MAES VENTURES: 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 VENTURES
Largest movements
- Receivables within one year +€10,026
up €10,026 (+54.0%), from €18,572 to €28,598
of which Other amounts receivable: +€11,397
- Cash +€2,345
up €2,345 (+8.2%), from €28,465 to €30,810
mainly Net result for the year (+€28,916) and Deferred charges and accrued income (+€1,604)
- Deferred charges and accrued income -€1,604
down €1,604 (-100%), from €1,604 to €0
- Reserves +€28,916
up €28,916 (+111%), from €26,065 to €54,981
- Tax, wage and social debts -€13,332
down €13,332 (-93.7%), from €14,232 to €900
- Other debts -€4,993
down €4,993 (-100%), from €4,993 to €0
- Gross operating margin +€5,064
up €5,064 (+14.4%), from €35,272 to €40,336
- Taxes +€2,803
up €2,803 (+37.9%), from €7,387 to €10,190
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 | €49,615 | €60,128 | +€10,513 | +21.2% |
| Fixed assets | 21/28 | €974 | €720 | -€254 | -26.1% |
| Tangible fixed assets | 22/27 | €924 | €670 | -€254 | -27.5% |
| Plant, machinery and equipment | 23 | €924 | €670 | -€254 | -27.5% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €48,641 | €59,408 | +€10,767 | +22.1% |
| Amounts receivable within one year | 40/41 | €18,572 | €28,598 | +€10,026 | +54.0% |
| Trade receivables | 40 | €11,325 | €9,954 | -€1,371 | -12.1% |
| Other amounts receivable | 41 | €7,247 | €18,644 | +€11,397 | +157% |
| Cash at bank and in hand | 54/58 | €28,465 | €30,810 | +€2,345 | +8.2% |
| Deferred charges and accrued income | 490/1 | €1,604 | €0 | -€1,604 | -100% |
| Total equity and liabilities | 10/49 | €49,615 | €60,128 | +€10,513 | +21.2% |
| Equity | 10/15 | €29,065 | €57,981 | +€28,916 | +99.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €26,065 | €54,981 | +€28,916 | +111% |
| Distributable reserves | 133 | €26,065 | €54,981 | +€28,916 | +111% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €20,550 | €2,147 | -€18,403 | -89.6% |
| Amounts payable within one year | 42/48 | €20,550 | €2,147 | -€18,403 | -89.6% |
| Trade debts | 44 | €1,325 | €1,247 | -€78 | -5.9% |
| Suppliers | 440/4 | €1,325 | €1,247 | -€78 | -5.9% |
| Taxes, remuneration and social security | 45 | €14,232 | €900 | -€13,332 | -93.7% |
| Taxes | 450/3 | €14,232 | €900 | -€13,332 | -93.7% |
| Other amounts payable | 47/48 | €4,993 | €0 | -€4,993 | -100% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €515 | €254 | -€261 | -50.6% |
| Other operating charges | 640/8 | €994 | €950 | -€44 | -4.5% |
| Gross operating margin | 9900 | €35,272 | €40,336 | +€5,064 | +14.4% |
| Operating profit (loss) | 9901 | €33,763 | €39,132 | +€5,369 | +15.9% |
| Financial income | 75/76B | €2 | €294 | +€293 | +19,001% |
| Recurring financial income | 75 | €2 | €294 | +€293 | +19,001% |
| Financial charges | 65/66B | €313 | €320 | +€7 | +2.4% |
| Recurring financial charges | 65 | €313 | €320 | +€7 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €33,452 | €39,106 | +€5,654 | +16.9% |
| Income taxes | 67/77 | €7,387 | €10,190 | +€2,803 | +37.9% |
| Profit (loss) for the period | 9904 | €26,065 | €28,916 | +€2,851 | +10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,065 | €28,916 | +€2,851 | +10.9% |
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 21 October 2026 via checked.be.