MAEAZ: what changed
Two fiscal 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.
MAEAZ
Largest movements
- Cash -€78,082
down €78,082 (-58.5%), from €133,534 to €55,452
mainly Tax, wage and social debts (-€47,769) and Receivables within one year (-€18,610)
- Receivables within one year +€18,610
up €18,610 (+86.5%), from €21,510 to €40,120
of which Other amounts receivable: +€17,494
- Tangible fixed assets -€1,955
down €1,955 (-34.4%), from €5,681 to €3,726
of which Furniture and vehicles: -€1,544
- Tax, wage and social debts -€47,769
down €47,769 (-99.9%), from €47,794 to €25
- Reserves -€8,000
down €8,000 (-7.4%), from €108,000 to €100,000
- Profit (loss) carried forward -€5,544
down €5,544, from €774 to -€4,771
- Gross operating margin +€1,184
up €1,184 (+9.0%), from -€13,122 to -€11,939
- Financial income +€851
up €851 (+115.2%), from €739 to €1,589
- Depreciation -€255
down €255 (-7.9%), from €3,248 to €2,993
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 | €160,725 | €99,299 | -€61,427 | -38.2% |
| Fixed assets | 21/28 | €5,681 | €3,726 | -€1,955 | -34.4% |
| Tangible fixed assets | 22/27 | €5,681 | €3,726 | -€1,955 | -34.4% |
| Land and buildings | 22 | €2,762 | €2,352 | -€411 | -14.9% |
| Furniture and vehicles | 24 | €2,919 | €1,375 | -€1,544 | -52.9% |
| Current assets | 29/58 | €155,044 | €95,572 | -€59,472 | -38.4% |
| Amounts receivable within one year | 40/41 | €21,510 | €40,120 | +€18,610 | +86.5% |
| Trade receivables | 40 | - | €1,116 | +€1,116 | |
| Other amounts receivable | 41 | €21,510 | €39,004 | +€17,494 | +81.3% |
| Cash at bank and in hand | 54/58 | €133,534 | €55,452 | -€78,082 | -58.5% |
| Total equity and liabilities | 10/49 | €160,725 | €99,299 | -€61,427 | -38.2% |
| Equity | 10/15 | €111,774 | €98,229 | -€13,544 | -12.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €108,000 | €100,000 | -€8,000 | -7.4% |
| Distributable reserves | 133 | €108,000 | €100,000 | -€8,000 | -7.4% |
| Profit (loss) carried forward | 14 | €774 | -€4,771 | -€5,544 | |
| Amounts payable | 17/49 | €48,952 | €1,069 | -€47,882 | -97.8% |
| Amounts payable within one year | 42/48 | €48,952 | €1,069 | -€47,882 | -97.8% |
| Trade debts | 44 | €1,157 | €1,044 | -€113 | -9.8% |
| Suppliers | 440/4 | €1,157 | €1,044 | -€113 | -9.8% |
| Taxes, remuneration and social security | 45 | €47,794 | €25 | -€47,769 | -99.9% |
| Taxes | 450/3 | €47,794 | €25 | -€47,769 | -99.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,248 | €2,993 | -€255 | -7.9% |
| Other operating charges | 640/8 | €99 | €87 | -€13 | -12.6% |
| Gross operating margin | 9900 | -€13,122 | -€11,939 | +€1,184 | +9.0% |
| Operating profit (loss) | 9901 | -€16,470 | -€15,018 | +€1,452 | +8.8% |
| Financial income | 75/76B | €739 | €1,589 | +€851 | +115.2% |
| Recurring financial income | 75 | €739 | €1,589 | +€851 | +115.2% |
| Financial charges | 65/66B | €105 | €115 | +€10 | +10.0% |
| Recurring financial charges | 65 | €105 | €115 | +€10 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | -€15,836 | -€13,544 | +€2,292 | +14.5% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€15,836 | -€13,544 | +€2,292 | +14.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,836 | -€13,544 | +€2,292 | +14.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.