"MAENHOEVE": 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.
"MAENHOEVE"
Largest movements
- Tangible fixed assets +€15,164
up €15,164 (+541%), from €2,804 to €17,968
of which Other tangible fixed assets: +€15,475
- Receivables within one year +€5,071
up €5,071 (+688%), from €737 to €5,808
of which Trade receivables: +€5,139
- Cash -€1,689
down €1,689 (-96.0%), from €1,759 to €70
mainly Investment in fixed assets (net) (-€15,500) and Receivables within one year (-€5,071)
- Profit (loss) carried forward +€8,327
up €8,327, from -€3,434 to €4,893
- Tax, wage and social debts +€5,185
up €5,185 (+2,315%), from €224 to €5,409
- Trade debts +€3,035
new in 2025: €3,035
- Other debts +€1,999
up €1,999 (+33.3%), from €6,010 to €8,009
- Gross operating margin +€11,815
up €11,815, from -€96 to €11,719
- Taxes +€2,428
new in 2025: €2,428
- Financial charges -€1,326
down €1,326 (-89.1%), from €1,489 to €163
of which Non-recurring financial charges: -€1,297
- Other operating charges -€120
down €120 (-20.5%), from €585 to €465
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 | €5,300 | €23,846 | +€18,546 | +350% |
| Fixed assets | 21/28 | €2,804 | €17,968 | +€15,164 | +541% |
| Tangible fixed assets | 22/27 | €2,804 | €17,968 | +€15,164 | +541% |
| Furniture and vehicles | 24 | €2,804 | €2,493 | -€311 | -11.1% |
| Other tangible fixed assets | 26 | - | €15,475 | +€15,475 | |
| Current assets | 29/58 | €2,496 | €5,878 | +€3,382 | +135% |
| Amounts receivable within one year | 40/41 | €737 | €5,808 | +€5,071 | +688% |
| Trade receivables | 40 | €669 | €5,808 | +€5,139 | +768% |
| Other amounts receivable | 41 | €68 | - | -€68 | |
| Cash at bank and in hand | 54/58 | €1,759 | €70 | -€1,689 | -96.0% |
| Total equity and liabilities | 10/49 | €5,300 | €23,846 | +€18,546 | +350% |
| Equity | 10/15 | -€934 | €7,393 | +€8,327 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,434 | €4,893 | +€8,327 | |
| Amounts payable | 17/49 | €6,234 | €16,453 | +€10,219 | +164% |
| Amounts payable within one year | 42/48 | €6,234 | €16,453 | +€10,219 | +164% |
| Trade debts | 44 | - | €3,035 | +€3,035 | |
| Suppliers | 440/4 | - | €3,035 | +€3,035 | |
| Taxes, remuneration and social security | 45 | €224 | €5,409 | +€5,185 | +2,315% |
| Taxes | 450/3 | €224 | €5,409 | +€5,185 | +2,315% |
| Other amounts payable | 47/48 | €6,010 | €8,009 | +€1,999 | +33.3% |
| Non-recurring operating income | 76A | €905 | - | -€905 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €312 | €336 | +€24 | +7.7% |
| Other operating charges | 640/8 | €585 | €465 | -€120 | -20.5% |
| Gross operating margin | 9900 | -€96 | €11,719 | +€11,815 | |
| Operating profit (loss) | 9901 | -€993 | €10,918 | +€11,911 | |
| Financial charges | 65/66B | €1,489 | €163 | -€1,326 | -89.1% |
| Recurring financial charges | 65 | €192 | €163 | -€29 | -15.1% |
| Non-recurring financial charges | 66B | €1,297 | - | -€1,297 | |
| Profit (loss) for the period before taxes | 9903 | -€2,482 | €10,755 | +€13,237 | |
| Income taxes | 67/77 | - | €2,428 | +€2,428 | |
| Profit (loss) for the period | 9904 | -€2,482 | €8,327 | +€10,809 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,482 | €8,327 | +€10,809 |
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 14 October 2026 via checked.be.