MAES BOUW: 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 BOUW
Largest movements
- Receivables within one year +€41,207
up €41,207 (+51.3%), from €80,333 to €121,540
of which Trade receivables: +€40,870
- Cash -€34,956
down €34,956 (-16.9%), from €207,006 to €172,050
mainly Other debts (-€183,829) and Receivables within one year (-€41,207)
- Stocks and contracts -€25,471
down €25,471 (-96.2%), from €26,471 to €1,000
of which Contracts in progress: -€25,471
- Tangible fixed assets -€13,931
down €13,931 (-33.2%), from €42,002 to €28,070
of which Furniture and vehicles: -€13,931
- Other debts -€183,829
down €183,829 (-96.3%), from €190,976 to €7,147
- Reserves +€97,861
up €97,861 (+90.1%), from €108,584 to €206,445
- Trade debts +€31,114
up €31,114 (+308%), from €10,101 to €41,215
- Tax, wage and social debts +€21,797
up €21,797 (+93.9%), from €23,203 to €45,000
of which Taxes: +€22,134
- Staff costs +€9,968
up €9,968 (+7.5%), from €132,887 to €142,854
- Gross operating margin -€5,308
down €5,308 (-1.8%), from €289,354 to €284,046
- Taxes -€2,899
down €2,899 (-9.0%), from €32,156 to €29,257
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 | €358,364 | €325,307 | -€33,058 | -9.2% |
| Fixed assets | 21/28 | €42,002 | €28,070 | -€13,931 | -33.2% |
| Tangible fixed assets | 22/27 | €42,002 | €28,070 | -€13,931 | -33.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €42,002 | €28,070 | -€13,931 | -33.2% |
| Current assets | 29/58 | €316,363 | €297,237 | -€19,126 | -6.0% |
| Stocks and contracts in progress | 3 | €26,471 | €1,000 | -€25,471 | -96.2% |
| Stocks | 30/36 | €1,000 | €1,000 | = | 0.0% |
| Contracts in progress | 37 | €25,471 | €0 | -€25,471 | -100% |
| Amounts receivable within one year | 40/41 | €80,333 | €121,540 | +€41,207 | +51.3% |
| Trade receivables | 40 | €80,116 | €120,987 | +€40,870 | +51.0% |
| Other amounts receivable | 41 | €217 | €554 | +€337 | +156% |
| Cash at bank and in hand | 54/58 | €207,006 | €172,050 | -€34,956 | -16.9% |
| Deferred charges and accrued income | 490/1 | €2,553 | €2,647 | +€94 | +3.7% |
| Total equity and liabilities | 10/49 | €358,364 | €325,307 | -€33,058 | -9.2% |
| Equity | 10/15 | €133,584 | €231,445 | +€97,861 | +73.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €108,584 | €206,445 | +€97,861 | +90.1% |
| Distributable reserves | 133 | €108,584 | €206,445 | +€97,861 | +90.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €224,780 | €93,862 | -€130,919 | -58.2% |
| Amounts payable within one year | 42/48 | €224,280 | €93,362 | -€130,919 | -58.4% |
| Trade debts | 44 | €10,101 | €41,215 | +€31,114 | +308% |
| Suppliers | 440/4 | €10,101 | €41,215 | +€31,114 | +308% |
| Taxes, remuneration and social security | 45 | €23,203 | €45,000 | +€21,797 | +93.9% |
| Taxes | 450/3 | €15,735 | €37,870 | +€22,134 | +141% |
| Remuneration and social security | 454/9 | €7,468 | €7,130 | -€338 | -4.5% |
| Other amounts payable | 47/48 | €190,976 | €7,147 | -€183,829 | -96.3% |
| Accrued charges and deferred income | 492/3 | €500 | €500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €132,887 | €142,854 | +€9,968 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,517 | €13,931 | -€2,585 | -15.7% |
| Other operating charges | 640/8 | €1,367 | €1,001 | -€366 | -26.8% |
| Gross operating margin | 9900 | €289,354 | €284,046 | -€5,308 | -1.8% |
| Operating profit (loss) | 9901 | €138,584 | €126,259 | -€12,324 | -8.9% |
| Financial income | 75/76B | €636 | €955 | +€319 | +50.1% |
| Recurring financial income | 75 | €636 | €955 | +€319 | +50.1% |
| Financial charges | 65/66B | €979 | €96 | -€883 | -90.2% |
| Recurring financial charges | 65 | €979 | €96 | -€883 | -90.2% |
| Profit (loss) for the period before taxes | 9903 | €138,240 | €127,118 | -€11,123 | -8.0% |
| Income taxes | 67/77 | €32,156 | €29,257 | -€2,899 | -9.0% |
| Profit (loss) for the period | 9904 | €106,084 | €97,861 | -€8,223 | -7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €106,084 | €97,861 | -€8,223 | -7.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.