ETS MAILLARD: 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.
ETS MAILLARD
Largest movements
- Receivables within one year -€6,621
down €6,621 (-73.5%), from €9,011 to €2,390
of which Trade receivables: -€5,171
- Cash -€6,320
down €6,320 (-36.6%), from €17,286 to €10,966
mainly Trade debts (-€10,561) and Other debts (-€6,091)
- Tangible fixed assets -€4,950
down €4,950 (-22.9%), from €21,580 to €16,630
of which Plant, machinery and equipment: -€4,093
- Deferred charges and accrued income +€4,739
up €4,739 (+497.0%), from €954 to €5,693
- Trade debts -€10,561
down €10,561 (-47.4%), from €22,275 to €11,714
- Other debts -€6,091
down €6,091 (-50.9%), from €11,961 to €5,870
- Profit (loss) carried forward +€2,578
up €2,578 (+30.2%), from €8,527 to €11,105
- Tax, wage and social debts +€1,811
up €1,811 (+58.0%), from €3,120 to €4,931
- Depreciation +€2,451
up €2,451 (+39.2%), from €6,252 to €8,703
- Gross operating margin -€2,394
down €2,394 (-12.3%), from €19,441 to €17,047
- Other operating charges +€2,387
up €2,387 (+351.1%), from €680 to €3,067
- Taxes -€2,036
down €2,036 (-67.9%), from €3,000 to €964
- Financial charges +€1,016
up €1,016 (+91.0%), from €1,117 to €2,134
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 | €51,831 | €38,879 | -€12,952 | -25.0% |
| Fixed assets | 21/28 | €21,580 | €16,630 | -€4,950 | -22.9% |
| Tangible fixed assets | 22/27 | €21,580 | €16,630 | -€4,950 | -22.9% |
| Plant, machinery and equipment | 23 | €12,796 | €8,703 | -€4,093 | -32.0% |
| Furniture and vehicles | 24 | €8,785 | €7,927 | -€857 | -9.8% |
| Current assets | 29/58 | €30,251 | €22,249 | -€8,002 | -26.5% |
| Stocks and contracts in progress | 3 | €3,000 | €3,200 | +€200 | +6.7% |
| Stocks | 30/36 | €3,000 | €3,200 | +€200 | +6.7% |
| Amounts receivable within one year | 40/41 | €9,011 | €2,390 | -€6,621 | -73.5% |
| Trade receivables | 40 | €7,561 | €2,390 | -€5,171 | -68.4% |
| Other amounts receivable | 41 | €1,450 | €0 | -€1,450 | -100.0% |
| Cash at bank and in hand | 54/58 | €17,286 | €10,966 | -€6,320 | -36.6% |
| Deferred charges and accrued income | 490/1 | €954 | €5,693 | +€4,739 | +497.0% |
| Total equity and liabilities | 10/49 | €51,831 | €38,879 | -€12,952 | -25.0% |
| Equity | 10/15 | €13,527 | €16,105 | +€2,578 | +19.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,527 | €11,105 | +€2,578 | +30.2% |
| Amounts payable | 17/49 | €38,305 | €22,775 | -€15,530 | -40.5% |
| Amounts payable within one year | 42/48 | €37,565 | €22,516 | -€15,049 | -40.1% |
| Trade debts | 44 | €22,275 | €11,714 | -€10,561 | -47.4% |
| Suppliers | 440/4 | €22,275 | €11,714 | -€10,561 | -47.4% |
| Advances received on contracts in progress | 46 | €208 | €0 | -€208 | -100.0% |
| Taxes, remuneration and social security | 45 | €3,120 | €4,931 | +€1,811 | +58.0% |
| Taxes | 450/3 | €3,120 | €4,931 | +€1,811 | +58.0% |
| Other amounts payable | 47/48 | €11,961 | €5,870 | -€6,091 | -50.9% |
| Accrued charges and deferred income | 492/3 | €740 | €259 | -€481 | -65.0% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,252 | €8,703 | +€2,451 | +39.2% |
| Other operating charges | 640/8 | €680 | €3,067 | +€2,387 | +351.1% |
| Gross operating margin | 9900 | €19,441 | €17,047 | -€2,394 | -12.3% |
| Operating profit (loss) | 9901 | €12,509 | €5,277 | -€7,232 | -57.8% |
| Financial income | 75/76B | €135 | €399 | +€264 | +195.1% |
| Recurring financial income | 75 | €135 | €399 | +€264 | +195.1% |
| Financial charges | 65/66B | €1,117 | €2,134 | +€1,016 | +91.0% |
| Recurring financial charges | 65 | €1,117 | €2,134 | +€1,016 | +91.0% |
| Profit (loss) for the period before taxes | 9903 | €11,527 | €3,542 | -€7,984 | -69.3% |
| Income taxes | 67/77 | €3,000 | €964 | -€2,036 | -67.9% |
| Profit (loss) for the period | 9904 | €8,527 | €2,578 | -€5,948 | -69.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,527 | €2,578 | -€5,948 | -69.8% |
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 12 October 2026 via checked.be.