B-MAAD MANAGEMENT: 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.
B-MAAD MANAGEMENT
Largest movements
- Cash +€8,432
up €8,432 (+135%), from €6,232 to €14,664
mainly Current portion of long-term debt (+€5,210) and Receivables within one year (+€4,587)
- Receivables within one year -€4,587
down €4,587 (-28.0%), from €16,401 to €11,814
- Deferred charges and accrued income +€685
up €685 (+97.1%), from €705 to €1,390
- Current portion of long-term debt +€5,210
new in 2025: €5,210
- Trade debts -€4,514
down €4,514 (-94.7%), from €4,769 to €255
- Debts after one year +€4,513
new in 2025: €4,513
- Other debts -€2,219
down €2,219 (-56.4%), from €3,936 to €1,717
- Profit (loss) carried forward +€672
up €672 (+17.3%), from €3,893 to €4,565
- Gross operating margin -€12,165
down €12,165 (-71.3%), from €17,050 to €4,885
- Taxes -€2,237
down €2,237 (-50.0%), from €4,479 to €2,241
- Financial charges +€474
up €474 (+118%), from €400 to €875
- Other operating charges -€235
down €235 (-22.2%), from €1,057 to €822
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 | €23,614 | €27,869 | +€4,255 | +18.0% |
| Fixed assets | 21/28 | €275 | - | -€275 | |
| Tangible fixed assets | 22/27 | €275 | - | -€275 | |
| Furniture and vehicles | 24 | €275 | - | -€275 | |
| Current assets | 29/58 | €23,338 | €27,869 | +€4,530 | +19.4% |
| Amounts receivable within one year | 40/41 | €16,401 | €11,814 | -€4,587 | -28.0% |
| Trade receivables | 40 | €16,401 | €11,814 | -€4,587 | -28.0% |
| Cash at bank and in hand | 54/58 | €6,232 | €14,664 | +€8,432 | +135% |
| Deferred charges and accrued income | 490/1 | €705 | €1,390 | +€685 | +97.1% |
| Total equity and liabilities | 10/49 | €23,614 | €27,869 | +€4,255 | +18.0% |
| Equity | 10/15 | €5,393 | €6,065 | +€672 | +12.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,893 | €4,565 | +€672 | +17.3% |
| Amounts payable | 17/49 | €18,221 | €21,804 | +€3,583 | +19.7% |
| Amounts payable after more than one year | 17 | - | €4,513 | +€4,513 | |
| Financial debts | 170/4 | - | €4,513 | +€4,513 | |
| Amounts payable within one year | 42/48 | €18,221 | €17,291 | -€930 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | - | €5,210 | +€5,210 | |
| Trade debts | 44 | €4,769 | €255 | -€4,514 | -94.7% |
| Suppliers | 440/4 | €4,769 | €255 | -€4,514 | -94.7% |
| Taxes, remuneration and social security | 45 | €9,516 | €10,109 | +€593 | +6.2% |
| Taxes | 450/3 | €8,266 | €8,309 | +€43 | +0.5% |
| Remuneration and social security | 454/9 | €1,250 | €1,800 | +€550 | +44.0% |
| Other amounts payable | 47/48 | €3,936 | €1,717 | -€2,219 | -56.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €393 | €275 | -€118 | -29.9% |
| Other operating charges | 640/8 | €1,057 | €822 | -€235 | -22.2% |
| Gross operating margin | 9900 | €17,050 | €4,885 | -€12,165 | -71.3% |
| Operating profit (loss) | 9901 | €15,600 | €3,788 | -€11,812 | -75.7% |
| Financial charges | 65/66B | €400 | €875 | +€474 | +118% |
| Recurring financial charges | 65 | €400 | €875 | +€474 | +118% |
| Profit (loss) for the period before taxes | 9903 | €15,200 | €2,913 | -€12,287 | -80.8% |
| Income taxes | 67/77 | €4,479 | €2,241 | -€2,237 | -50.0% |
| Profit (loss) for the period | 9904 | €10,721 | €672 | -€10,049 | -93.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,721 | €672 | -€10,049 | -93.7% |
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 28 October 2026 via checked.be.