MAEHL COUNSEL: what changed
MAEHL COUNSEL
Largest movements
- Cash -€59,680
down €59,680 (-68.4%), from €87,261 to €27,581
mainly Contributions, distributions and other (-€95,000) and Other debts (-€69,258)
- Receivables within one year -€37,166
down €37,166 (-91.8%), from €40,488 to €3,322
of which Other amounts receivable: -€37,120
- Tangible fixed assets -€2,532
down €2,532 (-30.8%), from €8,217 to €5,685
of which Furniture and vehicles: -€2,413
- Deferred charges and accrued income -€1,417
no longer reported in 2025 (was €1,417)
- Other debts -€69,258
down €69,258 (-73.4%), from €94,350 to €25,092
- Tax, wage and social debts -€31,687
down €31,687 (-91.6%), from €34,587 to €2,900
- Profit (loss) carried forward +€3,091
up €3,091 (+886%), from €349 to €3,440
- Accrued charges and deferred income -€2,826
down €2,826 (-47.2%), from €5,982 to €3,156
- Gross operating margin -€9,453
down €9,453 (-6.7%), from €140,844 to €131,391
- Financial charges +€5,097
up €5,097 (+551%), from €926 to €6,023
- Taxes -€3,888
down €3,888 (-12.6%), from €30,797 to €26,908
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 | €137,383 | €36,588 | -€100,794 | -73.4% |
| Fixed assets | 21/28 | €8,217 | €5,685 | -€2,532 | -30.8% |
| Tangible fixed assets | 22/27 | €8,217 | €5,685 | -€2,532 | -30.8% |
| Furniture and vehicles | 24 | €7,065 | €4,651 | -€2,413 | -34.2% |
| Other tangible fixed assets | 26 | €1,153 | €1,034 | -€119 | -10.3% |
| Current assets | 29/58 | €129,166 | €30,903 | -€98,262 | -76.1% |
| Amounts receivable within one year | 40/41 | €40,488 | €3,322 | -€37,166 | -91.8% |
| Trade receivables | 40 | €46 | - | -€46 | |
| Other amounts receivable | 41 | €40,442 | €3,322 | -€37,120 | -91.8% |
| Cash at bank and in hand | 54/58 | €87,261 | €27,581 | -€59,680 | -68.4% |
| Deferred charges and accrued income | 490/1 | €1,417 | - | -€1,417 | |
| Total equity and liabilities | 10/49 | €137,383 | €36,588 | -€100,794 | -73.4% |
| Equity | 10/15 | €2,349 | €5,440 | +€3,091 | +132% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €349 | €3,440 | +€3,091 | +886% |
| Amounts payable | 17/49 | €135,034 | €31,148 | -€103,886 | -76.9% |
| Amounts payable within one year | 42/48 | €129,052 | €27,992 | -€101,060 | -78.3% |
| Trade debts | 44 | €115 | - | -€115 | |
| Suppliers | 440/4 | €115 | - | -€115 | |
| Taxes, remuneration and social security | 45 | €34,587 | €2,900 | -€31,687 | -91.6% |
| Taxes | 450/3 | €34,587 | €2,900 | -€31,687 | -91.6% |
| Other amounts payable | 47/48 | €94,350 | €25,092 | -€69,258 | -73.4% |
| Accrued charges and deferred income | 492/3 | €5,982 | €3,156 | -€2,826 | -47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,288 | €2,532 | +€1,244 | +96.6% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €140,844 | €131,391 | -€9,453 | -6.7% |
| Operating profit (loss) | 9901 | €139,169 | €128,459 | -€10,710 | -7.7% |
| Financial income | 75/76B | €3,132 | €2,564 | -€569 | -18.2% |
| Recurring financial income | 75 | €3,132 | €2,564 | -€569 | -18.2% |
| Financial charges | 65/66B | €926 | €6,023 | +€5,097 | +551% |
| Recurring financial charges | 65 | €926 | €6,023 | +€5,097 | +551% |
| Profit (loss) for the period before taxes | 9903 | €141,376 | €125,000 | -€16,376 | -11.6% |
| Income taxes | 67/77 | €30,797 | €26,908 | -€3,888 | -12.6% |
| Profit (loss) for the period | 9904 | €110,579 | €98,091 | -€12,488 | -11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €110,579 | €98,091 | -€12,488 | -11.3% |
Next steps
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 7 November 2026 via checked.be.