Maeter Invest: 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
Maeter Invest
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€699,507
2024 · €561,315+€138,193
Equity
€2.1m
2024 · €2.1m-€493
Cash
€103,744
2024 · €99,358+€4,386
Balance sheet total
€15.6m
2024 · €19.0m-€3.4m
Largest movements
Assets
- Stocks and contracts -€3.2m
down €3.2m (-20.5%), from €15.7m to €12.5m
Equity and liabilities
- Debts after one year -€5.4m
down €5.4m (-46.5%), from €11.6m to €6.2m
- Other debts +€2.0m
up €2.0m (+325%), from €615,731 to €2.6m
- Current portion of long-term debt -€1.5m
down €1.5m (-63.0%), from €2.4m to €890,081
- Short-term financial debts +€850,939
up €850,939 (+54.9%), from €1.5m to €2.4m
- Trade debts +€395,328
up €395,328 (+4,528%), from €8,730 to €404,058
Income statement
- Gross operating margin +€100,003
up €100,003 (+8.0%), from €1.2m to €1.3m
- Financial charges -€82,289
down €82,289 (-21.9%), from €375,710 to €293,420
- Taxes +€47,224
up €47,224 (+21.7%), from €218,000 to €265,224
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
€561,315
Gross operating margin
+€100,003
Depreciation
-€826
Other operating charges
+€2,317
Financial income
-€160
Financial charges
+€82,289
Taxes
-€47,224
Deferred taxes and other
+€1,794
Result 2025
€699,507
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
+€6.8m
Investment
-€13,482
Financing
-€6.8m
Cash 2024
€99,358
From operations (derived)
+€6.8m
Net result for the year
+€699,507
Depreciation
+€94,048
Stocks and contracts
+€3.2m
Receivables within one year
+€84,678
Smaller working-capital items
-€14,498
Trade debts
+€395,328
Tax, wage and social debts
+€307,421
Other debts
+€2.0m
Investment (derived)
-€13,482
Investment in fixed assets (net)
-€13,482
Financing
-€6.8m
Debts after one year
-€5.4m
Current portion of long-term debt
-€1.5m
Short-term financial debts
+€850,939
Contributions, distributions and other
-€700,000
Cash 2025
€103,744
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,968,338 | €15,578,565 | -€3.4m | -17.9% |
| Fixed assets | 21/28 | €2,400,801 | €2,320,235 | -€80,567 | -3.4% |
| Tangible fixed assets | 22/27 | €2,400,611 | €2,320,045 | -€80,567 | -3.4% |
| Land and buildings | 22 | €1,790,799 | €1,753,954 | -€36,844 | -2.1% |
| Furniture and vehicles | 24 | €579 | €24 | -€555 | -95.8% |
| Leasing and similar rights | 25 | €19,887 | €1,882 | -€18,005 | -90.5% |
| Other tangible fixed assets | 26 | €589,347 | €564,184 | -€25,163 | -4.3% |
| Financial fixed assets | 28 | €190 | €190 | = | 0.0% |
| Current assets | 29/58 | €16,567,536 | €13,258,330 | -€3.3m | -20.0% |
| Stocks and contracts in progress | 3 | €15,704,760 | €12,478,336 | -€3.2m | -20.5% |
| Stocks | 30/36 | €15,704,760 | €12,478,336 | -€3.2m | -20.5% |
| Amounts receivable within one year | 40/41 | €758,503 | €673,825 | -€84,678 | -11.2% |
| Trade receivables | 40 | €197,254 | €168,381 | -€28,873 | -14.6% |
| Other amounts receivable | 41 | €561,249 | €505,445 | -€55,804 | -9.9% |
| Cash at bank and in hand | 54/58 | €99,358 | €103,744 | +€4,386 | +4.4% |
| Deferred charges and accrued income | 490/1 | €4,915 | €2,425 | -€2,491 | -50.7% |
