De Maesschalck: what changed
Two fiscal 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 Maesschalck
Largest movements
- Cash -€16,537
down €16,537 (-20.0%), from €82,872 to €66,335
mainly Net result for the year (-€24,087) and Receivables within one year (-€12,253)
- Receivables within one year +€12,253
up €12,253 (+2.4%), from €506,075 to €518,327
of which Trade receivables: +€13,898
- Tangible fixed assets -€11,210
down €11,210 (-3.7%), from €299,728 to €288,518
of which Land and buildings: -€9,964
- Reserves -€24,087
down €24,087 (-4.8%), from €498,519 to €474,432
of which Distributable reserves: -€24,087
- Trade debts +€10,303
up €10,303 (+1096.9%), from €939 to €11,243
- Depreciation -€2,221
down €2,221 (-23.7%), from €9,371 to €7,149
- Gross operating margin -€1,994
down €1,994 (-19.1%), from -€10,423 to -€12,417
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.
Cash bridge derived
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 | €890,264 | €874,688 | -€15,576 | -1.7% |
| Fixed assets | 21/28 | €299,728 | €288,518 | -€11,210 | -3.7% |
| Tangible fixed assets | 22/27 | €299,728 | €288,518 | -€11,210 | -3.7% |
| Land and buildings | 22 | €298,482 | €288,518 | -€9,964 | -3.3% |
| Plant, machinery and equipment | 23 | €1,246 | €0 | -€1,246 | -100.0% |
| Current assets | 29/58 | €590,536 | €586,170 | -€4,366 | -0.7% |
| Amounts receivable within one year | 40/41 | €506,075 | €518,327 | +€12,253 | +2.4% |
| Trade receivables | 40 | €7,334 | €21,232 | +€13,898 | +189.5% |
| Other amounts receivable | 41 | €498,740 | €497,095 | -€1,645 | -0.3% |
| Cash at bank and in hand | 54/58 | €82,872 | €66,335 | -€16,537 | -20.0% |
| Deferred charges and accrued income | 490/1 | €1,589 | €1,508 | -€81 | -5.1% |
| Total equity and liabilities | 10/49 | €890,264 | €874,688 | -€15,576 | -1.7% |
| Equity | 10/15 | €886,124 | €862,037 | -€24,087 | -2.7% |
| Contributions | 10/11 | €387,605 | €387,605 | = | 0.0% |
| Reserves | 13 | €498,519 | €474,432 | -€24,087 | -4.8% |
| Non-distributable reserves | 130/1 | €3,997 | €3,997 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,997 | €3,997 | = | 0.0% |
| Tax-exempt reserves | 132 | €25,596 | €25,596 | = | 0.0% |
| Distributable reserves | 133 | €468,925 | €444,838 | -€24,087 | -5.1% |
| Amounts payable | 17/49 | €4,140 | €12,651 | +€8,511 | +205.6% |
| Amounts payable within one year | 42/48 | €3,590 | €12,101 | +€8,511 | +237.1% |
| Trade debts | 44 | €939 | €11,243 | +€10,303 | +1096.9% |
| Suppliers | 440/4 | €939 | €11,243 | +€10,303 | +1096.9% |
| Taxes, remuneration and social security | 45 | €70 | €0 | -€70 | -100.0% |
| Taxes | 450/3 | €70 | €0 | -€70 | -100.0% |
| Other amounts payable | 47/48 | €2,580 | €858 | -€1,722 | -66.7% |
| Accrued charges and deferred income | 492/3 | €550 | €550 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,371 | €7,149 | -€2,221 | -23.7% |
| Other operating charges | 640/8 | €4,466 | €4,473 | +€7 | +0.2% |
| Gross operating margin | 9900 | -€10,423 | -€12,417 | -€1,994 | -19.1% |
| Operating profit (loss) | 9901 | -€24,259 | -€24,039 | +€221 | +0.9% |
| Financial income | 75/76B | €2 | €0 | -€2 | -99.5% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -99.5% |
| Financial charges | 65/66B | €45 | €49 | +€4 | +7.8% |
| Recurring financial charges | 65 | €45 | €49 | +€4 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | -€24,302 | -€24,087 | +€215 | +0.9% |
| Profit (loss) for the period | 9904 | -€24,302 | -€24,087 | +€215 | +0.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,302 | -€24,087 | +€215 | +0.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.