MABECON: 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.
MABECON
Largest movements
- Tangible fixed assets +€176,489
up €176,489 (+18.9%), from €933,181 to €1.1m
of which Other tangible fixed assets: +€181,794
- Receivables within one year +€59,813
up €59,813 (+67.7%), from €88,293 to €148,106
of which Other amounts receivable: +€52,313
- Other debts +€240,000
up €240,000 (+80.0%), from €300,000 to €540,000
- Profit (loss) carried forward -€116,512
down €116,512 (-42.3%), from -€275,375 to -€391,887
- Trade debts +€71,485
up €71,485 (+275%), from €25,962 to €97,447
- Tax, wage and social debts +€36,074
up €36,074 (+225%), from €16,035 to €52,109
of which Taxes: +€35,711
- Depreciation +€36,344
up €36,344 (+90.5%), from €40,164 to €76,507
- Staff costs +€5,512
up €5,512 (+4.1%), from €135,797 to €141,309
- Financial income +€3,575
up €3,575 (+530%), from €675 to €4,250
- Gross operating margin -€1,857
down €1,857 (-1.6%), from €115,367 to €113,510
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 | €1,110,156 | €1,341,204 | +€231,047 | +20.8% |
| Fixed assets | 21/28 | €933,181 | €1,109,670 | +€176,489 | +18.9% |
| Tangible fixed assets | 22/27 | €933,181 | €1,109,670 | +€176,489 | +18.9% |
| Land and buildings | 22 | €305,213 | €305,213 | = | 0.0% |
| Plant, machinery and equipment | 23 | €13,907 | €8,602 | -€5,305 | -38.1% |
| Other tangible fixed assets | 26 | €614,062 | €795,856 | +€181,794 | +29.6% |
| Current assets | 29/58 | €176,975 | €231,533 | +€54,559 | +30.8% |
| Amounts receivable within one year | 40/41 | €88,293 | €148,106 | +€59,813 | +67.7% |
| Trade receivables | 40 | €28,573 | €36,073 | +€7,500 | +26.2% |
| Other amounts receivable | 41 | €59,720 | €112,033 | +€52,313 | +87.6% |
| Cash at bank and in hand | 54/58 | €80,350 | €74,998 | -€5,352 | -6.7% |
| Deferred charges and accrued income | 490/1 | €8,332 | €8,430 | +€98 | +1.2% |
| Total equity and liabilities | 10/49 | €1,110,156 | €1,341,204 | +€231,047 | +20.8% |
| Equity | 10/15 | €768,159 | €651,648 | -€116,512 | -15.2% |
| Contributions | 10/11 | €1,022,809 | €1,022,809 | = | 0.0% |
| Capital | 10 | €1,022,809 | €1,022,809 | = | 0.0% |
| Issued capital | 100 | €1,022,809 | €1,022,809 | = | 0.0% |
| Reserves | 13 | €20,726 | €20,726 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,726 | €20,726 | = | 0.0% |
| Legal reserve | 130 | €20,726 | €20,726 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€275,375 | -€391,887 | -€116,512 | -42.3% |
| Amounts payable | 17/49 | €341,997 | €689,556 | +€347,559 | +102% |
| Amounts payable within one year | 42/48 | €341,997 | €689,556 | +€347,559 | +102% |
| Trade debts | 44 | €25,962 | €97,447 | +€71,485 | +275% |
| Suppliers | 440/4 | €25,962 | €97,447 | +€71,485 | +275% |
| Taxes, remuneration and social security | 45 | €16,035 | €52,109 | +€36,074 | +225% |
| Taxes | 450/3 | €5,802 | €41,513 | +€35,711 | +615% |
| Remuneration and social security | 454/9 | €10,233 | €10,596 | +€363 | +3.5% |
| Other amounts payable | 47/48 | €300,000 | €540,000 | +€240,000 | +80.0% |
| Remuneration, social security and pensions | 62 | €135,797 | €141,309 | +€5,512 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,164 | €76,507 | +€36,344 | +90.5% |
| Other operating charges | 640/8 | €16,587 | €16,328 | -€259 | -1.6% |
| Gross operating margin | 9900 | €115,367 | €113,510 | -€1,857 | -1.6% |
| Operating profit (loss) | 9901 | -€77,181 | -€120,635 | -€43,454 | -56.3% |
| Financial income | 75/76B | €675 | €4,250 | +€3,575 | +530% |
| Recurring financial income | 75 | €675 | €4,250 | +€3,575 | +530% |
| Financial charges | 65/66B | €154 | €127 | -€27 | -17.4% |
| Recurring financial charges | 65 | €154 | €127 | -€27 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | -€76,660 | -€116,512 | -€39,852 | -52.0% |
| Profit (loss) for the period | 9904 | -€76,660 | -€116,512 | -€39,852 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€76,660 | -€116,512 | -€39,852 | -52.0% |
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 25 October 2026 via checked.be.