DE MAASNIMF: 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.
DE MAASNIMF
Largest movements
- Formation expenses +€24,986
new in 2025: €24,986
- Tangible fixed assets -€16,121
down €16,121 (-26.7%), from €60,408 to €44,287
of which Plant, machinery and equipment: -€14,115
- Cash +€5,479
up €5,479 (+55.1%), from €9,935 to €15,413
mainly Depreciation (+€20,918) and Other debts (+€12,983)
- Intangible fixed assets -€3,750
down €3,750 (-15.6%), from €23,975 to €20,225
- Other debts +€12,983
up €12,983 (+434%), from €2,992 to €15,974
- Trade debts -€5,591
down €5,591 (-41.3%), from €13,546 to €7,956
- Tax, wage and social debts +€1,418
up €1,418 (+11.7%), from €12,140 to €13,558
of which Taxes: +€2,506
- Gross operating margin -€15,518
down €15,518 (-8.3%), from €186,808 to €171,289
- Staff costs -€5,188
down €5,188 (-3.4%), from €152,890 to €147,702
- Depreciation -€4,469
down €4,469 (-17.6%), from €25,387 to €20,918
- Financial income +€3,451
up €3,451 (+6,288%), from €55 to €3,506
of which Non-recurring financial income: +€3,505
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 | €105,154 | €114,557 | +€9,403 | +8.9% |
| Formation expenses | 20 | - | €24,986 | +€24,986 | |
| Fixed assets | 21/28 | €84,783 | €64,513 | -€20,271 | -23.9% |
| Intangible fixed assets | 21 | €23,975 | €20,225 | -€3,750 | -15.6% |
| Tangible fixed assets | 22/27 | €60,408 | €44,287 | -€16,121 | -26.7% |
| Plant, machinery and equipment | 23 | €48,975 | €34,860 | -€14,115 | -28.8% |
| Furniture and vehicles | 24 | €5,839 | €4,708 | -€1,131 | -19.4% |
| Other tangible fixed assets | 26 | €5,594 | €4,719 | -€875 | -15.6% |
| Financial fixed assets | 28 | €400 | - | -€400 | |
| Current assets | 29/58 | €20,370 | €25,058 | +€4,688 | +23.0% |
| Stocks and contracts in progress | 3 | €1,530 | €1,280 | -€250 | -16.3% |
| Stocks | 30/36 | €1,530 | €1,280 | -€250 | -16.3% |
| Amounts receivable within one year | 40/41 | €1,301 | €497 | -€805 | -61.8% |
| Trade receivables | 40 | €450 | €497 | +€47 | +10.4% |
| Other amounts receivable | 41 | €851 | - | -€851 | |
| Cash at bank and in hand | 54/58 | €9,935 | €15,413 | +€5,479 | +55.1% |
| Deferred charges and accrued income | 490/1 | €7,604 | €7,868 | +€264 | +3.5% |
| Total equity and liabilities | 10/49 | €105,154 | €114,557 | +€9,403 | +8.9% |
| Equity | 10/15 | €31,476 | €31,569 | +€93 | +0.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,476 | €1,569 | +€93 | +6.3% |
| Amounts payable | 17/49 | €73,678 | €82,988 | +€9,310 | +12.6% |
| Amounts payable after more than one year | 17 | €45,000 | €45,000 | = | 0.0% |
| Other amounts payable | 178/9 | €45,000 | €45,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €28,678 | €37,488 | +€8,810 | +30.7% |
| Trade debts | 44 | €13,546 | €7,956 | -€5,591 | -41.3% |
| Suppliers | 440/4 | €13,546 | €7,956 | -€5,591 | -41.3% |
| Taxes, remuneration and social security | 45 | €12,140 | €13,558 | +€1,418 | +11.7% |
| Taxes | 450/3 | - | €2,506 | +€2,506 | |
| Remuneration and social security | 454/9 | €12,140 | €11,052 | -€1,088 | -9.0% |
| Other amounts payable | 47/48 | €2,992 | €15,974 | +€12,983 | +434% |
| Accrued charges and deferred income | 492/3 | - | €500 | +€500 | |
| Remuneration, social security and pensions | 62 | €152,890 | €147,702 | -€5,188 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,387 | €20,918 | -€4,469 | -17.6% |
| Other operating charges | 640/8 | €3,991 | €3,547 | -€444 | -11.1% |
| Gross operating margin | 9900 | €186,808 | €171,289 | -€15,518 | -8.3% |
| Operating profit (loss) | 9901 | €4,539 | -€878 | -€5,417 | |
| Financial income | 75/76B | €55 | €3,506 | +€3,451 | +6,288% |
| Recurring financial income | 75 | €55 | €1 | -€54 | -97.6% |
| Non-recurring financial income | 76B | - | €3,505 | +€3,505 | |
| Financial charges | 65/66B | €3,118 | €2,297 | -€821 | -26.3% |
| Recurring financial charges | 65 | €3,118 | €2,297 | -€821 | -26.3% |
| Profit (loss) for the period before taxes | 9903 | €1,476 | €331 | -€1,145 | -77.6% |
| Income taxes | 67/77 | - | €238 | +€238 | |
| Profit (loss) for the period | 9904 | €1,476 | €93 | -€1,383 | -93.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,476 | €93 | -€1,383 | -93.7% |
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 26 October 2026 via checked.be.