MAENHOUT DISTRIBUTIE: 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 DISTRIBUTIE
Largest movements
- Stocks and contracts +€48,232
up €48,232 (+32.4%), from €148,981 to €197,213
- Receivables within one year +€41,220
up €41,220 (+69.0%), from €59,753 to €100,973
of which Other amounts receivable: +€53,836
- Cash -€37,976
down €37,976 (-44.1%), from €86,185 to €48,209
mainly Net result for the year (-€75,836) and Stocks and contracts (-€48,232)
- Short-term financial debts +€156,000
new in 2025: €156,000
- Reserves -€75,836
down €75,836 (-27.2%), from €278,536 to €202,701
of which Distributable reserves: -€75,836
- Trade debts -€40,193
down €40,193 (-11.4%), from €352,604 to €312,411
- Gross operating margin -€53,973
down €53,973 (-20.1%), from €269,040 to €215,067
- Staff costs -€18,614
down €18,614 (-7.3%), from €253,274 to €234,660
- Financial charges +€12,007
up €12,007 (+141%), from €8,492 to €20,499
- Depreciation +€9,486
up €9,486 (+24.7%), from €38,414 to €47,899
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 | €1,010,495 | €1,053,477 | +€42,982 | +4.3% |
| Fixed assets | 21/28 | €224,784 | €224,460 | -€324 | -0.1% |
| Tangible fixed assets | 22/27 | €224,539 | €224,216 | -€324 | -0.1% |
| Land and buildings | 22 | €124,910 | €113,565 | -€11,346 | -9.1% |
| Plant, machinery and equipment | 23 | €84,973 | €67,847 | -€17,125 | -20.2% |
| Furniture and vehicles | 24 | €10,086 | €38,876 | +€28,790 | +285% |
| Other tangible fixed assets | 26 | €4,571 | €3,928 | -€643 | -14.1% |
| Financial fixed assets | 28 | €245 | €245 | = | 0.0% |
| Current assets | 29/58 | €785,712 | €829,017 | +€43,305 | +5.5% |
| Amounts receivable after more than one year | 29 | €471,500 | €471,500 | = | 0.0% |
| Other amounts receivable | 291 | €471,500 | €471,500 | = | 0.0% |
| Stocks and contracts in progress | 3 | €148,981 | €197,213 | +€48,232 | +32.4% |
| Stocks | 30/36 | €148,981 | €197,213 | +€48,232 | +32.4% |
| Amounts receivable within one year | 40/41 | €59,753 | €100,973 | +€41,220 | +69.0% |
| Trade receivables | 40 | €18,920 | €6,305 | -€12,615 | -66.7% |
| Other amounts receivable | 41 | €40,832 | €94,668 | +€53,836 | +132% |
| Cash at bank and in hand | 54/58 | €86,185 | €48,209 | -€37,976 | -44.1% |
| Deferred charges and accrued income | 490/1 | €19,293 | €11,122 | -€8,172 | -42.4% |
| Total equity and liabilities | 10/49 | €1,010,495 | €1,053,477 | +€42,982 | +4.3% |
| Equity | 10/15 | €520,742 | €444,907 | -€75,836 | -14.6% |
| Contributions | 10/11 | €242,206 | €242,206 | = | 0.0% |
| Reserves | 13 | €278,536 | €202,701 | -€75,836 | -27.2% |
| Tax-exempt reserves | 132 | €10,958 | €10,958 | = | 0.0% |
| Distributable reserves | 133 | €267,579 | €191,743 | -€75,836 | -28.3% |
| Amounts payable | 17/49 | €489,753 | €608,570 | +€118,817 | +24.3% |
| Amounts payable after more than one year | 17 | €80,160 | €88,315 | +€8,155 | +10.2% |
| Financial debts | 170/4 | €80,160 | €88,315 | +€8,155 | +10.2% |
| Amounts payable within one year | 42/48 | €409,593 | €520,146 | +€110,553 | +27.0% |
| Current portion of amounts payable after more than one year | 42 | €25,415 | €25,529 | +€114 | +0.4% |
| Financial debts | 43 | - | €156,000 | +€156,000 | |
| Credit institutions | 430/8 | - | €156,000 | +€156,000 | |
| Trade debts | 44 | €352,604 | €312,411 | -€40,193 | -11.4% |
| Suppliers | 440/4 | €352,604 | €312,411 | -€40,193 | -11.4% |
| Advances received on contracts in progress | 46 | €894 | €3,899 | +€3,006 | +336% |
| Taxes, remuneration and social security | 45 | €26,442 | €18,031 | -€8,412 | -31.8% |
| Taxes | 450/3 | €7,159 | €2,452 | -€4,707 | -65.7% |
| Remuneration and social security | 454/9 | €19,283 | €15,578 | -€3,705 | -19.2% |
| Other amounts payable | 47/48 | €4,238 | €4,276 | +€38 | +0.9% |
| Accrued charges and deferred income | 492/3 | - | €110 | +€110 | |
| Non-recurring operating income | 76A | €413 | €2,479 | +€2,066 | +500% |
| Remuneration, social security and pensions | 62 | €253,274 | €234,660 | -€18,614 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,414 | €47,899 | +€9,486 | +24.7% |
| Other operating charges | 640/8 | €12,644 | €13,443 | +€799 | +6.3% |
| Non-recurring operating charges | 66A | €303 | €83 | -€220 | -72.8% |
| Gross operating margin | 9900 | €269,040 | €215,067 | -€53,973 | -20.1% |
| Operating profit (loss) | 9901 | -€35,594 | -€81,018 | -€45,424 | -128% |
| Financial income | 75/76B | €23,626 | €25,681 | +€2,055 | +8.7% |
| Recurring financial income | 75 | €23,626 | €25,681 | +€2,055 | +8.7% |
| Financial charges | 65/66B | €8,492 | €20,499 | +€12,007 | +141% |
| Recurring financial charges | 65 | €8,492 | €20,499 | +€12,007 | +141% |
| Profit (loss) for the period before taxes | 9903 | -€20,460 | -€75,836 | -€55,376 | -271% |
| Profit (loss) for the period | 9904 | -€20,460 | -€75,836 | -€55,376 | -271% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,460 | -€75,836 | -€55,376 | -271% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.