MAY-GROUP: 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-GROUP
Largest movements
- Tangible fixed assets +€447,375
new in 2024: €447,375
- Cash -€61,390
down €61,390 (-40.6%), from €151,328 to €89,938
mainly Investment in fixed assets (net) (-€500,172) and Trade debts (-€51,963)
- Receivables within one year -€26,850
down €26,850 (-6.1%), from €437,972 to €411,122
of which Other amounts receivable: -€26,203
- Debts after one year +€273,139
up €273,139 (+751.0%), from €36,372 to €309,512
- Other debts +€161,372
new in 2024: €161,372
- Trade debts -€51,963
down €51,963 (-84.5%), from €61,482 to €9,518
- Tax, wage and social debts -€48,837
down €48,837 (-53.0%), from €92,065 to €43,228
of which Remuneration and social security: -€28,242
- Current portion of long-term debt +€30,695
new in 2024: €30,695
- Gross operating margin -€66,530
down €66,530 (-9.4%), from €706,471 to €639,941
- Depreciation +€56,138
up €56,138 (+11526.1%), from €487 to €56,625
- Staff costs -€48,796
down €48,796 (-7.9%), from €615,901 to €567,105
- Taxes -€41,007
down €41,007 (-78.3%), from €52,367 to €11,360
- Financial charges +€10,928
up €10,928 (+952.0%), from €1,148 to €12,076
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €596,654 | €953,093 | +€356,438 | +59.7% |
| Fixed assets | 21/28 | €3,828 | €447,375 | +€443,547 | +11586.9% |
| Tangible fixed assets | 22/27 | - | €447,375 | +€447,375 | |
| Land and buildings | 22 | - | €447,375 | +€447,375 | |
| Financial fixed assets | 28 | €3,828 | - | -€3,828 | |
| Current assets | 29/58 | €592,826 | €505,718 | -€87,109 | -14.7% |
| Amounts receivable within one year | 40/41 | €437,972 | €411,122 | -€26,850 | -6.1% |
| Trade receivables | 40 | €175,981 | €175,334 | -€647 | -0.4% |
| Other amounts receivable | 41 | €261,991 | €235,788 | -€26,203 | -10.0% |
| Cash at bank and in hand | 54/58 | €151,328 | €89,938 | -€61,390 | -40.6% |
| Deferred charges and accrued income | 490/1 | €3,526 | €4,658 | +€1,131 | +32.1% |
| Total equity and liabilities | 10/49 | €596,654 | €953,093 | +€356,438 | +59.7% |
| Equity | 10/15 | €406,735 | €398,767 | -€7,968 | -2.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €108,468 | €108,468 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €106,608 | €106,608 | = | 0.0% |
| Profit (loss) carried forward | 14 | €279,667 | €271,699 | -€7,968 | -2.8% |
| Amounts payable | 17/49 | €189,919 | €554,325 | +€364,406 | +191.9% |
| Amounts payable after more than one year | 17 | €36,372 | €309,512 | +€273,139 | +751.0% |
| Financial debts | 170/4 | €36,372 | €309,512 | +€273,139 | +751.0% |
| Amounts payable within one year | 42/48 | €153,546 | €244,814 | +€91,267 | +59.4% |
| Current portion of amounts payable after more than one year | 42 | - | €30,695 | +€30,695 | |
| Trade debts | 44 | €61,482 | €9,518 | -€51,963 | -84.5% |
| Suppliers | 440/4 | €61,482 | €9,518 | -€51,963 | -84.5% |
| Taxes, remuneration and social security | 45 | €92,065 | €43,228 | -€48,837 | -53.0% |
| Taxes | 450/3 | €23,973 | €3,378 | -€20,595 | -85.9% |
| Remuneration and social security | 454/9 | €68,092 | €39,850 | -€28,242 | -41.5% |
| Other amounts payable | 47/48 | - | €161,372 | +€161,372 | |
| Remuneration, social security and pensions | 62 | €615,901 | €567,105 | -€48,796 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €487 | €56,625 | +€56,138 | +11526.1% |
| Other operating charges | 640/8 | €10,744 | €4,714 | -€6,030 | -56.1% |
| Gross operating margin | 9900 | €706,471 | €639,941 | -€66,530 | -9.4% |
| Operating profit (loss) | 9901 | €79,338 | €11,496 | -€67,842 | -85.5% |
| Financial income | 75/76B | €686 | €3,971 | +€3,285 | +478.9% |
| Recurring financial income | 75 | €686 | €3,971 | +€3,285 | +478.9% |
| Financial charges | 65/66B | €1,148 | €12,076 | +€10,928 | +952.0% |
| Recurring financial charges | 65 | €1,148 | €12,076 | +€10,928 | +952.0% |
| Profit (loss) for the period before taxes | 9903 | €78,877 | €3,392 | -€75,485 | -95.7% |
| Income taxes | 67/77 | €52,367 | €11,360 | -€41,007 | -78.3% |
| Profit (loss) for the period | 9904 | €26,509 | -€7,968 | -€34,477 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,509 | -€7,968 | -€34,477 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.