MAETON: 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.
MAETON
Largest movements
- Cash -€19,931
down €19,931 (-53.9%), from €36,974 to €17,043
mainly Debts after one year (-€19,033) and Tax, wage and social debts (-€8,798)
- Intangible fixed assets -€10,000
down €10,000 (-11.7%), from €85,178 to €75,178
- Stocks and contracts +€5,480
up €5,480 (+9.9%), from €55,166 to €60,646
- Debts after one year -€19,033
down €19,033 (-32.8%), from €57,957 to €38,924
- Tax, wage and social debts -€8,798
down €8,798 (-70.1%), from €12,548 to €3,750
- Profit (loss) carried forward +€4,608
up €4,608 (+11.5%), from €40,012 to €44,620
- Other debts -€3,453
down €3,453 (-9.7%), from €35,448 to €31,995
- Trade debts +€2,481
up €2,481 (+176.7%), from €1,404 to €3,884
- Gross operating margin -€43,167
down €43,167 (-65.9%), from €65,530 to €22,363
- Taxes -€8,405
down €8,405 (-86.1%), from €9,762 to €1,357
- Financial charges -€1,751
down €1,751 (-22.4%), from €7,825 to €6,074
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 | €205,626 | €182,206 | -€23,420 | -11.4% |
| Fixed assets | 21/28 | €108,627 | €100,288 | -€8,338 | -7.7% |
| Intangible fixed assets | 21 | €85,178 | €75,178 | -€10,000 | -11.7% |
| Tangible fixed assets | 22/27 | €23,449 | €25,110 | +€1,662 | +7.1% |
| Land and buildings | 22 | €23,449 | €22,199 | -€1,250 | -5.3% |
| Furniture and vehicles | 24 | - | €2,912 | +€2,912 | |
| Current assets | 29/58 | €96,999 | €81,918 | -€15,081 | -15.5% |
| Stocks and contracts in progress | 3 | €55,166 | €60,646 | +€5,480 | +9.9% |
| Stocks | 30/36 | €55,166 | €60,646 | +€5,480 | +9.9% |
| Amounts receivable within one year | 40/41 | €4,240 | €2,662 | -€1,578 | -37.2% |
| Trade receivables | 40 | €41 | - | -€41 | |
| Other amounts receivable | 41 | €4,199 | €2,662 | -€1,537 | -36.6% |
| Cash at bank and in hand | 54/58 | €36,974 | €17,043 | -€19,931 | -53.9% |
| Deferred charges and accrued income | 490/1 | €619 | €1,567 | +€948 | +153.2% |
| Total equity and liabilities | 10/49 | €205,626 | €182,206 | -€23,420 | -11.4% |
| Equity | 10/15 | €80,012 | €84,620 | +€4,608 | +5.8% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,012 | €44,620 | +€4,608 | +11.5% |
| Amounts payable | 17/49 | €125,614 | €97,586 | -€28,028 | -22.3% |
| Amounts payable after more than one year | 17 | €57,957 | €38,924 | -€19,033 | -32.8% |
| Financial debts | 170/4 | €57,957 | €38,924 | -€19,033 | -32.8% |
| Amounts payable within one year | 42/48 | €67,657 | €58,662 | -€8,995 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | €18,208 | €19,033 | +€825 | +4.5% |
| Trade debts | 44 | €1,404 | €3,884 | +€2,481 | +176.7% |
| Suppliers | 440/4 | €1,404 | €3,884 | +€2,481 | +176.7% |
| Advances received on contracts in progress | 46 | €50 | - | -€50 | |
| Taxes, remuneration and social security | 45 | €12,548 | €3,750 | -€8,798 | -70.1% |
| Taxes | 450/3 | €12,548 | €3,750 | -€8,798 | -70.1% |
| Other amounts payable | 47/48 | €35,448 | €31,995 | -€3,453 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,062 | €11,701 | -€361 | -3.0% |
| Other operating charges | 640/8 | €781 | €801 | +€19 | +2.5% |
| Gross operating margin | 9900 | €65,530 | €22,363 | -€43,167 | -65.9% |
| Operating profit (loss) | 9901 | €52,686 | €9,861 | -€42,825 | -81.3% |
| Financial income | 75/76B | €2,235 | €2,179 | -€56 | -2.5% |
| Recurring financial income | 75 | €2,235 | €2,179 | -€56 | -2.5% |
| Financial charges | 65/66B | €7,825 | €6,074 | -€1,751 | -22.4% |
| Recurring financial charges | 65 | €7,825 | €6,074 | -€1,751 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €47,096 | €5,966 | -€41,131 | -87.3% |
| Income taxes | 67/77 | €9,762 | €1,357 | -€8,405 | -86.1% |
| Profit (loss) for the period | 9904 | €37,334 | €4,608 | -€32,725 | -87.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,334 | €4,608 | -€32,725 | -87.7% |
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 12 October 2026 via checked.be.