MA-NI: 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.
MA-NI
Largest movements
- Tangible fixed assets -€9,043
down €9,043 (-2.6%), from €349,265 to €340,222
of which Land and buildings: -€8,443
- Debts after one year -€19,088
down €19,088 (-5.8%), from €328,544 to €309,456
of which Financial debts: -€19,088
- Profit (loss) carried forward +€9,262
up €9,262, from -€6,283 to €2,979
- Gross operating margin +€3,660
up €3,660 (+14.9%), from €24,548 to €28,207
- Financial charges -€570
down €570 (-7.0%), from €8,113 to €7,543
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 | €350,591 | €341,611 | -€8,980 | -2.6% |
| Fixed assets | 21/28 | €349,265 | €340,222 | -€9,043 | -2.6% |
| Tangible fixed assets | 22/27 | €349,265 | €340,222 | -€9,043 | -2.6% |
| Land and buildings | 22 | €347,496 | €339,053 | -€8,443 | -2.4% |
| Plant, machinery and equipment | 23 | €1,769 | €1,169 | -€600 | -33.9% |
| Current assets | 29/58 | €1,326 | €1,389 | +€64 | +4.8% |
| Amounts receivable within one year | 40/41 | €751 | €258 | -€493 | -65.6% |
| Other amounts receivable | 41 | €751 | €258 | -€493 | -65.6% |
| Cash at bank and in hand | 54/58 | €1 | €555 | +€554 | +59,544% |
| Deferred charges and accrued income | 490/1 | €574 | €576 | +€3 | +0.5% |
| Total equity and liabilities | 10/49 | €350,591 | €341,611 | -€8,980 | -2.6% |
| Equity | 10/15 | -€1,283 | €7,979 | +€9,262 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,283 | €2,979 | +€9,262 | |
| Amounts payable | 17/49 | €351,874 | €333,632 | -€18,242 | -5.2% |
| Amounts payable after more than one year | 17 | €328,544 | €309,456 | -€19,088 | -5.8% |
| Financial debts | 170/4 | €253,544 | €234,456 | -€19,088 | -7.5% |
| Other amounts payable | 178/9 | €75,000 | €75,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €23,330 | €24,176 | +€846 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €18,519 | €19,088 | +€569 | +3.1% |
| Trade debts | 44 | €126 | €128 | +€2 | +1.5% |
| Suppliers | 440/4 | €126 | €128 | +€2 | +1.5% |
| Taxes, remuneration and social security | 45 | - | €275 | +€275 | |
| Taxes | 450/3 | - | €275 | +€275 | |
| Other amounts payable | 47/48 | €4,685 | €4,685 | +€0 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,043 | €9,043 | = | 0.0% |
| Other operating charges | 640/8 | €2,028 | €2,083 | +€55 | +2.7% |
| Gross operating margin | 9900 | €24,548 | €28,207 | +€3,660 | +14.9% |
| Operating profit (loss) | 9901 | €13,476 | €17,081 | +€3,604 | +26.7% |
| Financial charges | 65/66B | €8,113 | €7,543 | -€570 | -7.0% |
| Recurring financial charges | 65 | €8,113 | €7,543 | -€570 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €5,364 | €9,537 | +€4,174 | +77.8% |
| Income taxes | 67/77 | - | €275 | +€275 | |
| Profit (loss) for the period | 9904 | €5,364 | €9,262 | +€3,899 | +72.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,364 | €9,262 | +€3,899 | +72.7% |
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 14 October 2026 via checked.be.