Maes Business: 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 Business
Largest movements
- Receivables within one year -€4,223
down €4,223 (-37.7%), from €11,213 to €6,990
of which Trade receivables: -€10,950
- Cash -€2,674
down €2,674 (-2.6%), from €101,557 to €98,883
mainly Tax, wage and social debts (-€14,225) and Investment in fixed assets (net) (-€3,464)
- Tax, wage and social debts -€14,225
down €14,225 (-38.1%), from €37,364 to €23,139
- Profit (loss) carried forward +€5,659
up €5,659 (+14.5%), from €38,910 to €44,569
- Trade debts +€1,863
up €1,863 (+77.7%), from €2,398 to €4,261
- Gross operating margin -€30,598
down €30,598 (-60.3%), from €50,781 to €20,184
- Other operating charges +€7,941
up €7,941 (+734%), from €1,082 to €9,024
- Taxes -€7,345
down €7,345 (-68.4%), from €10,744 to €3,399
- Depreciation +€2,468
up €2,468 (+332%), from €743 to €3,211
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 | €138,731 | €132,028 | -€6,703 | -4.8% |
| Fixed assets | 21/28 | €25,539 | €25,793 | +€253 | +1.0% |
| Tangible fixed assets | 22/27 | €25,539 | €25,793 | +€253 | +1.0% |
| Land and buildings | 22 | - | €24,010 | +€24,010 | |
| Furniture and vehicles | 24 | €2,526 | €1,783 | -€743 | -29.4% |
| Assets under construction and advance payments | 27 | €23,013 | - | -€23,013 | |
| Current assets | 29/58 | €113,192 | €106,236 | -€6,957 | -6.1% |
| Amounts receivable within one year | 40/41 | €11,213 | €6,990 | -€4,223 | -37.7% |
| Trade receivables | 40 | €10,950 | - | -€10,950 | |
| Other amounts receivable | 41 | €263 | €6,990 | +€6,727 | +2,555% |
| Cash at bank and in hand | 54/58 | €101,557 | €98,883 | -€2,674 | -2.6% |
| Deferred charges and accrued income | 490/1 | €421 | €362 | -€59 | -14.0% |
| Total equity and liabilities | 10/49 | €138,731 | €132,028 | -€6,703 | -4.8% |
| Equity | 10/15 | €98,969 | €104,628 | +€5,659 | +5.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €55,059 | €55,059 | = | 0.0% |
| Distributable reserves | 133 | €55,059 | €55,059 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,910 | €44,569 | +€5,659 | +14.5% |
| Amounts payable | 17/49 | €39,762 | €27,400 | -€12,362 | -31.1% |
| Amounts payable within one year | 42/48 | €39,762 | €27,400 | -€12,362 | -31.1% |
| Trade debts | 44 | €2,398 | €4,261 | +€1,863 | +77.7% |
| Suppliers | 440/4 | €2,398 | €4,261 | +€1,863 | +77.7% |
| Taxes, remuneration and social security | 45 | €37,364 | €23,139 | -€14,225 | -38.1% |
| Taxes | 450/3 | €37,364 | €23,139 | -€14,225 | -38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €743 | €3,211 | +€2,468 | +332% |
| Other operating charges | 640/8 | €1,082 | €9,024 | +€7,941 | +734% |
| Gross operating margin | 9900 | €50,781 | €20,184 | -€30,598 | -60.3% |
| Operating profit (loss) | 9901 | €48,956 | €7,949 | -€41,007 | -83.8% |
| Financial income | 75/76B | €707 | €1,109 | +€401 | +56.7% |
| Recurring financial income | 75 | €707 | €1,109 | +€401 | +56.7% |
| Financial charges | 65/66B | €9 | - | -€9 | |
| Recurring financial charges | 65 | €9 | - | -€9 | |
| Profit (loss) for the period before taxes | 9903 | €49,654 | €9,058 | -€40,597 | -81.8% |
| Income taxes | 67/77 | €10,744 | €3,399 | -€7,345 | -68.4% |
| Profit (loss) for the period | 9904 | €38,910 | €5,659 | -€33,251 | -85.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,910 | €5,659 | -€33,251 | -85.5% |
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 30 October 2026 via checked.be.