MAES METAL: what changed
What changed
MAES METAL
NACE 25.999, Manufacture of fabricated metal products, except machinery and equipment
filed annual accounts (NBB)
Net result for the year
€113,754
2024 · -€13,808+€127,562
Equity
€1.2m
2024 · €1.1m+€113,754
Cash
€80,518
2024 · €130,283-€49,765
Balance sheet total
€2.6m
2024 · €2.8m-€232,113
Largest movements
Assets
- Tangible fixed assets -€163,961
down €163,961 (-9.3%), from €1.8m to €1.6m
of which Leasing and similar rights: -€119,394
- Receivables after one year -€100,000
down €100,000 (-16.7%), from €600,000 to €500,000
- Receivables within one year +€86,887
up €86,887 (+33.4%), from €260,376 to €347,263
of which Trade receivables: +€107,607
- Cash -€49,765
down €49,765 (-38.2%), from €130,283 to €80,518
mainly Debts after one year (-€205,559) and Trade debts (-€105,448)
Equity and liabilities
- Debts after one year -€205,559
down €205,559 (-24.9%), from €826,690 to €621,131
- Profit (loss) carried forward +€192,523
up €192,523 (+60.9%), from €315,873 to €508,396
- Trade debts -€105,448
down €105,448 (-52.7%), from €199,951 to €94,503
- Reserves -€78,769
down €78,769 (-11.9%), from €661,482 to €582,713
of which Tax-exempt reserves: -€78,769
Income statement
- Gross operating margin +€140,468
up €140,468 (+43.4%), from €323,313 to €463,781
- Taxes +€45,656
up €45,656 (+170%), from €26,791 to €72,447
- Write-downs -€20,363
no longer reported in 2025 (was €20,363)
- Staff costs -€7,856
down €7,856 (-5.5%), from €143,447 to €135,591
- Financial charges -€5,330
down €5,330 (-16.3%), from €32,618 to €27,287
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
-€13,808
Gross operating margin
+€140,468
Staff costs
+€7,856
Depreciation
-€2,099
Write-downs
+€20,363
Other operating charges
+€188
Financial income
+€1,112
Financial charges
+€5,330
Taxes
-€45,656
Result 2025
€113,754
raises the resultlowers the result
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
+€148,691
Investment
€0
Financing
-€198,456
Cash 2024
€130,283
From operations (derived)
+€148,691
Net result for the year
+€113,754
Depreciation
+€163,961
Receivables after one year
+€100,000
Stocks and contracts
+€7,416
Receivables within one year
-€86,887
Deferred charges and accrued income
-€2,142
Provisions
-€26,256
Trade debts
-€105,448
Tax, wage and social debts
-€15,124
Accrued charges and deferred income
-€583
Financing
-€198,456
Debts after one year
-€205,559
Current portion of long-term debt
-€12,864
Short-term financial debts
+€19,966
Cash 2025
€80,518
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,845,538 | €2,613,425 | -€232,113 | -8.2% |
| Fixed assets | 21/28 | €1,764,257 | €1,600,296 | -€163,961 | -9.3% |
| Tangible fixed assets | 22/27 | €1,764,257 | €1,600,296 | -€163,961 | -9.3% |
| Land and buildings | 22 | €257,397 | €257,397 | = | 0.0% |
| Plant, machinery and equipment | 23 | €24,576 | €14,600 | -€9,976 | -40.6% |
| Furniture and vehicles | 24 | €16,050 | €3,472 | -€12,578 | -78.4% |
| Leasing and similar rights | 25 | €919,997 | €800,603 | -€119,394 | -13.0% |
| Other tangible fixed assets | 26 | €546,236 | €524,223 | -€22,013 | -4.0% |
| Current assets | 29/58 | €1,081,281 | €1,013,128 | -€68,153 | -6.3% |
| Amounts receivable after more than one year | 29 | €600,000 | €500,000 | -€100,000 | -16.7% |
| Other amounts receivable | 291 | €600,000 | €500,000 | -€100,000 | -16.7% |
| Stocks and contracts in progress | 3 | €90,390 | €82,974 | -€7,416 | -8.2% |
