€8,567 | -6.6% |
| Other tangible fixed assets | 26 | €163,800 | €141,864 | -€21,936 | -13.4% |
| Financial fixed assets | 28 | €10,700 | €6,847 | -€3,853 | -36.0% |
| Current assets | 29/58 | €157,366 | €84,356 | -€73,010 | -46.4% |
| Stocks and contracts in progress | 3 | €18,987 | €27,863 | +€8,876 | +46.7% |
| Stocks | 30/36 | €18,987 | €27,863 | +€8,876 | +46.7% |
| Amounts receivable within one year | 40/41 | €32,508 | €9,477 | -€23,030 | -70.8% |
| Trade receivables | 40 | €6,743 | €9,477 | +€2,734 | +40.6% |
| Other amounts receivable | 41 | €25,765 | - | -€25,765 | |
| Cash at bank and in hand | 54/58 | €105,871 | €38,852 | -€67,019 | -63.3% |
| Deferred charges and accrued income | 490/1 | - | €8,164 | +€8,164 | |
| Total equity and liabilities | 10/49 | €482,812 | €371,284 | -€111,528 | -23.1% |
| Equity | 10/15 | €204,875 | €124,677 | -€80,198 | -39.1% |
| Contributions | 10/11 | €297,625 | €299,000 | +€1,375 | +0.5% |
| Contributions outside capital | 11 | €297,625 | €299,000 | +€1,375 | +0.5% |
| Other | 1109/19 | €297,625 | €299,000 | +€1,375 | +0.5% |
| Profit (loss) carried forward | 14 | -€188,897 | -€257,279 | -€68,382 | -36.2% |
| Investment grants | 15 | €96,147 | €82,957 | -€13,190 | -13.7% |
| Amounts payable | 17/49 | €277,937 | €246,606 | -€31,331 | -11.3% |
| Amounts payable after more than one year | 17 | €129,982 | €90,501 | -€39,481 | -30.4% |
| Financial debts | 170/4 | €129,982 | €90,501 | -€39,481 | -30.4% |
| Amounts payable within one year | 42/48 | €146,255 | €148,694 | +€2,439 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €38,691 | €39,481 | +€790 | +2.0% |
| Trade debts | 44 | €8,055 | €14,637 | +€6,582 | +81.7% |
| Suppliers | 440/4 | €8,055 | €14,637 | +€6,582 | +81.7% |
| Taxes, remuneration and social security | 45 | €54,248 | €49,315 | -€4,933 | -9.1% |
| Taxes | 450/3 | €8,627 | €16,810 | +€8,183 | +94.8% |
| Remuneration and social security | 454/9 | €45,621 | €32,505 | -€13,116 | -28.7% |
| Other amounts payable | 47/48 | €45,262 | €45,262 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,700 | €7,411 | +€5,711 | +336% |
| Remuneration, social security and pensions | 62 | €309,019 | €318,497 | +€9,477 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,504 | €86,861 | +€6,358 | +7.9% |
| Other operating charges | 640/8 | €10,997 | €6,447 | -€4,550 | -41.4% |
| Non-recurring operating charges | 66A | €2,709 | - | -€2,709 | |
| Gross operating margin | 9900 | €421,428 | €342,536 | -€78,892 | -18.7% |
| Operating profit (loss) | 9901 | €18,199 | -€69,269 | -€87,468 | |
| Financial income | 75/76B | €25 | €460 | +€435 | +1,772% |
| Recurring financial income | 75 | €25 | €460 | +€435 | +1,772% |
| Financial charges | 65/66B | €6,075 | €3,893 | -€2,182 | -35.9% |
| Recurring financial charges | 65 | €6,075 | €3,893 | -€2,182 | -35.9% |
| Profit (loss) for the period before taxes | 9903 | €12,148 | -€72,702 | -€84,850 | |
| Profit (loss) for the period | 9904 | €12,148 | -€72,702 | -€84,850 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,148 | -€72,702 | -€84,850 |
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 16 October 2026 via checked.be.