MAENHOUT CONSTRUCT: what changed
Two fiscal 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 CONSTRUCT
Largest movements
- Cash +€4,403
up €4,403 (+143.4%), from €3,070 to €7,473
mainly Net result for the year (+€20,788) and Tax, wage and social debts (+€14,185)
- Tangible fixed assets +€3,553
up €3,553 (+2.0%), from €178,365 to €181,918
of which Plant, machinery and equipment: +€9,611
- Reserves +€20,788
up €20,788 (+74.9%), from €27,770 to €48,558
- Tax, wage and social debts +€14,185
up €14,185 (+201.0%), from €7,056 to €21,242
of which Taxes: +€13,035
- Debts after one year -€12,516
down €12,516 (-11.3%), from €110,651 to €98,135
- Trade debts -€7,882
down €7,882 (-74.3%), from €10,614 to €2,731
- Other debts -€7,550
no longer reported in 2025 (was €7,550)
- Other operating charges -€12,877
down €12,877 (-83.9%), from €15,347 to €2,469
- Financial income +€9,572
up €9,572 (+7433.4%), from €129 to €9,701
of which Non-recurring financial income: +€8,264
- Depreciation +€7,066
up €7,066 (+366.4%), from €1,928 to €8,994
- Gross operating margin -€4,370
down €4,370 (-9.1%), from €47,820 to €43,451
- Taxes +€3,676
up €3,676 (+52.1%), from €7,056 to €10,732
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.
Cash bridge derived
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 | €206,137 | €215,037 | +€8,900 | +4.3% |
| Fixed assets | 21/28 | €178,365 | €181,918 | +€3,553 | +2.0% |
| Tangible fixed assets | 22/27 | €178,365 | €181,918 | +€3,553 | +2.0% |
| Land and buildings | 22 | €169,434 | €163,684 | -€5,750 | -3.4% |
| Plant, machinery and equipment | 23 | €7,666 | €17,278 | +€9,611 | +125.4% |
| Furniture and vehicles | 24 | €1,265 | €956 | -€308 | -24.4% |
| Current assets | 29/58 | €27,772 | €33,119 | +€5,347 | +19.3% |
| Amounts receivable within one year | 40/41 | €24,702 | €23,954 | -€749 | -3.0% |
| Trade receivables | 40 | €18,826 | €21,078 | +€2,252 | +12.0% |
| Other amounts receivable | 41 | €5,876 | €2,875 | -€3,001 | -51.1% |
| Cash at bank and in hand | 54/58 | €3,070 | €7,473 | +€4,403 | +143.4% |
| Deferred charges and accrued income | 490/1 | - | €1,692 | +€1,692 | |
| Total equity and liabilities | 10/49 | €206,137 | €215,037 | +€8,900 | +4.3% |
| Equity | 10/15 | €54,843 | €75,631 | +€20,788 | +37.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €27,770 | €48,558 | +€20,788 | +74.9% |
| Distributable reserves | 133 | €27,770 | €48,558 | +€20,788 | +74.9% |
| Profit (loss) carried forward | 14 | €7,072 | €7,072 | = | 0.0% |
| Amounts payable | 17/49 | €151,295 | €139,406 | -€11,888 | -7.9% |
| Amounts payable after more than one year | 17 | €110,651 | €98,135 | -€12,516 | -11.3% |
| Financial debts | 170/4 | €110,651 | €98,135 | -€12,516 | -11.3% |
| Amounts payable within one year | 42/48 | €40,644 | €41,043 | +€399 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €11,529 | €12,516 | +€987 | +8.6% |
| Trade debts | 44 | €10,614 | €2,731 | -€7,882 | -74.3% |
| Suppliers | 440/4 | €10,614 | €2,731 | -€7,882 | -74.3% |
| Advances received on contracts in progress | 46 | €3,894 | €4,555 | +€660 | +16.9% |
| Taxes, remuneration and social security | 45 | €7,056 | €21,242 | +€14,185 | +201.0% |
| Taxes | 450/3 | €7,056 | €20,092 | +€13,035 | +184.7% |
| Remuneration and social security | 454/9 | - | €1,150 | +€1,150 | |
| Other amounts payable | 47/48 | €7,550 | - | -€7,550 | |
| Accrued charges and deferred income | 492/3 | - | €228 | +€228 | |
| Non-recurring operating income | 76A | €47 | - | -€47 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,928 | €8,994 | +€7,066 | +366.4% |
| Other operating charges | 640/8 | €15,347 | €2,469 | -€12,877 | -83.9% |
| Non-recurring operating charges | 66A | €185 | - | -€185 | |
| Gross operating margin | 9900 | €47,820 | €43,451 | -€4,370 | -9.1% |
| Operating profit (loss) | 9901 | €30,361 | €31,987 | +€1,626 | +5.4% |
| Financial income | 75/76B | €129 | €9,701 | +€9,572 | +7433.4% |
| Recurring financial income | 75 | €129 | €1,436 | +€1,308 | +1015.4% |
| Non-recurring financial income | 76B | - | €8,264 | +€8,264 | |
| Financial charges | 65/66B | €7,445 | €10,167 | +€2,722 | +36.6% |
| Recurring financial charges | 65 | €7,445 | €10,167 | +€2,722 | +36.6% |
| Profit (loss) for the period before taxes | 9903 | €23,044 | €31,520 | +€8,476 | +36.8% |
| Income taxes | 67/77 | €7,056 | €10,732 | +€3,676 | +52.1% |
| Profit (loss) for the period | 9904 | €15,988 | €20,788 | +€4,800 | +30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,988 | €20,788 | +€4,800 | +30.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.