LU-MAAI: 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.
LU-MAAI
Largest movements
- Receivables within one year -€3,383
down €3,383 (-29.1%), from €11,639 to €8,256
of which Trade receivables: -€3,381
- Cash +€1,159
up €1,159 (+2.5%), from €47,212 to €48,371
mainly Trade debts (+€9,799) and Receivables within one year (+€3,383)
- Deferred charges and accrued income -€1,072
down €1,072 (-35.7%), from €3,001 to €1,929
- Trade debts +€9,799
up €9,799 (+676%), from €1,450 to €11,249
- Tax, wage and social debts -€5,313
down €5,313 (-48.4%), from €10,972 to €5,658
of which Remuneration and social security: -€6,504
- Profit (loss) carried forward -€4,755
down €4,755 (-19.4%), from €24,466 to €19,711
- Other debts -€3,418
down €3,418 (-36.3%), from €9,426 to €6,008
- Gross operating margin -€4,228
down €4,228 (-10.9%), from €38,949 to €34,720
- Financial income -€1,598
down €1,598 (-95.8%), from €1,667 to €70
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €62,674 | €58,987 | -€3,687 | -5.9% |
| Fixed assets | 21/28 | €823 | €431 | -€392 | -47.6% |
| Tangible fixed assets | 22/27 | €823 | €431 | -€392 | -47.6% |
| Plant, machinery and equipment | 23 | €823 | €431 | -€392 | -47.6% |
| Current assets | 29/58 | €61,851 | €58,556 | -€3,296 | -5.3% |
| Amounts receivable within one year | 40/41 | €11,639 | €8,256 | -€3,383 | -29.1% |
| Trade receivables | 40 | €11,626 | €8,245 | -€3,381 | -29.1% |
| Other amounts receivable | 41 | €13 | €11 | -€2 | -16.1% |
| Cash at bank and in hand | 54/58 | €47,212 | €48,371 | +€1,159 | +2.5% |
| Deferred charges and accrued income | 490/1 | €3,001 | €1,929 | -€1,072 | -35.7% |
| Total equity and liabilities | 10/49 | €62,674 | €58,987 | -€3,687 | -5.9% |
| Equity | 10/15 | €40,826 | €36,071 | -€4,755 | -11.6% |
| Contributions | 10/11 | €16,360 | €16,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,466 | €19,711 | -€4,755 | -19.4% |
| Amounts payable | 17/49 | €21,848 | €22,916 | +€1,067 | +4.9% |
| Amounts payable within one year | 42/48 | €21,848 | €22,916 | +€1,067 | +4.9% |
| Trade debts | 44 | €1,450 | €11,249 | +€9,799 | +676% |
| Suppliers | 440/4 | €1,450 | €11,249 | +€9,799 | +676% |
| Taxes, remuneration and social security | 45 | €10,972 | €5,658 | -€5,313 | -48.4% |
| Taxes | 450/3 | €3,814 | €5,006 | +€1,191 | +31.2% |
| Remuneration and social security | 454/9 | €7,157 | €653 | -€6,504 | -90.9% |
| Other amounts payable | 47/48 | €9,426 | €6,008 | -€3,418 | -36.3% |
| Non-recurring operating income | 76A | €427 | €7,821 | +€7,394 | +1,732% |
| Remuneration, social security and pensions | 62 | €38,179 | €38,120 | -€59 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €397 | €392 | -€6 | -1.4% |
| Other operating charges | 640/8 | €535 | €550 | +€15 | +2.8% |
| Gross operating margin | 9900 | €38,949 | €34,720 | -€4,228 | -10.9% |
| Operating profit (loss) | 9901 | -€163 | -€4,342 | -€4,179 | -2,568% |
| Financial income | 75/76B | €1,667 | €70 | -€1,598 | -95.8% |
| Recurring financial income | 75 | €1,667 | €70 | -€1,598 | -95.8% |
| Financial charges | 65/66B | €410 | €483 | +€73 | +17.8% |
| Recurring financial charges | 65 | €410 | €483 | +€73 | +17.8% |
| Profit (loss) for the period before taxes | 9903 | €1,095 | -€4,755 | -€5,850 | |
| Profit (loss) for the period | 9904 | €1,095 | -€4,755 | -€5,850 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,095 | -€4,755 | -€5,850 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.