MAIGRET: 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.
MAIGRET
Largest movements
- Tangible fixed assets +€957,354
up €957,354 (+96.8%), from €989,429 to €1.9m
of which Land and buildings: +€954,360
- Receivables within one year -€216,638
down €216,638 (-48.7%), from €444,743 to €228,105
of which Other amounts receivable: -€211,360
- Other debts +€931,062
up €931,062 (+247.3%), from €376,481 to €1.3m
- Profit (loss) carried forward -€102,039
down €102,039 (-14.6%), from €699,864 to €597,824
- Tax, wage and social debts -€86,130
down €86,130 (-100.0%), from €86,130 to €0
- Financial income -€91,600
down €91,600 (-100.0%), from €91,600 to €0
- Financial charges +€17,878
up €17,878 (+2388.5%), from €749 to €18,627
of which Non-recurring financial charges: +€18,000
- Services and other goods +€9,596
up €9,596 (+36.2%), from €26,510 to €36,106
- Taxes -€9,229
down €9,229 (-100.0%), from €9,229 to €0
- Depreciation +€3,478
up €3,478 (+7.0%), from €50,036 to €53,514
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 | €1,579,507 | €2,320,922 | +€741,416 | +46.9% |
| Fixed assets | 21/28 | €990,179 | €1,947,533 | +€957,354 | +96.7% |
| Tangible fixed assets | 22/27 | €989,429 | €1,946,783 | +€957,354 | +96.8% |
| Land and buildings | 22 | €985,283 | €1,939,643 | +€954,360 | +96.9% |
| Plant, machinery and equipment | 23 | €4,145 | €7,140 | +€2,994 | +72.2% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Other financial fixed assets | 284/8 | €750 | €750 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €589,328 | €373,390 | -€215,938 | -36.6% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €444,743 | €228,105 | -€216,638 | -48.7% |
| Trade receivables | 40 | €5,278 | €0 | -€5,278 | -100.0% |
| Other amounts receivable | 41 | €439,465 | €228,105 | -€211,360 | -48.1% |
| Cash at bank and in hand | 54/58 | €144,585 | €144,796 | +€210 | +0.1% |
| Deferred charges and accrued income | 490/1 | €0 | €489 | +€489 | |
| Total equity and liabilities | 10/49 | €1,579,507 | €2,320,922 | +€741,416 | +46.9% |
| Equity | 10/15 | €1,071,148 | €969,109 | -€102,039 | -9.5% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €261,285 | €261,285 | = | 0.0% |
| Distributable reserves | 133 | €261,285 | €261,285 | = | 0.0% |
| Profit (loss) carried forward | 14 | €699,864 | €597,824 | -€102,039 | -14.6% |
| Amounts payable | 17/49 | €508,358 | €1,351,814 | +€843,455 | +165.9% |
| Amounts payable after more than one year | 17 | €33,935 | €22,084 | -€11,851 | -34.9% |
| Financial debts | 170/4 | €33,935 | €22,084 | -€11,851 | -34.9% |
| Credit institutions | 173 | €33,935 | €22,084 | -€11,851 | -34.9% |
| Amounts payable within one year | 42/48 | €474,424 | €1,329,730 | +€855,306 | +180.3% |
| Current portion of amounts payable after more than one year | 42 | €11,716 | €11,851 | +€135 | +1.2% |
| Trade debts | 44 | €96 | €10,336 | +€10,240 | +10614.3% |
| Suppliers | 440/4 | €96 | €10,336 | +€10,240 | +10614.3% |
| Taxes, remuneration and social security | 45 | €86,130 | €0 | -€86,130 | -100.0% |
| Taxes | 450/3 | €86,130 | €0 | -€86,130 | -100.0% |
| Other amounts payable | 47/48 | €376,481 | €1,307,543 | +€931,062 | +247.3% |
| Operating income | 70/76A | €24,449 | €24,000 | -€449 | -1.8% |
| Turnover | 70 | €24,449 | €24,000 | -€449 | -1.8% |
| Operating charges | 60/66A | €80,323 | €107,412 | +€27,090 | +33.7% |
| Services and other goods | 61 | €26,510 | €36,106 | +€9,596 | +36.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,036 | €53,514 | +€3,478 | +7.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €3,777 | €3,076 | -€701 | -18.6% |
| Non-recurring operating charges | 66A | - | €14,717 | +€14,717 | |
| Operating profit (loss) | 9901 | -€55,874 | -€83,412 | -€27,538 | -49.3% |
| Financial income | 75/76B | €91,600 | €0 | -€91,600 | -100.0% |
| Recurring financial income | 75 | €91,600 | €0 | -€91,600 | -100.0% |
| Income from current assets | 751 | €91,600 | €0 | -€91,600 | -100.0% |
| Other financial income | 752/9 | €0 | - | = | |
| Financial charges | 65/66B | €749 | €18,627 | +€17,878 | +2388.5% |
| Recurring financial charges | 65 | €749 | €627 | -€122 | -16.2% |
| Debt charges | 650 | €627 | €493 | -€134 | -21.3% |
| Other financial charges | 652/9 | €122 | €134 | +€12 | +10.0% |
| Non-recurring financial charges | 66B | - | €18,000 | +€18,000 | |
| Profit (loss) for the period before taxes | 9903 | €34,977 | -€102,039 | -€137,017 | |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €9,229 | €0 | -€9,229 | -100.0% |
| Taxes | 670/3 | €9,229 | €0 | -€9,229 | -100.0% |
| Profit (loss) for the period | 9904 | €25,749 | -€102,039 | -€127,788 | |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €25,749 | -€102,039 | -€127,788 |
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 7 October 2026 via checked.be.