MAIOPE: 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.
MAIOPE
Largest movements
- Tangible fixed assets -€14,499
down €14,499 (-43.7%), from €33,196 to €18,697
of which Leasing and similar rights: -€8,792
- Receivables within one year +€13,863
up €13,863 (+26.1%), from €53,172 to €67,035
of which Trade receivables: +€16,549
- Cash -€12,832
down €12,832 (-73.5%), from €17,452 to €4,620
mainly Contributions, distributions and other (-€23,529) and Trade debts (-€22,435)
- Deferred charges and accrued income -€1,632
no longer reported in 2025 (was €1,632)
- Trade debts -€22,435
down €22,435 (-70.3%), from €31,898 to €9,463
- Profit (loss) carried forward +€8,183
up €8,183 (+23.6%), from €34,722 to €42,905
- Current portion of long-term debt -€5,390
no longer reported in 2025 (was €5,390)
- Tax, wage and social debts +€4,542
up €4,542 (+38.9%), from €11,685 to €16,227
- Gross operating margin +€13,259
up €13,259 (+28.1%), from €47,137 to €60,396
- Taxes +€4,562
up €4,562 (+57.8%), from €7,896 to €12,458
- Depreciation +€622
up €622 (+4.5%), from €13,877 to €14,499
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 | €105,452 | €90,352 | -€15,100 | -14.3% |
| Fixed assets | 21/28 | €33,196 | €18,697 | -€14,499 | -43.7% |
| Tangible fixed assets | 22/27 | €33,196 | €18,697 | -€14,499 | -43.7% |
| Plant, machinery and equipment | 23 | €6,314 | €2,799 | -€3,515 | -55.7% |
| Furniture and vehicles | 24 | €3,927 | €1,735 | -€2,193 | -55.8% |
| Leasing and similar rights | 25 | €22,955 | €14,163 | -€8,792 | -38.3% |
| Current assets | 29/58 | €72,256 | €71,655 | -€601 | -0.8% |
| Amounts receivable within one year | 40/41 | €53,172 | €67,035 | +€13,863 | +26.1% |
| Trade receivables | 40 | €26,373 | €42,922 | +€16,549 | +62.7% |
| Other amounts receivable | 41 | €26,799 | €24,113 | -€2,686 | -10.0% |
| Cash at bank and in hand | 54/58 | €17,452 | €4,620 | -€12,832 | -73.5% |
| Deferred charges and accrued income | 490/1 | €1,632 | - | -€1,632 | |
| Total equity and liabilities | 10/49 | €105,452 | €90,352 | -€15,100 | -14.3% |
| Equity | 10/15 | €39,722 | €47,905 | +€8,183 | +20.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,722 | €42,905 | +€8,183 | +23.6% |
| Amounts payable | 17/49 | €65,730 | €42,447 | -€23,283 | -35.4% |
| Amounts payable after more than one year | 17 | €16,757 | €16,757 | -€0 | 0.0% |
| Financial debts | 170/4 | €16,757 | €16,757 | -€0 | 0.0% |
| Amounts payable within one year | 42/48 | €48,973 | €25,690 | -€23,283 | -47.5% |
| Current portion of amounts payable after more than one year | 42 | €5,390 | - | -€5,390 | |
| Trade debts | 44 | €31,898 | €9,463 | -€22,435 | -70.3% |
| Suppliers | 440/4 | €31,898 | €9,463 | -€22,435 | -70.3% |
| Taxes, remuneration and social security | 45 | €11,685 | €16,227 | +€4,542 | +38.9% |
| Taxes | 450/3 | €11,685 | €16,227 | +€4,542 | +38.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,877 | €14,499 | +€622 | +4.5% |
| Other operating charges | 640/8 | €790 | €202 | -€588 | -74.5% |
| Non-recurring operating charges | 66A | - | €45 | +€45 | |
| Gross operating margin | 9900 | €47,137 | €60,396 | +€13,259 | +28.1% |
| Operating profit (loss) | 9901 | €32,470 | €45,650 | +€13,180 | +40.6% |
| Financial income | 75/76B | €177 | €171 | -€6 | -3.6% |
| Recurring financial income | 75 | €177 | €171 | -€6 | -3.6% |
| Financial charges | 65/66B | €1,308 | €1,652 | +€344 | +26.3% |
| Recurring financial charges | 65 | €1,308 | €1,652 | +€344 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | €31,339 | €44,169 | +€12,830 | +40.9% |
| Income taxes | 67/77 | €7,896 | €12,458 | +€4,562 | +57.8% |
| Profit (loss) for the period | 9904 | €23,443 | €31,711 | +€8,268 | +35.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,443 | €31,711 | +€8,268 | +35.3% |
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 12 October 2026 via checked.be.