MAAT SECURITY: 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.
What changed
MAAT SECURITY
NACE 80.010, Investigation and private security services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€137,401
2024 · €250,029-€112,628
Equity
€416,012
2024 · €278,611+€137,401
Cash
€841,899
2024 · €19,500+€822,399
Balance sheet total
€7.3m
2024 · €4.2m+€3.1m
Largest movements
Assets
- Receivables within one year +€1.9m
up €1.9m (+49.7%), from €3.9m to €5.8m
of which Trade receivables: +€1.9m
- Cash +€822,399
up €822,399 (+4,217%), from €19,500 to €841,899
mainly Tax, wage and social debts (+€2.3m) and Trade debts (+€505,339)
- Deferred charges and accrued income +€269,466
up €269,466 (+203%), from €133,067 to €402,534
Equity and liabilities
- Tax, wage and social debts +€2.3m
up €2.3m (+89.1%), from €2.5m to €4.8m
of which Remuneration and social security: +€1.2m
- Trade debts +€505,339
up €505,339 (+93.4%), from €540,866 to €1.0m
- Current portion of long-term debt -€256,000
down €256,000 (-100%), from €256,000 to €0
- Short-term financial debts +€256,000
up €256,000, from €0 to €256,000
of which Other loans: +€256,000
- Other debts +€160,578
up €160,578 (+86.3%), from €186,053 to €346,631
Income statement
- Turnover +€7.4m
up €7.4m (+42.5%), from €17.3m to €24.7m
- Staff costs +€7.0m
up €7.0m (+45.0%), from €15.4m to €22.4m
- Services and other goods +€896,727
up €896,727 (+43.7%), from €2.1m to €2.9m
- Other operating income +€558,931
up €558,931 (+64.1%), from €871,321 to €1.4m
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.
Result 2024
€250,029
Turnover
+€7.4m
Other operating income
+€558,931
Goods and materials
-€27,441
Services and other goods
-€896,727
Staff costs
-€7.0m
Depreciation
+€54,229
Other operating charges
-€108,052
Other operating items
-€36,870
Financial income
-€621
Financial charges
-€9,201
Taxes
-€64,411
Result 2025
€137,401
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€999,493
Investment
-€177,093
Financing
€0
Cash 2024
€19,500
From operations (derived)
+€999,493
Net result for the year
+€137,401
Depreciation
+€67,253
Receivables within one year
-€1.9m
Deferred charges and accrued income
-€269,466
Provisions
+€37,373
Trade debts
+€505,339
Tax, wage and social debts
+€2.3m
Other debts
+€160,578
Accrued charges and deferred income
+€23,338
Investment (derived)
-€177,093
Investment in fixed assets (net)
-€177,093
Financing
€0
Current portion of long-term debt
-€256,000
Short-term financial debts
+€256,000
Cash 2025
€841,899
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,210,504 | €7,329,586 | +€3.1m | +74.1% |
| Fixed assets | 21/28 | €203,036 | €312,876 | +€109,840 | +54.1% |
| Intangible fixed assets | 21 | €49,060 | €97,376 | +€48,316 | +98.5% |
| Tangible fixed assets | 22/27 | €153,976 | €203,753 | +€49,777 | +32.3% |
| Plant, machinery and equipment | 23 | €153,009 | €201,219 | +€48,209 | +31.5% |
| Furniture and vehicles | 24 | €967 | €2,534 | +€1,567 | +162% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | - | €11,747 | +€11,747 | |
| Other financial fixed assets | 284/8 | - | €11,747 | +€11,747 | |
| Amounts receivable and cash guarantees | 285/8 | - | €11,747 | +€11,747 | |
| Current assets | 29/58 | €4,007,468 | €7,016,709 | +€3.0m | +75.1% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €3,854,901 | €5,772,277 | +€1.9m | +49.7% |
| Trade receivables | 40 | €2,954,173 | €4,871,485 | +€1.9m | +64.9% |
| Other amounts receivable | 41 | €900,728 | €900,791 | +€64 | 0.0% |
| Cash at bank and in hand | 54/58 | €19,500 | €841,899 | +€822,399 | +4,217% |
