MAORI: 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.
MAORI
Largest movements
- Intangible fixed assets +€12,949
up €12,949 (+2754.5%), from €470 to €13,419
- Receivables within one year +€6,071
up €6,071 (+61.7%), from €9,838 to €15,909
of which Trade receivables: +€4,476
- Cash -€5,901
down €5,901 (-6.3%), from €93,451 to €87,550
mainly Contributions, distributions and other (-€23,958) and Investment in fixed assets (net) (-€19,451)
- Tangible fixed assets -€4,051
down €4,051 (-21.4%), from €18,932 to €14,881
of which Furniture and vehicles: -€3,359
- Deferred charges and accrued income -€3,742
down €3,742 (-46.3%), from €8,091 to €4,349
- Other debts +€15,822
up €15,822 (+316.4%), from €5,000 to €20,822
- Tax, wage and social debts -€5,104
down €5,104 (-44.7%), from €11,418 to €6,314
of which Remuneration and social security: -€6,882
- Reserves -€5,000
down €5,000 (-7.0%), from €71,900 to €66,900
- Profit (loss) carried forward +€4,488
up €4,488 (+6.0%), from €74,475 to €78,963
- Current portion of long-term debt -€2,213
no longer reported in 2026 (was €2,213)
- Gross operating margin +€3,604
up €3,604 (+4.2%), from €85,149 to €88,754
- Staff costs -€2,257
down €2,257 (-4.8%), from €47,124 to €44,867
- Depreciation +€2,209
up €2,209 (+26.5%), from €8,344 to €10,553
- Taxes +€1,989
up €1,989 (+41.9%), from €4,752 to €6,741
- Other operating charges -€1,002
down €1,002 (-21.1%), from €4,756 to €3,754
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €179,126 | €186,007 | +€6,881 | +3.8% |
| Fixed assets | 21/28 | €19,902 | €28,800 | +€8,898 | +44.7% |
| Intangible fixed assets | 21 | €470 | €13,419 | +€12,949 | +2754.5% |
| Tangible fixed assets | 22/27 | €18,932 | €14,881 | -€4,051 | -21.4% |
| Plant, machinery and equipment | 23 | €3,634 | €2,943 | -€692 | -19.0% |
| Furniture and vehicles | 24 | €15,298 | €11,938 | -€3,359 | -22.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €159,224 | €157,207 | -€2,017 | -1.3% |
| Stocks and contracts in progress | 3 | €47,844 | €49,399 | +€1,555 | +3.3% |
| Stocks | 30/36 | €47,844 | €49,399 | +€1,555 | +3.3% |
| Amounts receivable within one year | 40/41 | €9,838 | €15,909 | +€6,071 | +61.7% |
| Trade receivables | 40 | €6,288 | €10,764 | +€4,476 | +71.2% |
| Other amounts receivable | 41 | €3,550 | €5,145 | +€1,595 | +44.9% |
| Cash at bank and in hand | 54/58 | €93,451 | €87,550 | -€5,901 | -6.3% |
| Deferred charges and accrued income | 490/1 | €8,091 | €4,349 | -€3,742 | -46.3% |
| Total equity and liabilities | 10/49 | €179,126 | €186,007 | +€6,881 | +3.8% |
| Equity | 10/15 | €158,770 | €158,257 | -€512 | -0.3% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €71,900 | €66,900 | -€5,000 | -7.0% |
| Distributable reserves | 133 | €71,900 | €66,900 | -€5,000 | -7.0% |
| Profit (loss) carried forward | 14 | €74,475 | €78,963 | +€4,488 | +6.0% |
| Amounts payable | 17/49 | €20,356 | €27,749 | +€7,393 | +36.3% |
| Amounts payable within one year | 42/48 | €20,356 | €27,749 | +€7,393 | +36.3% |
| Current portion of amounts payable after more than one year | 42 | €2,213 | - | -€2,213 | |
| Trade debts | 44 | €1,725 | €614 | -€1,111 | -64.4% |
| Suppliers | 440/4 | €1,725 | €614 | -€1,111 | -64.4% |
| Taxes, remuneration and social security | 45 | €11,418 | €6,314 | -€5,104 | -44.7% |
| Taxes | 450/3 | €1,582 | €3,361 | +€1,778 | +112.4% |
| Remuneration and social security | 454/9 | €9,835 | €2,953 | -€6,882 | -70.0% |
| Other amounts payable | 47/48 | €5,000 | €20,822 | +€15,822 | +316.4% |
| Remuneration, social security and pensions | 62 | €47,124 | €44,867 | -€2,257 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,344 | €10,553 | +€2,209 | +26.5% |
| Other operating charges | 640/8 | €4,756 | €3,754 | -€1,002 | -21.1% |
| Gross operating margin | 9900 | €85,149 | €88,754 | +€3,604 | +4.2% |
| Operating profit (loss) | 9901 | €24,925 | €29,580 | +€4,655 | +18.7% |
| Financial income | 75/76B | €994 | €1,683 | +€690 | +69.4% |
| Recurring financial income | 75 | €994 | €1,683 | +€690 | +69.4% |
| Financial charges | 65/66B | €1,109 | €1,077 | -€32 | -2.9% |
| Recurring financial charges | 65 | €1,109 | €1,077 | -€32 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €24,810 | €30,186 | +€5,376 | +21.7% |
| Income taxes | 67/77 | €4,752 | €6,741 | +€1,989 | +41.9% |
| Profit (loss) for the period | 9904 | €20,058 | €23,445 | +€3,388 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €20,058 | €23,445 | +€3,388 | +16.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.