MAIDAM: 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.
MAIDAM
Largest movements
- Receivables within one year +€78,866
up €78,866 (+77.6%), from €101,656 to €180,522
of which Trade receivables: +€56,298
- Cash -€61,863
down €61,863 (-86.5%), from €71,559 to €9,696
mainly Receivables within one year (-€78,866) and Tax, wage and social debts (-€16,131)
- Tangible fixed assets -€5,754
down €5,754 (-32.2%), from €17,867 to €12,113
of which Furniture and vehicles: -€6,100
- Profit (loss) carried forward +€28,585
up €28,585 (+21.9%), from €130,235 to €158,820
- Tax, wage and social debts -€16,131
down €16,131 (-32.7%), from €49,347 to €33,216
of which Taxes: -€10,101
- Staff costs -€6,866
down €6,866 (-43.7%), from €15,699 to €8,833
- Other operating charges +€1,448
up €1,448 (+33.5%), from €4,327 to €5,775
- Depreciation +€1,042
up €1,042 (+14.2%), from €7,335 to €8,377
- Gross operating margin -€980
down €980 (-1.4%), from €69,724 to €68,744
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 | €197,808 | €208,320 | +€10,512 | +5.3% |
| Fixed assets | 21/28 | €17,867 | €12,113 | -€5,754 | -32.2% |
| Tangible fixed assets | 22/27 | €17,867 | €12,113 | -€5,754 | -32.2% |
| Plant, machinery and equipment | 23 | €1,075 | €1,421 | +€346 | +32.2% |
| Furniture and vehicles | 24 | €16,792 | €10,692 | -€6,100 | -36.3% |
| Current assets | 29/58 | €179,941 | €196,207 | +€16,266 | +9.0% |
| Amounts receivable within one year | 40/41 | €101,656 | €180,522 | +€78,866 | +77.6% |
| Trade receivables | 40 | €82,924 | €139,222 | +€56,298 | +67.9% |
| Other amounts receivable | 41 | €18,732 | €41,300 | +€22,568 | +120% |
| Cash at bank and in hand | 54/58 | €71,559 | €9,696 | -€61,863 | -86.5% |
| Deferred charges and accrued income | 490/1 | €6,725 | €5,989 | -€736 | -10.9% |
| Total equity and liabilities | 10/49 | €197,808 | €208,320 | +€10,512 | +5.3% |
| Equity | 10/15 | €133,535 | €162,120 | +€28,585 | +21.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €3,000 | +€3,000 | |
| Other | 1109/19 | - | €3,000 | +€3,000 | |
| Reserves | 13 | €300 | €300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €300 | €300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €300 | €300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €130,235 | €158,820 | +€28,585 | +21.9% |
| Amounts payable | 17/49 | €64,273 | €46,200 | -€18,073 | -28.1% |
| Amounts payable within one year | 42/48 | €64,273 | €46,200 | -€18,073 | -28.1% |
| Trade debts | 44 | €14,926 | €12,984 | -€1,942 | -13.0% |
| Suppliers | 440/4 | €14,926 | €12,984 | -€1,942 | -13.0% |
| Taxes, remuneration and social security | 45 | €49,347 | €33,216 | -€16,131 | -32.7% |
| Taxes | 450/3 | €26,571 | €16,470 | -€10,101 | -38.0% |
| Remuneration and social security | 454/9 | €22,776 | €16,746 | -€6,030 | -26.5% |
| Remuneration, social security and pensions | 62 | €15,699 | €8,833 | -€6,866 | -43.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,335 | €8,377 | +€1,042 | +14.2% |
| Other operating charges | 640/8 | €4,327 | €5,775 | +€1,448 | +33.5% |
| Gross operating margin | 9900 | €69,724 | €68,744 | -€980 | -1.4% |
| Operating profit (loss) | 9901 | €42,363 | €45,759 | +€3,396 | +8.0% |
| Financial income | 75/76B | €1,627 | €1,417 | -€210 | -12.9% |
| Recurring financial income | 75 | €1,627 | €1,417 | -€210 | -12.9% |
| Financial charges | 65/66B | €9,846 | €10,474 | +€628 | +6.4% |
| Recurring financial charges | 65 | €9,846 | €10,474 | +€628 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €34,144 | €36,702 | +€2,558 | +7.5% |
| Income taxes | 67/77 | €8,575 | €8,117 | -€458 | -5.3% |
| Profit (loss) for the period | 9904 | €25,569 | €28,585 | +€3,016 | +11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,569 | €28,585 | +€3,016 | +11.8% |
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 17 October 2026 via checked.be.