| Deferred charges and accrued income | 490/1 | €133,067 | €402,534 | +€269,466 | +203% |
| Total equity and liabilities | 10/49 | €4,210,504 | €7,329,586 | +€3.1m | +74.1% |
| Equity | 10/15 | €278,611 | €416,012 | +€137,401 | +49.3% |
| Contributions | 10/11 | €1,600,000 | €1,600,000 | = | 0.0% |
| Capital | 10 | €1,600,000 | €1,600,000 | = | 0.0% |
| Issued capital | 100 | €1,600,000 | €1,600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,321,389 | -€1,183,988 | +€137,401 | +10.4% |
| Provisions and deferred taxes | 16 | - | €37,373 | +€37,373 | |
| Provisions for liabilities and charges | 160/5 | - | €37,373 | +€37,373 | |
| Other liabilities and charges | 164/5 | - | €37,373 | +€37,373 | |
| Amounts payable | 17/49 | €3,931,894 | €6,876,201 | +€2.9m | +74.9% |
| Amounts payable within one year | 42/48 | €3,512,995 | €6,433,964 | +€2.9m | +83.1% |
| Current portion of amounts payable after more than one year | 42 | €256,000 | €0 | -€256,000 | -100% |
| Financial debts | 43 | €0 | €256,000 | +€256,000 | |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | - | €256,000 | +€256,000 | |
| Trade debts | 44 | €540,866 | €1,046,205 | +€505,339 | +93.4% |
| Suppliers | 440/4 | €540,866 | €1,046,205 | +€505,339 | +93.4% |
| Taxes, remuneration and social security | 45 | €2,530,076 | €4,785,129 | +€2.3m | +89.1% |
| Taxes | 450/3 | €550,482 | €1,619,729 | +€1.1m | +194% |
| Remuneration and social security | 454/9 | €1,979,594 | €3,165,399 | +€1.2m | +59.9% |
| Other amounts payable | 47/48 | €186,053 | €346,631 | +€160,578 | +86.3% |
| Accrued charges and deferred income | 492/3 | €418,899 | €442,237 | +€23,338 | +5.6% |
| Operating income | 70/76A | €18,189,785 | €26,117,667 | +€7.9m | +43.6% |
| Turnover | 70 | €17,318,464 | €24,687,415 | +€7.4m | +42.5% |
| Other operating income | 74 | €871,321 | €1,430,253 | +€558,931 | +64.1% |
| Operating charges | 60/66A | €17,870,130 | €25,836,407 | +€8.0m | +44.6% |
| Goods for resale, raw materials and consumables | 60 | €219,190 | €246,631 | +€27,441 | +12.5% |
| Purchases | 600/8 | €219,190 | €246,631 | +€27,441 | +12.5% |
| Services and other goods | 61 | €2,050,191 | €2,946,918 | +€896,727 | +43.7% |
| Remuneration, social security and pensions | 62 | €15,436,889 | €22,388,306 | +€7.0m | +45.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,483 | €67,253 | -€54,229 | -44.6% |
| Other operating charges | 640/8 | €41,874 | €149,926 | +€108,052 | +258% |
| Non-recurring operating charges | 66A | €503 | €37,373 | +€36,870 | +7,329% |
| Operating profit (loss) | 9901 | €319,655 | €281,261 | -€38,395 | -12.0% |
| Financial income | 75/76B | €778 | €156 | -€621 | -79.9% |
| Recurring financial income | 75 | €778 | €156 | -€621 | -79.9% |
| Income from current assets | 751 | - | €67 | +€67 | |
| Other financial income | 752/9 | €778 | €90 | -€688 | -88.5% |
| Financial charges | 65/66B | €68,671 | €77,872 | +€9,201 | +13.4% |
| Recurring financial charges | 65 | €68,671 | €77,872 | +€9,201 | +13.4% |
| Debt charges | 650 | €49,448 | €18,066 | -€31,382 | -63.5% |
| Other financial charges | 652/9 | €19,223 | €59,806 | +€40,583 | +211% |
| Profit (loss) for the period before taxes | 9903 | €251,762 | €203,545 | -€48,217 | -19.2% |
| Income taxes | 67/77 | €1,733 | €66,144 | +€64,411 | +3,716% |
| Taxes | 670/3 | €1,733 | €66,144 | +€64,411 | +3,716% |
| Profit (loss) for the period | 9904 | €250,029 | €137,401 | -€112,628 | -45.0% |
| Profit (loss) for the period to be appropriated | 9905 | €250,029 | €137,401 | -€112,628 | -45.0% |
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 15 October 2026 via checked.be.