De Maesschalck: 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 Maesschalck
Largest movements
- Current investments -€2.1m
down €2.1m (-100.0%), from €2.1m to €0
- Receivables within one year +€444,683
up €444,683 (+791.0%), from €56,214 to €500,897
of which Other amounts receivable: +€444,719
- Cash -€249,358
down €249,358 (-70.4%), from €354,035 to €104,677
mainly Other debts (-€2.1m) and Contributions, distributions and other (-€1.0m)
- Other debts -€2.1m
down €2.1m (-69.9%), from €3.1m to €923,590
- Reserves +€259,986
up €259,986 (+30941.5%), from €840 to €260,826
- Tax, wage and social debts -€32,346
down €32,346 (-65.0%), from €49,736 to €17,389
of which Taxes: -€24,565
- Financial income +€73,006
up €73,006 (+5.5%), from €1.3m to €1.4m
- Financial charges +€70,839
up €70,839, from -€21,965 to €48,873
- Gross operating margin -€13,909
down €13,909, from €4,652 to -€9,256
- Taxes +€9,461
up €9,461 (+202.3%), from €4,677 to €14,138
- Depreciation +€4,127
up €4,127 (+17.5%), from €23,606 to €27,732
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 | €3,125,524 | €1,202,214 | -€1.9m | -61.5% |
| Fixed assets | 21/28 | €612,188 | €590,159 | -€22,030 | -3.6% |
| Tangible fixed assets | 22/27 | €511,878 | €489,849 | -€22,030 | -4.3% |
| Land and buildings | 22 | €444,749 | €437,659 | -€7,090 | -1.6% |
| Plant, machinery and equipment | 23 | €5,339 | €6,772 | +€1,433 | +26.8% |
| Furniture and vehicles | 24 | €59,450 | €43,471 | -€15,980 | -26.9% |
| Other tangible fixed assets | 26 | €2,341 | €1,948 | -€393 | -16.8% |
| Financial fixed assets | 28 | €100,310 | €100,310 | = | 0.0% |
| Current assets | 29/58 | €2,513,336 | €612,056 | -€1.9m | -75.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €56,214 | €500,897 | +€444,683 | +791.0% |
| Trade receivables | 40 | €36 | €0 | -€36 | -100.0% |
| Other amounts receivable | 41 | €56,178 | €500,897 | +€444,719 | +791.6% |
| Current investments | 50/53 | €2,096,881 | €0 | -€2.1m | -100.0% |
| Cash at bank and in hand | 54/58 | €354,035 | €104,677 | -€249,358 | -70.4% |
| Deferred charges and accrued income | 490/1 | €6,205 | €6,481 | +€276 | +4.4% |
| Total equity and liabilities | 10/49 | €3,125,524 | €1,202,214 | -€1.9m | -61.5% |
| Equity | 10/15 | €1,056 | €260,826 | +€259,771 | +24603.0% |
| Contributions | 10/11 | €216 | - | -€216 | |
| Reserves | 13 | €840 | €260,826 | +€259,986 | +30941.5% |
| Distributable reserves | 133 | €840 | €260,826 | +€259,986 | +30941.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,124,468 | €941,388 | -€2.2m | -69.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €3,124,468 | €941,388 | -€2.2m | -69.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €8,498 | €408 | -€8,089 | -95.2% |
| Suppliers | 440/4 | €8,498 | €408 | -€8,089 | -95.2% |
| Taxes, remuneration and social security | 45 | €49,736 | €17,389 | -€32,346 | -65.0% |
| Taxes | 450/3 | €37,215 | €12,650 | -€24,565 | -66.0% |
| Remuneration and social security | 454/9 | €12,520 | €4,739 | -€7,781 | -62.1% |
| Other amounts payable | 47/48 | €3,066,235 | €923,590 | -€2.1m | -69.9% |
| Remuneration, social security and pensions | 62 | €37,108 | €38,271 | +€1,163 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,606 | €27,732 | +€4,127 | +17.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €2,657 | €2,685 | +€28 | +1.1% |
| Gross operating margin | 9900 | €4,652 | -€9,256 | -€13,909 | |
| Operating profit (loss) | 9901 | -€58,718 | -€77,944 | -€19,227 | -32.7% |
| Financial income | 75/76B | €1,327,720 | €1,400,726 | +€73,006 | +5.5% |
| Recurring financial income | 75 | €1,327,720 | €1,400,726 | +€73,006 | +5.5% |
| Financial charges | 65/66B | -€21,965 | €48,873 | +€70,839 | |
| Recurring financial charges | 65 | -€21,965 | €48,873 | +€70,839 | |
| Profit (loss) for the period before taxes | 9903 | €1,290,968 | €1,273,909 | -€17,059 | -1.3% |
| Income taxes | 67/77 | €4,677 | €14,138 | +€9,461 | +202.3% |
| Profit (loss) for the period | 9904 | €1,286,291 | €1,259,771 | -€26,520 | -2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,286,291 | €1,259,771 | -€26,520 | -2.1% |
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 10 October 2026 via checked.be.