Maes Concept Immo: 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 Concept Immo
Largest movements
- Stocks and contracts -€513,150
down €513,150 (-100%), from €513,150 to €0
- Tangible fixed assets -€52,239
down €52,239 (-17.2%), from €303,888 to €251,649
- Receivables within one year -€45,666
down €45,666 (-4.9%), from €934,166 to €888,500
of which Other amounts receivable: -€134,613
- Debts after one year -€413,463
down €413,463 (-66.4%), from €622,497 to €209,034
- Reserves -€176,167
down €176,167 (-43.1%), from €408,630 to €232,463
of which Distributable reserves: -€176,167
- Tax, wage and social debts +€125,095
up €125,095 (+533%), from €23,458 to €148,553
of which Taxes: +€133,676
- Trade debts -€107,883
down €107,883 (-68.6%), from €157,227 to €49,344
- Other debts -€18,560
down €18,560 (-4.0%), from €461,658 to €443,098
- Gross operating margin -€20,505
down €20,505 (-8.3%), from €245,569 to €225,064
- Financial charges -€19,545
down €19,545 (-24.3%), from €80,281 to €60,737
- Staff costs -€14,157
down €14,157 (-11.9%), from €119,409 to €105,252
- Write-downs +€6,197
new in 2025: €6,197
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 | €1,823,624 | €1,221,357 | -€602,266 | -33.0% |
| Fixed assets | 21/28 | €305,588 | €253,349 | -€52,239 | -17.1% |
| Tangible fixed assets | 22/27 | €303,888 | €251,649 | -€52,239 | -17.2% |
| Land and buildings | 22 | €112,318 | €101,694 | -€10,624 | -9.5% |
| Plant, machinery and equipment | 23 | €6,154 | €4,292 | -€1,862 | -30.3% |
| Furniture and vehicles | 24 | €35,783 | €19,663 | -€16,120 | -45.1% |
| Other tangible fixed assets | 26 | €149,634 | €126,002 | -€23,632 | -15.8% |
| Financial fixed assets | 28 | €1,700 | €1,700 | = | 0.0% |
| Current assets | 29/58 | €1,518,035 | €968,008 | -€550,028 | -36.2% |
| Stocks and contracts in progress | 3 | €513,150 | €0 | -€513,150 | -100% |
| Stocks | 30/36 | €513,150 | €0 | -€513,150 | -100% |
| Amounts receivable within one year | 40/41 | €934,166 | €888,500 | -€45,666 | -4.9% |
| Trade receivables | 40 | €55,075 | €144,022 | +€88,947 | +162% |
| Other amounts receivable | 41 | €879,091 | €744,478 | -€134,613 | -15.3% |
| Current investments | 50/53 | €1,150 | €1,150 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €61,035 | €72,728 | +€11,692 | +19.2% |
| Deferred charges and accrued income | 490/1 | €8,534 | €5,630 | -€2,904 | -34.0% |
| Total equity and liabilities | 10/49 | €1,823,624 | €1,221,357 | -€602,266 | -33.0% |
| Equity | 10/15 | €433,630 | €257,463 | -€176,167 | -40.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €408,630 | €232,463 | -€176,167 | -43.1% |
| Tax-exempt reserves | 132 | €690 | €690 | = | 0.0% |
| Distributable reserves | 133 | €407,941 | €231,774 | -€176,167 | -43.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,389,993 | €963,894 | -€426,099 | -30.7% |
| Amounts payable after more than one year | 17 | €622,497 | €209,034 | -€413,463 | -66.4% |
| Financial debts | 170/4 | €622,497 | €209,034 | -€413,463 | -66.4% |
| Amounts payable within one year | 42/48 | €765,396 | €754,860 | -€10,536 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €73,054 | €63,865 | -€9,189 | -12.6% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €157,227 | €49,344 | -€107,883 | -68.6% |
| Suppliers | 440/4 | €157,227 | €49,344 | -€107,883 | -68.6% |
| Taxes, remuneration and social security | 45 | €23,458 | €148,553 | +€125,095 | +533% |
| Taxes | 450/3 | €13,432 | €147,108 | +€133,676 | +995% |
| Remuneration and social security | 454/9 | €10,026 | €1,445 | -€8,581 | -85.6% |
| Other amounts payable | 47/48 | €461,658 | €443,098 | -€18,560 | -4.0% |
| Accrued charges and deferred income | 492/3 | €2,100 | €0 | -€2,100 | -100% |
| Non-recurring operating income | 76A | €41,414 | €6,050 | -€35,365 | -85.4% |
| Remuneration, social security and pensions | 62 | €119,409 | €105,252 | -€14,157 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,378 | €51,771 | -€1,606 | -3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,197 | +€6,197 | |
| Other operating charges | 640/8 | €3,987 | €3,494 | -€493 | -12.4% |
| Gross operating margin | 9900 | €245,569 | €225,064 | -€20,505 | -8.3% |
| Operating profit (loss) | 9901 | €68,795 | €58,349 | -€10,446 | -15.2% |
| Financial income | 75/76B | €18,267 | €19,885 | +€1,618 | +8.9% |
| Recurring financial income | 75 | €18,267 | €19,285 | +€1,018 | +5.6% |
| Non-recurring financial income | 76B | - | €600 | +€600 | |
| Financial charges | 65/66B | €80,281 | €60,737 | -€19,545 | -24.3% |
| Recurring financial charges | 65 | €80,281 | €60,737 | -€19,545 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €6,781 | €17,498 | +€10,717 | +158% |
| Income taxes | 67/77 | €5,761 | €8,039 | +€2,278 | +39.5% |
| Profit (loss) for the period | 9904 | €1,020 | €9,459 | +€8,439 | +827% |
| Profit (loss) for the period to be appropriated | 9905 | €1,020 | €9,459 | +€8,439 | +827% |
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 21 October 2026 via checked.be.