MAICO: 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.
MAICO
Largest movements
- Cash +€20,630
up €20,630 (+109.1%), from €18,904 to €39,533
mainly Net result for the year (+€34,597) and Investment in fixed assets (net) (+€12,468)
- Receivables within one year +€18,139
up €18,139 (+188.9%), from €9,600 to €27,739
of which Trade receivables: +€9,118
- Financial fixed assets -€15,000
down €15,000 (-75.0%), from €20,000 to €5,000
- Tangible fixed assets +€1,026
up €1,026 (+11.8%), from €8,665 to €9,691
of which Plant, machinery and equipment: +€2,212
- Deferred charges and accrued income +€969
new in 2025: €969
- Profit (loss) carried forward +€34,597
up €34,597 (+135.4%), from €25,544 to €60,141
- Trade debts -€6,164
down €6,164 (-76.8%), from €8,030 to €1,866
- Accrued charges and deferred income -€3,412
no longer reported in 2025 (was €3,412)
- Tax, wage and social debts +€2,129
up €2,129 (+15.4%), from €13,796 to €15,925
- Other debts -€1,386
no longer reported in 2025 (was €1,386)
- Gross operating margin +€11,904
up €11,904 (+33.1%), from €35,952 to €47,856
- Depreciation +€1,339
up €1,339 (+803.7%), from €167 to €1,506
- Financial charges +€852
up €852 (+1403.1%), from €61 to €913
- Taxes +€766
up €766 (+8.3%), from €9,247 to €10,013
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 | €57,169 | €82,932 | +€25,764 | +45.1% |
| Fixed assets | 21/28 | €28,665 | €14,691 | -€13,974 | -48.7% |
| Tangible fixed assets | 22/27 | €8,665 | €9,691 | +€1,026 | +11.8% |
| Plant, machinery and equipment | 23 | - | €2,212 | +€2,212 | |
| Furniture and vehicles | 24 | €1,185 | €752 | -€432 | -36.5% |
| Other tangible fixed assets | 26 | €7,480 | €6,727 | -€754 | -10.1% |
| Financial fixed assets | 28 | €20,000 | €5,000 | -€15,000 | -75.0% |
| Current assets | 29/58 | €28,504 | €68,241 | +€39,738 | +139.4% |
| Amounts receivable within one year | 40/41 | €9,600 | €27,739 | +€18,139 | +188.9% |
| Trade receivables | 40 | €9,600 | €18,718 | +€9,118 | +95.0% |
| Other amounts receivable | 41 | - | €9,021 | +€9,021 | |
| Cash at bank and in hand | 54/58 | €18,904 | €39,533 | +€20,630 | +109.1% |
| Deferred charges and accrued income | 490/1 | - | €969 | +€969 | |
| Total equity and liabilities | 10/49 | €57,169 | €82,932 | +€25,764 | +45.1% |
| Equity | 10/15 | €30,544 | €65,141 | +€34,597 | +113.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,544 | €60,141 | +€34,597 | +135.4% |
| Amounts payable | 17/49 | €26,624 | €17,791 | -€8,833 | -33.2% |
| Amounts payable within one year | 42/48 | €23,212 | €17,791 | -€5,421 | -23.4% |
| Trade debts | 44 | €8,030 | €1,866 | -€6,164 | -76.8% |
| Suppliers | 440/4 | €8,030 | €1,866 | -€6,164 | -76.8% |
| Taxes, remuneration and social security | 45 | €13,796 | €15,925 | +€2,129 | +15.4% |
| Taxes | 450/3 | €13,796 | €15,925 | +€2,129 | +15.4% |
| Other amounts payable | 47/48 | €1,386 | - | -€1,386 | |
| Accrued charges and deferred income | 492/3 | €3,412 | - | -€3,412 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €167 | €1,506 | +€1,339 | +803.7% |
| Other operating charges | 640/8 | €933 | €1,111 | +€178 | +19.1% |
| Gross operating margin | 9900 | €35,952 | €47,856 | +€11,904 | +33.1% |
| Operating profit (loss) | 9901 | €34,852 | €45,239 | +€10,386 | +29.8% |
| Financial income | 75/76B | - | €284 | +€284 | |
| Recurring financial income | 75 | - | €284 | +€284 | |
| Financial charges | 65/66B | €61 | €913 | +€852 | +1403.1% |
| Recurring financial charges | 65 | €61 | €913 | +€852 | +1403.1% |
| Profit (loss) for the period before taxes | 9903 | €34,792 | €44,610 | +€9,818 | +28.2% |
| Income taxes | 67/77 | €9,247 | €10,013 | +€766 | +8.3% |
| Profit (loss) for the period | 9904 | €25,544 | €34,597 | +€9,052 | +35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,544 | €34,597 | +€9,052 | +35.4% |
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 9 October 2026 via checked.be.