MAES-TRANSPORT: what changed
What changed
MAES-TRANSPORT
NACE 49.410, Freight transport by road
filed annual accounts (NBB)
Net result for the year
€64,092
2024 · €55,053+€9,040
Equity
€932,022
2024 · €867,930+€64,092
Cash
€448,134
2024 · €593,381-€145,248
Balance sheet total
€5.7m
2024 · €4.7m+€921,987
Largest movements
Assets
- Tangible fixed assets +€1.0m
up €1.0m (+43.7%), from €2.4m to €3.4m
of which Leasing and similar rights: +€910,519
- Cash -€145,248
down €145,248 (-24.5%), from €593,381 to €448,134
mainly Investment in fixed assets (net) (-€1.7m) and Other debts (-€241,873)
- Receivables within one year +€83,042
up €83,042 (+10.0%), from €826,913 to €909,955
of which Trade receivables: +€73,471
Equity and liabilities
- Debts after one year +€529,755
up €529,755 (+30.0%), from €1.8m to €2.3m
- Current portion of long-term debt +€315,679
up €315,679 (+61.7%), from €511,742 to €827,422
- Trade debts +€279,395
up €279,395 (+27.1%), from €1.0m to €1.3m
- Other debts -€241,873
down €241,873 (-55.4%), from €436,599 to €194,726
- Profit (loss) carried forward +€64,092
up €64,092 (+24.1%), from -€266,045 to -€201,953
Income statement
- Gross operating margin +€338,301
up €338,301 (+25.8%), from €1.3m to €1.6m
- Depreciation +€257,775
up €257,775 (+57.9%), from €445,579 to €703,354
- Financial charges +€60,422
up €60,422 (+39.8%), from €151,649 to €212,071
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
€55,053
Gross operating margin
+€338,301
Staff costs
-€11,096
Depreciation
-€257,775
Write-downs
-€1,485
Other operating charges
-€1,557
Financial income
-€7,645
Financial charges
-€60,422
Taxes
+€10,718
Result 2025
€64,092
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
+€691,944
Investment
-€1.7m
Financing
+€845,434
Cash 2024
€593,381
From operations (derived)
+€691,944
Net result for the year
+€64,092
Depreciation
+€703,354
Stocks and contracts
+€3,525
Receivables within one year
-€83,042
Deferred charges and accrued income
-€8,447
Trade debts
+€279,395
Tax, wage and social debts
-€25,061
Other debts
-€241,873
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€1.7m
Financing
+€845,434
Debts after one year
+€529,755
Current portion of long-term debt
+€315,679
Cash 2025
€448,134
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,729,516 | €5,651,504 | +€921,987 | +19.5% |
| Formation expenses | 20 | €891,748 | €836,055 | -€55,692 | -6.2% |
| Fixed assets | 21/28 | €2,367,893 | €3,402,857 | +€1.0m | +43.7% |
| Tangible fixed assets | 22/27 | €2,367,893 | €3,402,857 | +€1.0m | +43.7% |
| Land and buildings | 22 | €28,765 | €195,741 | +€166,976 | +580% |
| Plant, machinery and equipment | 23 | €33,843 | €97,949 | +€64,106 | +189% |
| Furniture and vehicles | 24 | €126,093 | €19,456 | -€106,637 | -84.6% |
| Leasing and similar rights | 25 | €2,179,191 | €3,089,710 | +€910,519 | +41.8% |
| Current assets | 29/58 | €1,469,876 | €1,412,592 | -€57,284 | -3.9% |
| Stocks and contracts in progress | 3 | €13,610 | €10,084 | -€3,525 | -25.9% |
| Stocks | 30/36 | €13,610 | €10,084 | -€3,525 | -25.9% |
| Amounts receivable within one year | 40/41 | €826,913 | €909,955 | +€83,042 | +10.0% |
| Trade receivables | 40 | €632,844 | €706,315 | +€73,471 | +11.6% |
| Other amounts receivable | 41 | €194,069 | €203,640 | +€9,571 | +4.9% |
| Cash at bank and in hand | 54/58 | €593,381 | €448,134 | -€145,248 | -24.5% |
| Deferred charges and accrued income | 490/1 | €35,972 | €44,419 | +€8,447 | +23.5% |
| Total equity and liabilities | 10/49 | €4,729,516 | €5,651,504 | +€921,987 | +19.5% |
| Equity | 10/15 | €867,930 | €932,022 | +€64,092 | +7.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,033,975 | €1,033,975 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €145,260 | €145,260 | = | 0.0% |
| Distributable reserves | 133 | €878,714 | €878,714 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€266,045 | -€201,953 | +€64,092 | +24.1% |
| Amounts payable | 17/49 | €3,861,586 | €4,719,481 | +€857,895 | +22.2% |
| Amounts payable after more than one year | 17 | €1,765,141 | €2,294,896 | +€529,755 | +30.0% |
| Financial debts | 170/4 | €1,765,141 | €2,294,896 | +€529,755 | +30.0% |
| Amounts payable within one year | 42/48 | €2,096,196 | €2,424,336 | +€328,140 | +15.7% |
| Current portion of amounts payable after more than one year | 42 | €511,742 | €827,422 | +€315,679 | +61.7% |
| Trade debts | 44 | €1,032,010 | €1,311,405 | +€279,395 | +27.1% |
| Suppliers | 440/4 | €1,032,010 | €1,311,405 | +€279,395 | +27.1% |
| Taxes, remuneration and social security | 45 | €115,844 | €90,783 | -€25,061 | -21.6% |
| Taxes | 450/3 | €39,963 | €21,942 | -€18,021 | -45.1% |
| Remuneration and social security | 454/9 | €75,882 | €68,841 | -€7,040 | -9.3% |
| Other amounts payable | 47/48 | €436,599 | €194,726 | -€241,873 | -55.4% |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Non-recurring operating income | 76A | €105,348 | €114,009 | +€8,661 | +8.2% |
| Remuneration, social security and pensions | 62 | €643,495 | €654,590 | +€11,096 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €445,579 | €703,354 | +€257,775 | +57.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,485 | +€1,485 | |
| Other operating charges | 640/8 | €21,588 | €23,145 | +€1,557 | +7.2% |
| Gross operating margin | 9900 | €1,310,416 | €1,648,717 | +€338,301 | +25.8% |
| Operating profit (loss) | 9901 | €199,754 | €266,142 | +€66,388 | +33.2% |
| Financial income | 75/76B | €22,135 | €14,490 | -€7,645 | -34.5% |
| Recurring financial income | 75 | €22,135 | €14,490 | -€7,645 | -34.5% |
| Financial charges | 65/66B | €151,649 | €212,071 | +€60,422 | +39.8% |
| Recurring financial charges | 65 | €151,649 | €212,071 | +€60,422 | +39.8% |
| Profit (loss) for the period before taxes | 9903 | €70,239 | €68,561 | -€1,679 | -2.4% |
| Income taxes | 67/77 | €15,186 | €4,468 | -€10,718 | -70.6% |
| Profit (loss) for the period | 9904 | €55,053 | €64,092 | +€9,040 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,053 | €64,092 | +€9,040 | +16.4% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.