MAALDERIJ MAAS: what changed
MAALDERIJ MAAS
Largest movements
- Stocks and contracts -€150,268
no longer reported in 2025 (was €150,268)
- Cash -€71,149
down €71,149 (-81.8%), from €86,978 to €15,830
mainly Net result for the year (-€94,082) and Trade debts (-€87,478)
- Receivables within one year +€20,607
up €20,607 (+12.0%), from €172,059 to €192,666
of which Other amounts receivable: +€129,716
- Deferred charges and accrued income -€4,607
down €4,607 (-58.5%), from €7,875 to €3,268
- Trade debts -€87,478
down €87,478 (-96.7%), from €90,464 to €2,986
- Profit (loss) carried forward -€64,333
down €64,333 (-1,482%), from -€4,340 to -€68,673
- Reserves -€29,749
down €29,749 (-21.8%), from €136,371 to €106,622
of which Tax-exempt reserves: -€29,749
- Tax, wage and social debts -€25,243
down €25,243 (-85.3%), from €29,591 to €4,348
of which Remuneration and social security: -€23,728
- Gross operating margin -€182,521
down €182,521, from €154,530 to -€27,991
- Staff costs -€93,644
down €93,644 (-61.2%), from €153,021 to €59,378
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €418,565 | €211,763 | -€206,802 | -49.4% |
| Fixed assets | 21/28 | €1,385 | - | -€1,385 | |
| Tangible fixed assets | 22/27 | €1,385 | - | -€1,385 | |
| Land and buildings | 22 | €501 | - | -€501 | |
| Plant, machinery and equipment | 23 | €884 | - | -€884 | |
| Current assets | 29/58 | €417,180 | €211,763 | -€205,417 | -49.2% |
| Stocks and contracts in progress | 3 | €150,268 | - | -€150,268 | |
| Stocks | 30/36 | €150,268 | - | -€150,268 | |
| Amounts receivable within one year | 40/41 | €172,059 | €192,666 | +€20,607 | +12.0% |
| Trade receivables | 40 | €124,000 | €14,891 | -€109,109 | -88.0% |
| Other amounts receivable | 41 | €48,058 | €177,775 | +€129,716 | +270% |
| Cash at bank and in hand | 54/58 | €86,978 | €15,830 | -€71,149 | -81.8% |
| Deferred charges and accrued income | 490/1 | €7,875 | €3,268 | -€4,607 | -58.5% |
| Total equity and liabilities | 10/49 | €418,565 | €211,763 | -€206,802 | -49.4% |
| Equity | 10/15 | €298,510 | €204,428 | -€94,082 | -31.5% |
| Contributions | 10/11 | €166,479 | €166,479 | = | 0.0% |
| Capital | 10 | €166,479 | €166,479 | = | 0.0% |
| Issued capital | 100 | €166,479 | €166,479 | = | 0.0% |
| Reserves | 13 | €136,371 | €106,622 | -€29,749 | -21.8% |
| Non-distributable reserves | 130/1 | €10,721 | €10,721 | = | 0.0% |
| Legal reserve | 130 | €10,721 | €10,721 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,749 | - | -€29,749 | |
| Distributable reserves | 133 | €95,900 | €95,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,340 | -€68,673 | -€64,333 | -1,482% |
| Amounts payable | 17/49 | €120,055 | €7,335 | -€112,720 | -93.9% |
| Amounts payable within one year | 42/48 | €120,055 | €7,335 | -€112,720 | -93.9% |
| Trade debts | 44 | €90,464 | €2,986 | -€87,478 | -96.7% |
| Suppliers | 440/4 | €90,464 | €2,986 | -€87,478 | -96.7% |
| Taxes, remuneration and social security | 45 | €29,591 | €4,348 | -€25,243 | -85.3% |
| Taxes | 450/3 | €5,863 | €4,348 | -€1,515 | -25.8% |
| Remuneration and social security | 454/9 | €23,728 | - | -€23,728 | |
| Non-recurring operating income | 76A | €450 | €15,017 | +€14,567 | +3,237% |
| Remuneration, social security and pensions | 62 | €153,021 | €59,378 | -€93,644 | -61.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €486 | - | -€486 | |
| Other operating charges | 640/8 | €3,186 | €2,972 | -€214 | -6.7% |
| Non-recurring operating charges | 66A | - | €1,385 | +€1,385 | |
| Gross operating margin | 9900 | €154,530 | -€27,991 | -€182,521 | |
| Operating profit (loss) | 9901 | -€2,163 | -€91,726 | -€89,563 | -4,140% |
| Financial income | 75/76B | €611 | €1 | -€610 | -99.9% |
| Recurring financial income | 75 | €611 | €1 | -€610 | -99.9% |
| Financial charges | 65/66B | €2,314 | €1,831 | -€483 | -20.9% |
| Recurring financial charges | 65 | €2,314 | €1,831 | -€483 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,867 | -€93,557 | -€89,690 | -2,319% |
| Income taxes | 67/77 | €473 | €525 | +€52 | +10.9% |
| Profit (loss) for the period | 9904 | -€4,340 | -€94,082 | -€89,741 | -2,068% |
| Transfer from tax-exempt reserves | 789 | - | €29,749 | +€29,749 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,340 | -€64,333 | -€59,992 | -1,382% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.