MAARTEN BUELENS: what changed
MAARTEN BUELENS
Largest movements
- Stocks and contracts +€15,438
up €15,438 (+23.1%), from €66,928 to €82,367
of which Contracts in progress: +€15,438
- Receivables within one year +€11,234
up €11,234 (+14.5%), from €77,270 to €88,504
of which Trade receivables: +€23,939
- Tangible fixed assets -€3,577
down €3,577 (-36.7%), from €9,738 to €6,161
of which Furniture and vehicles: -€4,500
- Other debts +€9,414
up €9,414 (+4.7%), from €199,480 to €208,894
- Profit (loss) carried forward +€8,894
up €8,894 (+18.3%), from -€48,596 to -€39,702
- Trade debts +€4,616
up €4,616 (+250%), from €1,845 to €6,461
- Gross operating margin +€31,407
up €31,407, from -€16,885 to €14,522
- Financial charges -€11,490
down €11,490 (-99.4%), from €11,563 to €72
- Depreciation +€871
up €871 (+22.2%), from €3,915 to €4,786
- Other operating charges -€187
down €187 (-18.1%), from €1,033 to €846
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 | €162,361 | €184,940 | +€22,578 | +13.9% |
| Fixed assets | 21/28 | €9,738 | €6,161 | -€3,577 | -36.7% |
| Tangible fixed assets | 22/27 | €9,738 | €6,161 | -€3,577 | -36.7% |
| Plant, machinery and equipment | 23 | - | €923 | +€923 | |
| Furniture and vehicles | 24 | €9,738 | €5,238 | -€4,500 | -46.2% |
| Current assets | 29/58 | €152,623 | €178,779 | +€26,155 | +17.1% |
| Stocks and contracts in progress | 3 | €66,928 | €82,367 | +€15,438 | +23.1% |
| Stocks | 30/36 | €2,000 | €2,000 | = | 0.0% |
| Contracts in progress | 37 | €64,928 | €80,367 | +€15,438 | +23.8% |
| Amounts receivable within one year | 40/41 | €77,270 | €88,504 | +€11,234 | +14.5% |
| Trade receivables | 40 | €60,135 | €84,074 | +€23,939 | +39.8% |
| Other amounts receivable | 41 | €17,134 | €4,429 | -€12,705 | -74.2% |
| Cash at bank and in hand | 54/58 | €8,426 | €7,908 | -€517 | -6.1% |
| Total equity and liabilities | 10/49 | €162,361 | €184,940 | +€22,578 | +13.9% |
| Equity | 10/15 | -€40,536 | -€31,642 | +€8,894 | +21.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,596 | -€39,702 | +€8,894 | +18.3% |
| Amounts payable | 17/49 | €202,897 | €216,582 | +€13,685 | +6.7% |
| Amounts payable within one year | 42/48 | €202,897 | €216,582 | +€13,685 | +6.7% |
| Trade debts | 44 | €1,845 | €6,461 | +€4,616 | +250% |
| Suppliers | 440/4 | €1,845 | €6,461 | +€4,616 | +250% |
| Taxes, remuneration and social security | 45 | €1,573 | €1,227 | -€346 | -22.0% |
| Taxes | 450/3 | €1,573 | €1,227 | -€346 | -22.0% |
| Other amounts payable | 47/48 | €199,480 | €208,894 | +€9,414 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,915 | €4,786 | +€871 | +22.2% |
| Other operating charges | 640/8 | €1,033 | €846 | -€187 | -18.1% |
| Gross operating margin | 9900 | -€16,885 | €14,522 | +€31,407 | |
| Operating profit (loss) | 9901 | -€21,833 | €8,890 | +€30,723 | |
| Financial income | 75/76B | €0 | €76 | +€76 | +763,300% |
| Recurring financial income | 75 | €0 | €76 | +€76 | +763,300% |
| Financial charges | 65/66B | €11,563 | €72 | -€11,490 | -99.4% |
| Recurring financial charges | 65 | €11,563 | €72 | -€11,490 | -99.4% |
| Profit (loss) for the period before taxes | 9903 | -€33,396 | €8,894 | +€42,289 | |
| Profit (loss) for the period | 9904 | -€33,396 | €8,894 | +€42,289 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,396 | €8,894 | +€42,289 |
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.