MAENE ANGELO: 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.
MAENE ANGELO
Largest movements
- Cash +€39,431
up €39,431 (+62.6%), from €63,019 to €102,450
mainly Trade debts (+€49,490) and Net result for the year (+€41,665)
- Stocks and contracts +€10,204
up €10,204 (+51.5%), from €19,802 to €30,007
- Receivables within one year +€10,048
up €10,048 (+31.5%), from €31,890 to €41,938
of which Other amounts receivable: +€8,031
- Tangible fixed assets +€7,265
up €7,265 (+47.8%), from €15,195 to €22,460
- Trade debts +€49,490
up €49,490 (+143%), from €34,714 to €84,204
- Reserves +€41,665
up €41,665 (+133%), from €31,223 to €72,889
- Debts after one year -€23,240
down €23,240 (-67.5%), from €34,423 to €11,183
- Other debts -€16,000
down €16,000 (-100%), from €16,000 to €0
- Tax, wage and social debts +€14,015
up €14,015 (+134%), from €10,477 to €24,492
- Taxes +€3,537
up €3,537 (+33.8%), from €10,477 to €14,015
- Gross operating margin -€1,092
down €1,092 (-1.7%), from €63,455 to €62,363
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 | €131,923 | €197,767 | +€65,845 | +49.9% |
| Fixed assets | 21/28 | €15,195 | €22,460 | +€7,265 | +47.8% |
| Tangible fixed assets | 22/27 | €15,195 | €22,460 | +€7,265 | +47.8% |
| Plant, machinery and equipment | 23 | €15,195 | €22,460 | +€7,265 | +47.8% |
| Current assets | 29/58 | €116,728 | €175,307 | +€58,580 | +50.2% |
| Stocks and contracts in progress | 3 | €19,802 | €30,007 | +€10,204 | +51.5% |
| Stocks | 30/36 | €19,802 | €30,007 | +€10,204 | +51.5% |
| Amounts receivable within one year | 40/41 | €31,890 | €41,938 | +€10,048 | +31.5% |
| Trade receivables | 40 | €24,024 | €26,042 | +€2,017 | +8.4% |
| Other amounts receivable | 41 | €7,865 | €15,896 | +€8,031 | +102% |
| Cash at bank and in hand | 54/58 | €63,019 | €102,450 | +€39,431 | +62.6% |
| Deferred charges and accrued income | 490/1 | €2,017 | €913 | -€1,104 | -54.8% |
| Total equity and liabilities | 10/49 | €131,923 | €197,767 | +€65,845 | +49.9% |
| Equity | 10/15 | €36,223 | €77,889 | +€41,665 | +115% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €31,223 | €72,889 | +€41,665 | +133% |
| Distributable reserves | 133 | €31,223 | €72,889 | +€41,665 | +133% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €95,699 | €119,879 | +€24,179 | +25.3% |
| Amounts payable after more than one year | 17 | €34,423 | €11,183 | -€23,240 | -67.5% |
| Other amounts payable | 178/9 | €34,423 | €11,183 | -€23,240 | -67.5% |
| Amounts payable within one year | 42/48 | €61,191 | €108,696 | +€47,504 | +77.6% |
| Trade debts | 44 | €34,714 | €84,204 | +€49,490 | +143% |
| Suppliers | 440/4 | €34,714 | €84,204 | +€49,490 | +143% |
| Taxes, remuneration and social security | 45 | €10,477 | €24,492 | +€14,015 | +134% |
| Taxes | 450/3 | €10,477 | €24,492 | +€14,015 | +134% |
| Other amounts payable | 47/48 | €16,000 | €0 | -€16,000 | -100% |
| Accrued charges and deferred income | 492/3 | €85 | €0 | -€85 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,448 | €5,576 | +€128 | +2.3% |
| Other operating charges | 640/8 | €293 | €926 | +€633 | +216% |
| Gross operating margin | 9900 | €63,455 | €62,363 | -€1,092 | -1.7% |
| Operating profit (loss) | 9901 | €57,714 | €55,862 | -€1,852 | -3.2% |
| Financial income | 75/76B | €150 | €35 | -€114 | -76.3% |
| Recurring financial income | 75 | €150 | €35 | -€114 | -76.3% |
| Financial charges | 65/66B | €163 | €217 | +€54 | +33.2% |
| Recurring financial charges | 65 | €163 | €217 | +€54 | +33.2% |
| Profit (loss) for the period before taxes | 9903 | €57,701 | €55,680 | -€2,021 | -3.5% |
| Income taxes | 67/77 | €10,477 | €14,015 | +€3,537 | +33.8% |
| Profit (loss) for the period | 9904 | €47,223 | €41,665 | -€5,558 | -11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €47,223 | €41,665 | -€5,558 | -11.8% |
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 17 October 2026 via checked.be.