MAESSCHALCK: what changed
Two fiscal 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.
What changed
MAESSCHALCK
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€15,022
2024 · €17,520-€2,498
Equity
€817,122
2024 · €802,100+€15,022
Cash
€9,143
2024 · €11,444-€2,301
Balance sheet total
€1.3m
2024 · €1.3m-€61,163
Largest movements
Assets
- Tangible fixed assets -€59,987
down €59,987 (-4.6%), from €1.3m to €1.2m
Equity and liabilities
- Debts after one year -€74,002
down €74,002 (-62.7%), from €118,039 to €44,037
- Reserves +€15,022
up €15,022 (+1.9%), from €783,100 to €798,122
of which Distributable reserves: +€35,926
Income statement
- Gross operating margin -€2,275
down €2,275 (-2.1%), from €109,375 to €107,099
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.
Result 2024
€17,520
Gross operating margin
-€2,275
Other operating charges
-€314
Financial income
-€3
Financial charges
-€964
Taxes
+€1,058
Result 2025
€15,022
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.
From operations
+€84,048
Investment
€0
Financing
-€86,349
Cash 2024
€11,444
From operations (derived)
+€84,048
Net result for the year
+€15,022
Depreciation
+€59,987
Deferred charges and accrued income
-€1,125
Provisions
-€10,767
Trade debts
+€5,726
Tax, wage and social debts
+€443
Other debts
+€9,935
Accrued charges and deferred income
+€4,827
Financing
-€86,349
Debts after one year
-€74,002
Current portion of long-term debt
-€12,347
Cash 2025
€9,143
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,317,162 | €1,255,999 | -€61,163 | -4.6% |
| Fixed assets | 21/28 | €1,305,718 | €1,245,731 | -€59,987 | -4.6% |
| Tangible fixed assets | 22/27 | €1,305,718 | €1,245,731 | -€59,987 | -4.6% |
| Land and buildings | 22 | €1,305,718 | €1,245,731 | -€59,987 | -4.6% |
| Current assets | 29/58 | €11,444 | €10,268 | -€1,176 | -10.3% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €11,444 | €9,143 | -€2,301 | -20.1% |
| Deferred charges and accrued income | 490/1 | €0 | €1,125 | +€1,125 | |
| Total equity and liabilities | 10/49 | €1,317,162 | €1,255,999 | -€61,163 | -4.6% |
| Equity | 10/15 | €802,100 | €817,122 | +€15,022 | +1.9% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €783,100 | €798,122 | +€15,022 | +1.9% |
| Tax-exempt reserves | 132 | €283,329 | €262,425 | -€20,904 | -7.4% |
| Distributable reserves | 133 | €499,771 | €535,697 | +€35,926 | +7.2% |
| Provisions and deferred taxes | 16 | €145,930 | €135,163 | -€10,767 | -7.4% |
| Deferred taxes | 168 | €145,930 | €135,163 | -€10,767 | -7.4% |
| Amounts payable | 17/49 | €369,132 | €303,715 | -€65,418 | -17.7% |
| Amounts payable after more than one year | 17 | €118,039 | €44,037 | -€74,002 | -62.7% |
| Financial debts | 170/4 | €118,039 | €44,037 | -€74,002 | -62.7% |
| Amounts payable within one year | 42/48 | €243,579 | €247,336 | +€3,757 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €86,349 | €74,002 | -€12,347 | -14.3% |
| Trade debts | 44 | €303 | €6,029 | +€5,726 | +1893.0% |
| Suppliers | 440/4 | €303 | €6,029 | +€5,726 | +1893.0% |
| Taxes, remuneration and social security | 45 | €5,430 | €5,873 | +€443 | +8.2% |
| Taxes | 450/3 | €5,430 | €5,873 | +€443 | +8.2% |
| Other amounts payable | 47/48 | €151,497 | €161,432 | +€9,935 | +6.6% |
| Accrued charges and deferred income | 492/3 | €7,515 | €12,342 | +€4,827 | +64.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,987 | €59,987 | = | 0.0% |
| Other operating charges | 640/8 | €10,057 | €10,371 | +€314 | +3.1% |
| Gross operating margin | 9900 | €109,375 | €107,099 | -€2,275 | -2.1% |
| Operating profit (loss) | 9901 | €39,331 | €36,741 | -€2,589 | -6.6% |
| Financial income | 75/76B | €5 | €2 | -€3 | -55.5% |
| Recurring financial income | 75 | €5 | €2 | -€3 | -55.5% |
| Financial charges | 65/66B | €14,651 | €15,615 | +€964 | +6.6% |
| Recurring financial charges | 65 | €14,651 | €15,615 | +€964 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | €24,684 | €21,128 | -€3,555 | -14.4% |
| Transfer from deferred taxes | 780 | €10,767 | €10,767 | = | 0.0% |
| Income taxes | 67/77 | €17,931 | €16,873 | -€1,058 | -5.9% |
| Profit (loss) for the period | 9904 | €17,520 | €15,022 | -€2,498 | -14.3% |
| Transfer from tax-exempt reserves | 789 | €20,904 | €20,904 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €38,424 | €35,926 | -€2,498 | -6.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.