MAESSEN - PROJECTS: 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.
MAESSEN - PROJECTS
Largest movements
- Tangible fixed assets +€2.4m
up €2.4m (+107.1%), from €2.2m to €4.6m
of which Land and buildings: +€2.3m
- Cash -€53,200
down €53,200 (-89.4%), from €59,499 to €6,299
mainly Investment in fixed assets (net) (-€2.6m) and Tax, wage and social debts (-€28,817)
- Debts after one year +€1.9m
up €1.9m (+141.9%), from €1.3m to €3.2m
- Other debts +€486,756
up €486,756 (+148.2%), from €328,465 to €815,221
- Current portion of long-term debt +€53,685
up €53,685 (+37.5%), from €143,022 to €196,707
- Depreciation +€120,557
up €120,557 (+111.8%), from €107,831 to €228,387
- Gross operating margin +€30,580
up €30,580 (+10.2%), from €299,362 to €329,942
- Taxes -€27,854
no longer reported in 2025 (was €27,854)
- Financial charges +€26,404
up €26,404 (+69.0%), from €38,255 to €64,659
- Other operating charges +€14,280
up €14,280 (+52.6%), from €27,133 to €41,413
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 | €2,452,887 | €4,801,446 | +€2.3m | +95.7% |
| Fixed assets | 21/28 | €2,241,620 | €4,643,378 | +€2.4m | +107.1% |
| Tangible fixed assets | 22/27 | €2,241,620 | €4,643,378 | +€2.4m | +107.1% |
| Land and buildings | 22 | €2,202,312 | €4,513,274 | +€2.3m | +104.9% |
| Plant, machinery and equipment | 23 | €39,049 | €27,424 | -€11,625 | -29.8% |
| Furniture and vehicles | 24 | €259 | €102,680 | +€102,421 | +39483.7% |
| Current assets | 29/58 | €211,267 | €158,067 | -€53,200 | -25.2% |
| Amounts receivable within one year | 40/41 | €151,768 | €151,768 | = | 0.0% |
| Other amounts receivable | 41 | €151,768 | €151,768 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €59,499 | €6,299 | -€53,200 | -89.4% |
| Total equity and liabilities | 10/49 | €2,452,887 | €4,801,446 | +€2.3m | +95.7% |
| Equity | 10/15 | €613,577 | €598,379 | -€15,198 | -2.5% |
| Contributions | 10/11 | €242,000 | €242,000 | = | 0.0% |
| Capital | 10 | €242,000 | €242,000 | = | 0.0% |
| Issued capital | 100 | €242,000 | €242,000 | = | 0.0% |
| Reserves | 13 | €66,411 | €66,411 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,200 | €24,200 | = | 0.0% |
| Legal reserve | 130 | €24,200 | €24,200 | = | 0.0% |
| Distributable reserves | 133 | €42,211 | €42,211 | = | 0.0% |
| Profit (loss) carried forward | 14 | €305,166 | €289,968 | -€15,198 | -5.0% |
| Amounts payable | 17/49 | €1,839,310 | €4,203,067 | +€2.4m | +128.5% |
| Amounts payable after more than one year | 17 | €1,318,646 | €3,189,276 | +€1.9m | +141.9% |
| Financial debts | 170/4 | €1,318,646 | €3,189,276 | +€1.9m | +141.9% |
| Amounts payable within one year | 42/48 | €520,664 | €1,013,791 | +€493,126 | +94.7% |
| Current portion of amounts payable after more than one year | 42 | €143,022 | €196,707 | +€53,685 | +37.5% |
| Trade debts | 44 | €19,282 | €785 | -€18,497 | -95.9% |
| Suppliers | 440/4 | €19,282 | €785 | -€18,497 | -95.9% |
| Taxes, remuneration and social security | 45 | €29,895 | €1,078 | -€28,817 | -96.4% |
| Taxes | 450/3 | €29,802 | - | -€29,802 | |
| Remuneration and social security | 454/9 | €93 | €1,078 | +€985 | +1062.2% |
| Other amounts payable | 47/48 | €328,465 | €815,221 | +€486,756 | +148.2% |
| Remuneration, social security and pensions | 62 | €9,538 | €10,690 | +€1,152 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,831 | €228,387 | +€120,557 | +111.8% |
| Other operating charges | 640/8 | €27,133 | €41,413 | +€14,280 | +52.6% |
| Gross operating margin | 9900 | €299,362 | €329,942 | +€30,580 | +10.2% |
| Operating profit (loss) | 9901 | €154,861 | €49,452 | -€105,409 | -68.1% |
| Financial income | 75/76B | €1 | €9 | +€9 | +1702.0% |
| Recurring financial income | 75 | €1 | €9 | +€9 | +1702.0% |
| Financial charges | 65/66B | €38,255 | €64,659 | +€26,404 | +69.0% |
| Recurring financial charges | 65 | €38,255 | €64,659 | +€26,404 | +69.0% |
| Profit (loss) for the period before taxes | 9903 | €116,607 | -€15,198 | -€131,805 | |
| Income taxes | 67/77 | €27,854 | - | -€27,854 | |
| Profit (loss) for the period | 9904 | €88,753 | -€15,198 | -€103,951 | |
| Profit (loss) for the period to be appropriated | 9905 | €88,753 | -€15,198 | -€103,951 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.