MAAT: 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.
MAAT
Largest movements
- Cash +€9,803
up €9,803 (+79.2%), from €12,385 to €22,188
mainly Net result for the year (+€16,864) and Receivables within one year (+€4,986)
- Receivables within one year -€4,986
down €4,986 (-6.1%), from €81,359 to €76,374
of which Other amounts receivable: -€8,997
- Reserves +€16,864
up €16,864 (+28.6%), from €59,036 to €75,900
- Tax, wage and social debts -€10,998
down €10,998 (-48.3%), from €22,773 to €11,775
- Trade debts -€1,194
down €1,194 (-9.3%), from €12,787 to €11,592
- Gross operating margin -€51,962
down €51,962 (-71.0%), from €73,136 to €21,174
- Taxes -€10,941
down €10,941 (-69.9%), from €15,646 to €4,704
- Depreciation +€854
up €854 (+83.3%), from €1,025 to €1,879
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 | €98,595 | €103,357 | +€4,763 | +4.8% |
| Fixed assets | 21/28 | €4,352 | €3,551 | -€801 | -18.4% |
| Tangible fixed assets | 22/27 | €4,352 | €3,551 | -€801 | -18.4% |
| Land and buildings | 22 | €1,903 | €1,703 | -€200 | -10.5% |
| Plant, machinery and equipment | 23 | €1,470 | €370 | -€1,100 | -74.8% |
| Furniture and vehicles | 24 | €979 | €1,478 | +€499 | +51.0% |
| Current assets | 29/58 | €94,243 | €99,807 | +€5,563 | +5.9% |
| Amounts receivable within one year | 40/41 | €81,359 | €76,374 | -€4,986 | -6.1% |
| Trade receivables | 40 | €10,731 | €14,742 | +€4,011 | +37.4% |
| Other amounts receivable | 41 | €70,628 | €61,632 | -€8,997 | -12.7% |
| Cash at bank and in hand | 54/58 | €12,385 | €22,188 | +€9,803 | +79.2% |
| Deferred charges and accrued income | 490/1 | €500 | €1,245 | +€746 | +149% |
| Total equity and liabilities | 10/49 | €98,595 | €103,357 | +€4,763 | +4.8% |
| Equity | 10/15 | €63,036 | €79,900 | +€16,864 | +26.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €59,036 | €75,900 | +€16,864 | +28.6% |
| Distributable reserves | 133 | €59,036 | €75,900 | +€16,864 | +28.6% |
| Amounts payable | 17/49 | €35,559 | €23,458 | -€12,102 | -34.0% |
| Amounts payable within one year | 42/48 | €35,559 | €23,458 | -€12,102 | -34.0% |
| Financial debts | 43 | - | €91 | +€91 | |
| Credit institutions | 430/8 | - | €91 | +€91 | |
| Trade debts | 44 | €12,787 | €11,592 | -€1,194 | -9.3% |
| Suppliers | 440/4 | €12,787 | €11,592 | -€1,194 | -9.3% |
| Taxes, remuneration and social security | 45 | €22,773 | €11,775 | -€10,998 | -48.3% |
| Taxes | 450/3 | €22,773 | €11,775 | -€10,998 | -48.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,025 | €1,879 | +€854 | +83.3% |
| Other operating charges | 640/8 | €1,556 | €1,406 | -€150 | -9.6% |
| Gross operating margin | 9900 | €73,136 | €21,174 | -€51,962 | -71.0% |
| Operating profit (loss) | 9901 | €70,555 | €17,889 | -€52,666 | -74.6% |
| Financial income | 75/76B | €4,471 | €4,071 | -€400 | -9.0% |
| Recurring financial income | 75 | €4,471 | €4,071 | -€400 | -9.0% |
| Financial charges | 65/66B | €344 | €391 | +€47 | +13.6% |
| Recurring financial charges | 65 | €344 | €391 | +€47 | +13.6% |
| Profit (loss) for the period before taxes | 9903 | €74,681 | €21,568 | -€53,113 | -71.1% |
| Income taxes | 67/77 | €15,646 | €4,704 | -€10,941 | -69.9% |
| Profit (loss) for the period | 9904 | €59,036 | €16,864 | -€42,171 | -71.4% |
| Profit (loss) for the period to be appropriated | 9905 | €59,036 | €16,864 | -€42,171 | -71.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.