MAEDU CONSTRUCT: 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.
MAEDU CONSTRUCT
Largest movements
- Cash -€1,650
down €1,650 (-54.9%), from €3,004 to €1,354
mainly Net result for the year (-€18,149) and Trade debts (-€549)
- Deferred charges and accrued income -€450
no longer reported in 2025 (was €450)
- Receivables within one year -€387
down €387 (-16.2%), from €2,387 to €2,000
- Profit (loss) carried forward -€18,149
down €18,149, from €576 to -€17,573
- Tax, wage and social debts +€12,661
up €12,661 (+3,226%), from €393 to €13,053
of which Remuneration and social security: +€11,598
- Other debts +€3,422
up €3,422 (+165%), from €2,070 to €5,492
- Trade debts -€549
down €549 (-68.5%), from €802 to €253
- Accrued charges and deferred income +€129
new in 2025: €129
- Staff costs +€55,975
up €55,975 (+1,816%), from €3,082 to €59,058
- Gross operating margin +€38,024
up €38,024 (+999%), from €3,805 to €41,828
- Other operating charges +€843
new in 2025: €843
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 | €5,841 | €3,354 | -€2,487 | -42.6% |
| Current assets | 29/58 | €5,841 | €3,354 | -€2,487 | -42.6% |
| Amounts receivable within one year | 40/41 | €2,387 | €2,000 | -€387 | -16.2% |
| Other amounts receivable | 41 | €2,387 | €2,000 | -€387 | -16.2% |
| Cash at bank and in hand | 54/58 | €3,004 | €1,354 | -€1,650 | -54.9% |
| Deferred charges and accrued income | 490/1 | €450 | - | -€450 | |
| Total equity and liabilities | 10/49 | €5,841 | €3,354 | -€2,487 | -42.6% |
| Equity | 10/15 | €2,576 | -€15,573 | -€18,149 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €576 | -€17,573 | -€18,149 | |
| Amounts payable | 17/49 | €3,264 | €18,927 | +€15,662 | +480% |
| Amounts payable within one year | 42/48 | €3,264 | €18,798 | +€15,533 | +476% |
| Trade debts | 44 | €802 | €253 | -€549 | -68.5% |
| Suppliers | 440/4 | €802 | €253 | -€549 | -68.5% |
| Taxes, remuneration and social security | 45 | €393 | €13,053 | +€12,661 | +3,226% |
| Taxes | 450/3 | €203 | €1,266 | +€1,063 | +523% |
| Remuneration and social security | 454/9 | €189 | €11,787 | +€11,598 | +6,121% |
| Other amounts payable | 47/48 | €2,070 | €5,492 | +€3,422 | +165% |
| Accrued charges and deferred income | 492/3 | - | €129 | +€129 | |
| Remuneration, social security and pensions | 62 | €3,082 | €59,058 | +€55,975 | +1,816% |
| Other operating charges | 640/8 | - | €843 | +€843 | |
| Gross operating margin | 9900 | €3,805 | €41,828 | +€38,024 | +999% |
| Operating profit (loss) | 9901 | €722 | -€18,072 | -€18,794 | |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €2 | €81 | +€79 | +4,355% |
| Recurring financial charges | 65 | €2 | €81 | +€79 | +4,355% |
| Profit (loss) for the period before taxes | 9903 | €720 | -€18,149 | -€18,870 | |
| Income taxes | 67/77 | €144 | - | -€144 | |
| Profit (loss) for the period | 9904 | €576 | -€18,149 | -€18,725 | |
| Profit (loss) for the period to be appropriated | 9905 | €576 | -€18,149 | -€18,725 |
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.