MAAT: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
MAAT
Largest movements
- Tangible fixed assets -€4,486
down €4,486 (-1.4%), from €323,942 to €319,456
- Debts after one year -€9,099
down €9,099 (-3.4%), from €267,842 to €258,743
- Short-term financial debts +€4,045
new in 2025: €4,045
- Profit (loss) carried forward -€3,461
down €3,461 (-32.3%), from -€10,708 to -€14,169
- Gross operating margin +€13,073
up €13,073 (+145%), from €8,989 to €22,062
- Financial charges +€8,865
up €8,865 (+154%), from €5,752 to €14,617
- Turnover +€7,890
up €7,890 (+71.1%), from €11,100 to €18,990
- Depreciation -€5,032
down €5,032 (-37.1%), from €13,558 to €8,526
- Other operating charges +€1,993
up €1,993 (+515%), from €387 to €2,380
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €324,172 | €319,456 | -€4,716 | -1.5% |
| Fixed assets | 21/28 | €323,942 | €319,456 | -€4,486 | -1.4% |
| Tangible fixed assets | 22/27 | €323,942 | €319,456 | -€4,486 | -1.4% |
| Land and buildings | 22 | €323,942 | €319,456 | -€4,486 | -1.4% |
| Current assets | 29/58 | €230 | - | -€230 | |
| Cash at bank and in hand | 54/58 | €230 | - | -€230 | |
| Total equity and liabilities | 10/49 | €324,172 | €319,456 | -€4,716 | -1.5% |
| Equity | 10/15 | -€5,708 | -€9,169 | -€3,461 | -60.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,708 | -€14,169 | -€3,461 | -32.3% |
| Amounts payable | 17/49 | €329,880 | €328,625 | -€1,255 | -0.4% |
| Amounts payable after more than one year | 17 | €267,842 | €258,743 | -€9,099 | -3.4% |
| Financial debts | 170/4 | €267,842 | €258,743 | -€9,099 | -3.4% |
| Amounts payable within one year | 42/48 | €62,038 | €69,882 | +€7,844 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €9,372 | €9,838 | +€466 | +5.0% |
| Financial debts | 43 | - | €4,045 | +€4,045 | |
| Other loans | 439 | - | €4,045 | +€4,045 | |
| Trade debts | 44 | - | €3,038 | +€3,038 | |
| Suppliers | 440/4 | - | €3,038 | +€3,038 | |
| Other amounts payable | 47/48 | €52,666 | €52,961 | +€295 | +0.6% |
| Turnover | 70 | €11,100 | €18,990 | +€7,890 | +71.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,110 | €1,794 | -€316 | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,558 | €8,526 | -€5,032 | -37.1% |
| Other operating charges | 640/8 | €387 | €2,380 | +€1,993 | +515% |
| Gross operating margin | 9900 | €8,989 | €22,062 | +€13,073 | +145% |
| Operating profit (loss) | 9901 | -€4,956 | €11,156 | +€16,112 | |
| Financial charges | 65/66B | €5,752 | €14,617 | +€8,865 | +154% |
| Recurring financial charges | 65 | €5,752 | €14,617 | +€8,865 | +154% |
| Profit (loss) for the period before taxes | 9903 | -€10,708 | -€3,461 | +€7,247 | +67.7% |
| Profit (loss) for the period | 9904 | -€10,708 | -€3,461 | +€7,247 | +67.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,708 | -€3,461 | +€7,247 | +67.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.