M-AKE: 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-AKE
Largest movements
- Receivables within one year -€7,864
down €7,864 (-38.2%), from €20,595 to €12,730
of which Trade receivables: -€5,756
- Cash -€2,032
down €2,032 (-36.3%), from €5,599 to €3,567
mainly Net result for the year (-€24,036) and Other debts (-€2,210)
- Financial fixed assets +€1,000
up €1,000, from €0 to €1,000
- Deferred charges and accrued income -€588
down €588 (-43.8%), from €1,342 to €754
- Tangible fixed assets -€339
down €339 (-28.6%), from €1,184 to €845
of which Furniture and vehicles: -€339
- Profit (loss) carried forward -€24,036
down €24,036 (-343.8%), from -€6,991 to -€31,027
- Accrued charges and deferred income +€9,139
new in 2025: €9,139
- Tax, wage and social debts +€5,940
up €5,940 (+4640.8%), from €128 to €6,068
of which Taxes: +€5,940
- Other debts -€2,210
down €2,210 (-25.7%), from €8,592 to €6,383
- Trade debts +€925
up €925 (+19.9%), from €4,653 to €5,578
- Gross operating margin -€9,351
down €9,351 (-133.7%), from -€6,993 to -€16,344
- Taxes +€5,587
up €5,587 (+4364.6%), from €128 to €5,715
- Financial income -€3,699
down €3,699 (-98.2%), from €3,766 to €67
of which Non-recurring financial income: -€3,755
- Other operating charges -€1,125
down €1,125 (-46.7%), from €2,410 to €1,286
- Depreciation -€272
down €272 (-44.6%), from €611 to €339
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 | €28,720 | €18,897 | -€9,823 | -34.2% |
| Fixed assets | 21/28 | €1,184 | €1,845 | +€661 | +55.9% |
| Tangible fixed assets | 22/27 | €1,184 | €845 | -€339 | -28.6% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,184 | €845 | -€339 | -28.6% |
| Financial fixed assets | 28 | €0 | €1,000 | +€1,000 | |
| Current assets | 29/58 | €27,536 | €17,052 | -€10,484 | -38.1% |
| Amounts receivable within one year | 40/41 | €20,595 | €12,730 | -€7,864 | -38.2% |
| Trade receivables | 40 | €18,219 | €12,462 | -€5,756 | -31.6% |
| Other amounts receivable | 41 | €2,376 | €268 | -€2,108 | -88.7% |
| Cash at bank and in hand | 54/58 | €5,599 | €3,567 | -€2,032 | -36.3% |
| Deferred charges and accrued income | 490/1 | €1,342 | €754 | -€588 | -43.8% |
| Total equity and liabilities | 10/49 | €28,720 | €18,897 | -€9,823 | -34.2% |
| Equity | 10/15 | €11,309 | -€12,728 | -€24,036 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €15,799 | €15,799 | = | 0.0% |
| Distributable reserves | 133 | €15,799 | €15,799 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,991 | -€31,027 | -€24,036 | -343.8% |
| Amounts payable | 17/49 | €17,411 | €31,624 | +€14,213 | +81.6% |
| Amounts payable within one year | 42/48 | €17,411 | €22,485 | +€5,074 | +29.1% |
| Financial debts | 43 | €4,038 | €4,456 | +€418 | +10.4% |
| Credit institutions | 430/8 | €4,038 | €4,456 | +€418 | +10.4% |
| Trade debts | 44 | €4,653 | €5,578 | +€925 | +19.9% |
| Suppliers | 440/4 | €4,653 | €5,578 | +€925 | +19.9% |
| Taxes, remuneration and social security | 45 | €128 | €6,068 | +€5,940 | +4640.8% |
| Taxes | 450/3 | €128 | €6,068 | +€5,940 | +4640.8% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €8,592 | €6,383 | -€2,210 | -25.7% |
| Accrued charges and deferred income | 492/3 | - | €9,139 | +€9,139 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €611 | €339 | -€272 | -44.6% |
| Other operating charges | 640/8 | €2,410 | €1,286 | -€1,125 | -46.7% |
| Gross operating margin | 9900 | -€6,993 | -€16,344 | -€9,351 | -133.7% |
| Operating profit (loss) | 9901 | -€10,015 | -€17,968 | -€7,954 | -79.4% |
| Financial income | 75/76B | €3,766 | €67 | -€3,699 | -98.2% |
| Recurring financial income | 75 | €11 | €67 | +€56 | +511.5% |
| Non-recurring financial income | 76B | €3,755 | €0 | -€3,755 | -100.0% |
| Financial charges | 65/66B | €614 | €420 | -€194 | -31.5% |
| Recurring financial charges | 65 | €614 | €420 | -€194 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,863 | -€18,321 | -€11,459 | -167.0% |
| Income taxes | 67/77 | €128 | €5,715 | +€5,587 | +4364.6% |
| Profit (loss) for the period | 9904 | -€6,991 | -€24,036 | -€17,046 | -243.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,991 | -€24,036 | -€17,046 | -243.8% |
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 29 September 2026 via checked.be.