THE MAURITZ: 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.
THE MAURITZ
Largest movements
- Tangible fixed assets -€107,794
down €107,794 (-10.2%), from €1.1m to €944,851
of which Furniture and vehicles: -€64,149
- Cash +€25,368
up €25,368 (+184%), from €13,754 to €39,122
mainly Depreciation (+€160,487) and Net result for the year (+€70,377)
- Debts after one year -€77,194
down €77,194 (-11.5%), from €671,773 to €594,579
- Reserves +€70,377
up €70,377 (+32.8%), from €214,679 to €285,056
- Advances received -€56,588
no longer reported in 2025 (was €56,588)
- Short-term financial debts +€44,510
new in 2025: €44,510
- Trade debts -€42,076
down €42,076 (-32.2%), from €130,575 to €88,499
- Staff costs +€62,658
up €62,658 (+55.0%), from €114,026 to €176,684
- Gross operating margin +€58,477
up €58,477 (+11.9%), from €489,793 to €548,270
- Financial charges +€32,909
up €32,909 (+176%), from €18,720 to €51,628
- Other operating charges +€27,766
up €27,766 (+168%), from €16,521 to €44,288
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 | €1,247,652 | €1,183,883 | -€63,769 | -5.1% |
| Fixed assets | 21/28 | €1,052,646 | €947,571 | -€105,075 | -10.0% |
| Intangible fixed assets | 21 | - | €1,919 | +€1,919 | |
| Tangible fixed assets | 22/27 | €1,052,646 | €944,851 | -€107,794 | -10.2% |
| Land and buildings | 22 | €665,265 | €643,565 | -€21,700 | -3.3% |
| Plant, machinery and equipment | 23 | €74,228 | €54,925 | -€19,303 | -26.0% |
| Furniture and vehicles | 24 | €242,794 | €178,645 | -€64,149 | -26.4% |
| Other tangible fixed assets | 26 | €70,359 | €67,716 | -€2,642 | -3.8% |
| Financial fixed assets | 28 | - | €800 | +€800 | |
| Current assets | 29/58 | €195,006 | €236,312 | +€41,306 | +21.2% |
| Amounts receivable within one year | 40/41 | €181,252 | €193,043 | +€11,792 | +6.5% |
| Trade receivables | 40 | €112,152 | €84,847 | -€27,305 | -24.3% |
| Other amounts receivable | 41 | €69,100 | €108,196 | +€39,096 | +56.6% |
| Cash at bank and in hand | 54/58 | €13,754 | €39,122 | +€25,368 | +184% |
| Deferred charges and accrued income | 490/1 | - | €4,146 | +€4,146 | |
| Total equity and liabilities | 10/49 | €1,247,652 | €1,183,883 | -€63,769 | -5.1% |
| Equity | 10/15 | €223,379 | €293,756 | +€70,377 | +31.5% |
| Contributions | 10/11 | €8,700 | €8,700 | = | 0.0% |
| Reserves | 13 | €214,679 | €285,056 | +€70,377 | +32.8% |
| Distributable reserves | 133 | €214,679 | €285,056 | +€70,377 | +32.8% |
| Amounts payable | 17/49 | €1,024,272 | €890,127 | -€134,146 | -13.1% |
| Amounts payable after more than one year | 17 | €671,773 | €594,579 | -€77,194 | -11.5% |
| Financial debts | 170/4 | €671,773 | €594,579 | -€77,194 | -11.5% |
| Amounts payable within one year | 42/48 | €347,803 | €290,249 | -€57,554 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €73,227 | €77,194 | +€3,967 | +5.4% |
| Financial debts | 43 | - | €44,510 | +€44,510 | |
| Credit institutions | 430/8 | - | €44,510 | +€44,510 | |
| Trade debts | 44 | €130,575 | €88,499 | -€42,076 | -32.2% |
| Suppliers | 440/4 | €130,575 | €88,499 | -€42,076 | -32.2% |
| Advances received on contracts in progress | 46 | €56,588 | - | -€56,588 | |
| Taxes, remuneration and social security | 45 | €84,921 | €61,079 | -€23,842 | -28.1% |
| Taxes | 450/3 | €57,860 | €37,181 | -€20,679 | -35.7% |
| Remuneration and social security | 454/9 | €27,061 | €23,898 | -€3,163 | -11.7% |
| Other amounts payable | 47/48 | €2,492 | €18,967 | +€16,475 | +661% |
| Accrued charges and deferred income | 492/3 | €4,696 | €5,299 | +€603 | +12.8% |
| Non-recurring operating income | 76A | €10,000 | - | -€10,000 | |
| Remuneration, social security and pensions | 62 | €114,026 | €176,684 | +€62,658 | +55.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161,105 | €160,487 | -€618 | -0.4% |
| Other operating charges | 640/8 | €16,521 | €44,288 | +€27,766 | +168% |
| Gross operating margin | 9900 | €489,793 | €548,270 | +€58,477 | +11.9% |
| Operating profit (loss) | 9901 | €198,140 | €166,811 | -€31,329 | -15.8% |
| Financial income | 75/76B | €1,426 | €266 | -€1,159 | -81.3% |
| Recurring financial income | 75 | €1,426 | €266 | -€1,159 | -81.3% |
| Financial charges | 65/66B | €18,720 | €51,628 | +€32,909 | +176% |
| Recurring financial charges | 65 | €18,720 | €51,628 | +€32,909 | +176% |
| Profit (loss) for the period before taxes | 9903 | €180,846 | €115,450 | -€65,397 | -36.2% |
| Income taxes | 67/77 | €43,624 | €45,072 | +€1,448 | +3.3% |
| Profit (loss) for the period | 9904 | €137,222 | €70,377 | -€66,845 | -48.7% |
| Profit (loss) for the period to be appropriated | 9905 | €137,222 | €70,377 | -€66,845 | -48.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.