MAET MANAGEMENT: 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.
MAET MANAGEMENT
Largest movements
- Receivables within one year +€59,477
up €59,477 (+29.8%), from €199,648 to €259,125
- Cash -€52,168
down €52,168 (-75.7%), from €68,959 to €16,791
mainly Contributions, distributions and other (-€63,405) and Receivables within one year (-€59,477)
- Tax, wage and social debts -€26,180
down €26,180 (-31.1%), from €84,185 to €58,005
- Reserves +€16,924
up €16,924 (+4.7%), from €360,991 to €377,915
of which Distributable reserves: +€17,617
- Current portion of long-term debt +€14,706
new in 2024: €14,706
- Depreciation +€9,067
up €9,067 (+76.6%), from €11,839 to €20,906
- Financial income +€8,177
up €8,177 (+183%), from €4,478 to €12,655
- Gross operating margin -€4,607
down €4,607 (-3.6%), from €126,692 to €122,085
- Taxes -€3,408
down €3,408 (-9.7%), from €35,252 to €31,844
From the 2023 result to the 2024 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.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €521,690 | €527,376 | +€5,686 | +1.1% |
| Fixed assets | 21/28 | €253,083 | €251,150 | -€1,933 | -0.8% |
| Tangible fixed assets | 22/27 | €253,083 | €251,150 | -€1,933 | -0.8% |
| Land and buildings | 22 | €253,083 | €241,244 | -€11,839 | -4.7% |
| Plant, machinery and equipment | 23 | - | €1,676 | +€1,676 | |
| Furniture and vehicles | 24 | - | €8,230 | +€8,230 | |
| Current assets | 29/58 | €268,607 | €276,226 | +€7,619 | +2.8% |
| Amounts receivable within one year | 40/41 | €199,648 | €259,125 | +€59,477 | +29.8% |
| Other amounts receivable | 41 | €199,648 | €259,125 | +€59,477 | +29.8% |
| Cash at bank and in hand | 54/58 | €68,959 | €16,791 | -€52,168 | -75.7% |
| Deferred charges and accrued income | 490/1 | - | €310 | +€310 | |
| Total equity and liabilities | 10/49 | €521,690 | €527,376 | +€5,686 | +1.1% |
| Equity | 10/15 | €373,391 | €390,315 | +€16,924 | +4.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €360,991 | €377,915 | +€16,924 | +4.7% |
| Non-distributable reserves | 130/1 | €1,855 | €1,162 | -€693 | -37.4% |
| Reserves not available under the articles | 1311 | €1,855 | €1,162 | -€693 | -37.4% |
| Distributable reserves | 133 | €359,136 | €376,753 | +€17,617 | +4.9% |
| Amounts payable | 17/49 | €148,299 | €137,061 | -€11,238 | -7.6% |
| Amounts payable within one year | 42/48 | €148,299 | €137,061 | -€11,238 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | - | €14,706 | +€14,706 | |
| Trade debts | 44 | €3,521 | €945 | -€2,576 | -73.2% |
| Suppliers | 440/4 | €3,521 | €945 | -€2,576 | -73.2% |
| Taxes, remuneration and social security | 45 | €84,185 | €58,005 | -€26,180 | -31.1% |
| Taxes | 450/3 | €84,185 | €58,005 | -€26,180 | -31.1% |
| Other amounts payable | 47/48 | €60,593 | €63,405 | +€2,812 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,839 | €20,906 | +€9,067 | +76.6% |
| Other operating charges | 640/8 | €1,164 | €1,189 | +€25 | +2.1% |
| Gross operating margin | 9900 | €126,692 | €122,085 | -€4,607 | -3.6% |
| Operating profit (loss) | 9901 | €113,689 | €99,990 | -€13,699 | -12.0% |
| Financial income | 75/76B | €4,478 | €12,655 | +€8,177 | +183% |
| Recurring financial income | 75 | €4,478 | €12,655 | +€8,177 | +183% |
| Financial charges | 65/66B | €154 | €472 | +€318 | +206% |
| Recurring financial charges | 65 | €154 | €472 | +€318 | +206% |
| Profit (loss) for the period before taxes | 9903 | €118,013 | €112,173 | -€5,840 | -4.9% |
| Income taxes | 67/77 | €35,252 | €31,844 | -€3,408 | -9.7% |
| Profit (loss) for the period | 9904 | €82,761 | €80,329 | -€2,432 | -2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €82,761 | €80,329 | -€2,432 | -2.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.