MAES GINO: what changed
Two fiscal 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 GINO
Largest movements
- Cash +€89,247
up €89,247 (+23.5%), from €379,914 to €469,160
mainly Net result for the year (+€60,539) and Tax, wage and social debts (+€24,458)
- Reserves +€60,539
up €60,539 (+15.5%), from €391,487 to €452,026
- Tax, wage and social debts +€24,458
up €24,458 (+132.6%), from €18,451 to €42,910
of which Remuneration and social security: +€15,120
- Trade debts +€5,821
up €5,821 (+2373.8%), from €245 to €6,066
- Taxes +€4,889
up €4,889 (+20.4%), from €23,950 to €28,839
- Gross operating margin +€2,916
up €2,916 (+3.3%), from €88,127 to €91,042
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.
Cash bridge derived
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 | €448,937 | €537,248 | +€88,311 | +19.7% |
| Fixed assets | 21/28 | €503 | €252 | -€252 | -50.0% |
| Tangible fixed assets | 22/27 | €503 | €252 | -€252 | -50.0% |
| Plant, machinery and equipment | 23 | €503 | €252 | -€252 | -50.0% |
| Current assets | 29/58 | €448,434 | €536,996 | +€88,562 | +19.7% |
| Amounts receivable within one year | 40/41 | €68,520 | €66,162 | -€2,358 | -3.4% |
| Trade receivables | 40 | €56,905 | €59,566 | +€2,661 | +4.7% |
| Other amounts receivable | 41 | €11,615 | €6,597 | -€5,018 | -43.2% |
| Cash at bank and in hand | 54/58 | €379,914 | €469,160 | +€89,247 | +23.5% |
| Deferred charges and accrued income | 490/1 | - | €1,673 | +€1,673 | |
| Total equity and liabilities | 10/49 | €448,937 | €537,248 | +€88,311 | +19.7% |
| Equity | 10/15 | €410,087 | €470,626 | +€60,539 | +14.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €391,487 | €452,026 | +€60,539 | +15.5% |
| Distributable reserves | 133 | €391,487 | €452,026 | +€60,539 | +15.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €38,850 | €66,622 | +€27,772 | +71.5% |
| Amounts payable within one year | 42/48 | €38,850 | €66,622 | +€27,772 | +71.5% |
| Trade debts | 44 | €245 | €6,066 | +€5,821 | +2373.8% |
| Suppliers | 440/4 | €245 | €6,066 | +€5,821 | +2373.8% |
| Taxes, remuneration and social security | 45 | €18,451 | €42,910 | +€24,458 | +132.6% |
| Taxes | 450/3 | €18,451 | €27,790 | +€9,338 | +50.6% |
| Remuneration and social security | 454/9 | - | €15,120 | +€15,120 | |
| Other amounts payable | 47/48 | €20,153 | €17,646 | -€2,507 | -12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €252 | €252 | = | 0.0% |
| Other operating charges | 640/8 | €1,219 | €1,357 | +€138 | +11.3% |
| Gross operating margin | 9900 | €88,127 | €91,042 | +€2,916 | +3.3% |
| Operating profit (loss) | 9901 | €86,656 | €89,434 | +€2,777 | +3.2% |
| Financial income | 75/76B | €56 | €222 | +€166 | +294.2% |
| Recurring financial income | 75 | €56 | €222 | +€166 | +294.2% |
| Financial charges | 65/66B | €225 | €278 | +€53 | +23.3% |
| Recurring financial charges | 65 | €225 | €278 | +€53 | +23.3% |
| Profit (loss) for the period before taxes | 9903 | €86,487 | €89,378 | +€2,891 | +3.3% |
| Income taxes | 67/77 | €23,950 | €28,839 | +€4,889 | +20.4% |
| Profit (loss) for the period | 9904 | €62,537 | €60,539 | -€1,998 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €62,537 | €60,539 | -€1,998 | -3.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.