MaEvMa: 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.
MaEvMa
Largest movements
- Cash +€73,715
up €73,715 (+109.8%), from €67,157 to €140,872
mainly Net result for the year (+€368,619) and Tax, wage and social debts (+€11,199)
- Financial fixed assets +€43,757
up €43,757 (+168.1%), from €26,035 to €69,793
- Current investments +€15,584
up €15,584 (+2.6%), from €606,588 to €622,172
- Receivables within one year +€14,743
up €14,743 (+42.3%), from €34,841 to €49,584
of which Other amounts receivable: +€11,946
- Reserves +€132,936
up €132,936 (+20.1%), from €661,124 to €794,060
- Tax, wage and social debts +€11,199
up €11,199 (+11.8%), from €94,530 to €105,729
of which Taxes: +€11,199
- Gross operating margin +€122,745
up €122,745 (+42.9%), from €286,279 to €409,024
- Financial income +€42,957
up €42,957 (+115.0%), from €37,362 to €80,319
- Taxes +€40,221
up €40,221 (+52.6%), from €76,497 to €116,718
- Financial charges -€7,003
down €7,003 (-97.8%), from €7,161 to €157
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 | €756,393 | €900,836 | +€144,443 | +19.1% |
| Fixed assets | 21/28 | €41,619 | €82,055 | +€40,436 | +97.2% |
| Tangible fixed assets | 22/27 | €15,584 | €12,262 | -€3,321 | -21.3% |
| Plant, machinery and equipment | 23 | €4,037 | €3,526 | -€511 | -12.7% |
| Furniture and vehicles | 24 | €7,620 | €5,716 | -€1,905 | -25.0% |
| Other tangible fixed assets | 26 | €3,926 | €3,021 | -€906 | -23.1% |
| Financial fixed assets | 28 | €26,035 | €69,793 | +€43,757 | +168.1% |
| Current assets | 29/58 | €714,774 | €818,781 | +€104,007 | +14.6% |
| Amounts receivable within one year | 40/41 | €34,841 | €49,584 | +€14,743 | +42.3% |
| Trade receivables | 40 | €34,483 | €37,279 | +€2,797 | +8.1% |
| Other amounts receivable | 41 | €358 | €12,305 | +€11,946 | +3334.9% |
| Current investments | 50/53 | €606,588 | €622,172 | +€15,584 | +2.6% |
| Cash at bank and in hand | 54/58 | €67,157 | €140,872 | +€73,715 | +109.8% |
| Deferred charges and accrued income | 490/1 | €6,188 | €6,153 | -€35 | -0.6% |
| Total equity and liabilities | 10/49 | €756,393 | €900,836 | +€144,443 | +19.1% |
| Equity | 10/15 | €661,224 | €794,160 | +€132,936 | +20.1% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €661,124 | €794,060 | +€132,936 | +20.1% |
| Distributable reserves | 133 | €661,124 | €794,060 | +€132,936 | +20.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €95,169 | €106,676 | +€11,507 | +12.1% |
| Amounts payable within one year | 42/48 | €95,169 | €106,676 | +€11,507 | +12.1% |
| Trade debts | 44 | €639 | €948 | +€308 | +48.2% |
| Suppliers | 440/4 | €639 | €948 | +€308 | +48.2% |
| Taxes, remuneration and social security | 45 | €94,530 | €105,729 | +€11,199 | +11.8% |
| Taxes | 450/3 | €94,530 | €105,729 | +€11,199 | +11.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,888 | €3,321 | +€433 | +15.0% |
| Other operating charges | 640/8 | €190 | €528 | +€338 | +178.0% |
| Gross operating margin | 9900 | €286,279 | €409,024 | +€122,745 | +42.9% |
| Operating profit (loss) | 9901 | €283,202 | €405,175 | +€121,974 | +43.1% |
| Financial income | 75/76B | €37,362 | €80,319 | +€42,957 | +115.0% |
| Recurring financial income | 75 | €37,362 | €80,319 | +€42,957 | +115.0% |
| Financial charges | 65/66B | €7,161 | €157 | -€7,003 | -97.8% |
| Recurring financial charges | 65 | €7,161 | €157 | -€7,003 | -97.8% |
| Profit (loss) for the period before taxes | 9903 | €313,403 | €485,337 | +€171,934 | +54.9% |
| Income taxes | 67/77 | €76,497 | €116,718 | +€40,221 | +52.6% |
| Profit (loss) for the period | 9904 | €236,906 | €368,619 | +€131,713 | +55.6% |
| Profit (loss) for the period to be appropriated | 9905 | €236,906 | €368,619 | +€131,713 | +55.6% |
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 7 October 2026 via checked.be.