MAES PHARMCONSULT: what changed
Two fiscal 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 PHARMCONSULT
Largest movements
- Financial fixed assets +€64,500
up €64,500 (+24.9%), from €258,576 to €323,076
- Cash +€29,828
up €29,828 (+132.1%), from €22,585 to €52,413
mainly Other debts (+€162,118) and Receivables within one year (+€15,540)
- Receivables within one year -€15,540
down €15,540 (-15.2%), from €102,393 to €86,853
- Tangible fixed assets +€6,901
up €6,901 (+459.6%), from €1,502 to €8,403
of which Plant, machinery and equipment: +€5,731
- Other debts +€162,118
up €162,118 (+336.2%), from €48,225 to €210,343
- Current portion of long-term debt -€71,539
no longer reported in 2025 (was €71,539)
- Trade debts -€5,730
down €5,730 (-6.5%), from €87,850 to €82,120
- Purchases and services -€52,417
down €52,417 (-45.5%), from €115,185 to €62,769
- Financial charges +€7,276
up €7,276 (+216.0%), from €3,368 to €10,645
- Taxes -€4,964
down €4,964 (-52.0%), from €9,554 to €4,590
- Gross operating margin +€2,383
up €2,383 (+12.8%), from €18,642 to €21,025
- Depreciation +€774
up €774 (+83.4%), from €928 to €1,701
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.
Cash bridge derived
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 | €385,055 | €471,871 | +€86,816 | +22.5% |
| Fixed assets | 21/28 | €260,078 | €331,479 | +€71,401 | +27.5% |
| Tangible fixed assets | 22/27 | €1,502 | €8,403 | +€6,901 | +459.6% |
| Plant, machinery and equipment | 23 | €525 | €6,255 | +€5,731 | +1092.0% |
| Furniture and vehicles | 24 | €977 | €2,148 | +€1,171 | +119.9% |
| Financial fixed assets | 28 | €258,576 | €323,076 | +€64,500 | +24.9% |
| Current assets | 29/58 | €124,977 | €140,392 | +€15,415 | +12.3% |
| Amounts receivable within one year | 40/41 | €102,393 | €86,853 | -€15,540 | -15.2% |
| Trade receivables | 40 | €102,393 | €86,853 | -€15,540 | -15.2% |
| Cash at bank and in hand | 54/58 | €22,585 | €52,413 | +€29,828 | +132.1% |
| Deferred charges and accrued income | 490/1 | - | €1,127 | +€1,127 | |
| Total equity and liabilities | 10/49 | €385,055 | €471,871 | +€86,816 | +22.5% |
| Equity | 10/15 | €157,281 | €160,970 | +€3,689 | +2.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €151,081 | €154,770 | +€3,689 | +2.4% |
| Distributable reserves | 133 | €151,081 | €154,770 | +€3,689 | +2.4% |
| Amounts payable | 17/49 | €227,774 | €310,901 | +€83,127 | +36.5% |
| Amounts payable after more than one year | 17 | €9,000 | €9,000 | = | 0.0% |
| Financial debts | 170/4 | €9,000 | €9,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €218,774 | €301,901 | +€83,127 | +38.0% |
| Current portion of amounts payable after more than one year | 42 | €71,539 | - | -€71,539 | |
| Trade debts | 44 | €87,850 | €82,120 | -€5,730 | -6.5% |
| Suppliers | 440/4 | €87,850 | €82,120 | -€5,730 | -6.5% |
| Taxes, remuneration and social security | 45 | €11,160 | €9,438 | -€1,722 | -15.4% |
| Taxes | 450/3 | €11,160 | €7,438 | -€3,722 | -33.3% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €48,225 | €210,343 | +€162,118 | +336.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €115,185 | €62,769 | -€52,417 | -45.5% |
| Remuneration, social security and pensions | 62 | - | €328 | +€328 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €928 | €1,701 | +€774 | +83.4% |
| Other operating charges | 640/8 | €72 | €73 | +€1 | +2.0% |
| Gross operating margin | 9900 | €18,642 | €21,025 | +€2,383 | +12.8% |
| Operating profit (loss) | 9901 | €17,643 | €18,923 | +€1,280 | +7.3% |
| Financial charges | 65/66B | €3,368 | €10,645 | +€7,276 | +216.0% |
| Recurring financial charges | 65 | €3,368 | €10,645 | +€7,276 | +216.0% |
| Profit (loss) for the period before taxes | 9903 | €14,275 | €8,279 | -€5,996 | -42.0% |
| Income taxes | 67/77 | €9,554 | €4,590 | -€4,964 | -52.0% |
| Profit (loss) for the period | 9904 | €4,721 | €3,689 | -€1,032 | -21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,721 | €3,689 | -€1,032 | -21.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.