Maesterre: 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.
Maesterre
Largest movements
- Receivables within one year +€10,198
up €10,198 (+3927.3%), from €260 to €10,458
of which Other amounts receivable: +€10,395
- Reserves +€25,749
up €25,749 (+111.4%), from €23,117 to €48,866
- Debts after one year -€25,000
down €25,000 (-20.0%), from €125,000 to €100,000
- Other debts +€9,000
up €9,000 (+4.9%), from €185,000 to €194,000
- Depreciation -€2,702
down €2,702 (-100.0%), from €2,702 to €0
- Financial charges -€2,015
down €2,015 (-17.5%), from €11,529 to €9,514
- Gross operating margin -€1,785
down €1,785 (-4.0%), from €44,233 to €42,448
- Taxes +€663
up €663 (+11.0%), from €6,025 to €6,688
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 | €579,315 | €589,658 | +€10,343 | +1.8% |
| Fixed assets | 21/28 | €570,000 | €570,000 | = | 0.0% |
| Financial fixed assets | 28 | €570,000 | €570,000 | = | 0.0% |
| Current assets | 29/58 | €9,315 | €19,658 | +€10,343 | +111.0% |
| Amounts receivable within one year | 40/41 | €260 | €10,458 | +€10,198 | +3927.3% |
| Trade receivables | 40 | €197 | €0 | -€197 | -100.0% |
| Other amounts receivable | 41 | €63 | €10,458 | +€10,395 | +16520.6% |
| Cash at bank and in hand | 54/58 | €9,055 | €9,201 | +€145 | +1.6% |
| Total equity and liabilities | 10/49 | €579,315 | €589,658 | +€10,343 | +1.8% |
| Equity | 10/15 | €233,117 | €258,866 | +€25,749 | +11.0% |
| Contributions | 10/11 | €210,000 | €210,000 | = | 0.0% |
| Reserves | 13 | €23,117 | €48,866 | +€25,749 | +111.4% |
| Distributable reserves | 133 | €23,117 | €48,866 | +€25,749 | +111.4% |
| Amounts payable | 17/49 | €346,198 | €330,793 | -€15,406 | -4.4% |
| Amounts payable after more than one year | 17 | €125,000 | €100,000 | -€25,000 | -20.0% |
| Financial debts | 170/4 | €125,000 | €100,000 | -€25,000 | -20.0% |
| Amounts payable within one year | 42/48 | €218,295 | €227,888 | +€9,593 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €25,000 | = | 0.0% |
| Trade debts | 44 | €190 | €479 | +€289 | +152.4% |
| Suppliers | 440/4 | €190 | €479 | +€289 | +152.4% |
| Taxes, remuneration and social security | 45 | €8,105 | €8,409 | +€304 | +3.8% |
| Taxes | 450/3 | €8,105 | €8,409 | +€304 | +3.8% |
| Other amounts payable | 47/48 | €185,000 | €194,000 | +€9,000 | +4.9% |
| Accrued charges and deferred income | 492/3 | €2,903 | €2,904 | +€1 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,702 | €0 | -€2,702 | -100.0% |
| Other operating charges | 640/8 | €872 | €544 | -€328 | -37.6% |
| Gross operating margin | 9900 | €44,233 | €42,448 | -€1,785 | -4.0% |
| Operating profit (loss) | 9901 | €40,659 | €41,904 | +€1,245 | +3.1% |
| Financial income | 75/76B | €11 | €47 | +€36 | +315.3% |
| Recurring financial income | 75 | €11 | €47 | +€36 | +315.3% |
| Financial charges | 65/66B | €11,529 | €9,514 | -€2,015 | -17.5% |
| Recurring financial charges | 65 | €11,529 | €9,514 | -€2,015 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €29,142 | €32,437 | +€3,295 | +11.3% |
| Income taxes | 67/77 | €6,025 | €6,688 | +€663 | +11.0% |
| Profit (loss) for the period | 9904 | €23,117 | €25,749 | +€2,632 | +11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,117 | €25,749 | +€2,632 | +11.4% |
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 6 October 2026 via checked.be.