JOS MAES CONSULT: 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.
JOS MAES CONSULT
Largest movements
- Cash -€2.5m
down €2.5m (-98.0%), from €2.5m to €49,460
mainly Current investments (-€2.2m) and Tax, wage and social debts (-€174,441)
- Current investments +€2.2m
up €2.2m (+1,619%), from €132,881 to €2.3m
- Tax, wage and social debts -€174,441
down €174,441 (-98.6%), from €176,841 to €2,401
- Reserves -€92,240
down €92,240 (-3.8%), from €2.4m to €2.3m
of which Distributable reserves: -€92,240
- Trade debts -€29,525
down €29,525 (-88.9%), from €33,218 to €3,693
- Financial income -€2.1m
down €2.1m (-96.6%), from €2.1m to €72,809
- Taxes -€185,603
down €185,603 (-92.0%), from €201,729 to €16,127
- Gross operating margin -€32,897
down €32,897 (-65.9%), from €49,904 to €17,007
- Financial charges +€9,406
up €9,406 (+144%), from €6,549 to €15,955
- Depreciation +€1,382
up €1,382 (+7.1%), from €19,402 to €20,784
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 | €2,733,759 | €2,406,622 | -€327,137 | -12.0% |
| Fixed assets | 21/28 | €65,779 | €70,010 | +€4,231 | +6.4% |
| Tangible fixed assets | 22/27 | €65,779 | €70,010 | +€4,231 | +6.4% |
| Plant, machinery and equipment | 23 | €9,053 | €29,999 | +€20,947 | +231% |
| Furniture and vehicles | 24 | €56,726 | €40,011 | -€16,715 | -29.5% |
| Current assets | 29/58 | €2,667,980 | €2,336,612 | -€331,368 | -12.4% |
| Amounts receivable within one year | 40/41 | - | €2,847 | +€2,847 | |
| Trade receivables | 40 | - | €1,938 | +€1,938 | |
| Other amounts receivable | 41 | - | €909 | +€909 | |
| Current investments | 50/53 | €132,881 | €2,284,305 | +€2.2m | +1,619% |
| Cash at bank and in hand | 54/58 | €2,532,367 | €49,460 | -€2.5m | -98.0% |
| Deferred charges and accrued income | 490/1 | €2,732 | - | -€2,732 | |
| Total equity and liabilities | 10/49 | €2,733,759 | €2,406,622 | -€327,137 | -12.0% |
| Equity | 10/15 | €2,428,498 | €2,336,258 | -€92,240 | -3.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,409,898 | €2,317,658 | -€92,240 | -3.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €2,408,038 | €2,315,798 | -€92,240 | -3.8% |
| Amounts payable | 17/49 | €305,261 | €70,364 | -€234,897 | -76.9% |
| Amounts payable after more than one year | 17 | €26,430 | €7,875 | -€18,556 | -70.2% |
| Financial debts | 170/4 | €26,430 | €7,875 | -€18,556 | -70.2% |
| Amounts payable within one year | 42/48 | €278,746 | €60,573 | -€218,173 | -78.3% |
| Current portion of amounts payable after more than one year | 42 | €28,936 | €18,556 | -€10,380 | -35.9% |
| Trade debts | 44 | €33,218 | €3,693 | -€29,525 | -88.9% |
| Suppliers | 440/4 | €33,218 | €3,693 | -€29,525 | -88.9% |
| Taxes, remuneration and social security | 45 | €176,841 | €2,401 | -€174,441 | -98.6% |
| Taxes | 450/3 | €176,841 | €2,401 | -€174,441 | -98.6% |
| Other amounts payable | 47/48 | €39,751 | €35,924 | -€3,828 | -9.6% |
| Accrued charges and deferred income | 492/3 | €84 | €1,916 | +€1,832 | +2,170% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,402 | €20,784 | +€1,382 | +7.1% |
| Other operating charges | 640/8 | €551 | €567 | +€15 | +2.8% |
| Gross operating margin | 9900 | €49,904 | €17,007 | -€32,897 | -65.9% |
| Operating profit (loss) | 9901 | €29,951 | -€4,344 | -€34,294 | |
| Financial income | 75/76B | €2,131,871 | €72,809 | -€2.1m | -96.6% |
| Recurring financial income | 75 | €2,131,871 | €72,809 | -€2.1m | -96.6% |
| Financial charges | 65/66B | €6,549 | €15,955 | +€9,406 | +144% |
| Recurring financial charges | 65 | €6,549 | €15,955 | +€9,406 | +144% |
| Profit (loss) for the period before taxes | 9903 | €2,155,273 | €52,510 | -€2.1m | -97.6% |
| Income taxes | 67/77 | €201,729 | €16,127 | -€185,603 | -92.0% |
| Profit (loss) for the period | 9904 | €1,953,544 | €36,384 | -€1.9m | -98.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,953,544 | €36,384 | -€1.9m | -98.1% |
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 30 October 2026 via checked.be.