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
- Tangible fixed assets -€4,486
down €4,486 (-1.4%), from €323,942 to €319,456
- Debts after one year -€9,099
down €9,099 (-3.4%), from €267,842 to €258,743
- Short-term financial debts +€4,045
new in 2025: €4,045
- Profit (loss) carried forward -€3,461
down €3,461 (-32.3%), from -€10,708 to -€14,169
- Gross operating margin +€13,073
up €13,073 (+145%), from €8,989 to €22,062
- Financial charges +€8,865
up €8,865 (+154%), from €5,752 to €14,617
- Turnover +€7,890
up €7,890 (+71.1%), from €11,100 to €18,990
- Depreciation -€5,032
down €5,032 (-37.1%), from €13,558 to €8,526
- Other operating charges +€1,993
up €1,993 (+515%), from €387 to €2,380
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 | €324,172 | €319,456 | -€4,716 | -1.5% |
| Fixed assets | 21/28 | €323,942 | €319,456 | -€4,486 | -1.4% |
| Tangible fixed assets | 22/27 | €323,942 | €319,456 | -€4,486 | -1.4% |
| Land and buildings | 22 | €323,942 | €319,456 | -€4,486 | -1.4% |
| Current assets | 29/58 | €230 | - | -€230 | |
| Cash at bank and in hand | 54/58 | €230 | - | -€230 | |
| Total equity and liabilities | 10/49 | €324,172 | €319,456 | -€4,716 | -1.5% |
| Equity | 10/15 | -€5,708 | -€9,169 | -€3,461 | -60.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,708 | -€14,169 | -€3,461 | -32.3% |
| Amounts payable | 17/49 | €329,880 | €328,625 | -€1,255 | -0.4% |
| Amounts payable after more than one year | 17 | €267,842 | €258,743 | -€9,099 | -3.4% |
| Financial debts | 170/4 | €267,842 | €258,743 | -€9,099 | -3.4% |
| Amounts payable within one year | 42/48 | €62,038 | €69,882 | +€7,844 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €9,372 | €9,838 | +€466 | +5.0% |
| Financial debts | 43 | - | €4,045 | +€4,045 | |
| Other loans | 439 | - | €4,045 | +€4,045 | |
| Trade debts | 44 | - | €3,038 | +€3,038 | |
| Suppliers | 440/4 | - | €3,038 | +€3,038 | |
| Other amounts payable | 47/48 | €52,666 | €52,961 | +€295 | +0.6% |
| Turnover | 70 | €11,100 | €18,990 | +€7,890 | +71.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,110 | €1,794 | -€316 | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,558 | €8,526 | -€5,032 | -37.1% |
| Other operating charges | 640/8 | €387 | €2,380 | +€1,993 | +515% |
| Gross operating margin | 9900 | €8,989 | €22,062 | +€13,073 | +145% |
| Operating profit (loss) | 9901 | -€4,956 | €11,156 | +€16,112 | |
| Financial charges | 65/66B | €5,752 | €14,617 | +€8,865 | +154% |
| Recurring financial charges | 65 | €5,752 | €14,617 | +€8,865 | +154% |
| Profit (loss) for the period before taxes | 9903 | -€10,708 | -€3,461 | +€7,247 | +67.7% |
| Profit (loss) for the period | 9904 | -€10,708 | -€3,461 | +€7,247 | +67.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,708 | -€3,461 | +€7,247 | +67.7% |
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 14 October 2026 via checked.be.