M.AYOUB: 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.AYOUB
Largest movements
- Receivables within one year -€7,065
down €7,065 (-45.3%), from €15,606 to €8,541
of which Trade receivables: -€7,820
- Cash -€2,886
down €2,886 (-11.9%), from €24,268 to €21,383
mainly Other debts (-€14,130) and Advances received (-€8,289)
- Stocks and contracts -€1,250
down €1,250 (-89.3%), from €1,400 to €150
- Intangible fixed assets -€800
down €800 (-11.1%), from €7,200 to €6,400
- Tangible fixed assets -€757
down €757 (-39.8%), from €1,900 to €1,143
- Other debts -€14,130
down €14,130 (-44.2%), from €31,945 to €17,815
- Advances received -€8,289
no longer reported in 2025 (was €8,289)
- Trade debts +€4,851
up €4,851 (+254.5%), from €1,906 to €6,757
- Profit (loss) carried forward +€4,811
up €4,811 (+43.4%), from -€11,085 to -€6,274
- Gross operating margin -€10,122
down €10,122 (-56.7%), from €17,848 to €7,726
- Depreciation -€1,500
down €1,500 (-49.1%), from €3,057 to €1,557
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 | €51,516 | €38,758 | -€12,757 | -24.8% |
| Fixed assets | 21/28 | €10,241 | €8,684 | -€1,557 | -15.2% |
| Intangible fixed assets | 21 | €7,200 | €6,400 | -€800 | -11.1% |
| Tangible fixed assets | 22/27 | €1,900 | €1,143 | -€757 | -39.8% |
| Plant, machinery and equipment | 23 | €1,900 | €1,143 | -€757 | -39.8% |
| Financial fixed assets | 28 | €1,142 | €1,142 | = | 0.0% |
| Current assets | 29/58 | €41,275 | €30,074 | -€11,201 | -27.1% |
| Stocks and contracts in progress | 3 | €1,400 | €150 | -€1,250 | -89.3% |
| Stocks | 30/36 | €1,400 | €150 | -€1,250 | -89.3% |
| Amounts receivable within one year | 40/41 | €15,606 | €8,541 | -€7,065 | -45.3% |
| Trade receivables | 40 | €14,193 | €6,373 | -€7,820 | -55.1% |
| Other amounts receivable | 41 | €1,413 | €2,168 | +€755 | +53.4% |
| Cash at bank and in hand | 54/58 | €24,268 | €21,383 | -€2,886 | -11.9% |
| Total equity and liabilities | 10/49 | €51,516 | €38,758 | -€12,757 | -24.8% |
| Equity | 10/15 | €9,375 | €14,186 | +€4,811 | +51.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,085 | -€6,274 | +€4,811 | +43.4% |
| Amounts payable | 17/49 | €42,141 | €24,572 | -€17,568 | -41.7% |
| Amounts payable within one year | 42/48 | €42,141 | €24,572 | -€17,568 | -41.7% |
| Trade debts | 44 | €1,906 | €6,757 | +€4,851 | +254.5% |
| Suppliers | 440/4 | €1,906 | €6,757 | +€4,851 | +254.5% |
| Advances received on contracts in progress | 46 | €8,289 | - | -€8,289 | |
| Other amounts payable | 47/48 | €31,945 | €17,815 | -€14,130 | -44.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,057 | €1,557 | -€1,500 | -49.1% |
| Other operating charges | 640/8 | €1,290 | €1,202 | -€87 | -6.8% |
| Gross operating margin | 9900 | €17,848 | €7,726 | -€10,122 | -56.7% |
| Operating profit (loss) | 9901 | €13,501 | €4,966 | -€8,534 | -63.2% |
| Financial income | 75/76B | €26 | €2 | -€24 | -92.7% |
| Recurring financial income | 75 | €26 | €2 | -€24 | -92.7% |
| Financial charges | 65/66B | €270 | €157 | -€113 | -41.8% |
| Recurring financial charges | 65 | €270 | €157 | -€113 | -41.8% |
| Profit (loss) for the period before taxes | 9903 | €13,256 | €4,811 | -€8,445 | -63.7% |
| Profit (loss) for the period | 9904 | €13,256 | €4,811 | -€8,445 | -63.7% |
| Profit (loss) for the period to be appropriated | 9905 | €13,256 | €4,811 | -€8,445 | -63.7% |
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 5 October 2026 via checked.be.