BOFISC MAESENAERE: 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.
BOFISC MAESENAERE
Largest movements
- Receivables within one year +€5,697
up €5,697 (+12.5%), from €45,646 to €51,342
of which Trade receivables: +€5,246
- Cash -€4,099
down €4,099 (-11.4%), from €35,868 to €31,770
mainly Investment in fixed assets (net) (-€22,826) and Contributions, distributions and other (-€8,561)
- Tangible fixed assets +€2,664
up €2,664 (+5.8%), from €45,869 to €48,533
- Debts after one year +€2,930
up €2,930 (+5.7%), from €51,674 to €54,605
of which Financial debts: +€7,930
- Current portion of long-term debt +€2,635
up €2,635 (+29.3%), from €8,992 to €11,627
- Staff costs +€6,743
new in 2025: €6,743
- Gross operating margin -€4,942
down €4,942 (-10.3%), from €47,946 to €43,004
- Taxes -€2,138
down €2,138 (-29.9%), from €7,164 to €5,025
- Depreciation +€1,263
up €1,263 (+6.7%), from €18,899 to €20,162
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 | €128,926 | €133,805 | +€4,879 | +3.8% |
| Fixed assets | 21/28 | €45,869 | €48,533 | +€2,664 | +5.8% |
| Tangible fixed assets | 22/27 | €45,869 | €48,533 | +€2,664 | +5.8% |
| Furniture and vehicles | 24 | €45,869 | €48,533 | +€2,664 | +5.8% |
| Current assets | 29/58 | €83,057 | €85,273 | +€2,215 | +2.7% |
| Amounts receivable within one year | 40/41 | €45,646 | €51,342 | +€5,697 | +12.5% |
| Trade receivables | 40 | €45,476 | €50,722 | +€5,246 | +11.5% |
| Other amounts receivable | 41 | €169 | €620 | +€451 | +266% |
| Cash at bank and in hand | 54/58 | €35,868 | €31,770 | -€4,099 | -11.4% |
| Deferred charges and accrued income | 490/1 | €1,543 | €2,160 | +€617 | +40.0% |
| Total equity and liabilities | 10/49 | €128,926 | €133,805 | +€4,879 | +3.8% |
| Equity | 10/15 | €51,459 | €51,459 | = | 0.0% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €45,209 | €45,209 | = | 0.0% |
| Distributable reserves | 133 | €45,209 | €45,209 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €77,467 | €82,346 | +€4,879 | +6.3% |
| Amounts payable after more than one year | 17 | €51,674 | €54,605 | +€2,930 | +5.7% |
| Financial debts | 170/4 | €11,674 | €19,605 | +€7,930 | +67.9% |
| Other amounts payable | 178/9 | €40,000 | €35,000 | -€5,000 | -12.5% |
| Amounts payable within one year | 42/48 | €25,793 | €27,741 | +€1,949 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | €8,992 | €11,627 | +€2,635 | +29.3% |
| Trade debts | 44 | €597 | €1,243 | +€647 | +108% |
| Suppliers | 440/4 | €597 | €1,243 | +€647 | +108% |
| Taxes, remuneration and social security | 45 | €15,297 | €14,309 | -€988 | -6.5% |
| Taxes | 450/3 | €15,297 | €13,000 | -€2,297 | -15.0% |
| Remuneration and social security | 454/9 | - | €1,309 | +€1,309 | |
| Other amounts payable | 47/48 | €907 | €562 | -€345 | -38.0% |
| Remuneration, social security and pensions | 62 | - | €6,743 | +€6,743 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,899 | €20,162 | +€1,263 | +6.7% |
| Other operating charges | 640/8 | €950 | €1,372 | +€423 | +44.5% |
| Gross operating margin | 9900 | €47,946 | €43,004 | -€4,942 | -10.3% |
| Operating profit (loss) | 9901 | €28,097 | €14,726 | -€13,371 | -47.6% |
| Financial charges | 65/66B | €845 | €1,139 | +€294 | +34.8% |
| Recurring financial charges | 65 | €845 | €1,139 | +€294 | +34.8% |
| Profit (loss) for the period before taxes | 9903 | €27,252 | €13,586 | -€13,666 | -50.1% |
| Income taxes | 67/77 | €7,164 | €5,025 | -€2,138 | -29.9% |
| Profit (loss) for the period | 9904 | €20,088 | €8,561 | -€11,527 | -57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,088 | €8,561 | -€11,527 | -57.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.