JOHN MAES: 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.
JOHN MAES
Largest movements
- Cash -€153,535
down €153,535 (-66.5%), from €231,050 to €77,515
mainly Current investments (-€144,366) and Investment in fixed assets (net) (-€125,340)
- Current investments +€144,366
up €144,366 (+42.7%), from €338,450 to €482,816
- Tangible fixed assets +€78,598
up €78,598 (+6.1%), from €1.3m to €1.4m
of which Furniture and vehicles: +€100,198
- Reserves +€82,804
up €82,804 (+7.1%), from €1.2m to €1.3m
of which Distributable reserves: +€82,804
- Tax, wage and social debts -€21,848
down €21,848 (-93.7%), from €23,314 to €1,466
- Gross operating margin -€45,018
down €45,018 (-11.1%), from €405,730 to €360,712
- Depreciation -€9,011
down €9,011 (-16.2%), from €55,753 to €46,742
- Taxes +€5,583
up €5,583 (+6.2%), from €90,374 to €95,957
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,893,997 | €1,958,704 | +€64,707 | +3.4% |
| Fixed assets | 21/28 | €1,300,226 | €1,378,824 | +€78,598 | +6.0% |
| Tangible fixed assets | 22/27 | €1,282,726 | €1,361,324 | +€78,598 | +6.1% |
| Land and buildings | 22 | €1,270,388 | €1,236,139 | -€34,248 | -2.7% |
| Plant, machinery and equipment | 23 | €6,678 | €16,114 | +€9,436 | +141.3% |
| Furniture and vehicles | 24 | €5,660 | €105,858 | +€100,198 | +1770.3% |
| Other tangible fixed assets | 26 | - | €3,212 | +€3,212 | |
| Financial fixed assets | 28 | €17,500 | €17,500 | = | 0.0% |
| Current assets | 29/58 | €593,771 | €579,880 | -€13,891 | -2.3% |
| Amounts receivable after more than one year | 29 | - | €11,250 | +€11,250 | |
| Other amounts receivable | 291 | - | €11,250 | +€11,250 | |
| Amounts receivable within one year | 40/41 | €21,625 | €3,692 | -€17,933 | -82.9% |
| Trade receivables | 40 | €4,798 | €975 | -€3,823 | -79.7% |
| Other amounts receivable | 41 | €16,827 | €2,716 | -€14,110 | -83.9% |
| Current investments | 50/53 | €338,450 | €482,816 | +€144,366 | +42.7% |
| Cash at bank and in hand | 54/58 | €231,050 | €77,515 | -€153,535 | -66.5% |
| Deferred charges and accrued income | 490/1 | €2,647 | €4,607 | +€1,961 | +74.1% |
| Total equity and liabilities | 10/49 | €1,893,997 | €1,958,704 | +€64,707 | +3.4% |
| Equity | 10/15 | €1,186,787 | €1,269,591 | +€82,804 | +7.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,168,187 | €1,250,991 | +€82,804 | +7.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,750 | €21,750 | = | 0.0% |
| Distributable reserves | 133 | €1,144,577 | €1,227,381 | +€82,804 | +7.2% |
| Amounts payable | 17/49 | €707,210 | €689,113 | -€18,097 | -2.6% |
| Amounts payable after more than one year | 17 | €589,600 | €580,908 | -€8,692 | -1.5% |
| Financial debts | 170/4 | €589,600 | €580,908 | -€8,692 | -1.5% |
| Amounts payable within one year | 42/48 | €108,375 | €95,243 | -€13,132 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €82,126 | €92,837 | +€10,711 | +13.0% |
| Trade debts | 44 | €2,935 | €941 | -€1,994 | -68.0% |
| Suppliers | 440/4 | €2,935 | €941 | -€1,994 | -68.0% |
| Taxes, remuneration and social security | 45 | €23,314 | €1,466 | -€21,848 | -93.7% |
| Taxes | 450/3 | €23,314 | €1,466 | -€21,848 | -93.7% |
| Accrued charges and deferred income | 492/3 | €9,235 | €12,962 | +€3,727 | +40.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,753 | €46,742 | -€9,011 | -16.2% |
| Other operating charges | 640/8 | €8,244 | €6,429 | -€1,814 | -22.0% |
| Gross operating margin | 9900 | €405,730 | €360,712 | -€45,018 | -11.1% |
| Operating profit (loss) | 9901 | €341,734 | €307,541 | -€34,193 | -10.0% |
| Financial income | 75/76B | €625 | €1,443 | +€818 | +130.8% |
| Recurring financial income | 75 | €625 | €1,443 | +€818 | +130.8% |
| Financial charges | 65/66B | €15,483 | €15,223 | -€261 | -1.7% |
| Recurring financial charges | 65 | €15,483 | €15,223 | -€261 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €326,875 | €293,761 | -€33,115 | -10.1% |
| Income taxes | 67/77 | €90,374 | €95,957 | +€5,583 | +6.2% |
| Profit (loss) for the period | 9904 | €236,501 | €197,804 | -€38,697 | -16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €236,501 | €197,804 | -€38,697 | -16.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.