MAES INDUSTRIES: 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 INDUSTRIES
Largest movements
- Cash +€296,335
up €296,335 (+11,570%), from €2,561 to €298,896
mainly Investment in fixed assets (net) (+€256,190) and Net result for the year (+€68,288)
- Tangible fixed assets -€273,311
down €273,311 (-35.3%), from €774,968 to €501,657
- Reserves +€68,288
up €68,288 (+17.1%), from €398,945 to €467,233
of which Distributable reserves: +€191,934
- Provisions -€51,937
down €51,937 (-49.6%), from €104,718 to €52,781
- Tax, wage and social debts +€19,193
new in 2025: €19,193
- Debts after one year -€9,755
down €9,755 (-12.6%), from €77,212 to €67,457
- Gross operating margin +€44,725
up €44,725 (+277%), from €16,156 to €60,881
- Taxes +€19,193
new in 2025: €19,193
- Depreciation -€9,015
down €9,015 (-34.5%), from €26,135 to €17,120
- Financial charges -€1,117
down €1,117 (-41.5%), from €2,694 to €1,577
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 | €779,562 | €803,390 | +€23,828 | +3.1% |
| Fixed assets | 21/28 | €774,968 | €501,657 | -€273,311 | -35.3% |
| Tangible fixed assets | 22/27 | €774,968 | €501,657 | -€273,311 | -35.3% |
| Land and buildings | 22 | €774,968 | €501,657 | -€273,311 | -35.3% |
| Current assets | 29/58 | €4,594 | €301,733 | +€297,138 | +6,467% |
| Amounts receivable within one year | 40/41 | €726 | €871 | +€145 | +20.0% |
| Trade receivables | 40 | €726 | €871 | +€145 | +20.0% |
| Cash at bank and in hand | 54/58 | €2,561 | €298,896 | +€296,335 | +11,570% |
| Deferred charges and accrued income | 490/1 | €1,307 | €1,966 | +€659 | +50.4% |
| Total equity and liabilities | 10/49 | €779,562 | €803,390 | +€23,828 | +3.1% |
| Equity | 10/15 | €497,271 | €565,559 | +€68,288 | +13.7% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Capital | 10 | €80,000 | €80,000 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Revaluation surpluses | 12 | €18,326 | €18,326 | = | 0.0% |
| Reserves | 13 | €398,945 | €467,233 | +€68,288 | +17.1% |
| Non-distributable reserves | 130/1 | €58,000 | €58,000 | = | 0.0% |
| Legal reserve | 130 | €58,000 | €58,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €249,299 | €125,653 | -€123,646 | -49.6% |
| Distributable reserves | 133 | €91,646 | €283,580 | +€191,934 | +209% |
| Provisions and deferred taxes | 16 | €104,718 | €52,781 | -€51,937 | -49.6% |
| Deferred taxes | 168 | €104,718 | €52,781 | -€51,937 | -49.6% |
| Amounts payable | 17/49 | €177,573 | €185,050 | +€7,477 | +4.2% |
| Amounts payable after more than one year | 17 | €77,212 | €67,457 | -€9,755 | -12.6% |
| Financial debts | 170/4 | €77,212 | €67,457 | -€9,755 | -12.6% |
| Amounts payable within one year | 42/48 | €100,361 | €117,593 | +€17,232 | +17.2% |
| Current portion of amounts payable after more than one year | 42 | €9,677 | €9,755 | +€77 | +0.8% |
| Trade debts | 44 | €5,328 | €1,813 | -€3,515 | -66.0% |
| Suppliers | 440/4 | €5,328 | €1,813 | -€3,515 | -66.0% |
| Taxes, remuneration and social security | 45 | - | €19,193 | +€19,193 | |
| Taxes | 450/3 | - | €19,193 | +€19,193 | |
| Other amounts payable | 47/48 | €85,356 | €86,831 | +€1,476 | +1.7% |
| Non-recurring operating income | 76A | - | €93,809 | +€93,809 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,135 | €17,120 | -€9,015 | -34.5% |
| Other operating charges | 640/8 | €6,501 | €6,639 | +€138 | +2.1% |
| Gross operating margin | 9900 | €16,156 | €60,881 | +€44,725 | +277% |
| Operating profit (loss) | 9901 | -€16,480 | €37,122 | +€53,602 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,694 | €1,577 | -€1,117 | -41.5% |
| Recurring financial charges | 65 | €2,694 | €1,577 | -€1,117 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | -€19,174 | €35,544 | +€54,719 | |
| Transfer from deferred taxes | 780 | €4,047 | €51,937 | +€47,891 | +1,183% |
| Income taxes | 67/77 | - | €19,193 | +€19,193 | |
| Profit (loss) for the period | 9904 | -€15,128 | €68,288 | +€83,416 | |
| Transfer from tax-exempt reserves | 789 | €9,634 | €123,646 | +€114,012 | +1,183% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,494 | €191,934 | +€197,428 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.