MAASHOF: what changed
What changed
MAASHOF
NACE 01.620, Support activities for animal production
filed annual accounts (NBB)
Net result for the year
€5,572
2024 · €3,524+€2,048
Equity
€157,625
2024 · €152,053+€5,572
Cash
€12,691
2024 · €2,345+€10,346
Balance sheet total
€816,275
2024 · €615,848+€200,426
Largest movements
Assets
- Receivables within one year +€97,045
up €97,045 (+40.8%), from €237,564 to €334,609
of which Trade receivables: +€93,043
- Tangible fixed assets +€92,556
up €92,556 (+24.8%), from €373,204 to €465,760
of which Plant, machinery and equipment: +€98,134
- Cash +€10,346
up €10,346 (+441%), from €2,345 to €12,691
mainly Depreciation (+€102,746) and Other debts (+€81,273)
Equity and liabilities
- Other debts +€81,273
up €81,273 (+22.3%), from €363,964 to €445,237
- Debts after one year +€58,052
up €58,052 (+150%), from €38,631 to €96,683
- Trade debts +€52,021
up €52,021 (+292%), from €17,806 to €69,827
Income statement
- Gross operating margin +€6,437
up €6,437 (+6.0%), from €106,499 to €112,936
- Financial income -€3,005
down €3,005 (-63.6%), from €4,726 to €1,721
- Depreciation +€2,572
up €2,572 (+2.6%), from €100,174 to €102,746
- Financial charges -€1,667
down €1,667 (-38.9%), from €4,286 to €2,620
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.
Result 2024
€3,524
Gross operating margin
+€6,437
Depreciation
-€2,572
Other operating charges
-€105
Financial income
-€3,005
Financial charges
+€1,667
Taxes
-€373
Result 2025
€5,572
raises the resultlowers the result
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.
From operations
+€145,443
Investment
-€195,302
Financing
+€60,205
Cash 2024
€2,345
From operations (derived)
+€145,443
Net result for the year
+€5,572
Depreciation
+€102,746
Receivables within one year
-€97,045
Smaller working-capital items
-€394
Trade debts
+€52,021
Tax, wage and social debts
+€1,270
Other debts
+€81,273
Investment (derived)
-€195,302
Investment in fixed assets (net)
-€195,302
Financing
+€60,205
Debts after one year
+€58,052
Current portion of long-term debt
+€2,153
Cash 2025
€12,691
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €615,848 | €816,275 | +€200,426 | +32.5% |
| Fixed assets | 21/28 | €373,204 | €465,760 | +€92,556 | +24.8% |
| Tangible fixed assets | 22/27 | €373,204 | €465,760 | +€92,556 | +24.8% |
| Land and buildings | 22 | €71,712 | €62,066 | -€9,646 | -13.5% |
| Plant, machinery and equipment | 23 | €179,636 | €277,770 | +€98,134 | +54.6% |
| Furniture and vehicles | 24 | €121,856 | €125,924 | +€4,068 | +3.3% |
| Current assets | 29/58 | €242,644 | €350,515 | +€107,870 | +44.5% |
| Amounts receivable within one year | 40/41 | €237,564 | €334,609 | +€97,045 | +40.8% |
| Trade receivables | 40 | €225,557 | €318,600 | +€93,043 | +41.3% |
| Other amounts receivable | 41 | €12,007 | €16,009 | +€4,002 | +33.3% |
| Cash at bank and in hand | 54/58 | €2,345 | €12,691 | +€10,346 | +441% |
| Deferred charges and accrued income | 490/1 | €2,735 | €3,215 | +€479 | +17.5% |
| Total equity and liabilities | 10/49 | €615,848 | €816,275 | +€200,426 | +32.5% |
| Equity | 10/15 | €152,053 | €157,625 | +€5,572 | +3.7% |
| Contributions | 10/11 | €86,000 | €86,000 | = | 0.0% |
| Reserves | 13 | €66,053 | €71,625 | +€5,572 | +8.4% |
| Non-distributable reserves | 130/1 | €1,806 | €8,600 | +€6,794 | +376% |
| Reserves not available under the articles | 1311 | €1,806 | €8,600 | +€6,794 | +376% |
| Distributable reserves | 133 | €64,247 | €63,025 | -€1,222 | -1.9% |
| Amounts payable | 17/49 | €463,795 | €658,650 | +€194,854 | +42.0% |
| Amounts payable after more than one year | 17 | €38,631 | €96,683 | +€58,052 | +150% |
| Financial debts | 170/4 | €38,631 | €96,683 | +€58,052 | +150% |
| Amounts payable within one year | 42/48 | €425,164 | €561,882 | +€136,717 | +32.2% |
| Current portion of amounts payable after more than one year | 42 | €41,848 | €44,001 | +€2,153 | +5.1% |
| Trade debts | 44 | €17,806 | €69,827 | +€52,021 | +292% |
| Suppliers | 440/4 | €17,806 | €69,827 | +€52,021 | +292% |
| Taxes, remuneration and social security | 45 | €1,546 | €2,816 | +€1,270 | +82.1% |
| Taxes | 450/3 | €1,546 | €2,816 | +€1,270 | +82.1% |
| Other amounts payable | 47/48 | €363,964 | €445,237 | +€81,273 | +22.3% |
| Accrued charges and deferred income | 492/3 | - | €85 | +€85 | |
| Non-recurring operating income | 76A | €712 | €33,275 | +€32,563 | +4,573% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,174 | €102,746 | +€2,572 | +2.6% |
| Other operating charges | 640/8 | €2,726 | €2,832 | +€105 | +3.9% |
| Gross operating margin | 9900 | €106,499 | €112,936 | +€6,437 | +6.0% |
| Operating profit (loss) | 9901 | €3,599 | €7,358 | +€3,760 | +104% |
| Financial income | 75/76B | €4,726 | €1,721 | -€3,005 | -63.6% |
| Recurring financial income | 75 | €4,726 | €1,721 | -€3,005 | -63.6% |
| Financial charges | 65/66B | €4,286 | €2,620 | -€1,667 | -38.9% |
| Recurring financial charges | 65 | €4,286 | €2,620 | -€1,667 | -38.9% |
| Profit (loss) for the period before taxes | 9903 | €4,038 | €6,460 | +€2,421 | +60.0% |
| Income taxes | 67/77 | €514 | €887 | +€373 | +72.6% |
| Profit (loss) for the period | 9904 | €3,524 | €5,572 | +€2,048 | +58.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,524 | €5,572 | +€2,048 | +58.1% |
Next steps
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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.