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
- Stocks and contracts +€1,741
up €1,741 (+25.8%), from €6,735 to €8,476
- Cash +€1,266
up €1,266 (+108.9%), from €1,163 to €2,429
mainly Net result for the year (+€2,377) and Tax, wage and social debts (+€1,545)
- Receivables within one year -€425
no longer reported in 2025 (was €425)
- Profit (loss) carried forward +€2,377
up €2,377 (+58.7%), from €4,051 to €6,428
- Tax, wage and social debts +€1,545
up €1,545 (+557.6%), from €277 to €1,822
- Trade debts -€714
down €714 (-69.9%), from €1,022 to €307
- Other debts -€626
down €626 (-39.1%), from €1,601 to €975
- Purchases and services -€8,897
down €8,897 (-25.9%), from €34,320 to €25,423
- Gross operating margin +€6,152
up €6,152, from -€985 to €5,167
- Turnover -€2,745
down €2,745 (-8.2%), from €33,335 to €30,590
- Other operating charges -€1,728
down €1,728 (-49.1%), from €3,519 to €1,791
- Taxes +€792
new in 2025: €792
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 | €8,323 | €10,904 | +€2,581 | +31.0% |
| Current assets | 29/58 | €8,323 | €10,904 | +€2,581 | +31.0% |
| Stocks and contracts in progress | 3 | €6,735 | €8,476 | +€1,741 | +25.8% |
| Stocks | 30/36 | €6,735 | €8,476 | +€1,741 | +25.8% |
| Amounts receivable within one year | 40/41 | €425 | - | -€425 | |
| Other amounts receivable | 41 | €425 | - | -€425 | |
| Cash at bank and in hand | 54/58 | €1,163 | €2,429 | +€1,266 | +108.9% |
| Total equity and liabilities | 10/49 | €8,323 | €10,904 | +€2,581 | +31.0% |
| Equity | 10/15 | €5,424 | €7,800 | +€2,377 | +43.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €373 | €373 | = | 0.0% |
| Non-distributable reserves | 130/1 | €373 | €373 | = | 0.0% |
| Reserves not available under the articles | 1311 | €373 | €373 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,051 | €6,428 | +€2,377 | +58.7% |
| Amounts payable | 17/49 | €2,899 | €3,104 | +€205 | +7.1% |
| Amounts payable within one year | 42/48 | €2,899 | €3,104 | +€205 | +7.1% |
| Trade debts | 44 | €1,022 | €307 | -€714 | -69.9% |
| Suppliers | 440/4 | €1,022 | €307 | -€714 | -69.9% |
| Taxes, remuneration and social security | 45 | €277 | €1,822 | +€1,545 | +557.6% |
| Taxes | 450/3 | €277 | €1,822 | +€1,545 | +557.6% |
| Other amounts payable | 47/48 | €1,601 | €975 | -€626 | -39.1% |
| Turnover | 70 | €33,335 | €30,590 | -€2,745 | -8.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €34,320 | €25,423 | -€8,897 | -25.9% |
| Other operating charges | 640/8 | €3,519 | €1,791 | -€1,728 | -49.1% |
| Gross operating margin | 9900 | -€985 | €5,167 | +€6,152 | |
| Operating profit (loss) | 9901 | -€4,504 | €3,376 | +€7,880 | |
| Financial charges | 65/66B | €136 | €207 | +€71 | +52.2% |
| Recurring financial charges | 65 | €136 | €207 | +€71 | +52.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,640 | €3,169 | +€7,809 | |
| Income taxes | 67/77 | - | €792 | +€792 | |
| Profit (loss) for the period | 9904 | -€4,640 | €2,377 | +€7,017 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,640 | €2,377 | +€7,017 |
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 7 October 2026 via checked.be.