MAÎDAN: 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.
MAÎDAN
Largest movements
- Intangible fixed assets -€4,000
down €4,000 (-37.5%), from €10,663 to €6,663
- Financial fixed assets +€2,600
new in 2025: €2,600
- Stocks and contracts +€2,216
up €2,216 (+6.2%), from €35,776 to €37,992
- Cash +€2,202
up €2,202 (+54.7%), from €4,029 to €6,231
mainly Net result for the year (+€7,950) and Depreciation (+€4,000)
- Profit (loss) carried forward +€7,950
up €7,950 (+10.1%), from -€78,804 to -€70,854
- Other debts -€6,190
down €6,190 (-6.8%), from €90,480 to €84,290
- Accrued charges and deferred income +€1,700
new in 2025: €1,700
- Trade debts -€1,654
down €1,654 (-14.6%), from €11,333 to €9,679
- Tax, wage and social debts +€1,212
up €1,212 (+49.6%), from €2,441 to €3,653
- Gross operating margin +€13,179
up €13,179 (+221%), from €5,962 to €19,141
- Other operating charges +€5,274
up €5,274 (+372%), from €1,417 to €6,691
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 | €50,468 | €53,487 | +€3,018 | +6.0% |
| Fixed assets | 21/28 | €10,663 | €9,263 | -€1,400 | -13.1% |
| Intangible fixed assets | 21 | €10,663 | €6,663 | -€4,000 | -37.5% |
| Financial fixed assets | 28 | - | €2,600 | +€2,600 | |
| Current assets | 29/58 | €39,805 | €44,223 | +€4,418 | +11.1% |
| Stocks and contracts in progress | 3 | €35,776 | €37,992 | +€2,216 | +6.2% |
| Stocks | 30/36 | €35,776 | €37,992 | +€2,216 | +6.2% |
| Cash at bank and in hand | 54/58 | €4,029 | €6,231 | +€2,202 | +54.7% |
| Total equity and liabilities | 10/49 | €50,468 | €53,487 | +€3,018 | +6.0% |
| Equity | 10/15 | -€53,785 | -€45,835 | +€7,950 | +14.8% |
| Contributions | 10/11 | €24,600 | €24,600 | = | 0.0% |
| Capital | 10 | €24,600 | €24,600 | = | 0.0% |
| Issued capital | 100 | €24,800 | €24,800 | = | 0.0% |
| Uncalled capital | 101 | €200 | €200 | = | 0.0% |
| Reserves | 13 | €419 | €419 | = | 0.0% |
| Non-distributable reserves | 130/1 | €419 | €419 | = | 0.0% |
| Legal reserve | 130 | €419 | €419 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,804 | -€70,854 | +€7,950 | +10.1% |
| Amounts payable | 17/49 | €104,253 | €99,321 | -€4,932 | -4.7% |
| Amounts payable within one year | 42/48 | €104,253 | €97,621 | -€6,632 | -6.4% |
| Trade debts | 44 | €11,333 | €9,679 | -€1,654 | -14.6% |
| Suppliers | 440/4 | €11,333 | €9,679 | -€1,654 | -14.6% |
| Taxes, remuneration and social security | 45 | €2,441 | €3,653 | +€1,212 | +49.6% |
| Taxes | 450/3 | €2,441 | €3,653 | +€1,212 | +49.6% |
| Other amounts payable | 47/48 | €90,480 | €84,290 | -€6,190 | -6.8% |
| Accrued charges and deferred income | 492/3 | - | €1,700 | +€1,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,000 | €4,000 | = | 0.0% |
| Other operating charges | 640/8 | €1,417 | €6,691 | +€5,274 | +372% |
| Gross operating margin | 9900 | €5,962 | €19,141 | +€13,179 | +221% |
| Operating profit (loss) | 9901 | €545 | €8,450 | +€7,904 | +1,449% |
| Financial charges | 65/66B | €322 | €500 | +€177 | +55.0% |
| Recurring financial charges | 65 | €322 | €500 | +€177 | +55.0% |
| Profit (loss) for the period before taxes | 9903 | €223 | €7,950 | +€7,727 | +3,465% |
| Profit (loss) for the period | 9904 | €223 | €7,950 | +€7,727 | +3,465% |
| Profit (loss) for the period to be appropriated | 9905 | €223 | €7,950 | +€7,727 | +3,465% |
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 18 October 2026 via checked.be.