MAESEN NOËL: 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.
MAESEN NOËL
Largest movements
- Cash -€2,119
down €2,119 (-6.8%), from €30,966 to €28,847
mainly Tax, wage and social debts (-€3,288) and Trade debts (-€880)
- Tax, wage and social debts -€3,288
down €3,288 (-85.7%), from €3,838 to €550
- Reserves +€1,099
up €1,099 (+1.4%), from €76,561 to €77,661
- Financial income -€11,751
down €11,751 (-100%), from €11,751 to €0
- Gross operating margin -€7,759
down €7,759 (-76.3%), from €10,172 to €2,413
- Taxes -€3,288
down €3,288 (-85.7%), from €3,838 to €550
- Financial charges -€279
down €279 (-66.6%), from €419 to €140
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 | €101,916 | €98,847 | -€3,069 | -3.0% |
| Fixed assets | 21/28 | €70,000 | €70,000 | = | 0.0% |
| Financial fixed assets | 28 | €70,000 | €70,000 | = | 0.0% |
| Current assets | 29/58 | €31,916 | €28,847 | -€3,069 | -9.6% |
| Amounts receivable within one year | 40/41 | €950 | €0 | -€950 | -100% |
| Trade receivables | 40 | €950 | €0 | -€950 | -100% |
| Cash at bank and in hand | 54/58 | €30,966 | €28,847 | -€2,119 | -6.8% |
| Total equity and liabilities | 10/49 | €101,916 | €98,847 | -€3,069 | -3.0% |
| Equity | 10/15 | €82,761 | €83,861 | +€1,099 | +1.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €76,561 | €77,661 | +€1,099 | +1.4% |
| Distributable reserves | 133 | €76,561 | €77,661 | +€1,099 | +1.4% |
| Amounts payable | 17/49 | €19,154 | €14,986 | -€4,168 | -21.8% |
| Amounts payable within one year | 42/48 | €19,154 | €14,986 | -€4,168 | -21.8% |
| Trade debts | 44 | €880 | €0 | -€880 | -100% |
| Suppliers | 440/4 | €880 | €0 | -€880 | -100% |
| Taxes, remuneration and social security | 45 | €3,838 | €550 | -€3,288 | -85.7% |
| Taxes | 450/3 | €3,838 | €550 | -€3,288 | -85.7% |
| Other amounts payable | 47/48 | €14,436 | €14,436 | = | 0.0% |
| Other operating charges | 640/8 | €609 | €624 | +€15 | +2.5% |
| Gross operating margin | 9900 | €10,172 | €2,413 | -€7,759 | -76.3% |
| Operating profit (loss) | 9901 | €9,562 | €1,789 | -€7,774 | -81.3% |
| Financial income | 75/76B | €11,751 | €0 | -€11,751 | -100% |
| Recurring financial income | 75 | €11,751 | €0 | -€11,751 | -100% |
| Financial charges | 65/66B | €419 | €140 | -€279 | -66.6% |
| Recurring financial charges | 65 | €419 | €140 | -€279 | -66.6% |
| Profit (loss) for the period before taxes | 9903 | €20,894 | €1,649 | -€19,246 | -92.1% |
| Income taxes | 67/77 | €3,838 | €550 | -€3,288 | -85.7% |
| Profit (loss) for the period | 9904 | €17,057 | €1,099 | -€15,958 | -93.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,057 | €1,099 | -€15,958 | -93.6% |
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 14 October 2026 via checked.be.