MAEA: 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.
MAEA
Largest movements
- Receivables within one year +€20,762
up €20,762 (+60.8%), from €34,159 to €54,921
of which Trade receivables: +€17,332
- Tangible fixed assets -€5,151
down €5,151 (-12.2%), from €42,242 to €37,091
of which Furniture and vehicles: -€3,559
- Cash -€1,770
down €1,770 (-77.2%), from €2,292 to €522
mainly Receivables within one year (-€20,762) and Tax, wage and social debts (-€1,448)
- Deferred charges and accrued income +€1,142
up €1,142 (+41.7%), from €2,736 to €3,877
- Reserves +€15,924
up €15,924 (+35.9%), from €44,298 to €60,222
- Tax, wage and social debts -€1,448
down €1,448 (-7.8%), from €18,531 to €17,083
of which Remuneration and social security: -€6,535
- Gross operating margin +€4,100
up €4,100 (+10.2%), from €40,313 to €44,413
- Taxes +€3,915
up €3,915 (+83.7%), from €4,680 to €8,595
- Staff costs -€3,873
down €3,873 (-23.5%), from €16,505 to €12,632
- Depreciation -€2,257
down €2,257 (-30.5%), from €7,408 to €5,151
- Other operating charges -€1,554
down €1,554 (-28.1%), from €5,538 to €3,984
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 | €81,429 | €96,412 | +€14,983 | +18.4% |
| Fixed assets | 21/28 | €42,242 | €37,091 | -€5,151 | -12.2% |
| Tangible fixed assets | 22/27 | €42,242 | €37,091 | -€5,151 | -12.2% |
| Furniture and vehicles | 24 | €9,322 | €5,763 | -€3,559 | -38.2% |
| Other tangible fixed assets | 26 | €32,920 | €31,328 | -€1,592 | -4.8% |
| Current assets | 29/58 | €39,187 | €59,321 | +€20,134 | +51.4% |
| Amounts receivable within one year | 40/41 | €34,159 | €54,921 | +€20,762 | +60.8% |
| Trade receivables | 40 | €90 | €17,422 | +€17,332 | +19344.2% |
| Other amounts receivable | 41 | €34,070 | €37,499 | +€3,430 | +10.1% |
| Cash at bank and in hand | 54/58 | €2,292 | €522 | -€1,770 | -77.2% |
| Deferred charges and accrued income | 490/1 | €2,736 | €3,877 | +€1,142 | +41.7% |
| Total equity and liabilities | 10/49 | €81,429 | €96,412 | +€14,983 | +18.4% |
| Equity | 10/15 | €62,898 | €78,822 | +€15,924 | +25.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,298 | €60,222 | +€15,924 | +35.9% |
| Distributable reserves | 133 | €44,298 | €60,222 | +€15,924 | +35.9% |
| Amounts payable | 17/49 | €18,531 | €17,590 | -€941 | -5.1% |
| Amounts payable within one year | 42/48 | €18,531 | €17,590 | -€941 | -5.1% |
| Trade debts | 44 | - | €507 | +€507 | |
| Suppliers | 440/4 | - | €507 | +€507 | |
| Taxes, remuneration and social security | 45 | €18,531 | €17,083 | -€1,448 | -7.8% |
| Taxes | 450/3 | €11,983 | €17,070 | +€5,087 | +42.5% |
| Remuneration and social security | 454/9 | €6,549 | €13 | -€6,535 | -99.8% |
| Non-recurring operating income | 76A | - | €63 | +€63 | |
| Remuneration, social security and pensions | 62 | €16,505 | €12,632 | -€3,873 | -23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,408 | €5,151 | -€2,257 | -30.5% |
| Other operating charges | 640/8 | €5,538 | €3,984 | -€1,554 | -28.1% |
| Gross operating margin | 9900 | €40,313 | €44,413 | +€4,100 | +10.2% |
| Operating profit (loss) | 9901 | €10,862 | €22,645 | +€11,784 | +108.5% |
| Financial income | 75/76B | €944 | €1,926 | +€982 | +104.0% |
| Recurring financial income | 75 | €944 | €1,926 | +€982 | +104.0% |
| Financial charges | 65/66B | €45 | €53 | +€8 | +16.8% |
| Recurring financial charges | 65 | €45 | €53 | +€8 | +16.8% |
| Profit (loss) for the period before taxes | 9903 | €11,761 | €24,519 | +€12,758 | +108.5% |
| Income taxes | 67/77 | €4,680 | €8,595 | +€3,915 | +83.7% |
| Profit (loss) for the period | 9904 | €7,081 | €15,924 | +€8,843 | +124.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,081 | €15,924 | +€8,843 | +124.9% |
Source: filed annual accounts (NBB), financial 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.