MAATWERK: 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.
MAATWERK
Largest movements
- Receivables within one year -€28,185
down €28,185 (-45.7%), from €61,609 to €33,423
of which Trade receivables: -€30,075
- Tangible fixed assets -€4,231
down €4,231 (-24.5%), from €17,289 to €13,059
of which Furniture and vehicles: -€3,927
- Cash +€1,664
new in 2025: €1,664
mainly Receivables within one year (+€28,185) and Depreciation (+€4,231)
- Profit (loss) carried forward -€20,370
down €20,370 (-25.7%), from -€79,136 to -€99,506
- Short-term financial debts -€4,769
no longer reported in 2025 (was €4,769)
- Trade debts -€3,107
down €3,107 (-71.1%), from €4,370 to €1,263
- Other debts -€1,611
down €1,611 (-10.3%), from €15,629 to €14,018
- Accrued charges and deferred income -€1,481
no longer reported in 2025 (was €1,481)
- Gross operating margin -€41,388
down €41,388, from €26,423 to -€14,964
- Depreciation +€1,068
up €1,068 (+33.7%), from €3,163 to €4,231
- Financial charges -€278
down €278 (-29.4%), from €947 to €668
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 | €78,898 | €48,146 | -€30,752 | -39.0% |
| Fixed assets | 21/28 | €17,289 | €13,059 | -€4,231 | -24.5% |
| Tangible fixed assets | 22/27 | €17,289 | €13,059 | -€4,231 | -24.5% |
| Plant, machinery and equipment | 23 | €488 | €184 | -€304 | -62.3% |
| Furniture and vehicles | 24 | €16,802 | €12,875 | -€3,927 | -23.4% |
| Current assets | 29/58 | €61,609 | €35,088 | -€26,521 | -43.0% |
| Amounts receivable within one year | 40/41 | €61,609 | €33,423 | -€28,185 | -45.7% |
| Trade receivables | 40 | €61,598 | €31,523 | -€30,075 | -48.8% |
| Other amounts receivable | 41 | €11 | €1,900 | +€1,889 | +17,525% |
| Cash at bank and in hand | 54/58 | - | €1,664 | +€1,664 | |
| Total equity and liabilities | 10/49 | €78,898 | €48,146 | -€30,752 | -39.0% |
| Equity | 10/15 | €51,197 | €30,827 | -€20,370 | -39.8% |
| Contributions | 10/11 | €130,270 | €130,270 | = | 0.0% |
| Reserves | 13 | €62 | €62 | = | 0.0% |
| Tax-exempt reserves | 132 | €62 | €62 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,136 | -€99,506 | -€20,370 | -25.7% |
| Amounts payable | 17/49 | €27,702 | €17,320 | -€10,382 | -37.5% |
| Amounts payable within one year | 42/48 | €26,220 | €17,320 | -€8,900 | -33.9% |
| Financial debts | 43 | €4,769 | - | -€4,769 | |
| Credit institutions | 430/8 | €4,769 | - | -€4,769 | |
| Trade debts | 44 | €4,370 | €1,263 | -€3,107 | -71.1% |
| Suppliers | 440/4 | €4,370 | €1,263 | -€3,107 | -71.1% |
| Taxes, remuneration and social security | 45 | €1,453 | €2,039 | +€586 | +40.3% |
| Taxes | 450/3 | €1,453 | €2,039 | +€586 | +40.3% |
| Other amounts payable | 47/48 | €15,629 | €14,018 | -€1,611 | -10.3% |
| Accrued charges and deferred income | 492/3 | €1,481 | - | -€1,481 | |
| Non-recurring operating income | 76A | €10,748 | - | -€10,748 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,163 | €4,231 | +€1,068 | +33.7% |
| Other operating charges | 640/8 | €262 | €144 | -€118 | -44.9% |
| Gross operating margin | 9900 | €26,423 | -€14,964 | -€41,388 | |
| Operating profit (loss) | 9901 | €22,998 | -€19,339 | -€42,338 | |
| Financial income | 75/76B | €0 | €20 | +€20 | +199,900% |
| Recurring financial income | 75 | €0 | €20 | +€20 | +199,900% |
| Financial charges | 65/66B | €947 | €668 | -€278 | -29.4% |
| Recurring financial charges | 65 | €947 | €668 | -€278 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €22,052 | -€19,988 | -€42,040 | |
| Income taxes | 67/77 | €217 | €382 | +€166 | +76.3% |
| Profit (loss) for the period | 9904 | €21,835 | -€20,370 | -€42,205 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,835 | -€20,370 | -€42,205 |
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 23 October 2026 via checked.be.