MACONNERIE HERMAN: 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.
MACONNERIE HERMAN
Largest movements
- Receivables within one year -€46,278
down €46,278 (-74.5%), from €62,082 to €15,804
of which Trade receivables: -€51,315
- Tangible fixed assets -€33,737
down €33,737 (-47.6%), from €70,848 to €37,111
of which Furniture and vehicles: -€26,537
- Deferred charges and accrued income +€25,932
new in 2025: €25,932
- Cash +€5,859
up €5,859 (+43.7%), from €13,393 to €19,252
mainly Receivables within one year (+€46,278) and Depreciation (+€20,707)
- Current portion of long-term debt -€44,313
down €44,313 (-78.9%), from €56,182 to €11,869
- Debts after one year -€18,368
down €18,368 (-51.9%), from €35,375 to €17,007
- Trade debts +€7,442
up €7,442 (+237%), from €3,138 to €10,580
- Profit (loss) carried forward +€4,686
up €4,686 (+2.4%), from €195,465 to €200,151
- Other debts +€4,040
new in 2025: €4,040
- Purchases and services +€66,981
up €66,981 (+85.8%), from €78,087 to €145,068
- Gross operating margin -€12,587
down €12,587 (-29.6%), from €42,564 to €29,977
- Depreciation -€8,104
down €8,104 (-28.1%), from €28,811 to €20,707
- Taxes -€1,852
new in 2025: -€1,852
- Other operating charges +€968
up €968 (+63.0%), from €1,537 to €2,505
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 | €296,323 | €248,100 | -€48,223 | -16.3% |
| Fixed assets | 21/28 | €220,848 | €187,111 | -€33,737 | -15.3% |
| Tangible fixed assets | 22/27 | €70,848 | €37,111 | -€33,737 | -47.6% |
| Furniture and vehicles | 24 | €46,248 | €19,711 | -€26,537 | -57.4% |
| Other tangible fixed assets | 26 | €24,600 | €17,400 | -€7,200 | -29.3% |
| Financial fixed assets | 28 | €150,000 | €150,000 | = | 0.0% |
| Current assets | 29/58 | €75,475 | €60,988 | -€14,487 | -19.2% |
| Amounts receivable within one year | 40/41 | €62,082 | €15,804 | -€46,278 | -74.5% |
| Trade receivables | 40 | €62,082 | €10,767 | -€51,315 | -82.7% |
| Other amounts receivable | 41 | - | €5,037 | +€5,037 | |
| Cash at bank and in hand | 54/58 | €13,393 | €19,252 | +€5,859 | +43.7% |
| Deferred charges and accrued income | 490/1 | - | €25,932 | +€25,932 | |
| Total equity and liabilities | 10/49 | €296,323 | €248,100 | -€48,223 | -16.3% |
| Equity | 10/15 | €197,165 | €201,851 | +€4,686 | +2.4% |
| Reserves | 13 | €1,700 | €1,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,700 | €1,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €195,465 | €200,151 | +€4,686 | +2.4% |
| Amounts payable | 17/49 | €99,158 | €46,248 | -€52,910 | -53.4% |
| Amounts payable after more than one year | 17 | €35,375 | €17,007 | -€18,368 | -51.9% |
| Financial debts | 170/4 | €35,375 | €17,007 | -€18,368 | -51.9% |
| Amounts payable within one year | 42/48 | €63,783 | €29,241 | -€34,542 | -54.2% |
| Current portion of amounts payable after more than one year | 42 | €56,182 | €11,869 | -€44,313 | -78.9% |
| Trade debts | 44 | €3,138 | €10,580 | +€7,442 | +237% |
| Suppliers | 440/4 | €3,138 | €10,580 | +€7,442 | +237% |
| Taxes, remuneration and social security | 45 | €4,463 | €2,752 | -€1,711 | -38.3% |
| Taxes | 450/3 | €4,463 | €2,752 | -€1,711 | -38.3% |
| Other amounts payable | 47/48 | - | €4,040 | +€4,040 | |
| Non-recurring operating income | 76A | €3,044 | - | -€3,044 | |
| Goods, raw materials, services and sundry goods | 60/61 | €78,087 | €145,068 | +€66,981 | +85.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,811 | €20,707 | -€8,104 | -28.1% |
| Other operating charges | 640/8 | €1,537 | €2,505 | +€968 | +63.0% |
| Non-recurring operating charges | 66A | €2,231 | - | -€2,231 | |
| Gross operating margin | 9900 | €42,564 | €29,977 | -€12,587 | -29.6% |
| Operating profit (loss) | 9901 | €9,985 | €6,765 | -€3,220 | -32.3% |
| Financial income | 75/76B | €3,810 | €3,077 | -€733 | -19.2% |
| Recurring financial income | 75 | €3,810 | €3,077 | -€733 | -19.2% |
| Financial charges | 65/66B | €4,155 | €3,303 | -€852 | -20.5% |
| Recurring financial charges | 65 | €4,155 | €3,242 | -€913 | -22.0% |
| Non-recurring financial charges | 66B | - | €61 | +€61 | |
| Profit (loss) for the period before taxes | 9903 | €9,640 | €6,539 | -€3,101 | -32.2% |
| Transfer to deferred taxes | 680 | - | €3,704 | +€3,704 | |
| Income taxes | 67/77 | - | -€1,852 | -€1,852 | |
| Profit (loss) for the period | 9904 | €9,640 | €4,687 | -€4,953 | -51.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,640 | €4,687 | -€4,953 | -51.4% |
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 27 October 2026 via checked.be.