MaÏak: 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.
MaÏak
Largest movements
- Current investments -€60,000
down €60,000 (-85.7%), from €70,000 to €10,000
- Cash +€37,694
up €37,694 (+173.1%), from €21,779 to €59,474
mainly Current investments (+€60,000) and Net result for the year (+€13,511)
- Receivables within one year -€5,598
down €5,598 (-43.5%), from €12,862 to €7,264
of which Other amounts receivable: -€3,765
- Other debts -€31,792
no longer reported in 2025 (was €31,792)
- Reserves +€13,511
up €13,511 (+36.0%), from €37,542 to €51,053
- Trade debts -€7,525
down €7,525 (-50.5%), from €14,899 to €7,374
- Tax, wage and social debts -€3,705
down €3,705 (-78.7%), from €4,709 to €1,004
- Taxes +€2,424
up €2,424 (+55.6%), from €4,362 to €6,786
- Financial income +€2,344
new in 2025: €2,344
- Gross operating margin +€1,654
up €1,654 (+8.8%), from €18,685 to €20,339
- Financial charges -€406
down €406 (-77.8%), from €522 to €116
- Other operating charges -€232
down €232 (-23.5%), from €991 to €759
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 | €156,096 | €126,586 | -€29,511 | -18.9% |
| Fixed assets | 21/28 | €50,552 | €49,041 | -€1,511 | -3.0% |
| Tangible fixed assets | 22/27 | €50,502 | €48,991 | -€1,511 | -3.0% |
| Land and buildings | 22 | €49,654 | €48,563 | -€1,091 | -2.2% |
| Furniture and vehicles | 24 | €848 | €428 | -€420 | -49.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €105,545 | €77,545 | -€28,000 | -26.5% |
| Amounts receivable within one year | 40/41 | €12,862 | €7,264 | -€5,598 | -43.5% |
| Trade receivables | 40 | €8,862 | €7,029 | -€1,833 | -20.7% |
| Other amounts receivable | 41 | €4,000 | €235 | -€3,765 | -94.1% |
| Current investments | 50/53 | €70,000 | €10,000 | -€60,000 | -85.7% |
| Cash at bank and in hand | 54/58 | €21,779 | €59,474 | +€37,694 | +173.1% |
| Deferred charges and accrued income | 490/1 | €904 | €807 | -€97 | -10.7% |
| Total equity and liabilities | 10/49 | €156,096 | €126,586 | -€29,511 | -18.9% |
| Equity | 10/15 | €104,696 | €118,208 | +€13,511 | +12.9% |
| Contributions | 10/11 | €62,370 | €62,370 | = | 0.0% |
| Reserves | 13 | €37,542 | €51,053 | +€13,511 | +36.0% |
| Distributable reserves | 133 | €37,542 | €51,053 | +€13,511 | +36.0% |
| Profit (loss) carried forward | 14 | €4,784 | €4,784 | = | 0.0% |
| Amounts payable | 17/49 | €51,400 | €8,378 | -€43,022 | -83.7% |
| Amounts payable within one year | 42/48 | €51,400 | €8,378 | -€43,022 | -83.7% |
| Trade debts | 44 | €14,899 | €7,374 | -€7,525 | -50.5% |
| Suppliers | 440/4 | €14,899 | €7,374 | -€7,525 | -50.5% |
| Taxes, remuneration and social security | 45 | €4,709 | €1,004 | -€3,705 | -78.7% |
| Taxes | 450/3 | €4,709 | €1,004 | -€3,705 | -78.7% |
| Other amounts payable | 47/48 | €31,792 | - | -€31,792 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,503 | €1,511 | +€7 | +0.5% |
| Other operating charges | 640/8 | €991 | €759 | -€232 | -23.5% |
| Gross operating margin | 9900 | €18,685 | €20,339 | +€1,654 | +8.8% |
| Operating profit (loss) | 9901 | €16,191 | €18,070 | +€1,879 | +11.6% |
| Financial income | 75/76B | - | €2,344 | +€2,344 | |
| Recurring financial income | 75 | - | €2,344 | +€2,344 | |
| Financial charges | 65/66B | €522 | €116 | -€406 | -77.8% |
| Recurring financial charges | 65 | €522 | €116 | -€406 | -77.8% |
| Profit (loss) for the period before taxes | 9903 | €15,669 | €20,297 | +€4,628 | +29.5% |
| Income taxes | 67/77 | €4,362 | €6,786 | +€2,424 | +55.6% |
| Profit (loss) for the period | 9904 | €11,307 | €13,511 | +€2,204 | +19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,307 | €13,511 | +€2,204 | +19.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.