MAANCO: 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.
MAANCO
Largest movements
- Cash -€54,787
down €54,787 (-62.8%), from €87,242 to €32,456
mainly Tax, wage and social debts (-€21,730) and Net result for the year (-€13,207)
- Receivables within one year +€3,986
up €3,986 (+8.2%), from €48,375 to €52,361
of which Other amounts receivable: +€27,966
- Tangible fixed assets +€3,430
up €3,430 (+276.0%), from €1,243 to €4,672
of which Furniture and vehicles: +€3,127
- Tax, wage and social debts -€21,730
down €21,730 (-70.0%), from €31,040 to €9,310
of which Taxes: -€24,197
- Reserves -€13,207
down €13,207 (-16.6%), from €79,342 to €66,135
- Trade debts -€12,433
down €12,433 (-47.9%), from €25,978 to €13,545
- Gross operating margin -€114,951
down €114,951, from €102,399 to -€12,552
- Taxes -€20,976
down €20,976 (-99.4%), from €21,107 to €130
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 | €136,860 | €89,489 | -€47,371 | -34.6% |
| Fixed assets | 21/28 | €1,243 | €4,672 | +€3,430 | +276.0% |
| Tangible fixed assets | 22/27 | €1,243 | €4,672 | +€3,430 | +276.0% |
| Plant, machinery and equipment | 23 | €1,243 | €1,546 | +€303 | +24.4% |
| Furniture and vehicles | 24 | - | €3,127 | +€3,127 | |
| Current assets | 29/58 | €135,617 | €84,817 | -€50,800 | -37.5% |
| Amounts receivable within one year | 40/41 | €48,375 | €52,361 | +€3,986 | +8.2% |
| Trade receivables | 40 | €44,509 | €20,530 | -€23,980 | -53.9% |
| Other amounts receivable | 41 | €3,865 | €31,831 | +€27,966 | +723.5% |
| Cash at bank and in hand | 54/58 | €87,242 | €32,456 | -€54,787 | -62.8% |
| Total equity and liabilities | 10/49 | €136,860 | €89,489 | -€47,371 | -34.6% |
| Equity | 10/15 | €79,842 | €66,635 | -€13,207 | -16.5% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €79,342 | €66,135 | -€13,207 | -16.6% |
| Distributable reserves | 133 | €79,342 | €66,135 | -€13,207 | -16.6% |
| Amounts payable | 17/49 | €57,018 | €22,855 | -€34,163 | -59.9% |
| Amounts payable within one year | 42/48 | €57,018 | €22,855 | -€34,163 | -59.9% |
| Trade debts | 44 | €25,978 | €13,545 | -€12,433 | -47.9% |
| Suppliers | 440/4 | €25,978 | €13,545 | -€12,433 | -47.9% |
| Taxes, remuneration and social security | 45 | €31,040 | €9,310 | -€21,730 | -70.0% |
| Taxes | 450/3 | €30,560 | €6,363 | -€24,197 | -79.2% |
| Remuneration and social security | 454/9 | €480 | €2,947 | +€2,467 | +513.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,817 | €1,339 | -€478 | -26.3% |
| Other operating charges | 640/8 | €63 | €126 | +€63 | +99.7% |
| Gross operating margin | 9900 | €102,399 | -€12,552 | -€114,951 | |
| Operating profit (loss) | 9901 | €100,520 | -€14,016 | -€114,536 | |
| Financial income | 75/76B | €105 | €1,082 | +€977 | +928.6% |
| Recurring financial income | 75 | €105 | €1,082 | +€977 | +928.6% |
| Financial charges | 65/66B | €176 | €143 | -€33 | -19.0% |
| Recurring financial charges | 65 | €176 | €143 | -€33 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €100,449 | -€13,077 | -€113,526 | |
| Income taxes | 67/77 | €21,107 | €130 | -€20,976 | -99.4% |
| Profit (loss) for the period | 9904 | €79,342 | -€13,207 | -€92,549 | |
| Profit (loss) for the period to be appropriated | 9905 | €79,342 | -€13,207 | -€92,549 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.