M.A. BUILD: 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.
M.A. BUILD
Largest movements
- Cash -€9,294
down €9,294 (-43.3%), from €21,471 to €12,176
mainly Trade debts (-€9,118) and Tax, wage and social debts (-€4,242)
- Receivables within one year -€5,889
down €5,889 (-8.4%), from €69,967 to €64,078
of which Trade receivables: -€12,624
- Tangible fixed assets -€4,320
down €4,320 (-39.9%), from €10,828 to €6,508
of which Furniture and vehicles: -€5,820
- Trade debts -€9,118
down €9,118 (-59.1%), from €15,429 to €6,310
- Tax, wage and social debts -€4,242
down €4,242 (-23.1%), from €18,337 to €14,095
- Profit (loss) carried forward -€2,532
down €2,532 (-5.4%), from €47,040 to €44,508
- Current portion of long-term debt -€1,904
down €1,904 (-66.3%), from €2,869 to €966
- Gross operating margin -€46,787
down €46,787 (-87.9%), from €53,254 to €6,467
- Taxes -€13,545
down €13,545 (-97.9%), from €13,840 to €295
- Depreciation +€939
up €939 (+14.0%), from €6,695 to €7,634
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 | €102,701 | €83,939 | -€18,762 | -18.3% |
| Fixed assets | 21/28 | €10,828 | €6,508 | -€4,320 | -39.9% |
| Tangible fixed assets | 22/27 | €10,828 | €6,508 | -€4,320 | -39.9% |
| Plant, machinery and equipment | 23 | - | €1,500 | +€1,500 | |
| Furniture and vehicles | 24 | €10,828 | €5,008 | -€5,820 | -53.7% |
| Current assets | 29/58 | €91,873 | €77,431 | -€14,442 | -15.7% |
| Amounts receivable within one year | 40/41 | €69,967 | €64,078 | -€5,889 | -8.4% |
| Trade receivables | 40 | €59,384 | €46,760 | -€12,624 | -21.3% |
| Other amounts receivable | 41 | €10,583 | €17,318 | +€6,734 | +63.6% |
| Cash at bank and in hand | 54/58 | €21,471 | €12,176 | -€9,294 | -43.3% |
| Deferred charges and accrued income | 490/1 | €436 | €1,178 | +€741 | +170% |
| Total equity and liabilities | 10/49 | €102,701 | €83,939 | -€18,762 | -18.3% |
| Equity | 10/15 | €65,100 | €62,568 | -€2,532 | -3.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €11,860 | €11,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,040 | €44,508 | -€2,532 | -5.4% |
| Amounts payable | 17/49 | €37,601 | €21,371 | -€16,230 | -43.2% |
| Amounts payable after more than one year | 17 | €966 | - | -€966 | |
| Financial debts | 170/4 | €966 | - | -€966 | |
| Amounts payable within one year | 42/48 | €36,635 | €21,371 | -€15,264 | -41.7% |
| Current portion of amounts payable after more than one year | 42 | €2,869 | €966 | -€1,904 | -66.3% |
| Trade debts | 44 | €15,429 | €6,310 | -€9,118 | -59.1% |
| Suppliers | 440/4 | €15,429 | €6,310 | -€9,118 | -59.1% |
| Taxes, remuneration and social security | 45 | €18,337 | €14,095 | -€4,242 | -23.1% |
| Taxes | 450/3 | €18,337 | €14,095 | -€4,242 | -23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,695 | €7,634 | +€939 | +14.0% |
| Other operating charges | 640/8 | €840 | €925 | +€85 | +10.1% |
| Gross operating margin | 9900 | €53,254 | €6,467 | -€46,787 | -87.9% |
| Operating profit (loss) | 9901 | €45,719 | -€2,092 | -€47,811 | |
| Financial income | 75/76B | €13 | €5 | -€9 | -64.0% |
| Recurring financial income | 75 | €13 | €5 | -€9 | -64.0% |
| Financial charges | 65/66B | €147 | €150 | +€2 | +1.5% |
| Recurring financial charges | 65 | €147 | €150 | +€2 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €45,585 | -€2,237 | -€47,822 | |
| Income taxes | 67/77 | €13,840 | €295 | -€13,545 | -97.9% |
| Profit (loss) for the period | 9904 | €31,745 | -€2,532 | -€34,277 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,745 | -€2,532 | -€34,277 |
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 15 October 2026 via checked.be.