MA Solar: 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 Solar
Largest movements
- Receivables within one year +€20,397
up €20,397 (+83.0%), from €24,578 to €44,974
of which Trade receivables: +€18,835
- Deferred charges and accrued income -€19,316
no longer reported in 2025 (was €19,316)
- Cash +€3,486
up €3,486 (+45.5%), from €7,667 to €11,153
mainly Deferred charges and accrued income (+€19,316) and Net result for the year (+€8,764)
- Profit (loss) carried forward +€8,764
up €8,764 (+56.4%), from €15,548 to €24,312
- Trade debts -€8,697
down €8,697 (-30.3%), from €28,730 to €20,033
- Tax, wage and social debts +€4,500
up €4,500 (+85.2%), from €5,283 to €9,783
- Turnover -€97,922
down €97,922 (-34.9%), from €280,405 to €182,483
- Purchases and services -€66,921
down €66,921 (-33.2%), from €201,325 to €134,404
- Gross operating margin -€30,971
down €30,971 (-36.4%), from €85,190 to €54,219
- Write-downs -€20,000
down €20,000 (-66.7%), from €30,000 to €10,000
- Staff costs -€3,270
down €3,270 (-9.6%), from €34,110 to €30,840
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 | €51,561 | €56,127 | +€4,566 | +8.9% |
| Current assets | 29/58 | €51,561 | €56,127 | +€4,566 | +8.9% |
| Amounts receivable within one year | 40/41 | €24,578 | €44,974 | +€20,397 | +83.0% |
| Trade receivables | 40 | €22,985 | €41,820 | +€18,835 | +81.9% |
| Other amounts receivable | 41 | €1,592 | €3,154 | +€1,562 | +98.1% |
| Cash at bank and in hand | 54/58 | €7,667 | €11,153 | +€3,486 | +45.5% |
| Deferred charges and accrued income | 490/1 | €19,316 | - | -€19,316 | |
| Total equity and liabilities | 10/49 | €51,561 | €56,127 | +€4,566 | +8.9% |
| Equity | 10/15 | €17,548 | €26,312 | +€8,764 | +49.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,548 | €24,312 | +€8,764 | +56.4% |
| Amounts payable | 17/49 | €34,013 | €29,816 | -€4,197 | -12.3% |
| Amounts payable within one year | 42/48 | €34,013 | €29,816 | -€4,197 | -12.3% |
| Trade debts | 44 | €28,730 | €20,033 | -€8,697 | -30.3% |
| Suppliers | 440/4 | €28,730 | €20,033 | -€8,697 | -30.3% |
| Taxes, remuneration and social security | 45 | €5,283 | €9,783 | +€4,500 | +85.2% |
| Taxes | 450/3 | €5,283 | €9,783 | +€4,500 | +85.2% |
| Turnover | 70 | €280,405 | €182,483 | -€97,922 | -34.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €201,325 | €134,404 | -€66,921 | -33.2% |
| Remuneration, social security and pensions | 62 | €34,110 | €30,840 | -€3,270 | -9.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €30,000 | €10,000 | -€20,000 | -66.7% |
| Other operating charges | 640/8 | €164 | - | -€164 | |
| Gross operating margin | 9900 | €85,190 | €54,219 | -€30,971 | -36.4% |
| Operating profit (loss) | 9901 | €20,915 | €13,379 | -€7,536 | -36.0% |
| Financial charges | 65/66B | €84 | €115 | +€31 | +36.6% |
| Recurring financial charges | 65 | €84 | €115 | +€31 | +36.6% |
| Profit (loss) for the period before taxes | 9903 | €20,831 | €13,264 | -€7,567 | -36.3% |
| Income taxes | 67/77 | €5,283 | €4,500 | -€783 | -14.8% |
| Profit (loss) for the period | 9904 | €15,548 | €8,764 | -€6,784 | -43.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,548 | €8,764 | -€6,784 | -43.6% |
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 23 October 2026 via checked.be.