Maestec: what changed
Maestec
Largest movements
- Cash +€34,468
up €34,468 (+266%), from €12,934 to €47,402
mainly Net result for the year (+€19,433) and Depreciation (+€18,603)
- Tangible fixed assets -€18,603
down €18,603 (-30.4%), from €61,157 to €42,554
of which Furniture and vehicles: -€18,463
- Receivables within one year -€4,306
down €4,306 (-66.3%), from €6,493 to €2,187
of which Other amounts receivable: -€2,836
- Other debts +€15,857
up €15,857 (+109%), from €14,593 to €30,450
- Current portion of long-term debt -€8,412
down €8,412 (-56.9%), from €14,779 to €6,367
- Tax, wage and social debts +€7,746
up €7,746 (+329%), from €2,356 to €10,102
- Debts after one year -€6,367
down €6,367 (-27.6%), from €23,059 to €16,692
- Trade debts +€2,552
new in 2025: €2,552
- Gross operating margin +€28,258
up €28,258 (+161%), from €17,584 to €45,842
- Taxes +€5,214
up €5,214 (+3,377%), from €154 to €5,368
- Depreciation +€3,320
up €3,320 (+21.7%), from €15,283 to €18,603
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €80,585 | €92,394 | +€11,809 | +14.7% |
| Fixed assets | 21/28 | €61,157 | €42,804 | -€18,353 | -30.0% |
| Tangible fixed assets | 22/27 | €61,157 | €42,554 | -€18,603 | -30.4% |
| Plant, machinery and equipment | 23 | €1,086 | €946 | -€140 | -12.9% |
| Furniture and vehicles | 24 | €60,071 | €41,608 | -€18,463 | -30.7% |
| Financial fixed assets | 28 | - | €250 | +€250 | |
| Current assets | 29/58 | €19,427 | €49,589 | +€30,162 | +155% |
| Amounts receivable within one year | 40/41 | €6,493 | €2,187 | -€4,306 | -66.3% |
| Trade receivables | 40 | €3,657 | €2,187 | -€1,470 | -40.2% |
| Other amounts receivable | 41 | €2,836 | - | -€2,836 | |
| Cash at bank and in hand | 54/58 | €12,934 | €47,402 | +€34,468 | +266% |
| Total equity and liabilities | 10/49 | €80,585 | €92,394 | +€11,809 | +14.7% |
| Equity | 10/15 | €25,799 | €26,231 | +€433 | +1.7% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Capital | 10 | €4,000 | €4,000 | = | 0.0% |
| Issued capital | 100 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,799 | €22,231 | +€433 | +2.0% |
| Amounts payable | 17/49 | €54,786 | €66,163 | +€11,376 | +20.8% |
| Amounts payable after more than one year | 17 | €23,059 | €16,692 | -€6,367 | -27.6% |
| Financial debts | 170/4 | €23,059 | €16,692 | -€6,367 | -27.6% |
| Amounts payable within one year | 42/48 | €31,728 | €49,471 | +€17,743 | +55.9% |
| Current portion of amounts payable after more than one year | 42 | €14,779 | €6,367 | -€8,412 | -56.9% |
| Trade debts | 44 | - | €2,552 | +€2,552 | |
| Suppliers | 440/4 | - | €2,552 | +€2,552 | |
| Taxes, remuneration and social security | 45 | €2,356 | €10,102 | +€7,746 | +329% |
| Taxes | 450/3 | €2,356 | €10,102 | +€7,746 | +329% |
| Other amounts payable | 47/48 | €14,593 | €30,450 | +€15,857 | +109% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,283 | €18,603 | +€3,320 | +21.7% |
| Other operating charges | 640/8 | €636 | €960 | +€323 | +50.8% |
| Non-recurring operating charges | 66A | €4,681 | - | -€4,681 | |
| Gross operating margin | 9900 | €17,584 | €45,842 | +€28,258 | +161% |
| Operating profit (loss) | 9901 | -€3,016 | €26,280 | +€29,296 | |
| Financial income | 75/76B | €0 | €54 | +€54 | +12,465% |
| Recurring financial income | 75 | €0 | €54 | +€54 | +12,465% |
| Financial charges | 65/66B | €1,788 | €1,533 | -€255 | -14.3% |
| Recurring financial charges | 65 | €1,788 | €1,533 | -€255 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,804 | €24,801 | +€29,605 | |
| Income taxes | 67/77 | €154 | €5,368 | +€5,214 | +3,377% |
| Profit (loss) for the period | 9904 | -€4,958 | €19,433 | +€24,391 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,958 | €19,433 | +€24,391 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.