MC MAES: 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.
MC MAES
Largest movements
- Tangible fixed assets -€1,991
down €1,991 (-55.3%), from €3,597 to €1,607
- Deferred charges and accrued income +€1,277
up €1,277 (+62.9%), from €2,030 to €3,307
- Receivables within one year -€1,172
down €1,172 (-4.9%), from €24,032 to €22,860
of which Trade receivables: -€3,353
- Trade debts -€7,152
down €7,152 (-68.0%), from €10,518 to €3,366
- Tax, wage and social debts +€4,026
up €4,026 (+2312.9%), from €174 to €4,200
- Other debts +€2,063
up €2,063 (+27.2%), from €7,584 to €9,647
- Gross operating margin -€7,328
down €7,328 (-65.6%), from €11,166 to €3,838
- Depreciation -€3,289
down €3,289 (-62.3%), from €5,279 to €1,991
- Taxes -€621
down €621 (-55.0%), from €1,128 to €508
- Financial charges -€560
down €560 (-72.0%), from €777 to €217
- Other operating charges +€517
up €517 (+52.0%), from €996 to €1,513
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €72,984 | €71,548 | -€1,436 | -2.0% |
| Fixed assets | 21/28 | €3,637 | €1,647 | -€1,991 | -54.7% |
| Tangible fixed assets | 22/27 | €3,597 | €1,607 | -€1,991 | -55.3% |
| Plant, machinery and equipment | 23 | €3,597 | €1,607 | -€1,991 | -55.3% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €69,347 | €69,901 | +€554 | +0.8% |
| Amounts receivable within one year | 40/41 | €24,032 | €22,860 | -€1,172 | -4.9% |
| Trade receivables | 40 | €23,141 | €19,787 | -€3,353 | -14.5% |
| Other amounts receivable | 41 | €892 | €3,072 | +€2,181 | +244.6% |
| Cash at bank and in hand | 54/58 | €43,285 | €43,735 | +€450 | +1.0% |
| Deferred charges and accrued income | 490/1 | €2,030 | €3,307 | +€1,277 | +62.9% |
| Total equity and liabilities | 10/49 | €72,984 | €71,548 | -€1,436 | -2.0% |
| Equity | 10/15 | €54,708 | €54,336 | -€373 | -0.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €34,708 | €34,336 | -€373 | -1.1% |
| Distributable reserves | 133 | €34,708 | €34,336 | -€373 | -1.1% |
| Amounts payable | 17/49 | €18,276 | €17,212 | -€1,063 | -5.8% |
| Amounts payable within one year | 42/48 | €18,276 | €17,212 | -€1,063 | -5.8% |
| Trade debts | 44 | €10,518 | €3,366 | -€7,152 | -68.0% |
| Suppliers | 440/4 | €10,518 | €3,366 | -€7,152 | -68.0% |
| Taxes, remuneration and social security | 45 | €174 | €4,200 | +€4,026 | +2312.9% |
| Taxes | 450/3 | €174 | €4,200 | +€4,026 | +2312.9% |
| Other amounts payable | 47/48 | €7,584 | €9,647 | +€2,063 | +27.2% |
| Non-recurring operating income | 76A | €749 | - | -€749 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,279 | €1,991 | -€3,289 | -62.3% |
| Other operating charges | 640/8 | €996 | €1,513 | +€517 | +52.0% |
| Gross operating margin | 9900 | €11,166 | €3,838 | -€7,328 | -65.6% |
| Operating profit (loss) | 9901 | €4,891 | €334 | -€4,557 | -93.2% |
| Financial income | 75/76B | €8 | €18 | +€10 | +115.7% |
| Recurring financial income | 75 | €8 | €18 | +€10 | +115.7% |
| Financial charges | 65/66B | €777 | €217 | -€560 | -72.0% |
| Recurring financial charges | 65 | €777 | €217 | -€560 | -72.0% |
| Profit (loss) for the period before taxes | 9903 | €4,122 | €135 | -€3,987 | -96.7% |
| Income taxes | 67/77 | €1,128 | €508 | -€621 | -55.0% |
| Profit (loss) for the period | 9904 | €2,994 | -€373 | -€3,367 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,994 | -€373 | -€3,367 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.