HOLDING MAESTRO: 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.
HOLDING MAESTRO
Largest movements
- Tangible fixed assets +€67,683
up €67,683 (+2,355%), from €2,875 to €70,558
of which Furniture and vehicles: +€68,221
- Reserves +€80,000
up €80,000 (+55.0%), from €145,358 to €225,358
of which Distributable reserves: +€75,950
- Other debts -€43,045
down €43,045 (-97.9%), from €43,981 to €936
- Gross operating margin -€15,039
down €15,039, from €11,290 to -€3,748
- Financial income -€14,719
down €14,719 (-11.5%), from €127,790 to €113,071
- Depreciation +€14,446
up €14,446 (+2,316%), from €624 to €15,070
- Taxes -€10,036
down €10,036 (-47.8%), from €20,992 to €10,956
- Other operating charges -€2,841
down €2,841 (-57.4%), from €4,947 to €2,106
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 | €3,900,101 | €3,920,063 | +€19,962 | +0.5% |
| Fixed assets | 21/28 | €3,739,885 | €3,807,569 | +€67,683 | +1.8% |
| Tangible fixed assets | 22/27 | €2,875 | €70,558 | +€67,683 | +2,355% |
| Plant, machinery and equipment | 23 | €2,640 | €2,102 | -€538 | -20.4% |
| Furniture and vehicles | 24 | €235 | €68,456 | +€68,221 | +29,021% |
| Financial fixed assets | 28 | €3,737,011 | €3,737,011 | = | 0.0% |
| Current assets | 29/58 | €160,216 | €112,494 | -€47,721 | -29.8% |
| Amounts receivable within one year | 40/41 | €21,057 | - | -€21,057 | |
| Trade receivables | 40 | €2,283 | - | -€2,283 | |
| Other amounts receivable | 41 | €18,774 | - | -€18,774 | |
| Cash at bank and in hand | 54/58 | €139,159 | €112,306 | -€26,853 | -19.3% |
| Deferred charges and accrued income | 490/1 | - | €189 | +€189 | |
| Total equity and liabilities | 10/49 | €3,900,101 | €3,920,063 | +€19,962 | +0.5% |
| Equity | 10/15 | €3,665,931 | €3,747,023 | +€81,092 | +2.2% |
| Contributions | 10/11 | €2,986,566 | €2,986,566 | = | 0.0% |
| Capital | 10 | €2,986,566 | €2,986,566 | = | 0.0% |
| Issued capital | 100 | €2,986,566 | €2,986,566 | = | 0.0% |
| Reserves | 13 | €145,358 | €225,358 | +€80,000 | +55.0% |
| Non-distributable reserves | 130/1 | €38,628 | €42,678 | +€4,050 | +10.5% |
| Legal reserve | 130 | €38,628 | €42,678 | +€4,050 | +10.5% |
| Distributable reserves | 133 | €106,730 | €182,680 | +€75,950 | +71.2% |
| Profit (loss) carried forward | 14 | €534,007 | €535,099 | +€1,092 | +0.2% |
| Amounts payable | 17/49 | €234,170 | €173,040 | -€61,130 | -26.1% |
| Amounts payable after more than one year | 17 | €165,000 | €165,000 | = | 0.0% |
| Other amounts payable | 178/9 | €165,000 | €165,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €69,170 | €8,040 | -€61,130 | -88.4% |
| Trade debts | 44 | - | €741 | +€741 | |
| Suppliers | 440/4 | - | €741 | +€741 | |
| Taxes, remuneration and social security | 45 | €25,189 | €6,363 | -€18,826 | -74.7% |
| Taxes | 450/3 | €25,189 | €6,363 | -€18,826 | -74.7% |
| Other amounts payable | 47/48 | €43,981 | €936 | -€43,045 | -97.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €624 | €15,070 | +€14,446 | +2,316% |
| Other operating charges | 640/8 | €4,947 | €2,106 | -€2,841 | -57.4% |
| Gross operating margin | 9900 | €11,290 | -€3,748 | -€15,039 | |
| Operating profit (loss) | 9901 | €5,720 | -€20,925 | -€26,645 | |
| Financial income | 75/76B | €127,790 | €113,071 | -€14,719 | -11.5% |
| Recurring financial income | 75 | €127,790 | €113,071 | -€14,719 | -11.5% |
| Financial charges | 65/66B | €157 | €98 | -€59 | -37.3% |
| Recurring financial charges | 65 | €157 | €98 | -€59 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €133,353 | €92,048 | -€41,305 | -31.0% |
| Income taxes | 67/77 | €20,992 | €10,956 | -€10,036 | -47.8% |
| Profit (loss) for the period | 9904 | €112,361 | €81,092 | -€31,269 | -27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €112,361 | €81,092 | -€31,269 | -27.8% |
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 16 October 2026 via checked.be.