Maesbouw: 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.
Maesbouw
Largest movements
- Receivables within one year -€53,276
down €53,276 (-63.1%), from €84,435 to €31,159
of which Trade receivables: -€72,309
- Receivables after one year +€12,253
up €12,253 (+16.3%), from €75,000 to €87,253
- Cash -€9,798
down €9,798 (-5.0%), from €197,745 to €187,946
mainly Net result for the year (-€69,587) and Receivables after one year (-€12,253)
- Tangible fixed assets -€8,954
down €8,954 (-3.7%), from €244,371 to €235,417
of which Land and buildings: -€8,689
- Reserves -€69,587
down €69,587 (-14.2%), from €489,898 to €420,311
of which Distributable reserves: -€59,057
- Trade debts +€12,048
up €12,048 (+133.6%), from €9,020 to €21,068
- Gross operating margin -€173,127
down €173,127, from €113,512 to -€59,615
- Taxes -€26,591
down €26,591 (-100.0%), from €26,591 to €0
- Write-downs +€2,360
up €2,360, from -€2,360 to €0
- Other operating charges -€1,958
down €1,958 (-44.6%), from €4,392 to €2,435
- Staff costs -€1,790
down €1,790 (-100.0%), from €1,790 to €0
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 | €603,425 | €547,033 | -€56,393 | -9.3% |
| Fixed assets | 21/28 | €244,371 | €235,417 | -€8,954 | -3.7% |
| Tangible fixed assets | 22/27 | €244,371 | €235,417 | -€8,954 | -3.7% |
| Land and buildings | 22 | €239,023 | €230,333 | -€8,689 | -3.6% |
| Plant, machinery and equipment | 23 | €59 | €0 | -€59 | -100.0% |
| Furniture and vehicles | 24 | €5,290 | €5,083 | -€206 | -3.9% |
| Current assets | 29/58 | €359,054 | €311,616 | -€47,438 | -13.2% |
| Amounts receivable after more than one year | 29 | €75,000 | €87,253 | +€12,253 | +16.3% |
| Other amounts receivable | 291 | €75,000 | €87,253 | +€12,253 | +16.3% |
| Amounts receivable within one year | 40/41 | €84,435 | €31,159 | -€53,276 | -63.1% |
| Trade receivables | 40 | €74,757 | €2,448 | -€72,309 | -96.7% |
| Other amounts receivable | 41 | €9,678 | €28,711 | +€19,034 | +196.7% |
| Cash at bank and in hand | 54/58 | €197,745 | €187,946 | -€9,798 | -5.0% |
| Deferred charges and accrued income | 490/1 | €1,875 | €5,258 | +€3,383 | +180.4% |
| Total equity and liabilities | 10/49 | €603,425 | €547,033 | -€56,393 | -9.3% |
| Equity | 10/15 | €551,898 | €482,311 | -€69,587 | -12.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €489,898 | €420,311 | -€69,587 | -14.2% |
| Non-distributable reserves | 130/1 | €6,200 | €0 | -€6,200 | -100.0% |
| Legal reserve | 130 | €6,200 | €0 | -€6,200 | -100.0% |
| Tax-exempt reserves | 132 | €210,468 | €206,138 | -€4,330 | -2.1% |
| Distributable reserves | 133 | €273,230 | €214,173 | -€59,057 | -21.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €51,528 | €64,722 | +€13,194 | +25.6% |
| Amounts payable within one year | 42/48 | €49,028 | €62,160 | +€13,132 | +26.8% |
| Trade debts | 44 | €9,020 | €21,068 | +€12,048 | +133.6% |
| Suppliers | 440/4 | €9,020 | €21,068 | +€12,048 | +133.6% |
| Taxes, remuneration and social security | 45 | €40,007 | €41,091 | +€1,084 | +2.7% |
| Taxes | 450/3 | €39,043 | €31,091 | -€7,952 | -20.4% |
| Remuneration and social security | 454/9 | €964 | €10,000 | +€9,036 | +937.2% |
| Accrued charges and deferred income | 492/3 | €2,500 | €2,562 | +€62 | +2.5% |
| Remuneration, social security and pensions | 62 | €1,790 | €0 | -€1,790 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,858 | €10,962 | -€896 | -7.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,360 | €0 | +€2,360 | |
| Other operating charges | 640/8 | €4,392 | €2,435 | -€1,958 | -44.6% |
| Gross operating margin | 9900 | €113,512 | -€59,615 | -€173,127 | |
| Operating profit (loss) | 9901 | €97,832 | -€73,011 | -€170,843 | |
| Financial income | 75/76B | €4,024 | €3,560 | -€464 | -11.5% |
| Recurring financial income | 75 | €4,024 | €3,560 | -€464 | -11.5% |
| Financial charges | 65/66B | €375 | €135 | -€240 | -63.9% |
| Recurring financial charges | 65 | €375 | €135 | -€240 | -63.9% |
| Profit (loss) for the period before taxes | 9903 | €101,481 | -€69,587 | -€171,068 | |
| Income taxes | 67/77 | €26,591 | €0 | -€26,591 | -100.0% |
| Profit (loss) for the period | 9904 | €74,890 | -€69,587 | -€144,476 | |
| Transfer from tax-exempt reserves | 789 | €4,330 | €4,330 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €79,220 | -€65,257 | -€144,476 |
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 11 October 2026 via checked.be.