MAECK & WOOD: what changed
What changed
MAECK & WOOD
NACE 43.320, Joinery installation
filed annual accounts (NBB)
Net result for the year
-€40,021
2024 · €19,037-€59,058
Equity
-€29,115
2024 · €10,906-€40,021
Cash
€1,946
2024 · €30,763-€28,818
Balance sheet total
€360,340
2024 · €449,316-€88,976
Largest movements
Assets
- Tangible fixed assets -€63,405
down €63,405 (-17.8%), from €356,354 to €292,949
of which Plant, machinery and equipment: -€46,082
- Cash -€28,818
down €28,818 (-93.7%), from €30,763 to €1,946
mainly Debts after one year (-€45,679) and Net result for the year (-€40,021)
- Stocks and contracts +€16,554
up €16,554 (+49.0%), from €33,807 to €50,361
- Intangible fixed assets -€14,542
down €14,542 (-76.1%), from €19,104 to €4,562
Equity and liabilities
- Debts after one year -€45,679
down €45,679 (-14.1%), from €323,815 to €278,136
of which Financial debts: -€45,679
- Profit (loss) carried forward -€40,021
down €40,021 (-42,612%), from -€94 to -€40,115
- Current portion of long-term debt -€8,049
down €8,049 (-20.2%), from €39,791 to €31,743
- Other debts +€5,931
up €5,931 (+10.3%), from €57,645 to €63,576
Income statement
- Gross operating margin -€84,003
down €84,003 (-78.2%), from €107,395 to €23,392
- Staff costs -€11,114
no longer reported in 2025 (was €11,114)
- Depreciation -€10,210
down €10,210 (-15.9%), from €64,085 to €53,875
- Taxes -€5,170
down €5,170, from €2,692 to -€2,479
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
€19,037
Gross operating margin
-€84,003
Staff costs
+€11,114
Depreciation
+€10,210
Other operating charges
+€240
Financial income
-€952
Financial charges
-€836
Taxes
+€5,170
Result 2025
-€40,021
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
+€187
Investment
+€24,724
Financing
-€53,728
Cash 2024
€30,763
From operations (derived)
+€187
Net result for the year
-€40,021
Depreciation
+€53,875
Stocks and contracts
-€16,554
Receivables within one year
-€2,087
Deferred charges and accrued income
+€201
Trade debts
+€1,366
Tax, wage and social debts
-€2,723
Other debts
+€5,931
Accrued charges and deferred income
+€200
Investment (derived)
+€24,724
Investment in fixed assets (net)
+€24,724
Financing
-€53,728
Debts after one year
-€45,679
Current portion of long-term debt
-€8,049
Cash 2025
€1,946
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €449,316 | €360,340 | -€88,976 | -19.8% |
| Formation expenses | 20 | €652 | - | -€652 | |
| Fixed assets | 21/28 | €375,458 | €297,511 | -€77,947 | -20.8% |
| Intangible fixed assets | 21 | €19,104 | €4,562 | -€14,542 | -76.1% |
| Tangible fixed assets | 22/27 | €356,354 | €292,949 | -€63,405 | -17.8% |
| Land and buildings | 22 | €269,352 | €252,840 | -€16,512 | -6.1% |
| Plant, machinery and equipment | 23 | €82,415 | €36,332 | -€46,082 | -55.9% |
| Furniture and vehicles | 24 | €4,587 | €3,777 | -€810 | -17.7% |
| Current assets | 29/58 | €73,206 | €62,829 | -€10,377 | -14.2% |
| Stocks and contracts in progress | 3 | €33,807 | €50,361 | +€16,554 | +49.0% |
| Stocks | 30/36 | €33,807 | €50,361 | +€16,554 | +49.0% |
| Amounts receivable within one year | 40/41 | €7,180 | €9,268 | +€2,087 | +29.1% |
| Trade receivables | 40 | €7,178 | €8,315 | +€1,136 | +15.8% |
| Other amounts receivable | 41 | €2 | €953 | +€951 | +51,410% |
| Cash at bank and in hand | 54/58 | €30,763 | €1,946 | -€28,818 | -93.7% |
| Deferred charges and accrued income | 490/1 | €1,456 | €1,255 | -€201 | -13.8% |
| Total equity and liabilities | 10/49 | €449,316 | €360,340 | -€88,976 | -19.8% |
| Equity | 10/15 | €10,906 | -€29,115 | -€40,021 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €1,000 | €1,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94 | -€40,115 | -€40,021 | -42,612% |
| Amounts payable | 17/49 | €438,410 | €389,455 | -€48,954 | -11.2% |
| Amounts payable after more than one year | 17 | €323,815 | €278,136 | -€45,679 | -14.1% |
| Financial debts | 170/4 | €228,543 | €182,864 | -€45,679 | -20.0% |
| Other amounts payable | 178/9 | €95,272 | €95,272 | = | 0.0% |
| Amounts payable within one year | 42/48 | €113,794 | €110,319 | -€3,475 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €39,791 | €31,743 | -€8,049 | -20.2% |
| Trade debts | 44 | €5,613 | €6,978 | +€1,366 | +24.3% |
| Suppliers | 440/4 | €5,613 | €6,978 | +€1,366 | +24.3% |
| Taxes, remuneration and social security | 45 | €10,745 | €8,021 | -€2,723 | -25.3% |
| Taxes | 450/3 | €10,745 | €221 | -€10,523 | -97.9% |
| Remuneration and social security | 454/9 | - | €7,800 | +€7,800 | |
| Other amounts payable | 47/48 | €57,645 | €63,576 | +€5,931 | +10.3% |
| Accrued charges and deferred income | 492/3 | €800 | €1,000 | +€200 | +25.0% |
| Non-recurring operating income | 76A | €1,143 | €23,964 | +€22,822 | +1,997% |
| Remuneration, social security and pensions | 62 | €11,114 | - | -€11,114 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,085 | €53,875 | -€10,210 | -15.9% |
| Other operating charges | 640/8 | €4,347 | €4,108 | -€240 | -5.5% |
| Gross operating margin | 9900 | €107,395 | €23,392 | -€84,003 | -78.2% |
| Operating profit (loss) | 9901 | €27,849 | -€34,591 | -€62,439 | |
| Financial income | 75/76B | €1,029 | €77 | -€952 | -92.5% |
| Recurring financial income | 75 | €1,029 | €77 | -€952 | -92.5% |
| Financial charges | 65/66B | €7,149 | €7,986 | +€836 | +11.7% |
| Recurring financial charges | 65 | €7,149 | €7,249 | +€100 | +1.4% |
| Non-recurring financial charges | 66B | - | €736 | +€736 | |
| Profit (loss) for the period before taxes | 9903 | €21,728 | -€42,500 | -€64,228 | |
| Income taxes | 67/77 | €2,692 | -€2,479 | -€5,170 | |
| Profit (loss) for the period | 9904 | €19,037 | -€40,021 | -€59,058 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,037 | -€40,021 | -€59,058 |
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 5 November 2026 via checked.be.