M.A.: what changed
Two fiscal 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.
M.A.
Largest movements
- Cash -€11,420
down €11,420 (-24.6%), from €46,388 to €34,968
mainly Tax, wage and social debts (-€17,011) and Trade debts (-€379)
- Tax, wage and social debts -€17,011
down €17,011 (-91.8%), from €18,526 to €1,515
- Profit (loss) carried forward +€5,206
up €5,206 (+36.5%), from €14,263 to €19,469
- Other operating charges -€2,964
down €2,964 (-46.4%), from €6,394 to €3,430
- Financial charges +€1,955
up €1,955 (+814.9%), from €240 to €2,195
- Gross operating margin -€1,571
down €1,571 (-12.5%), from €12,545 to €10,974
- Depreciation -€890
down €890 (-84.3%), from €1,056 to €166
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.
Cash bridge derived
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 | €49,438 | €37,253 | -€12,184 | -24.6% |
| Fixed assets | 21/28 | €1,034 | €868 | -€166 | -16.1% |
| Tangible fixed assets | 22/27 | €166 | - | -€166 | |
| Land and buildings | 22 | €166 | - | -€166 | |
| Financial fixed assets | 28 | €868 | €868 | = | 0.0% |
| Current assets | 29/58 | €48,404 | €36,386 | -€12,018 | -24.8% |
| Amounts receivable within one year | 40/41 | €1,813 | €1,418 | -€395 | -21.8% |
| Other amounts receivable | 41 | €1,813 | €1,418 | -€395 | -21.8% |
| Cash at bank and in hand | 54/58 | €46,388 | €34,968 | -€11,420 | -24.6% |
| Deferred charges and accrued income | 490/1 | €203 | - | -€203 | |
| Total equity and liabilities | 10/49 | €49,438 | €37,253 | -€12,184 | -24.6% |
| Equity | 10/15 | €28,517 | €33,723 | +€5,206 | +18.3% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,263 | €19,469 | +€5,206 | +36.5% |
| Amounts payable | 17/49 | €20,921 | €3,531 | -€17,390 | -83.1% |
| Amounts payable within one year | 42/48 | €20,921 | €3,531 | -€17,390 | -83.1% |
| Trade debts | 44 | €1,159 | €780 | -€379 | -32.7% |
| Suppliers | 440/4 | €1,159 | €780 | -€379 | -32.7% |
| Taxes, remuneration and social security | 45 | €18,526 | €1,515 | -€17,011 | -91.8% |
| Taxes | 450/3 | €18,526 | €1,515 | -€17,011 | -91.8% |
| Other amounts payable | 47/48 | €1,236 | €1,236 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €32 | - | -€32 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,056 | €166 | -€890 | -84.3% |
| Other operating charges | 640/8 | €6,394 | €3,430 | -€2,964 | -46.4% |
| Gross operating margin | 9900 | €12,545 | €10,974 | -€1,571 | -12.5% |
| Operating profit (loss) | 9901 | €5,063 | €7,377 | +€2,314 | +45.7% |
| Financial income | 75/76B | - | €100 | +€100 | |
| Recurring financial income | 75 | - | €100 | +€100 | |
| Financial charges | 65/66B | €240 | €2,195 | +€1,955 | +814.9% |
| Recurring financial charges | 65 | €240 | €2,195 | +€1,955 | +814.9% |
| Profit (loss) for the period before taxes | 9903 | €4,823 | €5,282 | +€459 | +9.5% |
| Profit (loss) for the period | 9904 | €4,823 | €5,282 | +€459 | +9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,823 | €5,282 | +€459 | +9.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.