MAUDE: 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.
What changed
MAUDE
NACE 47.716, Retail sale of clothing and accessories for women, men, children and babies (general range)
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€79,456
2024 · €2,826-€82,282
Equity
-€376,959
2024 · -€297,503-€79,456
Cash
€23,569
2024 · €25,039-€1,470
Balance sheet total
€2.9m
2024 · €2.7m+€209,888
Largest movements
Assets
- Stocks and contracts +€160,159
up €160,159 (+6.3%), from €2.5m to €2.7m
- Deferred charges and accrued income +€29,350
up €29,350 (+73.2%), from €40,078 to €69,428
Equity and liabilities
- Trade debts +€189,126
up €189,126 (+6.6%), from €2.9m to €3.1m
- Other debts +€110,000
new in 2025: €110,000
- Profit (loss) carried forward -€79,456
down €79,456 (-24.8%), from -€320,900 to -€400,356
Income statement
- Gross operating margin -€59,603
down €59,603 (-9.3%), from €639,835 to €580,232
- Staff costs +€18,539
up €18,539 (+3.1%), from €591,922 to €610,461
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.
Result 2024
€2,826
Gross operating margin
-€59,603
Staff costs
-€18,539
Depreciation
-€462
Other operating charges
-€3,873
Financial income
-€121
Financial charges
+€315
Result 2025
-€79,456
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.
From operations
+€10,406
Investment
-€11,877
Financing
€0
Cash 2024
€25,039
From operations (derived)
+€10,406
Net result for the year
-€79,456
Depreciation
+€18,392
Stocks and contracts
-€160,159
Receivables within one year
-€28,364
Deferred charges and accrued income
-€29,350
Trade debts
+€189,126
Tax, wage and social debts
+€13,148
Other debts
+€110,000
Accrued charges and deferred income
-€22,930
Investment (derived)
-€11,877
Investment in fixed assets (net)
-€11,877
Cash 2025
€23,569
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,667,522 | €2,877,411 | +€209,888 | +7.9% |
| Fixed assets | 21/28 | €55,065 | €48,549 | -€6,516 | -11.8% |
| Tangible fixed assets | 22/27 | €54,700 | €48,184 | -€6,516 | -11.9% |
| Plant, machinery and equipment | 23 | €26,446 | €19,437 | -€7,009 | -26.5% |
| Other tangible fixed assets | 26 | €28,254 | €28,747 | +€494 | +1.7% |
| Financial fixed assets | 28 | €365 | €365 | = | 0.0% |
| Current assets | 29/58 | €2,612,458 | €2,828,862 | +€216,404 | +8.3% |
| Stocks and contracts in progress | 3 | €2,545,040 | €2,705,200 | +€160,159 | +6.3% |
| Stocks | 30/36 | €2,545,040 | €2,705,200 | +€160,159 | +6.3% |
| Amounts receivable within one year | 40/41 | €2,301 | €30,665 | +€28,364 | +1232.9% |
| Trade receivables | 40 | €0 | €4,084 | +€4,084 | |
| Other amounts receivable | 41 | €2,301 | €26,581 | +€24,281 | +1055.4% |
| Cash at bank and in hand | 54/58 | €25,039 | €23,569 | -€1,470 | -5.9% |
| Deferred charges and accrued income | 490/1 | €40,078 | €69,428 | +€29,350 | +73.2% |
| Total equity and liabilities | 10/49 | €2,667,522 | €2,877,411 | +€209,888 | +7.9% |
| Equity | 10/15 | -€297,503 | -€376,959 | -€79,456 | -26.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €3,397 | €3,397 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,397 | €3,397 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,397 | €3,397 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€320,900 | -€400,356 | -€79,456 | -24.8% |
| Amounts payable | 17/49 | €2,965,025 | €3,254,369 | +€289,344 | +9.8% |
| Amounts payable within one year | 42/48 | €2,942,095 | €3,254,369 | +€312,274 | +10.6% |
| Trade debts | 44 | €2,870,665 | €3,059,791 | +€189,126 | +6.6% |
| Suppliers | 440/4 | €2,870,665 | €3,059,791 | +€189,126 | +6.6% |
| Taxes, remuneration and social security | 45 | €71,430 | €84,578 | +€13,148 | +18.4% |
| Remuneration and social security | 454/9 | €71,430 | €84,578 | +€13,148 | +18.4% |
| Other amounts payable | 47/48 | - | €110,000 | +€110,000 | |
| Accrued charges and deferred income | 492/3 | €22,930 | €0 | -€22,930 | -100.0% |
| Remuneration, social security and pensions | 62 | €591,922 | €610,461 | +€18,539 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,931 | €18,392 | +€462 | +2.6% |
| Other operating charges | 640/8 | €20,827 | €24,700 | +€3,873 | +18.6% |
| Gross operating margin | 9900 | €639,835 | €580,232 | -€59,603 | -9.3% |
| Operating profit (loss) | 9901 | €9,155 | -€73,321 | -€82,476 | |
| Financial income | 75/76B | €150 | €29 | -€121 | -80.5% |
| Recurring financial income | 75 | €150 | €29 | -€121 | -80.5% |
| Financial charges | 65/66B | €6,480 | €6,165 | -€315 | -4.9% |
| Recurring financial charges | 65 | €6,480 | €6,165 | -€315 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €2,826 | -€79,456 | -€82,282 | |
| Profit (loss) for the period | 9904 | €2,826 | -€79,456 | -€82,282 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,826 | -€79,456 | -€82,282 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.