MAENHOUT: 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.
MAENHOUT
Largest movements
- Tangible fixed assets -€74,419
down €74,419 (-4.7%), from €1.6m to €1.5m
of which Land and buildings: -€42,382
- Intangible fixed assets +€24,348
up €24,348 (+73.0%), from €33,356 to €57,704
- Cash -€23,148
down €23,148 (-36.7%), from €63,054 to €39,906
mainly Debts after one year (-€50,267) and Investment in fixed assets (net) (-€48,723)
- Debts after one year -€50,267
down €50,267 (-24.6%), from €204,502 to €154,235
- Trade debts -€27,361
down €27,361 (-51.9%), from €52,708 to €25,347
- Gross operating margin -€114,982
down €114,982 (-38.9%), from €295,667 to €180,685
- Staff costs -€66,979
down €66,979 (-99.4%), from €67,361 to €382
- Taxes -€18,994
down €18,994 (-56.0%), from €33,903 to €14,909
- Depreciation +€17,812
up €17,812 (+22.0%), from €80,982 to €98,794
- Financial charges +€5,286
up €5,286 (+46.6%), from €11,346 to €16,633
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 | €1,707,755 | €1,631,227 | -€76,527 | -4.5% |
| Fixed assets | 21/28 | €1,606,922 | €1,556,851 | -€50,071 | -3.1% |
| Intangible fixed assets | 21 | €33,356 | €57,704 | +€24,348 | +73.0% |
| Tangible fixed assets | 22/27 | €1,573,566 | €1,499,147 | -€74,419 | -4.7% |
| Land and buildings | 22 | €1,277,917 | €1,235,535 | -€42,382 | -3.3% |
| Plant, machinery and equipment | 23 | €136,014 | €126,661 | -€9,353 | -6.9% |
| Furniture and vehicles | 24 | €159,635 | €136,951 | -€22,684 | -14.2% |
| Current assets | 29/58 | €100,833 | €74,376 | -€26,456 | -26.2% |
| Amounts receivable within one year | 40/41 | €21,875 | €18,946 | -€2,929 | -13.4% |
| Trade receivables | 40 | €7,126 | €4,399 | -€2,726 | -38.3% |
| Other amounts receivable | 41 | €14,749 | €14,546 | -€203 | -1.4% |
| Cash at bank and in hand | 54/58 | €63,054 | €39,906 | -€23,148 | -36.7% |
| Deferred charges and accrued income | 490/1 | €15,904 | €15,525 | -€380 | -2.4% |
| Total equity and liabilities | 10/49 | €1,707,755 | €1,631,227 | -€76,527 | -4.5% |
| Equity | 10/15 | €1,052,968 | €1,055,671 | +€2,702 | +0.3% |
| Contributions | 10/11 | €367,345 | €367,345 | = | 0.0% |
| Reserves | 13 | €674,622 | €678,157 | +€3,535 | +0.5% |
| Non-distributable reserves | 130/1 | €7,890 | €7,890 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,890 | €7,890 | = | 0.0% |
| Distributable reserves | 133 | €666,732 | €670,268 | +€3,535 | +0.5% |
| Profit (loss) carried forward | 14 | €11,001 | €10,168 | -€833 | -7.6% |
| Amounts payable | 17/49 | €654,787 | €575,557 | -€79,230 | -12.1% |
| Amounts payable after more than one year | 17 | €204,502 | €154,235 | -€50,267 | -24.6% |
| Financial debts | 170/4 | €204,502 | €154,235 | -€50,267 | -24.6% |
| Amounts payable within one year | 42/48 | €445,593 | €411,390 | -€34,203 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €49,704 | €50,267 | +€562 | +1.1% |
| Trade debts | 44 | €52,708 | €25,347 | -€27,361 | -51.9% |
| Suppliers | 440/4 | €52,708 | €25,347 | -€27,361 | -51.9% |
| Advances received on contracts in progress | 46 | €250 | €0 | -€250 | -100% |
| Taxes, remuneration and social security | 45 | €8,669 | €7,819 | -€850 | -9.8% |
| Taxes | 450/3 | €3,383 | €4,223 | +€840 | +24.8% |
| Remuneration and social security | 454/9 | €5,285 | €3,595 | -€1,690 | -32.0% |
| Other amounts payable | 47/48 | €334,261 | €327,958 | -€6,303 | -1.9% |
| Accrued charges and deferred income | 492/3 | €4,692 | €9,931 | +€5,240 | +112% |
| Non-recurring operating income | 76A | €4,545 | €4,132 | -€413 | -9.1% |
| Remuneration, social security and pensions | 62 | €67,361 | €382 | -€66,979 | -99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,982 | €98,794 | +€17,812 | +22.0% |
| Other operating charges | 640/8 | €12,058 | €14,864 | +€2,805 | +23.3% |
| Gross operating margin | 9900 | €295,667 | €180,685 | -€114,982 | -38.9% |
| Operating profit (loss) | 9901 | €135,266 | €66,645 | -€68,621 | -50.7% |
| Financial income | 75/76B | €184 | €11 | -€173 | -93.9% |
| Recurring financial income | 75 | €184 | €11 | -€173 | -93.9% |
| Financial charges | 65/66B | €11,346 | €16,633 | +€5,286 | +46.6% |
| Recurring financial charges | 65 | €11,346 | €16,633 | +€5,286 | +46.6% |
| Profit (loss) for the period before taxes | 9903 | €124,104 | €50,024 | -€74,081 | -59.7% |
| Income taxes | 67/77 | €33,903 | €14,909 | -€18,994 | -56.0% |
| Profit (loss) for the period | 9904 | €90,201 | €35,115 | -€55,087 | -61.1% |
| Profit (loss) for the period to be appropriated | 9905 | €90,201 | €35,115 | -€55,087 | -61.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.