MAKS27: 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.
MAKS27
Largest movements
- Cash +€13,320
up €13,320 (+13.1%), from €101,923 to €115,242
mainly Other debts (+€13,452) and Net result for the year (+€12,496)
- Other debts +€13,452
up €13,452 (+7412.1%), from €181 to €13,634
- Trade debts +€1,539
up €1,539 (+73.1%), from €2,105 to €3,644
- Taxes -€1,873
down €1,873 (-29.7%), from €6,301 to €4,428
- Gross operating margin -€1,275
down €1,275 (-6.4%), from €19,793 to €18,518
- Financial income -€1,124
down €1,124 (-76.5%), from €1,470 to €346
- Other operating charges +€243
up €243 (+22.8%), from €1,063 to €1,306
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 | €113,416 | €127,713 | +€14,297 | +12.6% |
| Fixed assets | 21/28 | €1,027 | €1,660 | +€633 | +61.6% |
| Tangible fixed assets | 22/27 | €1,027 | €1,660 | +€633 | +61.6% |
| Furniture and vehicles | 24 | €1,027 | €1,660 | +€633 | +61.6% |
| Current assets | 29/58 | €112,389 | €126,053 | +€13,664 | +12.2% |
| Amounts receivable within one year | 40/41 | €10,467 | €10,566 | +€100 | +1.0% |
| Trade receivables | 40 | €9,954 | €9,994 | +€40 | +0.4% |
| Other amounts receivable | 41 | €512 | €572 | +€60 | +11.6% |
| Cash at bank and in hand | 54/58 | €101,923 | €115,242 | +€13,320 | +13.1% |
| Deferred charges and accrued income | 490/1 | - | €245 | +€245 | |
| Total equity and liabilities | 10/49 | €113,416 | €127,713 | +€14,297 | +12.6% |
| Equity | 10/15 | €102,129 | €102,129 | = | 0.0% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €102,128 | €102,128 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €100,268 | €100,268 | = | 0.0% |
| Amounts payable | 17/49 | €11,288 | €25,584 | +€14,297 | +126.7% |
| Amounts payable within one year | 42/48 | €11,288 | €25,584 | +€14,297 | +126.7% |
| Trade debts | 44 | €2,105 | €3,644 | +€1,539 | +73.1% |
| Suppliers | 440/4 | €2,105 | €3,644 | +€1,539 | +73.1% |
| Taxes, remuneration and social security | 45 | €9,001 | €8,307 | -€694 | -7.7% |
| Taxes | 450/3 | €9,001 | €8,307 | -€694 | -7.7% |
| Other amounts payable | 47/48 | €181 | €13,634 | +€13,452 | +7412.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €469 | €574 | +€105 | +22.4% |
| Other operating charges | 640/8 | €1,063 | €1,306 | +€243 | +22.8% |
| Gross operating margin | 9900 | €19,793 | €18,518 | -€1,275 | -6.4% |
| Operating profit (loss) | 9901 | €18,260 | €16,638 | -€1,623 | -8.9% |
| Financial income | 75/76B | €1,470 | €346 | -€1,124 | -76.5% |
| Recurring financial income | 75 | €1,470 | €346 | -€1,124 | -76.5% |
| Financial charges | 65/66B | €98 | €59 | -€39 | -39.5% |
| Recurring financial charges | 65 | €98 | €59 | -€39 | -39.5% |
| Profit (loss) for the period before taxes | 9903 | €19,633 | €16,924 | -€2,708 | -13.8% |
| Income taxes | 67/77 | €6,301 | €4,428 | -€1,873 | -29.7% |
| Profit (loss) for the period | 9904 | €13,332 | €12,496 | -€835 | -6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,332 | €12,496 | -€835 | -6.3% |
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 2 October 2026 via checked.be.