MAI MANAGEMENT: 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.
MAI MANAGEMENT
Largest movements
- Tangible fixed assets -€22,999
down €22,999 (-3.0%), from €765,389 to €742,390
of which Land and buildings: -€22,546
- Reserves +€56,753
up €56,753 (+129%), from €44,075 to €100,828
- Provisions -€53,104
down €53,104 (-10.0%), from €531,025 to €477,921
- Other debts -€47,471
down €47,471 (-31.1%), from €152,482 to €105,011
- Accrued charges and deferred income +€14,913
new in 2025: €14,913
- Tax, wage and social debts +€8,750
up €8,750 (+72.9%), from €12,000 to €20,750
- Gross operating margin +€33,135
up €33,135 (+36.0%), from €92,097 to €125,232
- Taxes +€8,787
up €8,787 (+73.3%), from €11,991 to €20,778
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 | €770,048 | €751,600 | -€18,448 | -2.4% |
| Fixed assets | 21/28 | €765,389 | €742,390 | -€22,999 | -3.0% |
| Tangible fixed assets | 22/27 | €765,389 | €742,390 | -€22,999 | -3.0% |
| Land and buildings | 22 | €764,936 | €742,390 | -€22,546 | -2.9% |
| Furniture and vehicles | 24 | €453 | - | -€453 | |
| Current assets | 29/58 | €4,659 | €9,210 | +€4,551 | +97.7% |
| Amounts receivable within one year | 40/41 | €4,532 | €4,532 | = | 0.0% |
| Other amounts receivable | 41 | €4,532 | €4,532 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €127 | €4,678 | +€4,551 | +3,576% |
| Total equity and liabilities | 10/49 | €770,048 | €751,600 | -€18,448 | -2.4% |
| Equity | 10/15 | €69,075 | €125,828 | +€56,753 | +82.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €44,075 | €100,828 | +€56,753 | +129% |
| Distributable reserves | 133 | €44,075 | €100,828 | +€56,753 | +129% |
| Provisions and deferred taxes | 16 | €531,025 | €477,921 | -€53,104 | -10.0% |
| Provisions for liabilities and charges | 160/5 | €531,025 | €477,921 | -€53,104 | -10.0% |
| Other liabilities and charges | 164/5 | €531,025 | €477,921 | -€53,104 | -10.0% |
| Amounts payable | 17/49 | €169,949 | €147,851 | -€22,098 | -13.0% |
| Amounts payable within one year | 42/48 | €169,949 | €132,938 | -€37,011 | -21.8% |
| Trade debts | 44 | €5,467 | €7,177 | +€1,710 | +31.3% |
| Suppliers | 440/4 | €5,467 | €7,177 | +€1,710 | +31.3% |
| Taxes, remuneration and social security | 45 | €12,000 | €20,750 | +€8,750 | +72.9% |
| Taxes | 450/3 | €12,000 | €20,750 | +€8,750 | +72.9% |
| Other amounts payable | 47/48 | €152,482 | €105,011 | -€47,471 | -31.1% |
| Accrued charges and deferred income | 492/3 | - | €14,913 | +€14,913 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,292 | €22,999 | -€293 | -1.3% |
| Other operating charges | 640/8 | €23,565 | €23,386 | -€179 | -0.8% |
| Gross operating margin | 9900 | €92,097 | €125,232 | +€33,135 | +36.0% |
| Operating profit (loss) | 9901 | €45,240 | €78,847 | +€33,607 | +74.3% |
| Financial charges | 65/66B | €1,370 | €1,316 | -€55 | -4.0% |
| Recurring financial charges | 65 | €1,370 | €1,316 | -€55 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €43,869 | €77,531 | +€33,662 | +76.7% |
| Income taxes | 67/77 | €11,991 | €20,778 | +€8,787 | +73.3% |
| Profit (loss) for the period | 9904 | €31,879 | €56,753 | +€24,875 | +78.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,879 | €56,753 | +€24,875 | +78.0% |
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 20 October 2026 via checked.be.