MABRA: 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.
MABRA
Largest movements
- Cash +€409,177
new in 2025: €409,177
mainly Net result for the year (+€280,354) and Tax, wage and social debts (+€111,355)
- Tangible fixed assets -€31,498
down €31,498 (-60.6%), from €51,998 to €20,500
of which Land and buildings: -€31,498
- Reserves +€191,184
up €191,184 (+6,345%), from €3,013 to €194,197
of which Distributable reserves: +€188,000
- Tax, wage and social debts +€111,355
up €111,355 (+92,603%), from €120 to €111,475
- Profit (loss) carried forward +€89,170
up €89,170, from -€88,483 to €687
- Short-term financial debts -€9,983
no longer reported in 2025 (was €9,983)
- Trade debts -€8,736
down €8,736 (-83.1%), from €10,516 to €1,780
- Gross operating margin +€400,690
up €400,690, from -€142 to €400,549
- Taxes +€111,475
new in 2025: €111,475
- Other operating charges -€8,456
down €8,456 (-62.8%), from €13,459 to €5,003
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 | €52,102 | €429,677 | +€377,574 | +725% |
| Fixed assets | 21/28 | €51,998 | €20,500 | -€31,498 | -60.6% |
| Tangible fixed assets | 22/27 | €51,998 | €20,500 | -€31,498 | -60.6% |
| Land and buildings | 22 | €51,998 | €20,500 | -€31,498 | -60.6% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €104 | €409,177 | +€409,073 | +392,358% |
| Amounts receivable within one year | 40/41 | €104 | - | -€104 | |
| Other amounts receivable | 41 | €104 | - | -€104 | |
| Cash at bank and in hand | 54/58 | - | €409,177 | +€409,177 | |
| Total equity and liabilities | 10/49 | €52,102 | €429,677 | +€377,574 | +725% |
| Equity | 10/15 | -€23,496 | €256,858 | +€280,354 | |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €3,013 | €194,197 | +€191,184 | +6,345% |
| Non-distributable reserves | 130/1 | €3,013 | €6,197 | +€3,184 | +106% |
| Legal reserve | 130 | - | €6,197 | +€6,197 | |
| Reserves not available under the articles | 1311 | €3,013 | - | -€3,013 | |
| Distributable reserves | 133 | - | €188,000 | +€188,000 | |
| Profit (loss) carried forward | 14 | -€88,483 | €687 | +€89,170 | |
| Amounts payable | 17/49 | €75,599 | €172,819 | +€97,220 | +129% |
| Amounts payable within one year | 42/48 | €75,599 | €172,819 | +€97,220 | +129% |
| Financial debts | 43 | €9,983 | - | -€9,983 | |
| Credit institutions | 430/8 | €9,983 | - | -€9,983 | |
| Trade debts | 44 | €10,516 | €1,780 | -€8,736 | -83.1% |
| Suppliers | 440/4 | €10,516 | €1,780 | -€8,736 | -83.1% |
| Taxes, remuneration and social security | 45 | €120 | €111,475 | +€111,355 | +92,603% |
| Taxes | 450/3 | €120 | €111,475 | +€111,355 | +92,603% |
| Other amounts payable | 47/48 | €54,980 | €59,564 | +€4,584 | +8.3% |
| Remuneration, social security and pensions | 62 | €3,313 | - | -€3,313 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,821 | €1,701 | -€2,120 | -55.5% |
| Other operating charges | 640/8 | €13,459 | €5,003 | -€8,456 | -62.8% |
| Gross operating margin | 9900 | -€142 | €400,549 | +€400,690 | |
| Operating profit (loss) | 9901 | -€20,735 | €393,844 | +€414,579 | |
| Financial income | 75/76B | - | €122 | +€122 | |
| Recurring financial income | 75 | - | €122 | +€122 | |
| Financial charges | 65/66B | €1,864 | €2,137 | +€273 | +14.6% |
| Recurring financial charges | 65 | €1,864 | €2,137 | +€273 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | -€22,599 | €391,829 | +€414,429 | |
| Income taxes | 67/77 | - | €111,475 | +€111,475 | |
| Profit (loss) for the period | 9904 | -€22,599 | €280,354 | +€302,954 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,599 | €280,354 | +€302,954 |
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.