MAIKA SANTOS: 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.
MAIKA SANTOS
Largest movements
- Receivables within one year -€12,088
down €12,088 (-9.9%), from €121,731 to €109,644
of which Other amounts receivable: -€8,424
- Cash -€6,319
down €6,319 (-75.7%), from €8,346 to €2,027
mainly Net result for the year (-€9,059) and Tax, wage and social debts (-€6,636)
- Profit (loss) carried forward -€9,059
down €9,059 (-21.4%), from -€42,305 to -€51,364
- Tax, wage and social debts -€6,636
down €6,636 (-30.7%), from €21,623 to €14,986
of which Remuneration and social security: -€4,101
- Trade debts -€2,580
down €2,580 (-54.6%), from €4,724 to €2,144
- Staff costs -€18,742
down €18,742 (-16.1%), from €116,204 to €97,462
- Financial charges +€8,224
up €8,224 (+345%), from €2,384 to €10,609
of which Non-recurring financial charges: +€8,067
- Financial income -€3,093
down €3,093 (-99.5%), from €3,108 to €15
of which Non-recurring financial income: -€2,990
- Gross operating margin -€2,190
down €2,190 (-2.2%), from €101,474 to €99,284
- Taxes -€1,630
down €1,630, from €245 to -€1,386
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 | €130,193 | €111,917 | -€18,276 | -14.0% |
| Fixed assets | 21/28 | €115 | €115 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €130,078 | €111,802 | -€18,276 | -14.0% |
| Amounts receivable within one year | 40/41 | €121,731 | €109,644 | -€12,088 | -9.9% |
| Trade receivables | 40 | €13,382 | €9,717 | -€3,664 | -27.4% |
| Other amounts receivable | 41 | €108,350 | €99,926 | -€8,424 | -7.8% |
| Cash at bank and in hand | 54/58 | €8,346 | €2,027 | -€6,319 | -75.7% |
| Deferred charges and accrued income | 490/1 | - | €131 | +€131 | |
| Total equity and liabilities | 10/49 | €130,193 | €111,917 | -€18,276 | -14.0% |
| Equity | 10/15 | €103,846 | €94,786 | -€9,059 | -8.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €146,051 | €146,051 | = | 0.0% |
| Distributable reserves | 133 | €146,051 | €146,051 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,305 | -€51,364 | -€9,059 | -21.4% |
| Amounts payable | 17/49 | €26,347 | €17,130 | -€9,216 | -35.0% |
| Amounts payable within one year | 42/48 | €26,347 | €17,130 | -€9,216 | -35.0% |
| Trade debts | 44 | €4,724 | €2,144 | -€2,580 | -54.6% |
| Suppliers | 440/4 | €4,724 | €2,144 | -€2,580 | -54.6% |
| Taxes, remuneration and social security | 45 | €21,623 | €14,986 | -€6,636 | -30.7% |
| Taxes | 450/3 | €8,214 | €5,679 | -€2,535 | -30.9% |
| Remuneration and social security | 454/9 | €13,409 | €9,308 | -€4,101 | -30.6% |
| Remuneration, social security and pensions | 62 | €116,204 | €97,462 | -€18,742 | -16.1% |
| Other operating charges | 640/8 | €837 | €1,673 | +€836 | +99.9% |
| Gross operating margin | 9900 | €101,474 | €99,284 | -€2,190 | -2.2% |
| Operating profit (loss) | 9901 | -€15,567 | €149 | +€15,716 | |
| Financial income | 75/76B | €3,108 | €15 | -€3,093 | -99.5% |
| Recurring financial income | 75 | €118 | €15 | -€103 | -87.5% |
| Non-recurring financial income | 76B | €2,990 | - | -€2,990 | |
| Financial charges | 65/66B | €2,384 | €10,609 | +€8,224 | +345% |
| Recurring financial charges | 65 | €479 | €637 | +€158 | +32.9% |
| Non-recurring financial charges | 66B | €1,905 | €9,972 | +€8,067 | +423% |
| Profit (loss) for the period before taxes | 9903 | -€14,844 | -€10,445 | +€4,399 | +29.6% |
| Income taxes | 67/77 | €245 | -€1,386 | -€1,630 | |
| Profit (loss) for the period | 9904 | -€15,088 | -€9,059 | +€6,029 | +40.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,088 | -€9,059 | +€6,029 | +40.0% |
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 31 October 2026 via checked.be.