MAIDA: 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.
MAIDA
Largest movements
- Receivables within one year +€42,232
up €42,232 (+42.8%), from €98,577 to €140,810
of which Other amounts receivable: +€40,533
- Tangible fixed assets -€21,810
down €21,810 (-9.0%), from €241,198 to €219,388
of which Land and buildings: -€16,429
- Stocks and contracts +€8,597
up €8,597 (+72.1%), from €11,925 to €20,522
- Other debts +€32,119
up €32,119 (+36.8%), from €87,194 to €119,312
- Debts after one year -€31,662
down €31,662 (-13.3%), from €237,540 to €205,878
of which Financial debts: -€31,662
- Trade debts +€18,030
up €18,030 (+1121.4%), from €1,608 to €19,638
- Profit (loss) carried forward +€13,382
up €13,382 (+14.6%), from -€91,833 to -€78,451
- Gross operating margin -€4,846
down €4,846 (-8.9%), from €54,361 to €49,515
- Financial charges -€1,677
down €1,677 (-14.2%), from €11,822 to €10,146
of which Financial charges: -€1,670
- Depreciation +€1,349
up €1,349 (+6.1%), from €21,961 to €23,310
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 | €430,189 | €461,281 | +€31,093 | +7.2% |
| Fixed assets | 21/28 | €241,823 | €220,013 | -€21,810 | -9.0% |
| Tangible fixed assets | 22/27 | €241,198 | €219,388 | -€21,810 | -9.0% |
| Land and buildings | 22 | €197,151 | €180,722 | -€16,429 | -8.3% |
| Plant, machinery and equipment | 23 | €40,626 | €37,214 | -€3,412 | -8.4% |
| Furniture and vehicles | 24 | €3,421 | €1,453 | -€1,969 | -57.5% |
| Financial fixed assets | 28 | €625 | €625 | = | 0.0% |
| Current assets | 29/58 | €188,366 | €241,268 | +€52,902 | +28.1% |
| Stocks and contracts in progress | 3 | €11,925 | €20,522 | +€8,597 | +72.1% |
| Stocks | 30/36 | €11,925 | €20,522 | +€8,597 | +72.1% |
| Amounts receivable within one year | 40/41 | €98,577 | €140,810 | +€42,232 | +42.8% |
| Trade receivables | 40 | €10,614 | €12,314 | +€1,699 | +16.0% |
| Other amounts receivable | 41 | €87,963 | €128,496 | +€40,533 | +46.1% |
| Cash at bank and in hand | 54/58 | €77,526 | €79,461 | +€1,935 | +2.5% |
| Deferred charges and accrued income | 490/1 | €337 | €475 | +€139 | +41.2% |
| Total equity and liabilities | 10/49 | €430,189 | €461,281 | +€31,093 | +7.2% |
| Equity | 10/15 | €68,838 | €82,221 | +€13,382 | +19.4% |
| Contributions | 10/11 | €160,000 | €160,000 | = | 0.0% |
| Reserves | 13 | €671 | €671 | = | 0.0% |
| Non-distributable reserves | 130/1 | €671 | €671 | = | 0.0% |
| Reserves not available under the articles | 1311 | €671 | €671 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€91,833 | -€78,451 | +€13,382 | +14.6% |
| Amounts payable | 17/49 | €361,350 | €379,061 | +€17,711 | +4.9% |
| Amounts payable after more than one year | 17 | €237,540 | €205,878 | -€31,662 | -13.3% |
| Financial debts | 170/4 | €107,540 | €75,878 | -€31,662 | -29.4% |
| Other amounts payable | 178/9 | €130,000 | €130,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €123,810 | €173,183 | +€49,372 | +39.9% |
| Current portion of amounts payable after more than one year | 42 | €29,886 | €31,662 | +€1,776 | +5.9% |
| Trade debts | 44 | €1,608 | €19,638 | +€18,030 | +1121.4% |
| Suppliers | 440/4 | €1,608 | €19,638 | +€18,030 | +1121.4% |
| Advances received on contracts in progress | 46 | €460 | €104 | -€356 | -77.4% |
| Taxes, remuneration and social security | 45 | €4,663 | €2,467 | -€2,197 | -47.1% |
| Taxes | 450/3 | €4,663 | €2,467 | -€2,197 | -47.1% |
| Other amounts payable | 47/48 | €87,194 | €119,312 | +€32,119 | +36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,961 | €23,310 | +€1,349 | +6.1% |
| Other operating charges | 640/8 | €2,242 | €2,529 | +€287 | +12.8% |
| Gross operating margin | 9900 | €54,361 | €49,515 | -€4,846 | -8.9% |
| Operating profit (loss) | 9901 | €30,158 | €23,676 | -€6,482 | -21.5% |
| Financial income | 75/76B | €1 | €91 | +€90 | +7890.4% |
| Recurring financial income | 75 | €1 | €5 | +€4 | +373.7% |
| Non-recurring financial income | 76B | €1 | €86 | +€85 | +7416.7% |
| Financial charges | 65/66B | €11,822 | €10,146 | -€1,677 | -14.2% |
| Recurring financial charges | 65 | €11,815 | €10,145 | -€1,670 | -14.1% |
| Non-recurring financial charges | 66B | €8 | €1 | -€7 | -86.5% |
| Profit (loss) for the period before taxes | 9903 | €18,337 | €13,622 | -€4,715 | -25.7% |
| Income taxes | 67/77 | €358 | €240 | -€119 | -33.2% |
| Profit (loss) for the period | 9904 | €17,979 | €13,382 | -€4,596 | -25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,979 | €13,382 | -€4,596 | -25.6% |
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 6 October 2026 via checked.be.