MAES BERNARD: 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.
MAES BERNARD
Largest movements
- Receivables after one year +€260,000
new in 2025: €260,000
- Cash -€177,085
down €177,085 (-50.9%), from €348,135 to €171,050
mainly Receivables after one year (-€260,000) and Contributions, distributions and other (-€100,000)
- Receivables within one year +€11,343
up €11,343 (+80.2%), from €14,151 to €25,494
of which Other amounts receivable: +€11,437
- Reserves +€67,561
up €67,561 (+17.3%), from €391,450 to €459,011
of which Distributable reserves: +€76,861
- Other debts +€13,529
up €13,529 (+11.0%), from €122,726 to €136,255
- Tax, wage and social debts +€9,490
up €9,490 (+64.7%), from €14,657 to €24,147
of which Taxes: +€7,190
- Gross operating margin +€29,246
up €29,246 (+13.8%), from €211,483 to €240,730
- Other operating charges -€7,569
down €7,569 (-35.4%), from €21,387 to €13,818
- Financial income +€5,528
up €5,528 (+185%), from €2,989 to €8,518
- Taxes -€3,187
down €3,187 (-6.0%), from €52,707 to €49,520
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 | €645,911 | €737,533 | +€91,622 | +14.2% |
| Fixed assets | 21/28 | €21,095 | €16,006 | -€5,088 | -24.1% |
| Tangible fixed assets | 22/27 | €21,095 | €16,006 | -€5,088 | -24.1% |
| Plant, machinery and equipment | 23 | €709 | €200 | -€509 | -71.8% |
| Furniture and vehicles | 24 | €6,727 | €3,975 | -€2,753 | -40.9% |
| Other tangible fixed assets | 26 | €13,658 | €11,832 | -€1,826 | -13.4% |
| Current assets | 29/58 | €624,816 | €721,527 | +€96,710 | +15.5% |
| Amounts receivable after more than one year | 29 | - | €260,000 | +€260,000 | |
| Other amounts receivable | 291 | - | €260,000 | +€260,000 | |
| Amounts receivable within one year | 40/41 | €14,151 | €25,494 | +€11,343 | +80.2% |
| Trade receivables | 40 | €94 | - | -€94 | |
| Other amounts receivable | 41 | €14,057 | €25,494 | +€11,437 | +81.4% |
| Current investments | 50/53 | €259,250 | €262,052 | +€2,802 | +1.1% |
| Cash at bank and in hand | 54/58 | €348,135 | €171,050 | -€177,085 | -50.9% |
| Deferred charges and accrued income | 490/1 | €3,281 | €2,930 | -€350 | -10.7% |
| Total equity and liabilities | 10/49 | €645,911 | €737,533 | +€91,622 | +14.2% |
| Equity | 10/15 | €484,450 | €552,011 | +€67,561 | +13.9% |
| Contributions | 10/11 | €93,000 | €93,000 | = | 0.0% |
| Contributions outside capital | 11 | €93,000 | €93,000 | = | 0.0% |
| Other | 1109/19 | €93,000 | €93,000 | = | 0.0% |
| Reserves | 13 | €391,450 | €459,011 | +€67,561 | +17.3% |
| Non-distributable reserves | 130/1 | €9,300 | - | -€9,300 | |
| Legal reserve | 130 | €9,300 | - | -€9,300 | |
| Tax-exempt reserves | 132 | €42,100 | €42,100 | = | 0.0% |
| Distributable reserves | 133 | €340,050 | €416,911 | +€76,861 | +22.6% |
| Provisions and deferred taxes | 16 | €16,234 | €16,234 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €16,234 | €16,234 | = | 0.0% |
| Pensions and similar obligations | 160 | €16,234 | €16,234 | = | 0.0% |
| Amounts payable | 17/49 | €145,228 | €169,289 | +€24,061 | +16.6% |
| Amounts payable within one year | 42/48 | €137,383 | €161,722 | +€24,339 | +17.7% |
| Trade debts | 44 | - | €1,321 | +€1,321 | |
| Suppliers | 440/4 | - | €1,321 | +€1,321 | |
| Taxes, remuneration and social security | 45 | €14,657 | €24,147 | +€9,490 | +64.7% |
| Taxes | 450/3 | €14,657 | €21,847 | +€7,190 | +49.1% |
| Remuneration and social security | 454/9 | - | €2,300 | +€2,300 | |
| Other amounts payable | 47/48 | €122,726 | €136,255 | +€13,529 | +11.0% |
| Accrued charges and deferred income | 492/3 | €7,845 | €7,567 | -€278 | -3.5% |
| Non-recurring operating income | 76A | - | €10,256 | +€10,256 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,152 | €9,832 | -€2,320 | -19.1% |
| Other operating charges | 640/8 | €21,387 | €13,818 | -€7,569 | -35.4% |
| Gross operating margin | 9900 | €211,483 | €240,730 | +€29,246 | +13.8% |
| Operating profit (loss) | 9901 | €177,945 | €217,080 | +€39,135 | +22.0% |
| Financial income | 75/76B | €2,989 | €8,518 | +€5,528 | +185% |
| Recurring financial income | 75 | €2,989 | €8,518 | +€5,528 | +185% |
| Financial charges | 65/66B | €8,577 | €8,516 | -€60 | -0.7% |
| Recurring financial charges | 65 | €8,577 | €8,516 | -€60 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €172,358 | €217,081 | +€44,724 | +25.9% |
| Income taxes | 67/77 | €52,707 | €49,520 | -€3,187 | -6.0% |
| Profit (loss) for the period | 9904 | €119,650 | €167,561 | +€47,910 | +40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €119,650 | €167,561 | +€47,910 | +40.0% |
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 15 October 2026 via checked.be.