MAAnn: 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.
MAAnn
Largest movements
- Cash +€18,457
up €18,457 (+64.5%), from €28,617 to €47,074
mainly Net result for the year (+€80,506) and Tax, wage and social debts (+€18,714)
- Tangible fixed assets -€14,805
down €14,805 (-25.8%), from €57,379 to €42,574
- Other debts -€46,485
down €46,485 (-38.5%), from €120,812 to €74,327
- Reserves +€44,345
up €44,345 (+32.3%), from €137,183 to €181,528
- Tax, wage and social debts +€18,714
up €18,714 (+89.7%), from €20,852 to €39,566
of which Taxes: +€18,714
- Debts after one year -€12,653
down €12,653 (-34.0%), from €37,250 to €24,596
- Gross operating margin +€57,899
up €57,899 (+71.7%), from €80,805 to €138,704
- Taxes +€17,649
up €17,649 (+75.4%), from €23,394 to €41,043
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 | €347,289 | €351,725 | +€4,437 | +1.3% |
| Fixed assets | 21/28 | €283,850 | €269,046 | -€14,805 | -5.2% |
| Tangible fixed assets | 22/27 | €57,379 | €42,574 | -€14,805 | -25.8% |
| Furniture and vehicles | 24 | €57,379 | €42,574 | -€14,805 | -25.8% |
| Financial fixed assets | 28 | €226,472 | €226,472 | = | 0.0% |
| Current assets | 29/58 | €63,438 | €82,680 | +€19,242 | +30.3% |
| Amounts receivable after more than one year | 29 | €15,750 | €15,750 | = | 0.0% |
| Other amounts receivable | 291 | €15,750 | €15,750 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €17,630 | €18,317 | +€687 | +3.9% |
| Trade receivables | 40 | €17,630 | €18,317 | +€687 | +3.9% |
| Cash at bank and in hand | 54/58 | €28,617 | €47,074 | +€18,457 | +64.5% |
| Deferred charges and accrued income | 490/1 | €1,442 | €1,539 | +€98 | +6.8% |
| Total equity and liabilities | 10/49 | €347,289 | €351,725 | +€4,437 | +1.3% |
| Equity | 10/15 | €155,783 | €200,128 | +€44,345 | +28.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €137,183 | €181,528 | +€44,345 | +32.3% |
| Distributable reserves | 133 | €137,183 | €181,528 | +€44,345 | +32.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €191,505 | €151,597 | -€39,908 | -20.8% |
| Amounts payable after more than one year | 17 | €37,250 | €24,596 | -€12,653 | -34.0% |
| Financial debts | 170/4 | €37,250 | €24,596 | -€12,653 | -34.0% |
| Amounts payable within one year | 42/48 | €154,256 | €127,001 | -€27,255 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €12,532 | €12,653 | +€122 | +1.0% |
| Trade debts | 44 | €60 | €454 | +€394 | +657% |
| Suppliers | 440/4 | €60 | €454 | +€394 | +657% |
| Taxes, remuneration and social security | 45 | €20,852 | €39,566 | +€18,714 | +89.7% |
| Taxes | 450/3 | €18,177 | €36,891 | +€18,714 | +103% |
| Remuneration and social security | 454/9 | €2,675 | €2,675 | = | 0.0% |
| Other amounts payable | 47/48 | €120,812 | €74,327 | -€46,485 | -38.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,061 | €14,805 | +€744 | +5.3% |
| Other operating charges | 640/8 | €704 | €1,510 | +€807 | +115% |
| Gross operating margin | 9900 | €80,805 | €138,704 | +€57,899 | +71.7% |
| Operating profit (loss) | 9901 | €66,041 | €122,389 | +€56,348 | +85.3% |
| Financial income | 75/76B | €4 | €10 | +€6 | +181% |
| Recurring financial income | 75 | €4 | €10 | +€6 | +181% |
| Financial charges | 65/66B | €630 | €850 | +€220 | +35.0% |
| Recurring financial charges | 65 | €630 | €850 | +€220 | +35.0% |
| Profit (loss) for the period before taxes | 9903 | €65,414 | €121,549 | +€56,134 | +85.8% |
| Income taxes | 67/77 | €23,394 | €41,043 | +€17,649 | +75.4% |
| Profit (loss) for the period | 9904 | €42,020 | €80,506 | +€38,486 | +91.6% |
| Profit (loss) for the period to be appropriated | 9905 | €42,020 | €80,506 | +€38,486 | +91.6% |
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 1 November 2026 via checked.be.