MAOCUBE: 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.
MAOCUBE
Largest movements
- Receivables within one year +€32,281
up €32,281 (+379%), from €8,509 to €40,789
of which Other amounts receivable: +€19,807
- Tangible fixed assets +€13,497
up €13,497 (+52.1%), from €25,919 to €39,416
of which Other tangible fixed assets: +€13,564
- Intangible fixed assets -€5,250
down €5,250 (-11.2%), from €46,869 to €41,619
- Cash -€1,865
down €1,865 (-14.5%), from €12,882 to €11,017
mainly Receivables within one year (-€32,281) and Investment in fixed assets (net) (-€17,649)
- Profit (loss) carried forward +€24,307
up €24,307 (+89.7%), from -€27,103 to -€2,796
- Tax, wage and social debts +€14,814
up €14,814 (+51.5%), from €28,749 to €43,562
of which Remuneration and social security: +€8,333
- Debts after one year -€7,962
down €7,962 (-17.5%), from €45,552 to €37,590
- Trade debts +€5,267
up €5,267 (+30.9%), from €17,022 to €22,288
- Short-term financial debts +€1,999
new in 2025: €1,999
- Gross operating margin +€136,454
up €136,454 (+157%), from €86,750 to €223,204
- Staff costs +€85,013
up €85,013 (+87.5%), from €97,115 to €182,128
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 | €94,178 | €133,954 | +€39,776 | +42.2% |
| Fixed assets | 21/28 | €72,788 | €81,034 | +€8,247 | +11.3% |
| Intangible fixed assets | 21 | €46,869 | €41,619 | -€5,250 | -11.2% |
| Tangible fixed assets | 22/27 | €25,919 | €39,416 | +€13,497 | +52.1% |
| Furniture and vehicles | 24 | €2,377 | €2,310 | -€67 | -2.8% |
| Other tangible fixed assets | 26 | €23,542 | €37,106 | +€13,564 | +57.6% |
| Current assets | 29/58 | €21,391 | €52,920 | +€31,529 | +147% |
| Amounts receivable within one year | 40/41 | €8,509 | €40,789 | +€32,281 | +379% |
| Trade receivables | 40 | - | €12,474 | +€12,474 | |
| Other amounts receivable | 41 | €8,509 | €28,315 | +€19,807 | +233% |
| Cash at bank and in hand | 54/58 | €12,882 | €11,017 | -€1,865 | -14.5% |
| Deferred charges and accrued income | 490/1 | - | €1,114 | +€1,114 | |
| Total equity and liabilities | 10/49 | €94,178 | €133,954 | +€39,776 | +42.2% |
| Equity | 10/15 | -€4,603 | €19,704 | +€24,307 | |
| Contributions | 10/11 | €22,500 | €22,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,103 | -€2,796 | +€24,307 | +89.7% |
| Amounts payable | 17/49 | €98,782 | €114,250 | +€15,469 | +15.7% |
| Amounts payable after more than one year | 17 | €45,552 | €37,590 | -€7,962 | -17.5% |
| Financial debts | 170/4 | €45,552 | €37,590 | -€7,962 | -17.5% |
| Amounts payable within one year | 42/48 | €53,230 | €75,961 | +€22,732 | +42.7% |
| Current portion of amounts payable after more than one year | 42 | €7,460 | €7,962 | +€503 | +6.7% |
| Financial debts | 43 | - | €1,999 | +€1,999 | |
| Credit institutions | 430/8 | - | €1,999 | +€1,999 | |
| Trade debts | 44 | €17,022 | €22,288 | +€5,267 | +30.9% |
| Suppliers | 440/4 | €17,022 | €22,288 | +€5,267 | +30.9% |
| Taxes, remuneration and social security | 45 | €28,749 | €43,562 | +€14,814 | +51.5% |
| Taxes | 450/3 | €13,884 | €20,365 | +€6,481 | +46.7% |
| Remuneration and social security | 454/9 | €14,864 | €23,197 | +€8,333 | +56.1% |
| Other amounts payable | 47/48 | - | €149 | +€149 | |
| Accrued charges and deferred income | 492/3 | - | €700 | +€700 | |
| Non-recurring operating income | 76A | - | €2,207 | +€2,207 | |
| Remuneration, social security and pensions | 62 | €97,115 | €182,128 | +€85,013 | +87.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,525 | €9,402 | -€1,123 | -10.7% |
| Other operating charges | 640/8 | €2,152 | €1,860 | -€292 | -13.6% |
| Gross operating margin | 9900 | €86,750 | €223,204 | +€136,454 | +157% |
| Operating profit (loss) | 9901 | -€23,042 | €29,813 | +€52,856 | |
| Financial income | 75/76B | €316 | €1,039 | +€723 | +229% |
| Recurring financial income | 75 | €316 | €1,039 | +€723 | +229% |
| Financial charges | 65/66B | €4,376 | €6,534 | +€2,158 | +49.3% |
| Recurring financial charges | 65 | €4,376 | €6,534 | +€2,158 | +49.3% |
| Profit (loss) for the period before taxes | 9903 | -€27,102 | €24,318 | +€51,421 | |
| Income taxes | 67/77 | €1 | €12 | +€11 | +1,448% |
| Profit (loss) for the period | 9904 | -€27,103 | €24,307 | +€51,410 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,103 | €24,307 | +€51,410 |
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 19 October 2026 via checked.be.