MAES SEBASTIEN: what changed
What changed
MAES SEBASTIEN
NACE 85.592, Vocational training
filed annual accounts (NBB)
Net result for the year
€4,947
2024 · €16,498-€11,551
Equity
€84,444
2024 · €112,497-€28,053
Cash
€3,645
2024 · €8,647-€5,002
Balance sheet total
€309,831
2024 · €352,297-€42,465
Largest movements
Assets
- Tangible fixed assets -€19,482
down €19,482 (-6.7%), from €289,126 to €269,644
of which Land and buildings: -€13,402
- Receivables within one year -€18,215
down €18,215 (-64.3%), from €28,333 to €10,118
of which Other amounts receivable: -€18,136
- Cash -€5,002
down €5,002 (-57.8%), from €8,647 to €3,645
mainly Debts after one year (-€36,993) and Contributions, distributions and other (-€33,000)
Equity and liabilities
- Debts after one year -€36,993
down €36,993 (-20.5%), from €180,343 to €143,350
- Reserves -€28,053
down €28,053 (-29.5%), from €95,032 to €66,979
of which Distributable reserves: -€28,053
- Other debts +€17,128
up €17,128 (+125%), from €13,728 to €30,855
- Short-term financial debts +€6,872
new in 2025: €6,872
Income statement
- Gross operating margin -€13,108
down €13,108 (-22.5%), from €58,130 to €45,022
- Financial charges -€1,309
down €1,309 (-14.8%), from €8,863 to €7,553
- Financial income -€1,225
down €1,225 (-56.8%), from €2,157 to €931
- Taxes -€1,074
down €1,074 (-14.1%), from €7,606 to €6,531
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
€16,498
Gross operating margin
-€13,108
Depreciation
+€301
Other operating charges
+€97
Financial income
-€1,225
Financial charges
+€1,309
Taxes
+€1,074
Result 2025
€4,947
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
+€65,502
Investment
-€6,700
Financing
-€63,804
Cash 2024
€8,647
From operations (derived)
+€65,502
Net result for the year
+€4,947
Depreciation
+€26,182
Receivables within one year
+€18,215
Deferred charges and accrued income
-€234
Trade debts
-€1,443
Tax, wage and social debts
+€608
Other debts
+€17,128
Accrued charges and deferred income
+€101
Investment (derived)
-€6,700
Investment in fixed assets (net)
-€6,700
Financing
-€63,804
Debts after one year
-€36,993
Current portion of long-term debt
-€683
Short-term financial debts
+€6,872
Contributions, distributions and other
-€33,000
Cash 2025
€3,645
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €352,297 | €309,831 | -€42,465 | -12.1% |
| Fixed assets | 21/28 | €289,151 | €269,669 | -€19,482 | -6.7% |
| Tangible fixed assets | 22/27 | €289,126 | €269,644 | -€19,482 | -6.7% |
| Land and buildings | 22 | €223,365 | €209,963 | -€13,402 | -6.0% |
| Plant, machinery and equipment | 23 | €11,605 | €7,953 | -€3,653 | -31.5% |
| Furniture and vehicles | 24 | €7,920 | €10,434 | +€2,513 | +31.7% |
| Other tangible fixed assets | 26 | €46,235 | €41,294 | -€4,940 | -10.7% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €63,146 | €40,162 | -€22,983 | -36.4% |
| Amounts receivable after more than one year | 29 | €24,000 | €24,000 | = | 0.0% |
| Other amounts receivable | 291 | €24,000 | €24,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,333 | €10,118 | -€18,215 | -64.3% |
| Trade receivables | 40 | €229 | €150 | -€79 | -34.5% |
| Other amounts receivable | 41 | €28,104 | €9,968 | -€18,136 | -64.5% |
| Cash at bank and in hand | 54/58 | €8,647 | €3,645 | -€5,002 | -57.8% |
| Deferred charges and accrued income | 490/1 | €2,165 | €2,399 | +€234 | +10.8% |
| Total equity and liabilities | 10/49 | €352,297 | €309,831 | -€42,465 | -12.1% |
| Equity | 10/15 | €112,497 | €84,444 | -€28,053 | -24.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €95,032 | €66,979 | -€28,053 | -29.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €93,172 | €65,119 | -€28,053 | -30.1% |
| Profit (loss) carried forward | 14 | €5,065 | €5,065 | = | 0.0% |
| Amounts payable | 17/49 | €239,799 | €225,387 | -€14,412 | -6.0% |
| Amounts payable after more than one year | 17 | €180,343 | €143,350 | -€36,993 | -20.5% |
| Financial debts | 170/4 | €180,343 | €143,350 | -€36,993 | -20.5% |
| Amounts payable within one year | 42/48 | €59,456 | €81,937 | +€22,481 | +37.8% |
| Current portion of amounts payable after more than one year | 42 | €40,608 | €39,925 | -€683 | -1.7% |
| Financial debts | 43 | - | €6,872 | +€6,872 | |
| Credit institutions | 430/8 | - | €6,872 | +€6,872 | |
| Trade debts | 44 | €3,583 | €2,139 | -€1,443 | -40.3% |
| Suppliers | 440/4 | €3,583 | €2,139 | -€1,443 | -40.3% |
| Taxes, remuneration and social security | 45 | €1,538 | €2,145 | +€608 | +39.5% |
| Taxes | 450/3 | €1,538 | €2,145 | +€608 | +39.5% |
| Other amounts payable | 47/48 | €13,728 | €30,855 | +€17,128 | +125% |
| Accrued charges and deferred income | 492/3 | - | €101 | +€101 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,483 | €26,182 | -€301 | -1.1% |
| Other operating charges | 640/8 | €838 | €741 | -€97 | -11.6% |
| Gross operating margin | 9900 | €58,130 | €45,022 | -€13,108 | -22.5% |
| Operating profit (loss) | 9901 | €30,809 | €18,100 | -€12,709 | -41.3% |
| Financial income | 75/76B | €2,157 | €931 | -€1,225 | -56.8% |
| Recurring financial income | 75 | €2,157 | €931 | -€1,225 | -56.8% |
| Financial charges | 65/66B | €8,863 | €7,553 | -€1,309 | -14.8% |
| Recurring financial charges | 65 | €8,863 | €7,553 | -€1,309 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €24,103 | €11,478 | -€12,625 | -52.4% |
| Income taxes | 67/77 | €7,606 | €6,531 | -€1,074 | -14.1% |
| Profit (loss) for the period | 9904 | €16,498 | €4,947 | -€11,551 | -70.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,498 | €4,947 | -€11,551 | -70.0% |
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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 2 November 2026 via checked.be.