MAESTRO GROUP: 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.
MAESTRO GROUP
Largest movements
- Receivables within one year -€310,204
down €310,204 (-84.4%), from €367,574 to €57,369
- Deferred charges and accrued income +€35,980
new in 2023: €35,980
- Stocks and contracts +€26,788
up €26,788 (+59.5%), from €45,003 to €71,791
- Tangible fixed assets +€16,500
new in 2023: €16,500
- Intangible fixed assets -€6,200
down €6,200 (-39.0%), from €15,917 to €9,717
- Advances received -€133,239
no longer reported in 2023 (was €133,239)
- Other debts -€87,519
down €87,519 (-75.5%), from €115,928 to €28,409
- Current portion of long-term debt -€33,689
down €33,689 (-85.2%), from €39,539 to €5,850
- Profit (loss) carried forward +€25,623
up €25,623 (+185.6%), from €13,803 to €39,426
- Tax, wage and social debts -€15,776
down €15,776 (-63.2%), from €24,965 to €9,190
of which Taxes: -€15,319
- Gross operating margin +€53,518
up €53,518 (+755.3%), from €7,086 to €60,605
- Taxes +€5,052
new in 2023: €5,052
- Staff costs +€3,851
up €3,851 (+31.6%), from €12,199 to €16,051
- Depreciation +€3,300
up €3,300 (+45.2%), from €7,300 to €10,600
- Financial charges +€743
up €743 (+62.0%), from €1,199 to €1,943
of which Non-recurring financial charges: +€779
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €456,051 | €216,399 | -€239,652 | -52.5% |
| Fixed assets | 21/28 | €15,917 | €26,217 | +€10,300 | +64.7% |
| Intangible fixed assets | 21 | €15,917 | €9,717 | -€6,200 | -39.0% |
| Tangible fixed assets | 22/27 | - | €16,500 | +€16,500 | |
| Furniture and vehicles | 24 | - | €16,500 | +€16,500 | |
| Current assets | 29/58 | €440,135 | €190,182 | -€249,952 | -56.8% |
| Stocks and contracts in progress | 3 | €45,003 | €71,791 | +€26,788 | +59.5% |
| Stocks | 30/36 | €45,003 | €71,791 | +€26,788 | +59.5% |
| Amounts receivable within one year | 40/41 | €367,574 | €57,369 | -€310,204 | -84.4% |
| Trade receivables | 40 | €367,574 | €57,369 | -€310,204 | -84.4% |
| Cash at bank and in hand | 54/58 | €27,558 | €25,042 | -€2,516 | -9.1% |
| Deferred charges and accrued income | 490/1 | - | €35,980 | +€35,980 | |
| Total equity and liabilities | 10/49 | €456,051 | €216,399 | -€239,652 | -52.5% |
| Equity | 10/15 | €34,263 | €59,886 | +€25,623 | +74.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,803 | €39,426 | +€25,623 | +185.6% |
| Amounts payable | 17/49 | €421,789 | €156,513 | -€265,276 | -62.9% |
| Amounts payable within one year | 42/48 | €420,689 | €156,513 | -€264,176 | -62.8% |
| Current portion of amounts payable after more than one year | 42 | €39,539 | €5,850 | -€33,689 | -85.2% |
| Financial debts | 43 | €1,756 | - | -€1,756 | |
| Credit institutions | 430/8 | €1,756 | - | -€1,756 | |
| Trade debts | 44 | €105,262 | €113,065 | +€7,803 | +7.4% |
| Suppliers | 440/4 | €105,262 | €113,065 | +€7,803 | +7.4% |
| Advances received on contracts in progress | 46 | €133,239 | - | -€133,239 | |
| Taxes, remuneration and social security | 45 | €24,965 | €9,190 | -€15,776 | -63.2% |
| Taxes | 450/3 | €22,937 | €7,618 | -€15,319 | -66.8% |
| Remuneration and social security | 454/9 | €2,028 | €1,572 | -€457 | -22.5% |
| Other amounts payable | 47/48 | €115,928 | €28,409 | -€87,519 | -75.5% |
| Accrued charges and deferred income | 492/3 | €1,100 | - | -€1,100 | |
| Non-recurring operating income | 76A | - | €6,124 | +€6,124 | |
| Remuneration, social security and pensions | 62 | €12,199 | €16,051 | +€3,851 | +31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,300 | €10,600 | +€3,300 | +45.2% |
| Other operating charges | 640/8 | €1,285 | €1,336 | +€51 | +3.9% |
| Gross operating margin | 9900 | €7,086 | €60,605 | +€53,518 | +755.3% |
| Operating profit (loss) | 9901 | -€13,699 | €32,618 | +€46,317 | |
| Financial charges | 65/66B | €1,199 | €1,943 | +€743 | +62.0% |
| Recurring financial charges | 65 | €1,199 | €1,164 | -€35 | -3.0% |
| Non-recurring financial charges | 66B | - | €779 | +€779 | |
| Profit (loss) for the period before taxes | 9903 | -€14,898 | €30,675 | +€45,573 | |
| Income taxes | 67/77 | - | €5,052 | +€5,052 | |
| Profit (loss) for the period | 9904 | -€14,898 | €25,623 | +€40,521 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,898 | €25,623 | +€40,521 |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.