MAM-BA: 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.
MAM-BA
Largest movements
- Cash +€4,627
up €4,627 (+8.4%), from €54,835 to €59,462
mainly Net result for the year (+€51,681) and Other debts (+€20,578)
- Tangible fixed assets +€3,872
up €3,872 (+65.2%), from €5,936 to €9,807
of which Plant, machinery and equipment: +€2,034
- Receivables within one year +€1,893
up €1,893 (+11.6%), from €16,317 to €18,210
of which Trade receivables: +€1,579
- Reserves -€23,038
down €23,038 (-100.0%), from €23,038 to €0
- Other debts +€20,578
up €20,578 (+47.9%), from €42,934 to €63,511
- Tax, wage and social debts +€12,932
up €12,932 (+111.8%), from €11,569 to €24,501
of which Taxes: +€15,893
- Gross operating margin -€1,591
down €1,591 (-2.2%), from €73,458 to €71,866
- Depreciation +€1,556
up €1,556 (+894.9%), from €174 to €1,730
- Financial charges +€1,356
up €1,356 (+109.2%), from €1,242 to €2,598
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 | €79,996 | €90,392 | +€10,396 | +13.0% |
| Fixed assets | 21/28 | €5,936 | €9,807 | +€3,872 | +65.2% |
| Tangible fixed assets | 22/27 | €5,936 | €9,807 | +€3,872 | +65.2% |
| Plant, machinery and equipment | 23 | - | €2,034 | +€2,034 | |
| Furniture and vehicles | 24 | €5,936 | €7,773 | +€1,837 | +31.0% |
| Current assets | 29/58 | €74,060 | €80,584 | +€6,525 | +8.8% |
| Amounts receivable within one year | 40/41 | €16,317 | €18,210 | +€1,893 | +11.6% |
| Trade receivables | 40 | €16,317 | €17,896 | +€1,579 | +9.7% |
| Other amounts receivable | 41 | - | €314 | +€314 | |
| Cash at bank and in hand | 54/58 | €54,835 | €59,462 | +€4,627 | +8.4% |
| Deferred charges and accrued income | 490/1 | €2,908 | €2,913 | +€4 | +0.1% |
| Total equity and liabilities | 10/49 | €79,996 | €90,392 | +€10,396 | +13.0% |
| Equity | 10/15 | €25,038 | €2,000 | -€23,038 | -92.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €23,038 | €0 | -€23,038 | -100.0% |
| Distributable reserves | 133 | €23,038 | €0 | -€23,038 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €54,958 | €88,392 | +€33,434 | +60.8% |
| Amounts payable within one year | 42/48 | €54,958 | €88,392 | +€33,434 | +60.8% |
| Trade debts | 44 | €455 | €379 | -€76 | -16.6% |
| Suppliers | 440/4 | €455 | €379 | -€76 | -16.6% |
| Taxes, remuneration and social security | 45 | €11,569 | €24,501 | +€12,932 | +111.8% |
| Taxes | 450/3 | €8,608 | €24,501 | +€15,893 | +184.6% |
| Remuneration and social security | 454/9 | €2,961 | €0 | -€2,961 | -100.0% |
| Other amounts payable | 47/48 | €42,934 | €63,511 | +€20,578 | +47.9% |
| Non-recurring operating income | 76A | €12,859 | €0 | -€12,859 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €174 | €1,730 | +€1,556 | +894.9% |
| Other operating charges | 640/8 | €775 | €787 | +€12 | +1.5% |
| Gross operating margin | 9900 | €73,458 | €71,866 | -€1,591 | -2.2% |
| Operating profit (loss) | 9901 | €72,509 | €69,349 | -€3,159 | -4.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €1,242 | €2,598 | +€1,356 | +109.2% |
| Recurring financial charges | 65 | €1,242 | €2,598 | +€1,356 | +109.2% |
| Profit (loss) for the period before taxes | 9903 | €71,267 | €66,752 | -€4,515 | -6.3% |
| Income taxes | 67/77 | €14,977 | €15,070 | +€94 | +0.6% |
| Profit (loss) for the period | 9904 | €56,290 | €51,681 | -€4,609 | -8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,290 | €51,681 | -€4,609 | -8.2% |
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 4 October 2026 via checked.be.