MAKI: 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.
MAKI
Largest movements
- Cash +€70,712
up €70,712 (+9.6%), from €739,054 to €809,765
mainly Net result for the year (+€94,884) and Tax, wage and social debts (+€7,500)
- Tangible fixed assets +€29,715
up €29,715 (+3461.3%), from €858 to €30,573
- Reserves +€94,051
up €94,051 (+11.5%), from €816,333 to €910,383
- Gross operating margin -€82,062
down €82,062 (-37.6%), from €218,491 to €136,429
- Taxes -€27,567
down €27,567 (-42.3%), from €65,161 to €37,594
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 | €837,642 | €936,967 | +€99,325 | +11.9% |
| Fixed assets | 21/28 | €858 | €30,573 | +€29,715 | +3461.3% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €858 | €30,573 | +€29,715 | +3461.3% |
| Furniture and vehicles | 24 | €858 | €30,573 | +€29,715 | +3461.3% |
| Current assets | 29/58 | €836,783 | €906,394 | +€69,610 | +8.3% |
| Amounts receivable within one year | 40/41 | €96,033 | €95,902 | -€131 | -0.1% |
| Trade receivables | 40 | €86,632 | €63,424 | -€23,207 | -26.8% |
| Other amounts receivable | 41 | €9,401 | €32,478 | +€23,076 | +245.5% |
| Cash at bank and in hand | 54/58 | €739,054 | €809,765 | +€70,712 | +9.6% |
| Deferred charges and accrued income | 490/1 | €1,697 | €726 | -€971 | -57.2% |
| Total equity and liabilities | 10/49 | €837,642 | €936,967 | +€99,325 | +11.9% |
| Equity | 10/15 | €822,533 | €916,583 | +€94,051 | +11.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €816,333 | €910,383 | +€94,051 | +11.5% |
| Distributable reserves | 133 | €816,333 | €910,383 | +€94,051 | +11.5% |
| Amounts payable | 17/49 | €15,109 | €20,383 | +€5,274 | +34.9% |
| Amounts payable within one year | 42/48 | €14,885 | €20,383 | +€5,498 | +36.9% |
| Financial debts | 43 | €1,846 | €74 | -€1,773 | -96.0% |
| Credit institutions | 430/8 | €1,846 | €74 | -€1,773 | -96.0% |
| Trade debts | 44 | €2,433 | €5,523 | +€3,089 | +127.0% |
| Suppliers | 440/4 | €2,433 | €5,523 | +€3,089 | +127.0% |
| Taxes, remuneration and social security | 45 | €3,750 | €11,250 | +€7,500 | +200.0% |
| Taxes | 450/3 | €3,750 | €3,750 | = | 0.0% |
| Remuneration and social security | 454/9 | - | €7,500 | +€7,500 | |
| Other amounts payable | 47/48 | €6,855 | €3,537 | -€3,318 | -48.4% |
| Accrued charges and deferred income | 492/3 | €224 | - | -€224 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,342 | €4,069 | -€273 | -6.3% |
| Other operating charges | 640/8 | €1,019 | €2,036 | +€1,017 | +99.7% |
| Gross operating margin | 9900 | €218,491 | €136,429 | -€82,062 | -37.6% |
| Operating profit (loss) | 9901 | €213,129 | €130,324 | -€82,805 | -38.9% |
| Financial income | 75/76B | €1,938 | €2,235 | +€297 | +15.3% |
| Recurring financial income | 75 | €1,938 | €2,235 | +€297 | +15.3% |
| Financial charges | 65/66B | €62 | €82 | +€20 | +32.9% |
| Recurring financial charges | 65 | €62 | €82 | +€20 | +32.9% |
| Profit (loss) for the period before taxes | 9903 | €215,006 | €132,477 | -€82,528 | -38.4% |
| Income taxes | 67/77 | €65,161 | €37,594 | -€27,567 | -42.3% |
| Profit (loss) for the period | 9904 | €149,844 | €94,884 | -€54,961 | -36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €149,844 | €94,884 | -€54,961 | -36.7% |
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 8 October 2026 via checked.be.