Maes Hekwerken: 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 Hekwerken
Largest movements
- Deferred charges and accrued income +€5,681
up €5,681 (+2,823%), from €201 to €5,882
- Cash -€5,172
down €5,172 (-78.9%), from €6,554 to €1,382
mainly Net result for the year (-€7,740) and Trade debts (-€6,441)
- Receivables within one year +€5,085
up €5,085 (+77.9%), from €6,528 to €11,613
- Tangible fixed assets -€3,016
down €3,016 (-38.6%), from €7,811 to €4,796
of which Furniture and vehicles: -€2,755
- Other debts +€23,742
up €23,742 (+54.3%), from €43,751 to €67,493
- Reserves -€11,304
no longer reported in 2025 (was €11,304)
- Trade debts -€6,441
down €6,441 (-23.3%), from €27,593 to €21,152
- Tax, wage and social debts -€4,666
down €4,666 (-61.1%), from €7,632 to €2,966
of which Taxes: -€3,206
- Profit (loss) carried forward +€3,564
up €3,564 (+5.0%), from -€71,602 to -€68,038
- Gross operating margin +€45,828
up €45,828, from -€36,569 to €9,259
- Staff costs -€15,943
down €15,943 (-66.0%), from €24,162 to €8,219
- Other operating charges -€2,505
down €2,505 (-63.4%), from €3,954 to €1,449
- Financial charges +€1,655
up €1,655 (+67.4%), from €2,455 to €4,110
- Depreciation -€742
down €742 (-19.7%), from €3,757 to €3,016
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 | €21,094 | €23,673 | +€2,579 | +12.2% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €7,811 | €4,796 | -€3,016 | -38.6% |
| Tangible fixed assets | 22/27 | €7,811 | €4,796 | -€3,016 | -38.6% |
| Plant, machinery and equipment | 23 | €2,528 | €2,267 | -€261 | -10.3% |
| Furniture and vehicles | 24 | €5,283 | €2,528 | -€2,755 | -52.1% |
| Current assets | 29/58 | €13,283 | €18,877 | +€5,595 | +42.1% |
| Amounts receivable within one year | 40/41 | €6,528 | €11,613 | +€5,085 | +77.9% |
| Trade receivables | 40 | €6,528 | €11,613 | +€5,085 | +77.9% |
| Cash at bank and in hand | 54/58 | €6,554 | €1,382 | -€5,172 | -78.9% |
| Deferred charges and accrued income | 490/1 | €201 | €5,882 | +€5,681 | +2,823% |
| Total equity and liabilities | 10/49 | €21,094 | €23,673 | +€2,579 | +12.2% |
| Equity | 10/15 | -€60,198 | -€67,938 | -€7,740 | -12.9% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €11,304 | - | -€11,304 | |
| Distributable reserves | 133 | €11,304 | - | -€11,304 | |
| Profit (loss) carried forward | 14 | -€71,602 | -€68,038 | +€3,564 | +5.0% |
| Amounts payable | 17/49 | €81,292 | €91,611 | +€10,319 | +12.7% |
| Amounts payable within one year | 42/48 | €78,977 | €91,611 | +€12,634 | +16.0% |
| Trade debts | 44 | €27,593 | €21,152 | -€6,441 | -23.3% |
| Suppliers | 440/4 | €27,593 | €21,152 | -€6,441 | -23.3% |
| Taxes, remuneration and social security | 45 | €7,632 | €2,966 | -€4,666 | -61.1% |
| Taxes | 450/3 | €4,936 | €1,730 | -€3,206 | -65.0% |
| Remuneration and social security | 454/9 | €2,697 | €1,236 | -€1,460 | -54.2% |
| Other amounts payable | 47/48 | €43,751 | €67,493 | +€23,742 | +54.3% |
| Accrued charges and deferred income | 492/3 | €2,315 | - | -€2,315 | |
| Remuneration, social security and pensions | 62 | €24,162 | €8,219 | -€15,943 | -66.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,757 | €3,016 | -€742 | -19.7% |
| Other operating charges | 640/8 | €3,954 | €1,449 | -€2,505 | -63.4% |
| Gross operating margin | 9900 | -€36,569 | €9,259 | +€45,828 | |
| Operating profit (loss) | 9901 | -€68,442 | -€3,424 | +€65,018 | +95.0% |
| Financial income | 75/76B | €85 | €17 | -€68 | -79.5% |
| Recurring financial income | 75 | €85 | €17 | -€68 | -79.5% |
| Financial charges | 65/66B | €2,455 | €4,110 | +€1,655 | +67.4% |
| Recurring financial charges | 65 | €2,455 | €4,110 | +€1,655 | +67.4% |
| Profit (loss) for the period before taxes | 9903 | -€70,812 | -€7,517 | +€63,295 | +89.4% |
| Income taxes | 67/77 | €790 | €223 | -€567 | -71.8% |
| Profit (loss) for the period | 9904 | -€71,602 | -€7,740 | +€63,862 | +89.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€71,602 | -€7,740 | +€63,862 | +89.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.