MAES N. CONCEPT: 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 N. CONCEPT
Largest movements
- Receivables after one year -€100,000
down €100,000 (-12.9%), from €775,000 to €675,000
- Tangible fixed assets -€81,830
down €81,830 (-30.5%), from €267,882 to €186,052
of which Plant, machinery and equipment: -€70,316
- Stocks and contracts -€56,125
down €56,125 (-19.5%), from €287,766 to €231,641
- Receivables within one year +€21,220
up €21,220 (+10.1%), from €209,456 to €230,675
of which Other amounts receivable: +€22,876
- Reserves -€124,454
down €124,454 (-9.1%), from €1.4m to €1.2m
of which Distributable reserves: -€124,454
- Other debts -€95,000
no longer reported in 2025 (was €95,000)
- Gross operating margin +€19,861
up €19,861 (+18.4%), from -€108,071 to -€88,209
- Financial charges +€8,047
up €8,047 (+1,035%), from €778 to €8,824
of which Non-recurring financial charges: +€8,364
- Depreciation -€4,130
down €4,130 (-8.4%), from €48,917 to €44,787
- Financial income -€1,740
down €1,740 (-8.3%), from €20,892 to €19,153
- Other operating charges -€1,221
down €1,221 (-40.6%), from €3,007 to €1,786
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 | €1,571,839 | €1,342,692 | -€229,146 | -14.6% |
| Fixed assets | 21/28 | €269,945 | €186,960 | -€82,985 | -30.7% |
| Intangible fixed assets | 21 | €2,063 | €908 | -€1,155 | -56.0% |
| Tangible fixed assets | 22/27 | €267,882 | €186,052 | -€81,830 | -30.5% |
| Plant, machinery and equipment | 23 | €237,464 | €167,148 | -€70,316 | -29.6% |
| Furniture and vehicles | 24 | €18,670 | €10,044 | -€8,626 | -46.2% |
| Other tangible fixed assets | 26 | €11,748 | €8,860 | -€2,888 | -24.6% |
| Current assets | 29/58 | €1,301,894 | €1,155,733 | -€146,161 | -11.2% |
| Amounts receivable after more than one year | 29 | €775,000 | €675,000 | -€100,000 | -12.9% |
| Other amounts receivable | 291 | €775,000 | €675,000 | -€100,000 | -12.9% |
| Stocks and contracts in progress | 3 | €287,766 | €231,641 | -€56,125 | -19.5% |
| Stocks | 30/36 | €287,766 | €231,641 | -€56,125 | -19.5% |
| Amounts receivable within one year | 40/41 | €209,456 | €230,675 | +€21,220 | +10.1% |
| Trade receivables | 40 | €7,656 | €6,000 | -€1,656 | -21.6% |
| Other amounts receivable | 41 | €201,800 | €224,675 | +€22,876 | +11.3% |
| Cash at bank and in hand | 54/58 | €28,987 | €17,965 | -€11,021 | -38.0% |
| Deferred charges and accrued income | 490/1 | €685 | €451 | -€234 | -34.2% |
| Total equity and liabilities | 10/49 | €1,571,839 | €1,342,692 | -€229,146 | -14.6% |
| Equity | 10/15 | €1,465,632 | €1,341,179 | -€124,454 | -8.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,365,632 | €1,241,179 | -€124,454 | -9.1% |
| Non-distributable reserves | 130/1 | €70,000 | €70,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €70,000 | €70,000 | = | 0.0% |
| Distributable reserves | 133 | €1,295,632 | €1,171,179 | -€124,454 | -9.6% |
| Amounts payable | 17/49 | €106,206 | €1,514 | -€104,692 | -98.6% |
| Amounts payable within one year | 42/48 | €106,206 | €1,514 | -€104,692 | -98.6% |
| Trade debts | 44 | €1,856 | €1,514 | -€342 | -18.4% |
| Suppliers | 440/4 | €1,856 | €1,514 | -€342 | -18.4% |
| Taxes, remuneration and social security | 45 | €9,350 | - | -€9,350 | |
| Taxes | 450/3 | €9,350 | - | -€9,350 | |
| Other amounts payable | 47/48 | €95,000 | - | -€95,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,917 | €44,787 | -€4,130 | -8.4% |
| Other operating charges | 640/8 | €3,007 | €1,786 | -€1,221 | -40.6% |
| Non-recurring operating charges | 66A | €1,581 | - | -€1,581 | |
| Gross operating margin | 9900 | -€108,071 | -€88,209 | +€19,861 | +18.4% |
| Operating profit (loss) | 9901 | -€161,576 | -€134,782 | +€26,794 | +16.6% |
| Financial income | 75/76B | €20,892 | €19,153 | -€1,740 | -8.3% |
| Recurring financial income | 75 | €20,892 | €19,153 | -€1,740 | -8.3% |
| Financial charges | 65/66B | €778 | €8,824 | +€8,047 | +1,035% |
| Recurring financial charges | 65 | €778 | €460 | -€317 | -40.8% |
| Non-recurring financial charges | 66B | - | €8,364 | +€8,364 | |
| Profit (loss) for the period before taxes | 9903 | -€141,461 | -€124,454 | +€17,007 | +12.0% |
| Profit (loss) for the period | 9904 | -€141,461 | -€124,454 | +€17,007 | +12.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€141,461 | -€124,454 | +€17,007 | +12.0% |
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 25 October 2026 via checked.be.