MAESTRO MEAT: 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.
What changed
MAESTRO MEAT
NACE 46.321, Wholesale of meat and meat products, excluding game and poultry
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€413,748
2024 · €420,336-€6,588
Equity
€1.7m
2024 · €1.2m+€413,748
Cash
€520,355
2024 · €210,802+€309,553
Balance sheet total
€3.3m
2024 · €2.6m+€707,394
Largest movements
Assets
- Receivables within one year +€386,768
up €386,768 (+22.6%), from €1.7m to €2.1m
of which Trade receivables: +€375,026
- Cash +€309,553
up €309,553 (+147%), from €210,802 to €520,355
mainly Net result for the year (+€413,748) and Trade debts (+€309,916)
- Stocks and contracts +€59,369
up €59,369 (+22.6%), from €262,714 to €322,083
of which Stocks: +€57,507
- Tangible fixed assets -€50,225
down €50,225 (-12.0%), from €420,008 to €369,783
of which Furniture and vehicles: -€38,222
Equity and liabilities
- Reserves +€413,748
up €413,748 (+34.1%), from €1.2m to €1.6m
of which Distributable reserves: +€413,748
- Trade debts +€309,916
up €309,916 (+25.5%), from €1.2m to €1.5m
Income statement
- Gross operating margin +€109,399
up €109,399 (+12.1%), from €902,609 to €1.0m
- Staff costs +€63,053
up €63,053 (+24.1%), from €261,860 to €324,913
- Depreciation +€56,086
up €56,086 (+77.2%), from €72,632 to €128,718
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
€420,336
Gross operating margin
+€109,399
Staff costs
-€63,053
Depreciation
-€56,086
Write-downs
-€816
Other operating charges
+€5,419
Other operating items
+€2,162
Financial income
-€937
Financial charges
-€4,638
Taxes
+€1,962
Result 2025
€413,748
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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
+€405,461
Investment
-€76,522
Financing
-€19,386
Cash 2024
€210,802
From operations (derived)
+€405,461
Net result for the year
+€413,748
Depreciation
+€128,718
Stocks and contracts
-€59,369
Receivables within one year
-€386,768
Deferred charges and accrued income
-€3,900
Trade debts
+€309,916
Tax, wage and social debts
+€14,144
Other debts
+€4,234
Accrued charges and deferred income
-€15,262
Investment (derived)
-€76,522
Investment in fixed assets (net)
-€78,494
Current investments
+€1,972
Financing
-€19,386
Debts after one year
-€4,351
Current portion of long-term debt
-€13,806
Short-term financial debts
-€1,229
Cash 2025
€520,355
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,624,725 | €3,332,119 | +€707,394 | +27.0% |
| Fixed assets | 21/28 | €422,538 | €372,314 | -€50,225 | -11.9% |
| Tangible fixed assets | 22/27 | €420,008 | €369,783 | -€50,225 | -12.0% |
| Land and buildings | 22 | €74,349 | €67,214 | -€7,135 | -9.6% |
| Plant, machinery and equipment | 23 | €140,326 | €135,459 | -€4,868 | -3.5% |
| Furniture and vehicles | 24 | €205,332 | €167,110 | -€38,222 | -18.6% |
| Financial fixed assets | 28 | €2,531 | €2,531 | = | 0.0% |
| Current assets | 29/58 | €2,202,187 | €2,959,806 | +€757,619 | +34.4% |
| Stocks and contracts in progress | 3 | €262,714 | €322,083 | +€59,369 | +22.6% |
| Stocks | 30/36 | €155,991 | €213,498 | +€57,507 | +36.9% |
| Contracts in progress | 37 | €106,723 | €108,585 | +€1,862 | +1.7% |
| Amounts receivable within one year | 40/41 | €1,711,342 | €2,098,110 | +€386,768 | +22.6% |
| Trade receivables | 40 | €1,563,945 | €1,938,971 | +€375,026 | +24.0% |
| Other amounts receivable | 41 | €147,397 | €159,140 | +€11,742 | +8.0% |
| Current investments | 50/53 | €1,972 | €0 | -€1,972 | -100% |
| Cash at bank and in hand | 54/58 | €210,802 | €520,355 | +€309,553 | +147% |
| Deferred charges and accrued income | 490/1 | €15,357 | €19,257 | +€3,900 | +25.4% |
| Total equity and liabilities | 10/49 | €2,624,725 | €3,332,119 | +€707,394 | +27.0% |
| Equity | 10/15 | €1,236,995 | €1,650,743 | +€413,748 | +33.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,211,995 | €1,625,743 | +€413,748 | +34.1% |
| Non-distributable reserves | 130/1 | €2,860 | €2,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,860 | €2,860 | = | 0.0% |
| Distributable reserves | 133 | €1,209,135 | €1,622,883 | +€413,748 | +34.2% |
| Amounts payable | 17/49 | €1,387,730 | €1,681,376 | +€293,646 | +21.2% |
| Amounts payable after more than one year | 17 | €4,351 | €0 | -€4,351 | -100% |
| Financial debts | 170/4 | €4,351 | €0 | -€4,351 | -100% |
| Amounts payable within one year | 42/48 | €1,368,117 | €1,681,376 | +€313,259 | +22.9% |
| Current portion of amounts payable after more than one year | 42 | €18,157 | €4,351 | -€13,806 | -76.0% |
| Financial debts | 43 | €52,210 | €50,981 | -€1,229 | -2.4% |
| Credit institutions | 430/8 | €398 | €50,981 | +€50,583 | +12,707% |
| Other loans | 439 | €51,812 | €0 | -€51,812 | -100% |
| Trade debts | 44 | €1,216,988 | €1,526,905 | +€309,916 | +25.5% |
| Suppliers | 440/4 | €1,216,988 | €1,526,905 | +€309,916 | +25.5% |
| Taxes, remuneration and social security | 45 | €56,948 | €71,092 | +€14,144 | +24.8% |
| Taxes | 450/3 | €507 | €19,439 | +€18,931 | +3,731% |
| Remuneration and social security | 454/9 | €56,441 | €51,653 | -€4,788 | -8.5% |
| Other amounts payable | 47/48 | €23,814 | €28,047 | +€4,234 | +17.8% |
| Accrued charges and deferred income | 492/3 | €15,262 | €0 | -€15,262 | -100% |
| Remuneration, social security and pensions | 62 | €261,860 | €324,913 | +€63,053 | +24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,632 | €128,718 | +€56,086 | +77.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€816 | €0 | +€816 | |
| Other operating charges | 640/8 | €8,592 | €3,172 | -€5,419 | -63.1% |
| Non-recurring operating charges | 66A | €2,162 | €0 | -€2,162 | -100% |
| Gross operating margin | 9900 | €902,609 | €1,012,008 | +€109,399 | +12.1% |
| Operating profit (loss) | 9901 | €558,180 | €555,204 | -€2,975 | -0.5% |
| Financial income | 75/76B | €6,601 | €5,664 | -€937 | -14.2% |
| Recurring financial income | 75 | €6,601 | €5,664 | -€937 | -14.2% |
| Financial charges | 65/66B | €3,601 | €8,239 | +€4,638 | +129% |
| Recurring financial charges | 65 | €3,601 | €8,239 | +€4,638 | +129% |
| Profit (loss) for the period before taxes | 9903 | €561,180 | €552,629 | -€8,550 | -1.5% |
| Income taxes | 67/77 | €140,844 | €138,881 | -€1,962 | -1.4% |
| Profit (loss) for the period | 9904 | €420,336 | €413,748 | -€6,588 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €420,336 | €413,748 | -€6,588 | -1.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.