MAY BUSINESS: 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 BUSINESS
Largest movements
- Receivables within one year +€15,351
up €15,351 (+770%), from €1,993 to €17,344
of which Trade receivables: +€17,344
- Stocks and contracts -€5,500
down €5,500 (-71.9%), from €7,651 to €2,151
- Tangible fixed assets -€598
down €598 (-35.5%), from €1,684 to €1,086
- Cash -€512
down €512 (-17.5%), from €2,919 to €2,407
mainly Net result for the year (-€21,506) and Receivables within one year (-€15,351)
- Profit (loss) carried forward -€21,506
down €21,506 (-28.9%), from -€74,523 to -€96,028
- Tax, wage and social debts +€20,490
up €20,490 (+142%), from €14,400 to €34,890
of which Remuneration and social security: +€19,887
- Trade debts +€14,297
up €14,297 (+1,288%), from €1,110 to €15,407
- Other debts -€4,540
down €4,540 (-8.3%), from €54,660 to €50,120
- Gross operating margin +€19,539
up €19,539 (+96.2%), from -€20,305 to -€766
- Staff costs +€15,461
new in 2025: €15,461
- Other operating charges +€3,723
up €3,723 (+910%), from €409 to €4,133
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 | €14,247 | €22,988 | +€8,741 | +61.4% |
| Fixed assets | 21/28 | €1,684 | €1,086 | -€598 | -35.5% |
| Tangible fixed assets | 22/27 | €1,684 | €1,086 | -€598 | -35.5% |
| Plant, machinery and equipment | 23 | €1,684 | €1,086 | -€598 | -35.5% |
| Current assets | 29/58 | €12,563 | €21,902 | +€9,339 | +74.3% |
| Stocks and contracts in progress | 3 | €7,651 | €2,151 | -€5,500 | -71.9% |
| Stocks | 30/36 | €7,651 | €2,151 | -€5,500 | -71.9% |
| Amounts receivable within one year | 40/41 | €1,993 | €17,344 | +€15,351 | +770% |
| Trade receivables | 40 | - | €17,344 | +€17,344 | |
| Other amounts receivable | 41 | €1,993 | - | -€1,993 | |
| Cash at bank and in hand | 54/58 | €2,919 | €2,407 | -€512 | -17.5% |
| Total equity and liabilities | 10/49 | €14,247 | €22,988 | +€8,741 | +61.4% |
| Equity | 10/15 | -€55,923 | -€77,428 | -€21,506 | -38.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€74,523 | -€96,028 | -€21,506 | -28.9% |
| Amounts payable | 17/49 | €70,170 | €100,417 | +€30,247 | +43.1% |
| Amounts payable within one year | 42/48 | €70,170 | €100,417 | +€30,247 | +43.1% |
| Trade debts | 44 | €1,110 | €15,407 | +€14,297 | +1,288% |
| Suppliers | 440/4 | €1,110 | €15,407 | +€14,297 | +1,288% |
| Taxes, remuneration and social security | 45 | €14,400 | €34,890 | +€20,490 | +142% |
| Taxes | 450/3 | - | €603 | +€603 | |
| Remuneration and social security | 454/9 | €14,400 | €34,287 | +€19,887 | +138% |
| Other amounts payable | 47/48 | €54,660 | €50,120 | -€4,540 | -8.3% |
| Remuneration, social security and pensions | 62 | - | €15,461 | +€15,461 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €598 | €598 | = | 0.0% |
| Other operating charges | 640/8 | €409 | €4,133 | +€3,723 | +910% |
| Non-recurring operating charges | 66A | - | €335 | +€335 | |
| Gross operating margin | 9900 | -€20,305 | -€766 | +€19,539 | +96.2% |
| Operating profit (loss) | 9901 | -€21,312 | -€21,292 | +€20 | +0.1% |
| Financial charges | 65/66B | €178 | €214 | +€36 | +20.2% |
| Recurring financial charges | 65 | €178 | €214 | +€36 | +20.2% |
| Profit (loss) for the period before taxes | 9903 | -€21,490 | -€21,506 | -€16 | -0.1% |
| Profit (loss) for the period | 9904 | -€21,490 | -€21,506 | -€16 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,490 | -€21,506 | -€16 | -0.1% |
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 29 October 2026 via checked.be.