MA & PARTNERS: 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 & PARTNERS
Largest movements
- Receivables within one year +€71,754
up €71,754 (+64.5%), from €111,187 to €182,941
of which Trade receivables: +€71,692
- Cash +€32,577
up €32,577 (+203%), from €16,050 to €48,627
mainly Trade debts (+€62,049) and Other debts (+€40,732)
- Tangible fixed assets -€8,453
down €8,453 (-22.4%), from €37,784 to €29,331
- Stocks and contracts +€3,442
up €3,442 (+89.6%), from €3,843 to €7,285
- Trade debts +€62,049
up €62,049 (+45.0%), from €137,902 to €199,951
- Other debts +€40,732
up €40,732 (+407%), from €10,000 to €50,732
- Tax, wage and social debts -€11,550
down €11,550 (-40.2%), from €28,713 to €17,163
of which Remuneration and social security: -€7,163
- Profit (loss) carried forward +€7,337
up €7,337 (+67.6%), from -€10,848 to -€3,511
- Staff costs -€23,290
down €23,290 (-33.0%), from €70,552 to €47,262
- Other operating charges -€9,329
down €9,329 (-95.6%), from €9,761 to €431
- Gross operating margin +€9,159
up €9,159 (+16.0%), from €57,311 to €66,471
- Depreciation +€3,972
up €3,972 (+88.7%), from €4,481 to €8,453
- Financial charges +€1,126
up €1,126 (+49.5%), from €2,275 to €3,402
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 | €169,767 | €268,335 | +€98,568 | +58.1% |
| Fixed assets | 21/28 | €37,934 | €29,481 | -€8,453 | -22.3% |
| Tangible fixed assets | 22/27 | €37,784 | €29,331 | -€8,453 | -22.4% |
| Furniture and vehicles | 24 | €37,784 | €29,331 | -€8,453 | -22.4% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €131,833 | €238,854 | +€107,021 | +81.2% |
| Stocks and contracts in progress | 3 | €3,843 | €7,285 | +€3,442 | +89.6% |
| Stocks | 30/36 | €3,843 | €7,285 | +€3,442 | +89.6% |
| Amounts receivable within one year | 40/41 | €111,187 | €182,941 | +€71,754 | +64.5% |
| Trade receivables | 40 | €102,272 | €173,964 | +€71,692 | +70.1% |
| Other amounts receivable | 41 | €8,916 | €8,977 | +€62 | +0.7% |
| Cash at bank and in hand | 54/58 | €16,050 | €48,627 | +€32,577 | +203% |
| Deferred charges and accrued income | 490/1 | €752 | - | -€752 | |
| Total equity and liabilities | 10/49 | €169,767 | €268,335 | +€98,568 | +58.1% |
| Equity | 10/15 | -€6,848 | €489 | +€7,337 | |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,848 | -€3,511 | +€7,337 | +67.6% |
| Amounts payable | 17/49 | €176,615 | €267,846 | +€91,231 | +51.7% |
| Amounts payable within one year | 42/48 | €176,615 | €267,846 | +€91,231 | +51.7% |
| Trade debts | 44 | €137,902 | €199,951 | +€62,049 | +45.0% |
| Suppliers | 440/4 | €137,902 | €199,951 | +€62,049 | +45.0% |
| Taxes, remuneration and social security | 45 | €28,713 | €17,163 | -€11,550 | -40.2% |
| Taxes | 450/3 | €8,412 | €4,025 | -€4,387 | -52.2% |
| Remuneration and social security | 454/9 | €20,301 | €13,138 | -€7,163 | -35.3% |
| Other amounts payable | 47/48 | €10,000 | €50,732 | +€40,732 | +407% |
| Remuneration, social security and pensions | 62 | €70,552 | €47,262 | -€23,290 | -33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,481 | €8,453 | +€3,972 | +88.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €400 | - | -€400 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €9,761 | €431 | -€9,329 | -95.6% |
| Gross operating margin | 9900 | €57,311 | €66,471 | +€9,159 | +16.0% |
| Operating profit (loss) | 9901 | -€27,881 | €10,325 | +€38,206 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +1,167% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +1,167% |
| Financial charges | 65/66B | €2,275 | €3,402 | +€1,126 | +49.5% |
| Recurring financial charges | 65 | €2,275 | €3,402 | +€1,126 | +49.5% |
| Profit (loss) for the period before taxes | 9903 | -€30,157 | €6,924 | +€37,080 | |
| Income taxes | 67/77 | €681 | - | -€681 | |
| Profit (loss) for the period | 9904 | -€30,837 | €6,924 | +€37,761 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,837 | €6,924 | +€37,761 |
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 13 October 2026 via checked.be.