MAENHOUDT DIDIER: 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.
MAENHOUDT DIDIER
Largest movements
- Tangible fixed assets -€28,332
down €28,332 (-13.1%), from €216,546 to €188,215
of which Land and buildings: -€22,041
- Receivables within one year +€12,841
up €12,841 (+28.2%), from €45,471 to €58,313
of which Other amounts receivable: +€10,938
- Cash -€3,826
down €3,826 (-5.7%), from €67,120 to €63,295
mainly Debts after one year (-€36,406) and Contributions, distributions and other (-€14,869)
- Debts after one year -€36,406
down €36,406 (-42.2%), from €86,322 to €49,916
- Reserves +€15,330
up €15,330 (+9.7%), from €157,440 to €172,770
of which Distributable reserves: +€15,330
- Trade debts -€6,475
down €6,475 (-21.7%), from €29,883 to €23,408
- Tax, wage and social debts +€5,455
up €5,455 (+786.9%), from €693 to €6,148
of which Remuneration and social security: +€3,046
- Gross operating margin +€13,548
up €13,548 (+19.8%), from €68,304 to €81,852
- Taxes +€3,171
up €3,171 (+38.1%), from €8,332 to €11,502
- Depreciation +€1,138
up €1,138 (+3.3%), from €34,120 to €35,257
From the 2025 result to the 2026 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.
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €329,138 | €309,822 | -€19,316 | -5.9% |
| Fixed assets | 21/28 | €216,546 | €188,215 | -€28,332 | -13.1% |
| Tangible fixed assets | 22/27 | €216,546 | €188,215 | -€28,332 | -13.1% |
| Land and buildings | 22 | €180,870 | €158,829 | -€22,041 | -12.2% |
| Furniture and vehicles | 24 | €35,676 | €29,386 | -€6,290 | -17.6% |
| Current assets | 29/58 | €112,592 | €121,607 | +€9,016 | +8.0% |
| Amounts receivable within one year | 40/41 | €45,471 | €58,313 | +€12,841 | +28.2% |
| Trade receivables | 40 | €35,091 | €36,995 | +€1,904 | +5.4% |
| Other amounts receivable | 41 | €10,380 | €21,318 | +€10,938 | +105.4% |
| Cash at bank and in hand | 54/58 | €67,120 | €63,295 | -€3,826 | -5.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €329,138 | €309,822 | -€19,316 | -5.9% |
| Equity | 10/15 | €171,586 | €186,916 | +€15,330 | +8.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €157,440 | €172,770 | +€15,330 | +9.7% |
| Tax-exempt reserves | 132 | €11,521 | €11,521 | = | 0.0% |
| Distributable reserves | 133 | €145,919 | €161,249 | +€15,330 | +10.5% |
| Profit (loss) carried forward | 14 | €7,946 | €7,946 | = | 0.0% |
| Provisions and deferred taxes | 16 | €5,000 | €5,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €5,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €152,552 | €117,906 | -€34,646 | -22.7% |
| Amounts payable after more than one year | 17 | €86,322 | €49,916 | -€36,406 | -42.2% |
| Financial debts | 170/4 | €86,322 | €49,916 | -€36,406 | -42.2% |
| Amounts payable within one year | 42/48 | €66,230 | €67,990 | +€1,760 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €35,653 | €36,406 | +€753 | +2.1% |
| Financial debts | 43 | €0 | €2,027 | +€2,027 | |
| Credit institutions | 430/8 | €0 | €2,027 | +€2,027 | |
| Trade debts | 44 | €29,883 | €23,408 | -€6,475 | -21.7% |
| Suppliers | 440/4 | €29,883 | €23,408 | -€6,475 | -21.7% |
| Taxes, remuneration and social security | 45 | €693 | €6,148 | +€5,455 | +786.9% |
| Taxes | 450/3 | €693 | €3,102 | +€2,409 | +347.5% |
| Remuneration and social security | 454/9 | €0 | €3,046 | +€3,046 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,120 | €35,257 | +€1,138 | +3.3% |
| Other operating charges | 640/8 | €2,633 | €2,540 | -€93 | -3.5% |
| Gross operating margin | 9900 | €68,304 | €81,852 | +€13,548 | +19.8% |
| Operating profit (loss) | 9901 | €31,551 | €44,055 | +€12,503 | +39.6% |
| Financial income | 75/76B | €506 | €340 | -€166 | -32.8% |
| Recurring financial income | 75 | €506 | €340 | -€166 | -32.8% |
| Financial charges | 65/66B | €2,320 | €2,694 | +€374 | +16.1% |
| Recurring financial charges | 65 | €2,320 | €2,694 | +€374 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | €29,738 | €41,701 | +€11,963 | +40.2% |
| Income taxes | 67/77 | €8,332 | €11,502 | +€3,171 | +38.1% |
| Profit (loss) for the period | 9904 | €21,406 | €30,199 | +€8,793 | +41.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,406 | €30,199 | +€8,793 | +41.1% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.