MAZUIN PROPERTIES: what changed
Two fiscal 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.
MAZUIN PROPERTIES
Largest movements
- Tangible fixed assets -€445,905
down €445,905 (-21.0%), from €2.1m to €1.7m
of which Furniture and vehicles: -€304,955
- Receivables within one year -€195,643
down €195,643 (-60.4%), from €323,679 to €128,036
of which Trade receivables: -€136,184
- Stocks and contracts +€84,740
up €84,740 (+190.6%), from €44,461 to €129,201
- Cash -€51,474
down €51,474 (-67.8%), from €75,923 to €24,450
mainly Debts after one year (-€434,667) and Net result for the year (-€133,056)
- Debts after one year -€434,667
down €434,667 (-21.1%), from €2.1m to €1.6m
of which Other amounts payable: -€349,072
- Profit (loss) carried forward -€133,056
down €133,056 (-85.4%), from €155,825 to €22,769
- Depreciation +€56,857
up €56,857 (+47.8%), from €118,889 to €175,746
- Provisions +€34,000
no longer reported in 2025 (was -€34,000)
- Financial charges +€22,189
up €22,189 (+231.6%), from €9,583 to €31,772
- Staff costs -€21,841
down €21,841 (-93.3%), from €23,402 to €1,561
- Gross operating margin +€6,675
up €6,675 (+7.5%), from €89,473 to €96,148
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 | €2,580,292 | €1,964,031 | -€616,261 | -23.9% |
| Fixed assets | 21/28 | €2,124,067 | €1,677,957 | -€446,110 | -21.0% |
| Tangible fixed assets | 22/27 | €2,123,862 | €1,677,957 | -€445,905 | -21.0% |
| Land and buildings | 22 | €1,547,094 | €1,406,972 | -€140,121 | -9.1% |
| Plant, machinery and equipment | 23 | €5,557 | €4,728 | -€829 | -14.9% |
| Furniture and vehicles | 24 | €571,212 | €266,257 | -€304,955 | -53.4% |
| Financial fixed assets | 28 | €205 | - | -€205 | |
| Current assets | 29/58 | €456,224 | €286,074 | -€170,150 | -37.3% |
| Stocks and contracts in progress | 3 | €44,461 | €129,201 | +€84,740 | +190.6% |
| Stocks | 30/36 | €44,461 | €129,201 | +€84,740 | +190.6% |
| Amounts receivable within one year | 40/41 | €323,679 | €128,036 | -€195,643 | -60.4% |
| Trade receivables | 40 | €253,038 | €116,854 | -€136,184 | -53.8% |
| Other amounts receivable | 41 | €70,640 | €11,182 | -€59,459 | -84.2% |
| Cash at bank and in hand | 54/58 | €75,923 | €24,450 | -€51,474 | -67.8% |
| Deferred charges and accrued income | 490/1 | €12,161 | €4,387 | -€7,774 | -63.9% |
| Total equity and liabilities | 10/49 | €2,580,292 | €1,964,031 | -€616,261 | -23.9% |
| Equity | 10/15 | €422,444 | €289,389 | -€133,056 | -31.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €205,119 | €205,119 | = | 0.0% |
| Non-distributable reserves | 130/1 | €201,860 | €201,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €200,000 | €200,000 | = | 0.0% |
| Distributable reserves | 133 | €3,259 | €3,259 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,825 | €22,769 | -€133,056 | -85.4% |
| Amounts payable | 17/49 | €2,157,848 | €1,674,643 | -€483,205 | -22.4% |
| Amounts payable after more than one year | 17 | €2,055,687 | €1,621,020 | -€434,667 | -21.1% |
| Financial debts | 170/4 | €800,169 | €714,574 | -€85,595 | -10.7% |
| Other amounts payable | 178/9 | €1,255,518 | €906,446 | -€349,072 | -27.8% |
| Amounts payable within one year | 42/48 | €100,250 | €49,679 | -€50,571 | -50.4% |
| Current portion of amounts payable after more than one year | 42 | €65,702 | €46,964 | -€18,737 | -28.5% |
| Trade debts | 44 | €20,825 | €214 | -€20,611 | -99.0% |
| Suppliers | 440/4 | €20,825 | €214 | -€20,611 | -99.0% |
| Taxes, remuneration and social security | 45 | €13,724 | €2,501 | -€11,223 | -81.8% |
| Taxes | 450/3 | €12,317 | €2,501 | -€9,816 | -79.7% |
| Remuneration and social security | 454/9 | €1,407 | - | -€1,407 | |
| Accrued charges and deferred income | 492/3 | €1,910 | €3,944 | +€2,034 | +106.5% |
| Non-recurring operating income | 76A | €117,879 | - | -€117,879 | |
| Remuneration, social security and pensions | 62 | €23,402 | €1,561 | -€21,841 | -93.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,889 | €175,746 | +€56,857 | +47.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€34,000 | - | +€34,000 | |
| Other operating charges | 640/8 | €11,982 | €17,625 | +€5,644 | +47.1% |
| Non-recurring operating charges | 66A | €31,558 | - | -€31,558 | |
| Gross operating margin | 9900 | €89,473 | €96,148 | +€6,675 | +7.5% |
| Operating profit (loss) | 9901 | -€62,359 | -€98,785 | -€36,426 | -58.4% |
| Financial income | 75/76B | €19 | €2 | -€17 | -91.5% |
| Recurring financial income | 75 | €19 | €2 | -€17 | -91.5% |
| Financial charges | 65/66B | €9,583 | €31,772 | +€22,189 | +231.6% |
| Recurring financial charges | 65 | €9,583 | €31,772 | +€22,189 | +231.6% |
| Profit (loss) for the period before taxes | 9903 | -€71,923 | -€130,555 | -€58,632 | -81.5% |
| Income taxes | 67/77 | - | €2,501 | +€2,501 | |
| Profit (loss) for the period | 9904 | -€71,923 | -€133,056 | -€61,133 | -85.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€71,923 | -€133,056 | -€61,133 | -85.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.