MAEYAERT: what changed
What changed
MAEYAERT
NACE 25.110, Manufacture of metal structures and parts of structures
filed annual accounts (NBB)
Net result for the year
€106,084
2024 · €397,780-€291,696
Equity
€2.4m
2024 · €2.4m-€43,916
Cash
€681,034
2024 · €155,245+€525,789
Balance sheet total
€9.1m
2024 · €9.1m+€70,186
Largest movements
Assets
- Cash +€525,789
up €525,789 (+339%), from €155,245 to €681,034
mainly Depreciation (+€663,822) and Stocks and contracts (+€288,271)
- Stocks and contracts -€288,271
down €288,271 (-18.2%), from €1.6m to €1.3m
of which Stocks: -€214,248
- Intangible fixed assets -€242,702
down €242,702 (-36.7%), from €660,541 to €417,839
Equity and liabilities
- Debts after one year -€258,582
down €258,582 (-10.8%), from €2.4m to €2.1m
- Advances received +€241,636
up €241,636 (+96.8%), from €249,535 to €491,171
- Other debts +€142,975
up €142,975 (+10.6%), from €1.3m to €1.5m
Income statement
- Turnover -€2.1m
down €2.1m (-15.1%), from €13.9m to €11.8m
- Goods and materials -€1.5m
down €1.5m (-23.3%), from €6.3m to €4.8m
of which Purchases: -€1.5m
- Other operating income +€180,150
up €180,150 (+39.9%), from €451,257 to €631,406
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€397,780
Turnover
-€2.1m
Other operating income
+€180,150
Goods and materials
+€1.5m
Services and other goods
-€15,663
Staff costs
+€133,136
Depreciation
-€46,032
Write-downs
+€10,735
Provisions
-€15,305
Other operating charges
+€115
Other operating items
-€2,567
Financial income
+€2,625
Financial charges
+€5,796
Taxes
+€91,544
Result 2025
€106,084
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.4m
Investment
-€449,784
Financing
-€443,560
Cash 2024
€155,245
From operations (derived)
+€1.4m
Net result for the year
+€106,084
Depreciation
+€663,822
Stocks and contracts
+€288,271
Receivables within one year
-€30,521
Deferred charges and accrued income
-€16,185
Trade debts
+€38,262
Tax, wage and social debts
-€11,863
Advances received
+€241,636
Other debts
+€142,975
Accrued charges and deferred income
-€3,347
Investment (derived)
-€449,784
Investment in fixed assets (net)
-€449,784
Financing
-€443,560
Debts after one year
-€258,582
Current portion of long-term debt
-€34,842
Short-term financial debts
-€136
Contributions, distributions and other
-€150,000
Cash 2025
€681,034
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,077,008 | €9,147,195 | +€70,186 | +0.8% |
| Fixed assets | 21/28 | €1,999,802 | €1,785,764 | -€214,038 | -10.7% |
| Intangible fixed assets | 21 | €660,541 | €417,839 | -€242,702 | -36.7% |
| Tangible fixed assets | 22/27 | €1,339,261 | €1,367,925 | +€28,664 | +2.1% |
| Plant, machinery and equipment | 23 | €155,449 | €250,980 | +€95,531 | +61.5% |
| Furniture and vehicles | 24 | €75,719 | €156,385 | +€80,666 | +107% |
| Leasing and similar rights | 25 | €213,282 | €110,933 | -€102,349 | -48.0% |
| Other tangible fixed assets | 26 | €894,811 | €849,627 | -€45,184 | -5.0% |
| Current assets | 29/58 | €7,077,206 | €7,361,430 | +€284,224 | +4.0% |
| Stocks and contracts in progress | 3 | €1,587,652 | €1,299,381 | -€288,271 | -18.2% |
| Stocks | 30/36 | €950,920 | €736,673 | -€214,248 | -22.5% |
| Raw materials and consumables | 30/31 | €691,974 | €736,673 | +€44,698 | +6.5% |
| Finished goods | 33 | €258,946 | €0 | -€258,946 | -100% |
| Contracts in progress | 37 | €636,732 | €562,709 | -€74,023 | -11.6% |
| Amounts receivable within one year | 40/41 | €5,298,233 | €5,328,754 | +€30,521 | +0.6% |
| Trade receivables | 40 | €2,232,161 | €2,248,027 | +€15,866 | +0.7% |
| Other amounts receivable | 41 | €3,066,071 | €3,080,727 | +€14,655 | +0.5% |
| Cash at bank and in hand | 54/58 | €155,245 | €681,034 | +€525,789 | +339% |
| Deferred charges and accrued income | 490/1 | €36,076 | €52,261 | +€16,185 | +44.9% |
| Total equity and liabilities | 10/49 | €9,077,008 | €9,147,195 | +€70,186 | +0.8% |
| Equity | 10/15 | €2,423,703 | €2,379,787 | -€43,916 | -1.8% |
| Contributions | 10/11 | €1,008,000 | €1,008,000 | = | 0.0% |
| Capital | 10 | €1,008,000 | €1,008,000 | = | 0.0% |
