MAOK: 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.
MAOK
Largest movements
- Receivables within one year +€465,000
new in 2025: €465,000
- Tangible fixed assets -€345,843
no longer reported in 2025 (was €345,843)
of which Land and buildings: -€344,883
- Cash +€182,207
up €182,207 (+3964.6%), from €4,596 to €186,803
mainly Investment in fixed assets (net) (+€345,843) and Net result for the year (+€288,554)
- Reserves +€302,716
up €302,716 (+125.6%), from €241,000 to €543,716
of which Tax-exempt reserves: +€302,716
- Provisions +€100,905
new in 2025: €100,905
- Other debts -€40,000
down €40,000 (-99.2%), from €40,315 to €315
- Current portion of long-term debt -€30,840
no longer reported in 2025 (was €30,840)
- Profit (loss) carried forward -€14,163
down €14,163 (-2007.4%), from -€706 to -€14,868
- Gross operating margin +€377,840
up €377,840 (+2493.6%), from €15,152 to €392,993
- Depreciation -€13,285
no longer reported in 2025 (was €13,285)
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 | €350,438 | €651,803 | +€301,364 | +86.0% |
| Fixed assets | 21/28 | €345,843 | - | -€345,843 | |
| Tangible fixed assets | 22/27 | €345,843 | - | -€345,843 | |
| Land and buildings | 22 | €344,883 | - | -€344,883 | |
| Other tangible fixed assets | 26 | €960 | - | -€960 | |
| Current assets | 29/58 | €4,596 | €651,803 | +€647,207 | +14082.4% |
| Amounts receivable within one year | 40/41 | - | €465,000 | +€465,000 | |
| Other amounts receivable | 41 | - | €465,000 | +€465,000 | |
| Cash at bank and in hand | 54/58 | €4,596 | €186,803 | +€182,207 | +3964.6% |
| Total equity and liabilities | 10/49 | €350,438 | €651,803 | +€301,364 | +86.0% |
| Equity | 10/15 | €260,754 | €549,308 | +€288,554 | +110.7% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €241,000 | €543,716 | +€302,716 | +125.6% |
| Tax-exempt reserves | 132 | - | €302,716 | +€302,716 | |
| Distributable reserves | 133 | €241,000 | €241,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€706 | -€14,868 | -€14,163 | -2007.4% |
| Provisions and deferred taxes | 16 | - | €100,905 | +€100,905 | |
| Deferred taxes | 168 | - | €100,905 | +€100,905 | |
| Amounts payable | 17/49 | €89,684 | €1,589 | -€88,095 | -98.2% |
| Amounts payable after more than one year | 17 | €2,835 | - | -€2,835 | |
| Financial debts | 170/4 | €2,835 | - | -€2,835 | |
| Amounts payable within one year | 42/48 | €86,849 | €1,589 | -€85,260 | -98.2% |
| Current portion of amounts payable after more than one year | 42 | €30,840 | - | -€30,840 | |
| Trade debts | 44 | €11,893 | €1,275 | -€10,618 | -89.3% |
| Suppliers | 440/4 | €11,893 | €1,275 | -€10,618 | -89.3% |
| Taxes, remuneration and social security | 45 | €3,801 | - | -€3,801 | |
| Taxes | 450/3 | €3,801 | - | -€3,801 | |
| Other amounts payable | 47/48 | €40,315 | €315 | -€40,000 | -99.2% |
| Non-recurring operating income | 76A | €100 | - | -€100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,285 | - | -€13,285 | |
| Other operating charges | 640/8 | €120 | €532 | +€412 | +343.3% |
| Gross operating margin | 9900 | €15,152 | €392,993 | +€377,840 | +2493.6% |
| Operating profit (loss) | 9901 | €1,747 | €392,461 | +€390,714 | +22364.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €3,594 | €3,002 | -€592 | -16.5% |
| Recurring financial charges | 65 | €3,594 | €3,002 | -€592 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,847 | €389,459 | +€391,306 | |
| Transfer to deferred taxes | 680 | - | €100,905 | +€100,905 | |
| Profit (loss) for the period | 9904 | -€1,847 | €288,554 | +€290,401 | |
| Transfer to tax-exempt reserves | 689 | - | €302,716 | +€302,716 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,847 | -€14,163 | -€12,316 | -666.9% |
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 29 September 2026 via checked.be.