MAM MAM: 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.
MAM MAM
Largest movements
- Receivables within one year -€8,296
down €8,296 (-43.2%), from €19,211 to €10,915
of which Other amounts receivable: -€8,606
- Current investments -€7,544
down €7,544 (-78.5%), from €9,611 to €2,067
- Tangible fixed assets -€5,669
down €5,669 (-40.5%), from €13,997 to €8,328
of which Other tangible fixed assets: -€6,581
- Cash +€4,702
up €4,702 (+400%), from €1,175 to €5,877
mainly Receivables within one year (+€8,296) and Depreciation (+€8,169)
- Stocks and contracts -€3,194
down €3,194 (-26.6%), from €12,005 to €8,811
- Profit (loss) carried forward -€11,122
down €11,122 (-24.9%), from -€44,620 to -€55,743
- Tax, wage and social debts -€4,740
down €4,740 (-38.4%), from €12,336 to €7,596
of which Taxes: -€4,865
- Trade debts -€4,360
down €4,360 (-38.1%), from €11,430 to €7,071
- Gross operating margin +€8,064
up €8,064 (+8.1%), from €99,683 to €107,747
- Staff costs -€2,069
down €2,069 (-1.9%), from €110,354 to €108,285
- Depreciation +€1,590
up €1,590 (+24.2%), from €6,579 to €8,169
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 | €55,999 | €35,998 | -€20,000 | -35.7% |
| Fixed assets | 21/28 | €13,997 | €8,328 | -€5,669 | -40.5% |
| Tangible fixed assets | 22/27 | €13,997 | €8,328 | -€5,669 | -40.5% |
| Plant, machinery and equipment | 23 | €3,006 | €1,677 | -€1,329 | -44.2% |
| Furniture and vehicles | 24 | €132 | €2,373 | +€2,240 | +1,693% |
| Other tangible fixed assets | 26 | €10,859 | €4,278 | -€6,581 | -60.6% |
| Current assets | 29/58 | €42,002 | €27,670 | -€14,331 | -34.1% |
| Stocks and contracts in progress | 3 | €12,005 | €8,811 | -€3,194 | -26.6% |
| Stocks | 30/36 | €12,005 | €8,811 | -€3,194 | -26.6% |
| Amounts receivable within one year | 40/41 | €19,211 | €10,915 | -€8,296 | -43.2% |
| Trade receivables | 40 | €702 | €1,012 | +€310 | +44.1% |
| Other amounts receivable | 41 | €18,508 | €9,902 | -€8,606 | -46.5% |
| Current investments | 50/53 | €9,611 | €2,067 | -€7,544 | -78.5% |
| Cash at bank and in hand | 54/58 | €1,175 | €5,877 | +€4,702 | +400% |
| Total equity and liabilities | 10/49 | €55,999 | €35,998 | -€20,000 | -35.7% |
| Equity | 10/15 | €26,206 | €15,084 | -€11,122 | -42.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €50,366 | €50,366 | = | 0.0% |
| Distributable reserves | 133 | €50,366 | €50,366 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,620 | -€55,743 | -€11,122 | -24.9% |
| Amounts payable | 17/49 | €29,793 | €20,915 | -€8,878 | -29.8% |
| Amounts payable within one year | 42/48 | €29,793 | €20,915 | -€8,878 | -29.8% |
| Trade debts | 44 | €11,430 | €7,071 | -€4,360 | -38.1% |
| Suppliers | 440/4 | €11,430 | €7,071 | -€4,360 | -38.1% |
| Taxes, remuneration and social security | 45 | €12,336 | €7,596 | -€4,740 | -38.4% |
| Taxes | 450/3 | €5,015 | €150 | -€4,865 | -97.0% |
| Remuneration and social security | 454/9 | €7,321 | €7,446 | +€125 | +1.7% |
| Other amounts payable | 47/48 | €6,026 | €6,248 | +€222 | +3.7% |
| Remuneration, social security and pensions | 62 | €110,354 | €108,285 | -€2,069 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,579 | €8,169 | +€1,590 | +24.2% |
| Other operating charges | 640/8 | €2,064 | €1,527 | -€538 | -26.0% |
| Gross operating margin | 9900 | €99,683 | €107,747 | +€8,064 | +8.1% |
| Operating profit (loss) | 9901 | -€19,314 | -€10,234 | +€9,081 | +47.0% |
| Financial income | 75/76B | €221 | €11 | -€210 | -95.0% |
| Recurring financial income | 75 | €221 | €11 | -€210 | -95.0% |
| Financial charges | 65/66B | €771 | €750 | -€21 | -2.7% |
| Recurring financial charges | 65 | €771 | €750 | -€21 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | -€19,864 | -€10,972 | +€8,892 | +44.8% |
| Income taxes | 67/77 | €114 | €150 | +€37 | +32.2% |
| Profit (loss) for the period | 9904 | -€19,978 | -€11,122 | +€8,855 | +44.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,978 | -€11,122 | +€8,855 | +44.3% |
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 21 October 2026 via checked.be.