MAES MACHINES: 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 MACHINES
Largest movements
- Receivables within one year -€110,373
down €110,373 (-33.8%), from €326,572 to €216,199
of which Trade receivables: -€110,373
- Cash -€96,706
down €96,706 (-28.1%), from €344,067 to €247,361
mainly Trade debts (-€165,549) and Accrued charges and deferred income (-€130,000)
- Stocks and contracts +€96,455
up €96,455 (+14.8%), from €650,454 to €746,909
- Tangible fixed assets -€33,678
down €33,678 (-36.8%), from €91,564 to €57,886
- Reserves +€166,334
up €166,334 (+45.3%), from €366,846 to €533,180
- Trade debts -€165,549
down €165,549 (-78.8%), from €209,956 to €44,407
- Accrued charges and deferred income -€130,000
down €130,000 (-100%), from €130,000 to €0
- Gross operating margin -€72,126
down €72,126 (-23.9%), from €302,197 to €230,071
- Taxes -€20,518
down €20,518 (-29.6%), from €69,388 to €48,870
- Financial income -€8,593
down €8,593 (-60.5%), from €14,196 to €5,603
- Write-downs +€7,000
up €7,000, from -€7,000 to €0
- Depreciation -€3,633
down €3,633 (-15.3%), from €23,733 to €20,100
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 | €1,412,658 | €1,268,356 | -€144,302 | -10.2% |
| Fixed assets | 21/28 | €91,564 | €57,886 | -€33,678 | -36.8% |
| Tangible fixed assets | 22/27 | €91,564 | €57,886 | -€33,678 | -36.8% |
| Plant, machinery and equipment | 23 | €91,564 | €57,886 | -€33,678 | -36.8% |
| Current assets | 29/58 | €1,321,093 | €1,210,469 | -€110,624 | -8.4% |
| Stocks and contracts in progress | 3 | €650,454 | €746,909 | +€96,455 | +14.8% |
| Stocks | 30/36 | €650,454 | €746,909 | +€96,455 | +14.8% |
| Amounts receivable within one year | 40/41 | €326,572 | €216,199 | -€110,373 | -33.8% |
| Trade receivables | 40 | €326,572 | €216,199 | -€110,373 | -33.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €344,067 | €247,361 | -€96,706 | -28.1% |
| Total equity and liabilities | 10/49 | €1,412,658 | €1,268,356 | -€144,302 | -10.2% |
| Equity | 10/15 | €367,846 | €534,180 | +€166,334 | +45.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €366,846 | €533,180 | +€166,334 | +45.3% |
| Distributable reserves | 133 | €366,846 | €533,180 | +€166,334 | +45.3% |
| Amounts payable | 17/49 | €1,044,812 | €734,176 | -€310,636 | -29.7% |
| Amounts payable within one year | 42/48 | €914,812 | €734,176 | -€180,636 | -19.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €209,956 | €44,407 | -€165,549 | -78.8% |
| Suppliers | 440/4 | €209,956 | €44,407 | -€165,549 | -78.8% |
| Advances received on contracts in progress | 46 | €33,500 | €40,000 | +€6,500 | +19.4% |
| Taxes, remuneration and social security | 45 | €148,340 | €138,111 | -€10,228 | -6.9% |
| Taxes | 450/3 | €148,340 | €138,111 | -€10,228 | -6.9% |
| Other amounts payable | 47/48 | €523,016 | €511,658 | -€11,359 | -2.2% |
| Accrued charges and deferred income | 492/3 | €130,000 | €0 | -€130,000 | -100% |
| Non-recurring operating income | 76A | - | €10,422 | +€10,422 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,733 | €20,100 | -€3,633 | -15.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,000 | €0 | +€7,000 | |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €302,197 | €230,071 | -€72,126 | -23.9% |
| Operating profit (loss) | 9901 | €285,338 | €209,843 | -€75,496 | -26.5% |
| Financial income | 75/76B | €14,196 | €5,603 | -€8,593 | -60.5% |
| Recurring financial income | 75 | €14,196 | €5,603 | -€8,593 | -60.5% |
| Financial charges | 65/66B | €2,604 | €242 | -€2,362 | -90.7% |
| Recurring financial charges | 65 | €2,604 | €242 | -€2,362 | -90.7% |
| Profit (loss) for the period before taxes | 9903 | €296,931 | €215,204 | -€81,727 | -27.5% |
| Income taxes | 67/77 | €69,388 | €48,870 | -€20,518 | -29.6% |
| Profit (loss) for the period | 9904 | €227,543 | €166,334 | -€61,209 | -26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €227,543 | €166,334 | -€61,209 | -26.9% |
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 15 October 2026 via checked.be.