MAE'VERDE: what changed
MAE'VERDE
Largest movements
- Tangible fixed assets +€46,158
up €46,158 (+26.8%), from €172,450 to €218,608
of which Furniture and vehicles: +€50,879
- Receivables within one year +€45,945
up €45,945 (+85.4%), from €53,819 to €99,764
of which Trade receivables: +€34,784
- Cash -€6,951
down €6,951 (-98.3%), from €7,071 to €120
mainly Investment in fixed assets (net) (-€78,447) and Receivables within one year (-€45,945)
- Current investments +€4,939
new in 2025: €4,939
- Trade debts +€61,499
up €61,499 (+158%), from €38,845 to €100,344
- Reserves +€49,378
up €49,378 (+141%), from €35,130 to €84,508
of which Distributable reserves: +€49,378
- Debts after one year -€31,626
down €31,626 (-32.6%), from €96,875 to €65,249
- Tax, wage and social debts +€9,075
up €9,075 (+45.1%), from €20,141 to €29,217
of which Taxes: +€9,743
- Gross operating margin +€49,795
up €49,795 (+104%), from €47,810 to €97,605
- Taxes +€11,110
new in 2025: €11,110
- Staff costs -€1,623
no longer reported in 2025 (was €1,623)
- Depreciation -€1,256
down €1,256 (-3.7%), from €33,545 to €32,289
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 | €237,556 | €326,781 | +€89,225 | +37.6% |
| Fixed assets | 21/28 | €172,450 | €218,608 | +€46,158 | +26.8% |
| Tangible fixed assets | 22/27 | €172,450 | €218,608 | +€46,158 | +26.8% |
| Land and buildings | 22 | €102,597 | €96,793 | -€5,804 | -5.7% |
| Plant, machinery and equipment | 23 | €2,495 | €3,579 | +€1,083 | +43.4% |
| Furniture and vehicles | 24 | €67,357 | €118,236 | +€50,879 | +75.5% |
| Current assets | 29/58 | €65,107 | €108,173 | +€43,067 | +66.1% |
| Stocks and contracts in progress | 3 | €3,350 | €3,350 | = | 0.0% |
| Stocks | 30/36 | €3,350 | €3,350 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €53,819 | €99,764 | +€45,945 | +85.4% |
| Trade receivables | 40 | €46,773 | €81,557 | +€34,784 | +74.4% |
| Other amounts receivable | 41 | €7,047 | €18,207 | +€11,161 | +158% |
| Current investments | 50/53 | - | €4,939 | +€4,939 | |
| Cash at bank and in hand | 54/58 | €7,071 | €120 | -€6,951 | -98.3% |
| Deferred charges and accrued income | 490/1 | €866 | - | -€866 | |
| Total equity and liabilities | 10/49 | €237,556 | €326,781 | +€89,225 | +37.6% |
| Equity | 10/15 | €47,530 | €96,908 | +€49,378 | +104% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €35,130 | €84,508 | +€49,378 | +141% |
| Non-distributable reserves | 130/1 | €520 | €520 | = | 0.0% |
| Reserves not available under the articles | 1311 | €520 | €520 | = | 0.0% |
| Distributable reserves | 133 | €34,610 | €83,988 | +€49,378 | +143% |
| Amounts payable | 17/49 | €190,026 | €229,873 | +€39,847 | +21.0% |
| Amounts payable after more than one year | 17 | €96,875 | €65,249 | -€31,626 | -32.6% |
| Financial debts | 170/4 | €96,875 | €65,249 | -€31,626 | -32.6% |
| Amounts payable within one year | 42/48 | €93,151 | €164,624 | +€71,473 | +76.7% |
| Current portion of amounts payable after more than one year | 42 | €30,443 | €31,361 | +€918 | +3.0% |
| Trade debts | 44 | €38,845 | €100,344 | +€61,499 | +158% |
| Suppliers | 440/4 | €38,845 | €100,344 | +€61,499 | +158% |
| Taxes, remuneration and social security | 45 | €20,141 | €29,217 | +€9,075 | +45.1% |
| Taxes | 450/3 | - | €9,743 | +€9,743 | |
| Remuneration and social security | 454/9 | €20,141 | €19,474 | -€667 | -3.3% |
| Other amounts payable | 47/48 | €3,722 | €3,702 | -€20 | -0.5% |
| Remuneration, social security and pensions | 62 | €1,623 | - | -€1,623 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,545 | €32,289 | -€1,256 | -3.7% |
| Other operating charges | 640/8 | €1,658 | €2,322 | +€664 | +40.0% |
| Gross operating margin | 9900 | €47,810 | €97,605 | +€49,795 | +104% |
| Operating profit (loss) | 9901 | €10,983 | €62,993 | +€52,010 | +474% |
| Financial income | 75/76B | €256 | €146 | -€110 | -43.0% |
| Recurring financial income | 75 | €256 | €146 | -€110 | -43.0% |
| Financial charges | 65/66B | €3,033 | €2,651 | -€381 | -12.6% |
| Recurring financial charges | 65 | €3,033 | €2,651 | -€381 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €8,206 | €60,488 | +€52,281 | +637% |
| Income taxes | 67/77 | - | €11,110 | +€11,110 | |
| Profit (loss) for the period | 9904 | €8,206 | €49,378 | +€41,171 | +502% |
| Profit (loss) for the period to be appropriated | 9905 | €8,206 | €49,378 | +€41,171 | +502% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.