LOUIS MAES EXPORT: 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.
LOUIS MAES EXPORT
Largest movements
- Receivables within one year -€359,634
down €359,634 (-90.3%), from €398,134 to €38,500
- Financial fixed assets -€140,000
no longer reported in 2025 (was €140,000)
- Cash +€34,636
up €34,636 (+476%), from €7,277 to €41,913
mainly Receivables within one year (+€359,634) and Investment in fixed assets (net) (+€140,000)
- Deferred charges and accrued income -€18,697
down €18,697 (-74.1%), from €25,216 to €6,519
- Profit (loss) carried forward -€457,282
down €457,282 (-55.0%), from €831,041 to €373,759
- Trade debts -€27,081
down €27,081 (-99.8%), from €27,126 to €45
- Financial charges +€101,503
up €101,503 (+125,375%), from €81 to €101,584
of which Non-recurring financial charges: +€101,500
- Financial income -€18,895
no longer reported in 2025 (was €18,895)
- Gross operating margin +€4,153
up €4,153 (+13.9%), from €29,821 to €33,975
- Other operating charges +€941
up €941 (+3.6%), from €26,232 to €27,173
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 | €927,798 | €444,103 | -€483,695 | -52.1% |
| Fixed assets | 21/28 | €497,171 | €357,171 | -€140,000 | -28.2% |
| Tangible fixed assets | 22/27 | €357,171 | €357,171 | = | 0.0% |
| Land and buildings | 22 | €357,171 | €357,171 | = | 0.0% |
| Financial fixed assets | 28 | €140,000 | - | -€140,000 | |
| Current assets | 29/58 | €430,627 | €86,933 | -€343,695 | -79.8% |
| Amounts receivable within one year | 40/41 | €398,134 | €38,500 | -€359,634 | -90.3% |
| Other amounts receivable | 41 | €398,134 | €38,500 | -€359,634 | -90.3% |
| Cash at bank and in hand | 54/58 | €7,277 | €41,913 | +€34,636 | +476% |
| Deferred charges and accrued income | 490/1 | €25,216 | €6,519 | -€18,697 | -74.1% |
| Total equity and liabilities | 10/49 | €927,798 | €444,103 | -€483,695 | -52.1% |
| Equity | 10/15 | €899,947 | €442,665 | -€457,282 | -50.8% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,933 | €6,933 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,933 | €6,933 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Other | 1319 | €736 | €736 | = | 0.0% |
| Profit (loss) carried forward | 14 | €831,041 | €373,759 | -€457,282 | -55.0% |
| Amounts payable | 17/49 | €27,851 | €1,439 | -€26,412 | -94.8% |
| Amounts payable within one year | 42/48 | €27,126 | €45 | -€27,081 | -99.8% |
| Trade debts | 44 | €27,126 | €45 | -€27,081 | -99.8% |
| Suppliers | 440/4 | €27,126 | €45 | -€27,081 | -99.8% |
| Accrued charges and deferred income | 492/3 | €726 | €1,394 | +€668 | +92.1% |
| Other operating charges | 640/8 | €26,232 | €27,173 | +€941 | +3.6% |
| Gross operating margin | 9900 | €29,821 | €33,975 | +€4,153 | +13.9% |
| Operating profit (loss) | 9901 | €3,590 | €6,802 | +€3,213 | +89.5% |
| Financial income | 75/76B | €18,895 | - | -€18,895 | |
| Recurring financial income | 75 | €18,895 | - | -€18,895 | |
| Financial charges | 65/66B | €81 | €101,584 | +€101,503 | +125,375% |
| Recurring financial charges | 65 | €81 | €84 | +€3 | +4.1% |
| Non-recurring financial charges | 66B | - | €101,500 | +€101,500 | |
| Profit (loss) for the period before taxes | 9903 | €22,403 | -€94,782 | -€117,186 | |
| Profit (loss) for the period | 9904 | €22,403 | -€94,782 | -€117,186 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,403 | -€94,782 | -€117,186 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.