MAY PLACE: 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 PLACE
Largest movements
- Cash -€12,183
down €12,183 (-71.6%), from €17,005 to €4,822
mainly Investment in fixed assets (net) (-€13,253) and Debts after one year (-€6,068)
- Tangible fixed assets +€7,396
up €7,396 (+30.8%), from €24,042 to €31,439
of which Plant, machinery and equipment: +€5,794
- Receivables within one year -€803
down €803 (-13.3%), from €6,060 to €5,256
of which Other amounts receivable: -€5,248
- Debts after one year -€6,068
down €6,068 (-14.7%), from €41,357 to €35,289
- Profit (loss) carried forward -€5,544
down €5,544 (-71.1%), from -€7,797 to -€13,342
- Other debts +€4,803
new in 2025: €4,803
- Current portion of long-term debt +€1,425
up €1,425 (+30.7%), from €4,643 to €6,068
- Trade debts -€1,251
down €1,251 (-32.0%), from €3,904 to €2,653
- Gross operating margin +€9,239
up €9,239, from -€6,769 to €2,470
- Depreciation +€5,611
up €5,611 (+2,283%), from €246 to €5,856
- Financial charges +€1,785
up €1,785 (+7,689%), from €23 to €1,808
- Other operating charges -€372
down €372 (-48.2%), from €772 to €400
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 | €47,107 | €41,517 | -€5,590 | -11.9% |
| Fixed assets | 21/28 | €24,042 | €31,439 | +€7,396 | +30.8% |
| Tangible fixed assets | 22/27 | €24,042 | €31,439 | +€7,396 | +30.8% |
| Plant, machinery and equipment | 23 | €10,580 | €16,375 | +€5,794 | +54.8% |
| Furniture and vehicles | 24 | €13,462 | €15,064 | +€1,602 | +11.9% |
| Current assets | 29/58 | €23,064 | €10,078 | -€12,986 | -56.3% |
| Amounts receivable within one year | 40/41 | €6,060 | €5,256 | -€803 | -13.3% |
| Trade receivables | 40 | €704 | €5,149 | +€4,445 | +631% |
| Other amounts receivable | 41 | €5,356 | €108 | -€5,248 | -98.0% |
| Cash at bank and in hand | 54/58 | €17,005 | €4,822 | -€12,183 | -71.6% |
| Total equity and liabilities | 10/49 | €47,107 | €41,517 | -€5,590 | -11.9% |
| Equity | 10/15 | -€2,797 | -€8,342 | -€5,544 | -198% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,797 | -€13,342 | -€5,544 | -71.1% |
| Amounts payable | 17/49 | €49,904 | €49,858 | -€46 | -0.1% |
| Amounts payable after more than one year | 17 | €41,357 | €35,289 | -€6,068 | -14.7% |
| Financial debts | 170/4 | €41,357 | €35,289 | -€6,068 | -14.7% |
| Amounts payable within one year | 42/48 | €8,547 | €14,570 | +€6,023 | +70.5% |
| Current portion of amounts payable after more than one year | 42 | €4,643 | €6,068 | +€1,425 | +30.7% |
| Trade debts | 44 | €3,904 | €2,653 | -€1,251 | -32.0% |
| Suppliers | 440/4 | €3,904 | €2,653 | -€1,251 | -32.0% |
| Taxes, remuneration and social security | 45 | - | €1,045 | +€1,045 | |
| Taxes | 450/3 | - | €1,045 | +€1,045 | |
| Other amounts payable | 47/48 | - | €4,803 | +€4,803 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €246 | €5,856 | +€5,611 | +2,283% |
| Other operating charges | 640/8 | €772 | €400 | -€372 | -48.2% |
| Gross operating margin | 9900 | -€6,769 | €2,470 | +€9,239 | |
| Operating profit (loss) | 9901 | -€7,787 | -€3,786 | +€4,001 | +51.4% |
| Financial income | 75/76B | €12 | €49 | +€37 | +299% |
| Recurring financial income | 75 | €12 | €49 | +€37 | +299% |
| Financial charges | 65/66B | €23 | €1,808 | +€1,785 | +7,689% |
| Recurring financial charges | 65 | €23 | €1,808 | +€1,785 | +7,689% |
| Profit (loss) for the period before taxes | 9903 | -€7,797 | -€5,544 | +€2,253 | +28.9% |
| Profit (loss) for the period | 9904 | -€7,797 | -€5,544 | +€2,253 | +28.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,797 | -€5,544 | +€2,253 | +28.9% |
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 17 October 2026 via checked.be.