MAKI 2.0: 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.
MAKI 2.0
Largest movements
- Cash +€93,761
up €93,761 (+129%), from €72,833 to €166,594
mainly Net result for the year (+€75,691) and Other debts (+€41,515)
- Receivables within one year +€48,465
up €48,465 (+558%), from €8,686 to €57,151
of which Trade receivables: +€43,115
- Other debts +€41,515
up €41,515 (+470%), from €8,840 to €50,355
- Trade debts +€32,739
up €32,739 (+214%), from €15,311 to €48,050
of which Suppliers: +€32,739
- Tax, wage and social debts +€26,207
up €26,207 (+120%), from €21,779 to €47,986
of which Taxes: +€19,930
- Profit (loss) carried forward +€23,191
up €23,191 (+50.5%), from €45,884 to €69,075
- Advances received +€17,140
up €17,140 (+1,207%), from €1,421 to €18,561
- Gross operating margin +€92,881
up €92,881 (+71.4%), from €130,060 to €222,941
- Staff costs +€41,535
up €41,535 (+55.8%), from €74,431 to €115,966
- Taxes +€12,741
up €12,741 (+129%), from €9,892 to €22,633
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 | €96,235 | €237,027 | +€140,793 | +146% |
| Fixed assets | 21/28 | €14,351 | €12,968 | -€1,383 | -9.6% |
| Tangible fixed assets | 22/27 | €14,351 | €12,968 | -€1,383 | -9.6% |
| Plant, machinery and equipment | 23 | €8,058 | €4,212 | -€3,846 | -47.7% |
| Furniture and vehicles | 24 | €5,009 | €5,427 | +€419 | +8.4% |
| Other tangible fixed assets | 26 | €1,284 | €3,329 | +€2,045 | +159% |
| Current assets | 29/58 | €81,884 | €224,060 | +€142,176 | +174% |
| Stocks and contracts in progress | 3 | €366 | €315 | -€50 | -13.8% |
| Stocks | 30/36 | €366 | €315 | -€50 | -13.8% |
| Amounts receivable within one year | 40/41 | €8,686 | €57,151 | +€48,465 | +558% |
| Trade receivables | 40 | €1,754 | €44,869 | +€43,115 | +2,458% |
| Other amounts receivable | 41 | €6,932 | €12,281 | +€5,350 | +77.2% |
| Cash at bank and in hand | 54/58 | €72,833 | €166,594 | +€93,761 | +129% |
| Total equity and liabilities | 10/49 | €96,235 | €237,027 | +€140,793 | +146% |
| Equity | 10/15 | €48,884 | €72,075 | +€23,191 | +47.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,884 | €69,075 | +€23,191 | +50.5% |
| Amounts payable | 17/49 | €47,351 | €164,952 | +€117,602 | +248% |
| Amounts payable within one year | 42/48 | €47,351 | €164,952 | +€117,602 | +248% |
| Trade debts | 44 | €15,311 | €48,050 | +€32,739 | +214% |
| Suppliers | 440/4 | €15,235 | €47,974 | +€32,739 | +215% |
| Bills of exchange payable | 441 | €76 | €76 | = | 0.0% |
| Advances received on contracts in progress | 46 | €1,421 | €18,561 | +€17,140 | +1,207% |
| Taxes, remuneration and social security | 45 | €21,779 | €47,986 | +€26,207 | +120% |
| Taxes | 450/3 | €12,081 | €32,011 | +€19,930 | +165% |
| Remuneration and social security | 454/9 | €9,698 | €15,975 | +€6,277 | +64.7% |
| Other amounts payable | 47/48 | €8,840 | €50,355 | +€41,515 | +470% |
| Non-recurring operating income | 76A | - | €103 | +€103 | |
| Remuneration, social security and pensions | 62 | €74,431 | €115,966 | +€41,535 | +55.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,587 | €7,522 | -€1,065 | -12.4% |
| Other operating charges | 640/8 | €1,005 | €734 | -€271 | -27.0% |
| Gross operating margin | 9900 | €130,060 | €222,941 | +€92,881 | +71.4% |
| Operating profit (loss) | 9901 | €46,037 | €98,719 | +€52,682 | +114% |
| Financial income | 75/76B | €2 | €3 | +€1 | +91.3% |
| Recurring financial income | 75 | €2 | €3 | +€1 | +91.3% |
| Financial charges | 65/66B | €200 | €398 | +€198 | +99.0% |
| Recurring financial charges | 65 | €200 | €398 | +€198 | +99.0% |
| Profit (loss) for the period before taxes | 9903 | €45,838 | €98,324 | +€52,486 | +115% |
| Income taxes | 67/77 | €9,892 | €22,633 | +€12,741 | +129% |
| Profit (loss) for the period | 9904 | €35,946 | €75,691 | +€39,745 | +111% |
| Profit (loss) for the period to be appropriated | 9905 | €35,946 | €75,691 | +€39,745 | +111% |
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 1 November 2026 via checked.be.