MAES EN CO: what changed
What changed
MAES EN CO
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
-€8,823
2024 · €17,064-€25,887
Equity
€3.2m
2024 · €3.2m-€8,823
Cash
€1,089
2024 · €21,978-€20,889
Balance sheet total
€8.9m
2024 · €9.1m-€195,550
Largest movements
Assets
- Tangible fixed assets -€121,021
down €121,021 (-1.6%), from €7.6m to €7.5m
of which Land and buildings: -€78,740
Equity and liabilities
- Advances received +€401,535
new in 2025: €401,535
- Trade debts -€369,785
down €369,785 (-99.1%), from €373,321 to €3,535
- Debts after one year -€149,059
down €149,059 (-8.6%), from €1.7m to €1.6m
Income statement
- Turnover -€246,727
no longer reported in 2025 (was €246,727)
- Gross operating margin +€181,661
new in 2025: €181,661
- Services and other goods -€124,634
no longer reported in 2025 (was €124,634)
- Other operating income -€61,817
no longer reported in 2025 (was €61,817)
- Depreciation +€40,597
up €40,597 (+38.1%), from €106,467 to €147,064
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€17,064
Turnover
-€246,727
Other operating income
-€61,817
Services and other goods
+€124,634
Depreciation
-€40,597
Other operating charges
+€5,012
Other operating items
+€181,661
Financial income
-€2,678
Financial charges
+€7,184
Taxes
+€7,442
Result 2025
-€8,823
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€69,841
Investment
+€54,192
Financing
-€144,921
Cash 2024
€21,978
From operations (derived)
+€69,841
Net result for the year
-€8,823
Depreciation
+€147,064
Receivables within one year
-€3,792
Deferred charges and accrued income
-€22,802
Trade debts
-€369,785
Tax, wage and social debts
-€3,809
Advances received
+€401,535
Other debts
-€69,755
Accrued charges and deferred income
+€9
Investment (derived)
+€54,192
Investment in fixed assets (net)
+€54,192
Financing
-€144,921
Debts after one year
-€149,059
Current portion of long-term debt
+€4,137
Cash 2025
€1,089
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,119,559 | €8,924,008 | -€195,550 | -2.1% |
| Fixed assets | 21/28 | €8,907,230 | €8,705,974 | -€201,255 | -2.3% |
| Tangible fixed assets | 22/27 | €7,606,814 | €7,485,794 | -€121,021 | -1.6% |
| Land and buildings | 22 | €7,557,743 | €7,479,003 | -€78,740 | -1.0% |
| Plant, machinery and equipment | 23 | €374 | €6,790 | +€6,417 | +1,717% |
| Assets under construction and advance payments | 27 | €48,698 | €0 | -€48,698 | -100% |
| Financial fixed assets | 28 | €1,300,415 | €1,220,181 | -€80,235 | -6.2% |
| Other financial fixed assets | 284/8 | €1,300,415 | - | -€1.3m | |
| Amounts receivable and cash guarantees | 285/8 | €1,300,415 | - | -€1.3m | |
| Current assets | 29/58 | €212,329 | €218,034 | +€5,705 | +2.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €183,108 | €186,900 | +€3,792 | +2.1% |
| Other amounts receivable | 41 | €183,108 | €186,900 | +€3,792 | +2.1% |
| Cash at bank and in hand | 54/58 | €21,978 | €1,089 | -€20,889 | -95.0% |
| Deferred charges and accrued income | 490/1 | €7,243 | €30,045 | +€22,802 | +315% |
| Total equity and liabilities | 10/49 | €9,119,559 | €8,924,008 | -€195,550 | -2.1% |
| Equity | 10/15 | €3,234,621 | €3,225,798 | -€8,823 | -0.3% |
| Contributions | 10/11 | €262,908 | €262,908 | = | 0.0% |
| Revaluation surpluses | 12 | €2,165,708 | €2,165,708 | = | 0.0% |
| Reserves | 13 | €806,005 | €797,182 | -€8,823 | -1.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €806,005 | €797,182 | -€8,823 | -1.1% |
| Amounts payable | 17/49 | €5,884,938 | €5,698,211 | -€186,727 | -3.2% |
| Amounts payable after more than one year | 17 | €1,736,611 | €1,587,552 | -€149,059 | -8.6% |
| Financial debts | 170/4 | €1,736,611 | €1,587,552 | -€149,059 | -8.6% |
| Credit institutions | 173 | €1,736,611 | - | -€1.7m | |
| Amounts payable within one year | 42/48 | €4,143,252 | €4,105,575 | -€37,678 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €144,921 | €149,059 | +€4,137 | +2.9% |
| Trade debts | 44 | €373,321 | €3,535 | -€369,785 | -99.1% |
| Suppliers | 440/4 | €373,321 | €3,535 | -€369,785 | -99.1% |
| Advances received on contracts in progress | 46 | - | €401,535 | +€401,535 | |
| Taxes, remuneration and social security | 45 | €3,902 | €93 | -€3,809 | -97.6% |
| Taxes | 450/3 | €3,902 | €93 | -€3,809 | -97.6% |
| Other amounts payable | 47/48 | €3,621,108 | €3,551,353 | -€69,755 | -1.9% |
| Accrued charges and deferred income | 492/3 | €5,075 | €5,084 | +€9 | +0.2% |
| Operating income | 70/76A | €308,544 | - | -€308,544 | |
| Turnover | 70 | €246,727 | - | -€246,727 | |
| Other operating income | 74 | €61,817 | - | -€61,817 | |
| Operating charges | 60/66A | €268,743 | - | -€268,743 | |
| Services and other goods | 61 | €124,634 | - | -€124,634 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,467 | €147,064 | +€40,597 | +38.1% |
| Other operating charges | 640/8 | €37,643 | €32,631 | -€5,012 | -13.3% |
| Gross operating margin | 9900 | - | €181,661 | +€181,661 | |
| Operating profit (loss) | 9901 | €39,801 | €1,967 | -€37,835 | -95.1% |
| Financial income | 75/76B | €50,745 | €48,066 | -€2,678 | -5.3% |
| Recurring financial income | 75 | €50,745 | €48,066 | -€2,678 | -5.3% |
| Income from current assets | 751 | €50,745 | - | -€50,745 | |
| Financial charges | 65/66B | €66,040 | €58,856 | -€7,184 | -10.9% |
| Recurring financial charges | 65 | €66,040 | €58,856 | -€7,184 | -10.9% |
| Debt charges | 650 | €64,442 | - | -€64,442 | |
| Other financial charges | 652/9 | €1,598 | - | -€1,598 | |
| Profit (loss) for the period before taxes | 9903 | €24,506 | -€8,823 | -€33,329 | |
| Income taxes | 67/77 | €7,442 | €0 | -€7,442 | -100% |
| Taxes | 670/3 | €7,442 | - | -€7,442 | |
| Profit (loss) for the period | 9904 | €17,064 | -€8,823 | -€25,887 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,064 | -€8,823 | -€25,887 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 29 February 2024 and 28 February 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.