MAY Agency: 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.
MAY Agency
Largest movements
- Cash +€41,921
up €41,921 (+114%), from €36,694 to €78,615
mainly Net result for the year (+€47,249) and Trade debts (+€2,232)
- Receivables within one year +€2,819
up €2,819 (+32.5%), from €8,681 to €11,500
of which Trade receivables: +€2,266
- Tangible fixed assets -€1,560
down €1,560 (-30.5%), from €5,110 to €3,550
- Reserves +€47,249
up €47,249 (+136%), from €34,659 to €81,909
- Other debts -€6,778
down €6,778 (-99.8%), from €6,791 to €13
- Trade debts +€2,232
up €2,232 (+494%), from €452 to €2,684
- Gross operating margin +€11,268
up €11,268 (+21.2%), from €53,091 to €64,359
- Taxes -€1,552
down €1,552 (-10.5%), from €14,725 to €13,172
- Financial charges +€1,042
up €1,042 (+123%), from €848 to €1,890
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 | €52,527 | €95,532 | +€43,005 | +81.9% |
| Fixed assets | 21/28 | €5,110 | €3,550 | -€1,560 | -30.5% |
| Tangible fixed assets | 22/27 | €5,110 | €3,550 | -€1,560 | -30.5% |
| Furniture and vehicles | 24 | €5,110 | €3,550 | -€1,560 | -30.5% |
| Current assets | 29/58 | €47,417 | €91,982 | +€44,565 | +94.0% |
| Amounts receivable within one year | 40/41 | €8,681 | €11,500 | +€2,819 | +32.5% |
| Trade receivables | 40 | €8,406 | €10,672 | +€2,266 | +27.0% |
| Other amounts receivable | 41 | €275 | €828 | +€552 | +201% |
| Cash at bank and in hand | 54/58 | €36,694 | €78,615 | +€41,921 | +114% |
| Deferred charges and accrued income | 490/1 | €2,041 | €1,867 | -€175 | -8.6% |
| Total equity and liabilities | 10/49 | €52,527 | €95,532 | +€43,005 | +81.9% |
| Equity | 10/15 | €39,659 | €86,909 | +€47,249 | +119% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €34,659 | €81,909 | +€47,249 | +136% |
| Distributable reserves | 133 | €34,659 | €81,909 | +€47,249 | +136% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €12,867 | €8,623 | -€4,244 | -33.0% |
| Amounts payable within one year | 42/48 | €12,845 | €8,623 | -€4,222 | -32.9% |
| Trade debts | 44 | €452 | €2,684 | +€2,232 | +494% |
| Suppliers | 440/4 | €452 | €2,684 | +€2,232 | +494% |
| Taxes, remuneration and social security | 45 | €5,601 | €5,926 | +€324 | +5.8% |
| Taxes | 450/3 | €5,601 | €5,926 | +€324 | +5.8% |
| Other amounts payable | 47/48 | €6,791 | €13 | -€6,778 | -99.8% |
| Accrued charges and deferred income | 492/3 | €23 | €0 | -€23 | -100% |
| Non-recurring operating income | 76A | - | €3,503 | +€3,503 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,266 | €1,560 | +€294 | +23.2% |
| Other operating charges | 640/8 | €735 | €490 | -€245 | -33.3% |
| Gross operating margin | 9900 | €53,091 | €64,359 | +€11,268 | +21.2% |
| Operating profit (loss) | 9901 | €51,090 | €62,309 | +€11,219 | +22.0% |
| Financial income | 75/76B | €1 | €3 | +€2 | +148% |
| Recurring financial income | 75 | €1 | €3 | +€2 | +148% |
| Financial charges | 65/66B | €848 | €1,890 | +€1,042 | +123% |
| Recurring financial charges | 65 | €848 | €1,890 | +€1,042 | +123% |
| Profit (loss) for the period before taxes | 9903 | €50,243 | €60,422 | +€10,179 | +20.3% |
| Income taxes | 67/77 | €14,725 | €13,172 | -€1,552 | -10.5% |
| Profit (loss) for the period | 9904 | €35,518 | €47,249 | +€11,731 | +33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €35,518 | €47,249 | +€11,731 | +33.0% |
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 28 October 2026 via checked.be.