| Issued capital | 100 | €1,008,000 | €1,008,000 | = | 0.0% |
| Reserves | 13 | €1,415,703 | €1,371,787 | -€43,916 | -3.1% |
| Non-distributable reserves | 130/1 | €100,800 | €100,800 | = | 0.0% |
| Legal reserve | 130 | €100,800 | €100,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €96,148 | €96,148 | = | 0.0% |
| Distributable reserves | 133 | €1,218,755 | €1,174,839 | -€43,916 | -3.6% |
| Amounts payable | 17/49 | €6,653,305 | €6,767,408 | +€114,103 | +1.7% |
| Amounts payable after more than one year | 17 | €2,398,532 | €2,139,950 | -€258,582 | -10.8% |
| Financial debts | 170/4 | €2,398,532 | €2,139,950 | -€258,582 | -10.8% |
| Leasing and similar obligations | 172 | €149,170 | €78,141 | -€71,029 | -47.6% |
| Credit institutions | 173 | €2,249,361 | €2,061,809 | -€187,553 | -8.3% |
| Amounts payable within one year | 42/48 | €4,215,516 | €4,591,547 | +€376,032 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €329,324 | €294,482 | -€34,842 | -10.6% |
| Financial debts | 43 | €42,608 | €42,472 | -€136 | -0.3% |
| Credit institutions | 430/8 | €42,608 | €42,472 | -€136 | -0.3% |
| Trade debts | 44 | €1,516,302 | €1,554,564 | +€38,262 | +2.5% |
| Suppliers | 440/4 | €1,516,302 | €1,554,564 | +€38,262 | +2.5% |
| Advances received on contracts in progress | 46 | €249,535 | €491,171 | +€241,636 | +96.8% |
| Taxes, remuneration and social security | 45 | €728,295 | €716,432 | -€11,863 | -1.6% |
| Taxes | 450/3 | €123,788 | €153,440 | +€29,652 | +24.0% |
| Remuneration and social security | 454/9 | €604,507 | €562,991 | -€41,516 | -6.9% |
| Other amounts payable | 47/48 | €1,349,452 | €1,492,427 | +€142,975 | +10.6% |
| Accrued charges and deferred income | 492/3 | €39,258 | €35,911 | -€3,347 | -8.5% |
| Operating income | 70/76A | €14,699,708 | €12,773,981 | -€1.9m | -13.1% |
| Turnover | 70 | €13,897,251 | €11,793,941 | -€2.1m | -15.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €348,700 | €304,634 | -€44,067 | -12.6% |
| Other operating income | 74 | €451,257 | €631,406 | +€180,150 | +39.9% |
| Non-recurring operating income | 76A | €2,500 | €44,000 | +€41,500 | +1,660% |
| Operating charges | 60/66A | €14,052,991 | €12,518,926 | -€1.5m | -10.9% |
| Goods for resale, raw materials and consumables | 60 | €6,290,367 | €4,823,288 | -€1.5m | -23.3% |
| Purchases | 600/8 | €6,401,413 | €4,867,986 | -€1.5m | -24.0% |
| Change in stocks: decrease (increase) | 609 | -€111,046 | -€44,698 | +€66,348 | +59.7% |
| Services and other goods | 61 | €2,675,203 | €2,690,866 | +€15,663 | +0.6% |
| Remuneration, social security and pensions | 62 | €4,450,755 | €4,317,619 | -€133,136 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €617,791 | €663,822 | +€46,032 | +7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,735 | - | -€10,735 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€15,305 | - | +€15,305 | |
| Other operating charges | 640/8 | €23,446 | €23,331 | -€115 | -0.5% |
| Operating profit (loss) | 9901 | €646,717 | €255,055 | -€391,661 | -60.6% |
| Financial income | 75/76B | €41,123 | €43,749 | +€2,625 | +6.4% |
| Recurring financial income | 75 | €41,123 | €43,749 | +€2,625 | +6.4% |
| Income from current assets | 751 | €37,097 | €43,455 | +€6,357 | +17.1% |
| Other financial income | 752/9 | €4,026 | €294 | -€3,732 | -92.7% |
| Financial charges | 65/66B | €147,962 | €142,166 | -€5,796 | -3.9% |
| Recurring financial charges | 65 | €147,962 | €142,166 | -€5,796 | -3.9% |
| Debt charges | 650 | €143,114 | €140,591 | -€2,523 | -1.8% |
| Other financial charges | 652/9 | €4,848 | €1,575 | -€3,272 | -67.5% |
| Profit (loss) for the period before taxes | 9903 | €539,878 | €156,638 | -€383,240 | -71.0% |
| Income taxes | 67/77 | €142,098 | €50,554 | -€91,544 | -64.4% |
| Taxes | 670/3 | €142,098 | €50,554 | -€91,544 | -64.4% |
| Profit (loss) for the period | 9904 | €397,780 | €106,084 | -€291,696 | -73.3% |
| Profit (loss) for the period to be appropriated | 9905 | €397,780 | €106,084 | -€291,696 | -73.3% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.