CONSTRUCT MAES STEFAAN: 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.
CONSTRUCT MAES STEFAAN
Largest movements
- Tangible fixed assets -€3,917
down €3,917 (-24.8%), from €15,804 to €11,887
- Receivables within one year +€3,423
up €3,423 (+8.4%), from €40,585 to €44,008
of which Trade receivables: +€6,362
- Cash +€2,814
up €2,814 (+2,953%), from €95 to €2,910
mainly Other debts (+€42,061) and Net result for the year (+€4,228)
- Debts after one year -€45,000
down €45,000 (-100%), from €45,000 to €0
- Other debts +€42,061
new in 2025: €42,061
- Reserves +€2,907
up €2,907 (+65.5%), from €4,438 to €7,345
- Profit (loss) carried forward +€1,644
up €1,644, from -€1,644 to €0
- Tax, wage and social debts +€1,368
up €1,368 (+501%), from €273 to €1,641
- Gross operating margin +€8,355
up €8,355 (+502%), from €1,664 to €10,019
- Depreciation +€3,917
new in 2025: €3,917
- Taxes +€883
new in 2025: €883
- Other operating charges +€406
up €406 (+105%), from €387 to €794
- Financial income -€159
down €159 (-100%), from €159 to €0
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 | €67,327 | €69,648 | +€2,321 | +3.4% |
| Fixed assets | 21/28 | €15,804 | €11,887 | -€3,917 | -24.8% |
| Tangible fixed assets | 22/27 | €15,804 | €11,887 | -€3,917 | -24.8% |
| Plant, machinery and equipment | 23 | €15,804 | €11,887 | -€3,917 | -24.8% |
| Current assets | 29/58 | €51,524 | €57,761 | +€6,238 | +12.1% |
| Stocks and contracts in progress | 3 | €10,844 | €10,844 | = | 0.0% |
| Stocks | 30/36 | €10,844 | €10,844 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €40,585 | €44,008 | +€3,423 | +8.4% |
| Trade receivables | 40 | €37,646 | €44,008 | +€6,362 | +16.9% |
| Other amounts receivable | 41 | €2,939 | €0 | -€2,939 | -100% |
| Cash at bank and in hand | 54/58 | €95 | €2,910 | +€2,814 | +2,953% |
| Total equity and liabilities | 10/49 | €67,327 | €69,648 | +€2,321 | +3.4% |
| Equity | 10/15 | €21,667 | €25,895 | +€4,228 | +19.5% |
| Contributions | 10/11 | €18,873 | €18,550 | -€323 | -1.7% |
| Reserves | 13 | €4,438 | €7,345 | +€2,907 | +65.5% |
| Distributable reserves | 133 | €4,438 | €7,345 | +€2,907 | +65.5% |
| Profit (loss) carried forward | 14 | -€1,644 | €0 | +€1,644 | |
| Amounts payable | 17/49 | €45,660 | €43,753 | -€1,908 | -4.2% |
| Amounts payable after more than one year | 17 | €45,000 | €0 | -€45,000 | -100% |
| Financial debts | 170/4 | €45,000 | €0 | -€45,000 | -100% |
| Amounts payable within one year | 42/48 | €660 | €43,753 | +€43,092 | +6,526% |
| Trade debts | 44 | €387 | €50 | -€337 | -87.0% |
| Suppliers | 440/4 | €387 | €50 | -€337 | -87.0% |
| Taxes, remuneration and social security | 45 | €273 | €1,641 | +€1,368 | +501% |
| Taxes | 450/3 | €273 | €1,641 | +€1,368 | +501% |
| Other amounts payable | 47/48 | - | €42,061 | +€42,061 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,917 | +€3,917 | |
| Other operating charges | 640/8 | €387 | €794 | +€406 | +105% |
| Gross operating margin | 9900 | €1,664 | €10,019 | +€8,355 | +502% |
| Operating profit (loss) | 9901 | €1,277 | €5,309 | +€4,032 | +316% |
| Financial income | 75/76B | €159 | €0 | -€159 | -100% |
| Recurring financial income | 75 | €159 | €0 | -€159 | -100% |
| Financial charges | 65/66B | €167 | €197 | +€30 | +18.2% |
| Recurring financial charges | 65 | €167 | €197 | +€30 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | €1,269 | €5,112 | +€3,843 | +303% |
| Income taxes | 67/77 | - | €883 | +€883 | |
| Profit (loss) for the period | 9904 | €1,269 | €4,228 | +€2,960 | +233% |
| Profit (loss) for the period to be appropriated | 9905 | €1,269 | €4,228 | +€2,960 | +233% |
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 20 October 2026 via checked.be.