Edel Maex: 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.
Edel Maex
Largest movements
- Receivables within one year +€9,112
up €9,112 (+109.7%), from €8,303 to €17,415
of which Trade receivables: +€9,112
- Cash -€7,670
down €7,670 (-3.4%), from €224,841 to €217,171
mainly Tax, wage and social debts (-€24,420) and Receivables within one year (-€9,112)
- Reserves +€34,545
up €34,545 (+17.7%), from €195,246 to €229,791
- Tax, wage and social debts -€24,420
down €24,420 (-95.3%), from €25,636 to €1,216
- Advances received -€6,000
down €6,000 (-90.5%), from €6,630 to €630
- Other debts -€3,596
down €3,596 (-76.5%), from €4,702 to €1,106
- Gross operating margin -€24,853
down €24,853 (-32.6%), from €76,227 to €51,374
- Taxes -€7,898
down €7,898 (-32.8%), from €24,114 to €16,216
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 | €233,379 | €235,848 | +€2,468 | +1.1% |
| Fixed assets | 21/28 | - | €1,027 | +€1,027 | |
| Tangible fixed assets | 22/27 | - | €1,027 | +€1,027 | |
| Furniture and vehicles | 24 | - | €1,027 | +€1,027 | |
| Current assets | 29/58 | €233,379 | €234,821 | +€1,441 | +0.6% |
| Amounts receivable within one year | 40/41 | €8,303 | €17,415 | +€9,112 | +109.7% |
| Trade receivables | 40 | €7,417 | €16,528 | +€9,112 | +122.9% |
| Other amounts receivable | 41 | €886 | €886 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €224,841 | €217,171 | -€7,670 | -3.4% |
| Deferred charges and accrued income | 490/1 | €235 | €235 | = | 0.0% |
| Total equity and liabilities | 10/49 | €233,379 | €235,848 | +€2,468 | +1.1% |
| Equity | 10/15 | €195,346 | €229,891 | +€34,545 | +17.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €195,246 | €229,791 | +€34,545 | +17.7% |
| Distributable reserves | 133 | €195,246 | €229,791 | +€34,545 | +17.7% |
| Amounts payable | 17/49 | €38,033 | €5,957 | -€32,077 | -84.3% |
| Amounts payable within one year | 42/48 | €38,033 | €5,957 | -€32,077 | -84.3% |
| Trade debts | 44 | €1,065 | €3,005 | +€1,940 | +182.2% |
| Suppliers | 440/4 | €1,065 | €3,005 | +€1,940 | +182.2% |
| Advances received on contracts in progress | 46 | €6,630 | €630 | -€6,000 | -90.5% |
| Taxes, remuneration and social security | 45 | €25,636 | €1,216 | -€24,420 | -95.3% |
| Taxes | 450/3 | €25,636 | €1,216 | -€24,420 | -95.3% |
| Other amounts payable | 47/48 | €4,702 | €1,106 | -€3,596 | -76.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €93 | +€93 | |
| Other operating charges | 640/8 | €574 | €520 | -€55 | -9.5% |
| Gross operating margin | 9900 | €76,227 | €51,374 | -€24,853 | -32.6% |
| Operating profit (loss) | 9901 | €75,652 | €50,761 | -€24,892 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | €75,652 | €50,761 | -€24,892 | -32.9% |
| Income taxes | 67/77 | €24,114 | €16,216 | -€7,898 | -32.8% |
| Profit (loss) for the period | 9904 | €51,538 | €34,545 | -€16,994 | -33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,538 | €34,545 | -€16,994 | -33.0% |
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.