MA2GI: 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.
MA2GI
Largest movements
- Cash +€18,030
up €18,030 (+240.4%), from €7,501 to €25,531
mainly Net result for the year (+€251,085) and Tax, wage and social debts (+€27,224)
- Receivables within one year -€10,323
down €10,323 (-68.8%), from €15,000 to €4,677
of which Trade receivables: -€15,000
- Profit (loss) carried forward +€81,085
up €81,085 (+16.9%), from €478,689 to €559,774
- Other debts -€71,928
down €71,928 (-24.2%), from €296,628 to €224,700
- Tax, wage and social debts +€27,224
up €27,224 (+55.6%), from €48,997 to €76,221
- Debts after one year -€17,547
down €17,547 (-26.9%), from €65,168 to €47,621
- Financial income +€70,399
up €70,399 (+115.5%), from €60,951 to €131,350
- Gross operating margin +€6,063
up €6,063 (+3.7%), from €163,804 to €169,867
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 | €922,031 | €929,470 | +€7,438 | +0.8% |
| Fixed assets | 21/28 | €899,530 | €899,261 | -€269 | 0.0% |
| Tangible fixed assets | 22/27 | €730 | €461 | -€269 | -36.8% |
| Furniture and vehicles | 24 | €730 | €461 | -€269 | -36.8% |
| Financial fixed assets | 28 | €898,800 | €898,800 | = | 0.0% |
| Current assets | 29/58 | €22,501 | €30,208 | +€7,708 | +34.3% |
| Amounts receivable within one year | 40/41 | €15,000 | €4,677 | -€10,323 | -68.8% |
| Trade receivables | 40 | €15,000 | €0 | -€15,000 | -100.0% |
| Other amounts receivable | 41 | - | €4,677 | +€4,677 | |
| Cash at bank and in hand | 54/58 | €7,501 | €25,531 | +€18,030 | +240.4% |
| Total equity and liabilities | 10/49 | €922,031 | €929,470 | +€7,438 | +0.8% |
| Equity | 10/15 | €481,689 | €562,774 | +€81,085 | +16.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €478,689 | €559,774 | +€81,085 | +16.9% |
| Amounts payable | 17/49 | €440,342 | €366,696 | -€73,646 | -16.7% |
| Amounts payable after more than one year | 17 | €65,168 | €47,621 | -€17,547 | -26.9% |
| Financial debts | 170/4 | €65,168 | €47,621 | -€17,547 | -26.9% |
| Amounts payable within one year | 42/48 | €375,174 | €319,075 | -€56,100 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €26,747 | €17,547 | -€9,200 | -34.4% |
| Financial debts | 43 | - | €170 | +€170 | |
| Credit institutions | 430/8 | - | €170 | +€170 | |
| Trade debts | 44 | €2,802 | €437 | -€2,366 | -84.4% |
| Suppliers | 440/4 | €2,802 | €437 | -€2,366 | -84.4% |
| Taxes, remuneration and social security | 45 | €48,997 | €76,221 | +€27,224 | +55.6% |
| Taxes | 450/3 | €48,997 | €76,221 | +€27,224 | +55.6% |
| Other amounts payable | 47/48 | €296,628 | €224,700 | -€71,928 | -24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €234 | €269 | +€35 | +15.1% |
| Other operating charges | 640/8 | €980 | €1,413 | +€433 | +44.2% |
| Gross operating margin | 9900 | €163,804 | €169,867 | +€6,063 | +3.7% |
| Operating profit (loss) | 9901 | €162,590 | €168,185 | +€5,595 | +3.4% |
| Financial income | 75/76B | €60,951 | €131,350 | +€70,399 | +115.5% |
| Recurring financial income | 75 | €60,951 | €131,350 | +€70,399 | +115.5% |
| Financial charges | 65/66B | €5,833 | €6,606 | +€773 | +13.3% |
| Recurring financial charges | 65 | €5,833 | €6,606 | +€773 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | €217,708 | €292,929 | +€75,220 | +34.6% |
| Income taxes | 67/77 | €41,078 | €41,844 | +€766 | +1.9% |
| Profit (loss) for the period | 9904 | €176,630 | €251,085 | +€74,455 | +42.2% |
| Profit (loss) for the period to be appropriated | 9905 | €176,630 | €251,085 | +€74,455 | +42.2% |
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.