C.P.E. MAES: 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.
C.P.E. MAES
Largest movements
- Cash +€23,575
up €23,575 (+5,466%), from €431 to €24,007
mainly Trade debts (+€24,510) and Investment in fixed assets (net) (+€21,043)
- Tangible fixed assets -€22,405
down €22,405 (-73.3%), from €30,575 to €8,170
of which Furniture and vehicles: -€21,043
- Receivables within one year +€11,587
up €11,587 (+5.6%), from €206,063 to €217,651
of which Trade receivables: +€18,450
- Trade debts +€24,510
up €24,510 (+133%), from €18,384 to €42,893
- Short-term financial debts -€16,196
no longer reported in 2025 (was €16,196)
- Reserves +€6,740
up €6,740 (+4.0%), from €169,745 to €176,485
of which Distributable reserves: +€6,740
- Gross operating margin +€22,784
up €22,784 (+63.0%), from €36,186 to €58,969
- Depreciation -€9,123
down €9,123 (-87.0%), from €10,485 to €1,362
- Staff costs +€6,990
up €6,990 (+20.8%), from €33,599 to €40,589
- Financial charges -€6,199
down €6,199 (-72.7%), from €8,525 to €2,327
- Provisions +€3,572
new in 2025: €3,572
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 | €255,516 | €268,415 | +€12,899 | +5.0% |
| Fixed assets | 21/28 | €30,575 | €8,170 | -€22,405 | -73.3% |
| Tangible fixed assets | 22/27 | €30,575 | €8,170 | -€22,405 | -73.3% |
| Plant, machinery and equipment | 23 | €9,531 | €8,170 | -€1,362 | -14.3% |
| Furniture and vehicles | 24 | €21,043 | €0 | -€21,043 | -100% |
| Current assets | 29/58 | €224,941 | €260,245 | +€35,304 | +15.7% |
| Stocks and contracts in progress | 3 | €17,446 | €17,588 | +€142 | +0.8% |
| Stocks | 30/36 | €17,446 | €17,588 | +€142 | +0.8% |
| Amounts receivable within one year | 40/41 | €206,063 | €217,651 | +€11,587 | +5.6% |
| Trade receivables | 40 | €134,021 | €152,471 | +€18,450 | +13.8% |
| Other amounts receivable | 41 | €72,042 | €65,180 | -€6,862 | -9.5% |
| Cash at bank and in hand | 54/58 | €431 | €24,007 | +€23,575 | +5,466% |
| Deferred charges and accrued income | 490/1 | €1,000 | €1,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €255,516 | €268,415 | +€12,899 | +5.0% |
| Equity | 10/15 | €188,337 | €195,077 | +€6,740 | +3.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | - | €18,592 | +€18,592 | |
| Issued capital | 100 | - | €18,592 | +€18,592 | |
| Reserves | 13 | €169,745 | €176,485 | +€6,740 | +4.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | - | €1,859 | +€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €167,886 | €174,626 | +€6,740 | +4.0% |
| Amounts payable | 17/49 | €67,179 | €73,338 | +€6,160 | +9.2% |
| Amounts payable within one year | 42/48 | €67,179 | €73,338 | +€6,160 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | - | €0 | = | |
| Financial debts | 43 | €16,196 | - | -€16,196 | |
| Credit institutions | 430/8 | €16,196 | - | -€16,196 | |
| Trade debts | 44 | €18,384 | €42,893 | +€24,510 | +133% |
| Suppliers | 440/4 | €18,384 | €42,893 | +€24,510 | +133% |
| Taxes, remuneration and social security | 45 | €557 | €445 | -€112 | -20.1% |
| Taxes | 450/3 | €557 | €445 | -€112 | -20.1% |
| Other amounts payable | 47/48 | €32,042 | €30,000 | -€2,042 | -6.4% |
| Remuneration, social security and pensions | 62 | €33,599 | €40,589 | +€6,990 | +20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,485 | €1,362 | -€9,123 | -87.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €3,572 | +€3,572 | |
| Other operating charges | 640/8 | €2,250 | €4,158 | +€1,908 | +84.8% |
| Gross operating margin | 9900 | €36,186 | €58,969 | +€22,784 | +63.0% |
| Operating profit (loss) | 9901 | -€10,149 | €9,289 | +€19,438 | |
| Financial charges | 65/66B | €8,525 | €2,327 | -€6,199 | -72.7% |
| Recurring financial charges | 65 | €8,525 | €2,327 | -€6,199 | -72.7% |
| Profit (loss) for the period before taxes | 9903 | -€18,674 | €6,962 | +€25,636 | |
| Income taxes | 67/77 | €223 | €223 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€18,897 | €6,740 | +€25,636 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,897 | €6,740 | +€25,636 |
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 14 October 2026 via checked.be.