| Stocks | 30/36 | €90,390 | €82,974 | -€7,416 | -8.2% |
| Amounts receivable within one year | 40/41 | €260,376 | €347,263 | +€86,887 | +33.4% |
| Trade receivables | 40 | €181,589 | €289,196 | +€107,607 | +59.3% |
| Other amounts receivable | 41 | €78,788 | €58,067 | -€20,721 | -26.3% |
| Cash at bank and in hand | 54/58 | €130,283 | €80,518 | -€49,765 | -38.2% |
| Deferred charges and accrued income | 490/1 | €232 | €2,374 | +€2,142 | +922% |
| Total equity and liabilities | 10/49 | €2,845,538 | €2,613,425 | -€232,113 | -8.2% |
| Equity | 10/15 | €1,101,355 | €1,215,109 | +€113,754 | +10.3% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €661,482 | €582,713 | -€78,769 | -11.9% |
| Non-distributable reserves | 130/1 | €52,931 | €52,931 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Other | 1319 | €40,531 | €40,531 | = | 0.0% |
| Tax-exempt reserves | 132 | €605,300 | €526,531 | -€78,769 | -13.0% |
| Distributable reserves | 133 | €3,252 | €3,252 | = | 0.0% |
| Profit (loss) carried forward | 14 | €315,873 | €508,396 | +€192,523 | +60.9% |
| Provisions and deferred taxes | 16 | €201,767 | €175,510 | -€26,256 | -13.0% |
| Deferred taxes | 168 | €201,767 | €175,510 | -€26,256 | -13.0% |
| Amounts payable | 17/49 | €1,542,417 | €1,222,806 | -€319,611 | -20.7% |
| Amounts payable after more than one year | 17 | €826,690 | €621,131 | -€205,559 | -24.9% |
| Financial debts | 170/4 | €826,690 | €621,131 | -€205,559 | -24.9% |
| Amounts payable within one year | 42/48 | €713,679 | €600,210 | -€113,469 | -15.9% |
| Current portion of amounts payable after more than one year | 42 | €218,422 | €205,559 | -€12,864 | -5.9% |
| Financial debts | 43 | €221,759 | €241,726 | +€19,966 | +9.0% |
| Credit institutions | 430/8 | €221,759 | €241,726 | +€19,966 | +9.0% |
| Trade debts | 44 | €199,951 | €94,503 | -€105,448 | -52.7% |
| Suppliers | 440/4 | €199,951 | €94,503 | -€105,448 | -52.7% |
| Taxes, remuneration and social security | 45 | €73,546 | €58,422 | -€15,124 | -20.6% |
| Taxes | 450/3 | €49,904 | €49,128 | -€777 | -1.6% |
| Remuneration and social security | 454/9 | €23,642 | €9,295 | -€14,347 | -60.7% |
| Accrued charges and deferred income | 492/3 | €2,048 | €1,465 | -€583 | -28.5% |
| Remuneration, social security and pensions | 62 | €143,447 | €135,591 | -€7,856 | -5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161,862 | €163,961 | +€2,099 | +1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €20,363 | - | -€20,363 | |
| Other operating charges | 640/8 | €3,712 | €3,525 | -€188 | -5.1% |
| Gross operating margin | 9900 | €323,313 | €463,781 | +€140,468 | +43.4% |
| Operating profit (loss) | 9901 | -€6,071 | €160,705 | +€166,775 | |
| Financial income | 75/76B | €25,415 | €26,527 | +€1,112 | +4.4% |
| Recurring financial income | 75 | €25,415 | €26,527 | +€1,112 | +4.4% |
| Financial charges | 65/66B | €32,618 | €27,287 | -€5,330 | -16.3% |
| Recurring financial charges | 65 | €32,618 | €27,287 | -€5,330 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | -€13,273 | €159,944 | +€173,218 | |
| Transfer from deferred taxes | 780 | €26,256 | €26,256 | = | 0.0% |
| Income taxes | 67/77 | €26,791 | €72,447 | +€45,656 | +170% |
| Profit (loss) for the period | 9904 | -€13,808 | €113,754 | +€127,562 | |
| Transfer from tax-exempt reserves | 789 | €78,769 | €78,769 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,961 | €192,523 | +€127,562 | +196% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.