Maes-Van Betsbrugge: 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-Van Betsbrugge
Largest movements
- Tangible fixed assets -€59,632
down €59,632 (-18.8%), from €316,719 to €257,087
of which Furniture and vehicles: -€51,786
- Cash +€51,762
up €51,762 (+166%), from €31,201 to €82,963
mainly Trade debts (+€73,501) and Depreciation (+€59,632)
- Trade debts +€73,501
up €73,501 (+170%), from €43,247 to €116,748
- Other debts +€43,410
up €43,410 (+86.7%), from €50,089 to €93,499
- Reserves -€40,308
down €40,308 (-23.8%), from €169,250 to €128,942
- Debts after one year -€34,421
down €34,421 (-45.5%), from €75,584 to €41,162
- Current portion of long-term debt -€30,391
down €30,391 (-59.1%), from €51,421 to €21,030
- Gross operating margin +€70,024
up €70,024 (+213%), from €32,945 to €102,969
- Taxes +€3,491
up €3,491 (+784%), from €446 to €3,937
- Depreciation +€3,309
up €3,309 (+5.9%), from €56,324 to €59,632
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 | €435,469 | €428,842 | -€6,627 | -1.5% |
| Fixed assets | 21/28 | €317,719 | €257,087 | -€60,632 | -19.1% |
| Tangible fixed assets | 22/27 | €316,719 | €257,087 | -€59,632 | -18.8% |
| Land and buildings | 22 | €146,756 | €144,085 | -€2,671 | -1.8% |
| Plant, machinery and equipment | 23 | €12,971 | €7,796 | -€5,175 | -39.9% |
| Furniture and vehicles | 24 | €156,992 | €105,206 | -€51,786 | -33.0% |
| Financial fixed assets | 28 | €1,000 | €0 | -€1,000 | -100% |
| Current assets | 29/58 | €117,750 | €171,755 | +€54,005 | +45.9% |
| Amounts receivable within one year | 40/41 | €82,662 | €84,228 | +€1,565 | +1.9% |
| Trade receivables | 40 | €53,645 | €66,148 | +€12,503 | +23.3% |
| Other amounts receivable | 41 | €29,018 | €18,080 | -€10,938 | -37.7% |
| Cash at bank and in hand | 54/58 | €31,201 | €82,963 | +€51,762 | +166% |
| Deferred charges and accrued income | 490/1 | €3,887 | €4,565 | +€677 | +17.4% |
| Total equity and liabilities | 10/49 | €435,469 | €428,842 | -€6,627 | -1.5% |
| Equity | 10/15 | €187,850 | €147,542 | -€40,308 | -21.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €169,250 | €128,942 | -€40,308 | -23.8% |
| Distributable reserves | 133 | €169,250 | €128,942 | -€40,308 | -23.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €247,619 | €281,300 | +€33,680 | +13.6% |
| Amounts payable after more than one year | 17 | €75,584 | €41,162 | -€34,421 | -45.5% |
| Financial debts | 170/4 | €75,584 | €41,162 | -€34,421 | -45.5% |
| Amounts payable within one year | 42/48 | €168,284 | €237,550 | +€69,266 | +41.2% |
| Current portion of amounts payable after more than one year | 42 | €51,421 | €21,030 | -€30,391 | -59.1% |
| Trade debts | 44 | €43,247 | €116,748 | +€73,501 | +170% |
| Suppliers | 440/4 | €43,247 | €116,748 | +€73,501 | +170% |
| Taxes, remuneration and social security | 45 | €23,526 | €6,272 | -€17,254 | -73.3% |
| Taxes | 450/3 | €23,526 | €6,272 | -€17,254 | -73.3% |
| Other amounts payable | 47/48 | €50,089 | €93,499 | +€43,410 | +86.7% |
| Accrued charges and deferred income | 492/3 | €3,752 | €2,588 | -€1,164 | -31.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,324 | €59,632 | +€3,309 | +5.9% |
| Other operating charges | 640/8 | €2,396 | €2,463 | +€66 | +2.8% |
| Gross operating margin | 9900 | €32,945 | €102,969 | +€70,024 | +213% |
| Operating profit (loss) | 9901 | -€25,774 | €40,874 | +€66,649 | |
| Financial income | 75/76B | €116 | €75 | -€42 | -35.7% |
| Recurring financial income | 75 | €116 | €75 | -€42 | -35.7% |
| Financial charges | 65/66B | €4,048 | €3,323 | -€725 | -17.9% |
| Recurring financial charges | 65 | €4,048 | €3,323 | -€725 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | -€29,706 | €37,626 | +€67,332 | |
| Income taxes | 67/77 | €446 | €3,937 | +€3,491 | +784% |
| Profit (loss) for the period | 9904 | -€30,151 | €33,689 | +€63,841 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,151 | €33,689 | +€63,841 |
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 31 October 2026 via checked.be.