Maetens: 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.
Maetens
Largest movements
- Tangible fixed assets -€10,175
down €10,175 (-31.7%), from €32,141 to €21,966
- Cash -€4,921
down €4,921 (-78.3%), from €6,282 to €1,360
mainly Current portion of long-term debt (-€18,628) and Tax, wage and social debts (-€5,604)
- Current portion of long-term debt -€18,628
down €18,628 (-69.1%), from €26,965 to €8,337
- Other debts +€8,992
up €8,992 (+41.1%), from €21,874 to €30,866
- Tax, wage and social debts -€5,604
down €5,604 (-36.2%), from €15,478 to €9,874
- Gross operating margin -€38,246
down €38,246 (-68.2%), from €56,038 to €17,792
- Taxes -€9,097
down €9,097 (-87.2%), from €10,435 to €1,338
- Depreciation +€641
up €641 (+5.9%), from €10,851 to €11,492
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 | €189,196 | €173,365 | -€15,831 | -8.4% |
| Fixed assets | 21/28 | €125,416 | €113,924 | -€11,492 | -9.2% |
| Intangible fixed assets | 21 | €3,276 | €1,958 | -€1,318 | -40.2% |
| Tangible fixed assets | 22/27 | €32,141 | €21,966 | -€10,175 | -31.7% |
| Furniture and vehicles | 24 | €32,141 | €21,966 | -€10,175 | -31.7% |
| Financial fixed assets | 28 | €90,000 | €90,000 | = | 0.0% |
| Current assets | 29/58 | €63,779 | €59,440 | -€4,339 | -6.8% |
| Amounts receivable within one year | 40/41 | €57,498 | €58,080 | +€582 | +1.0% |
| Trade receivables | 40 | €57,311 | €58,080 | +€769 | +1.3% |
| Other amounts receivable | 41 | €187 | - | -€187 | |
| Cash at bank and in hand | 54/58 | €6,282 | €1,360 | -€4,921 | -78.3% |
| Total equity and liabilities | 10/49 | €189,196 | €173,365 | -€15,831 | -8.4% |
| Equity | 10/15 | €56,168 | €56,287 | +€119 | +0.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €54,168 | €54,287 | +€119 | +0.2% |
| Distributable reserves | 133 | €54,168 | €54,287 | +€119 | +0.2% |
| Amounts payable | 17/49 | €133,028 | €117,078 | -€15,950 | -12.0% |
| Amounts payable after more than one year | 17 | €67,601 | €67,601 | = | 0.0% |
| Financial debts | 170/4 | €67,601 | €67,601 | = | 0.0% |
| Amounts payable within one year | 42/48 | €64,407 | €49,477 | -€14,930 | -23.2% |
| Current portion of amounts payable after more than one year | 42 | €26,965 | €8,337 | -€18,628 | -69.1% |
| Trade debts | 44 | €90 | €400 | +€310 | +343.3% |
| Suppliers | 440/4 | €90 | €400 | +€310 | +343.3% |
| Taxes, remuneration and social security | 45 | €15,478 | €9,874 | -€5,604 | -36.2% |
| Taxes | 450/3 | €15,478 | €9,874 | -€5,604 | -36.2% |
| Other amounts payable | 47/48 | €21,874 | €30,866 | +€8,992 | +41.1% |
| Accrued charges and deferred income | 492/3 | €1,020 | - | -€1,020 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,851 | €11,492 | +€641 | +5.9% |
| Other operating charges | 640/8 | €178 | €217 | +€38 | +21.5% |
| Gross operating margin | 9900 | €56,038 | €17,792 | -€38,246 | -68.2% |
| Operating profit (loss) | 9901 | €45,008 | €6,083 | -€38,925 | -86.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,937 | €4,627 | -€310 | -6.3% |
| Recurring financial charges | 65 | €4,937 | €4,627 | -€310 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €40,072 | €1,457 | -€38,615 | -96.4% |
| Income taxes | 67/77 | €10,435 | €1,338 | -€9,097 | -87.2% |
| Profit (loss) for the period | 9904 | €29,637 | €119 | -€29,518 | -99.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,637 | €119 | -€29,518 | -99.6% |
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 5 October 2026 via checked.be.