| Total equity and liabilities | 10/49 | €18,968,338 | €15,578,565 | -€3.4m | -17.9% |
| Equity | 10/15 | €2,079,678 | €2,079,185 | -€493 | 0.0% |
| Contributions | 10/11 | €77,500 | €77,500 | = | 0.0% |
| Capital | 10 | €77,500 | €77,500 | = | 0.0% |
| Issued capital | 100 | €77,500 | €77,500 | = | 0.0% |
| Reserves | 13 | €1,017,715 | €991,793 | -€25,922 | -2.5% |
| Non-distributable reserves | 130/1 | €7,750 | €7,750 | = | 0.0% |
| Legal reserve | 130 | €7,750 | €7,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €948,449 | €922,527 | -€25,922 | -2.7% |
| Distributable reserves | 133 | €61,515 | €61,515 | = | 0.0% |
| Profit (loss) carried forward | 14 | €984,463 | €1,009,893 | +€25,429 | +2.6% |
| Provisions and deferred taxes | 16 | €362,315 | €353,674 | -€8,641 | -2.4% |
| Provisions for liabilities and charges | 160/5 | €46,165 | €46,165 | = | 0.0% |
| Pensions and similar obligations | 160 | €46,165 | €46,165 | = | 0.0% |
| Deferred taxes | 168 | €316,150 | €307,509 | -€8,641 | -2.7% |
| Amounts payable | 17/49 | €16,526,345 | €13,145,705 | -€3.4m | -20.5% |
| Amounts payable after more than one year | 17 | €11,634,174 | €6,220,552 | -€5.4m | -46.5% |
| Financial debts | 170/4 | €11,634,174 | €6,220,552 | -€5.4m | -46.5% |
| Amounts payable within one year | 42/48 | €4,880,370 | €6,921,700 | +€2.0m | +41.8% |
| Current portion of amounts payable after more than one year | 42 | €2,406,472 | €890,081 | -€1.5m | -63.0% |
| Financial debts | 43 | €1,548,740 | €2,399,680 | +€850,939 | +54.9% |
| Credit institutions | 430/8 | €1,548,740 | €2,399,680 | +€850,939 | +54.9% |
| Trade debts | 44 | €8,730 | €404,058 | +€395,328 | +4,528% |
| Suppliers | 440/4 | €8,730 | €404,058 | +€395,328 | +4,528% |
| Taxes, remuneration and social security | 45 | €300,696 | €608,117 | +€307,421 | +102% |
| Taxes | 450/3 | €300,696 | €608,117 | +€307,421 | +102% |
| Other amounts payable | 47/48 | €615,731 | €2,619,763 | +€2.0m | +325% |
| Accrued charges and deferred income | 492/3 | €11,801 | €3,453 | -€8,348 | -70.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,222 | €94,048 | +€826 | +0.9% |
| Other operating charges | 640/8 | €9,634 | €7,317 | -€2,317 | -24.0% |
| Gross operating margin | 9900 | €1,247,725 | €1,347,727 | +€100,003 | +8.0% |
| Operating profit (loss) | 9901 | €1,144,869 | €1,246,362 | +€101,493 | +8.9% |
| Financial income | 75/76B | €3,308 | €3,148 | -€160 | -4.8% |
| Recurring financial income | 75 | €3,308 | €3,148 | -€160 | -4.8% |
| Financial charges | 65/66B | €375,710 | €293,420 | -€82,289 | -21.9% |
| Recurring financial charges | 65 | €375,710 | €293,420 | -€82,289 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €772,468 | €956,090 | +€183,623 | +23.8% |
| Transfer from deferred taxes | 780 | €6,847 | €8,641 | +€1,794 | +26.2% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €218,000 | €265,224 | +€47,224 | +21.7% |
| Profit (loss) for the period | 9904 | €561,315 | €699,507 | +€138,193 | +24.6% |
| Transfer from tax-exempt reserves | 789 | €20,541 | €25,922 | +€5,381 | +26.2% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €581,856 | €725,429 | +€143,574 | +24.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.