MAISON 5 M: 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.
MAISON 5 M
Largest movements
- Tangible fixed assets -€208,200
down €208,200 (-13.7%), from €1.5m to €1.3m
- Receivables within one year +€120,436
up €120,436 (+30.8%), from €390,519 to €510,955
of which Other amounts receivable: +€276,974
- Cash -€78,970
down €78,970 (-54.4%), from €145,039 to €66,069
mainly Current portion of long-term debt (-€176,133) and Receivables within one year (-€120,436)
- Stocks and contracts -€78,602
down €78,602 (-89.2%), from €88,083 to €9,481
- Current portion of long-term debt -€176,133
down €176,133 (-58.0%), from €303,679 to €127,546
- Tax, wage and social debts -€95,343
down €95,343 (-53.6%), from €178,032 to €82,689
of which Remuneration and social security: -€103,734
- Profit (loss) carried forward +€75,015
up €75,015 (+747%), from €10,048 to €85,062
- Other debts -€47,621
down €47,621 (-84.5%), from €56,332 to €8,711
- Gross operating margin -€1.1m
down €1.1m (-53.0%), from €2.1m to €994,413
- Staff costs -€1.1m
down €1.1m (-63.2%), from €1.7m to €636,942
- Depreciation -€95,073
down €95,073 (-30.4%), from €312,750 to €217,676
- Financial income -€28,702
down €28,702 (-99.7%), from €28,779 to €77
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,207,632 | €1,943,877 | -€263,755 | -11.9% |
| Fixed assets | 21/28 | €1,541,635 | €1,329,975 | -€211,660 | -13.7% |
| Intangible fixed assets | 21 | €14,953 | €11,493 | -€3,460 | -23.1% |
| Tangible fixed assets | 22/27 | €1,523,582 | €1,315,382 | -€208,200 | -13.7% |
| Land and buildings | 22 | €1,024,736 | €943,854 | -€80,883 | -7.9% |
| Plant, machinery and equipment | 23 | €172,124 | €130,883 | -€41,240 | -24.0% |
| Furniture and vehicles | 24 | €30,636 | €17,549 | -€13,087 | -42.7% |
| Leasing and similar rights | 25 | €11,150 | €8,307 | -€2,843 | -25.5% |
| Other tangible fixed assets | 26 | €284,936 | €214,789 | -€70,146 | -24.6% |
| Financial fixed assets | 28 | €3,100 | €3,100 | = | 0.0% |
| Current assets | 29/58 | €665,997 | €613,902 | -€52,095 | -7.8% |
| Amounts receivable after more than one year | 29 | €22,774 | €24,885 | +€2,112 | +9.3% |
| Trade receivables | 290 | - | €24,885 | +€24,885 | |
| Other amounts receivable | 291 | €22,774 | - | -€22,774 | |
| Stocks and contracts in progress | 3 | €88,083 | €9,481 | -€78,602 | -89.2% |
| Stocks | 30/36 | €88,083 | €9,481 | -€78,602 | -89.2% |
| Amounts receivable within one year | 40/41 | €390,519 | €510,955 | +€120,436 | +30.8% |
| Trade receivables | 40 | €179,603 | €23,065 | -€156,538 | -87.2% |
| Other amounts receivable | 41 | €210,916 | €487,890 | +€276,974 | +131% |
| Cash at bank and in hand | 54/58 | €145,039 | €66,069 | -€78,970 | -54.4% |
| Deferred charges and accrued income | 490/1 | €19,582 | €2,512 | -€17,070 | -87.2% |
| Total equity and liabilities | 10/49 | €2,207,632 | €1,943,877 | -€263,755 | -11.9% |
| Equity | 10/15 | €518,798 | €593,812 | +€75,015 | +14.5% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €446,250 | €446,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €440,000 | €440,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,048 | €85,062 | +€75,015 | +747% |
| Amounts payable | 17/49 | €1,688,834 | €1,350,065 | -€338,769 | -20.1% |
| Amounts payable after more than one year | 17 | €868,590 | €851,007 | -€17,583 | -2.0% |
| Financial debts | 170/4 | €718,590 | €701,007 | -€17,583 | -2.4% |
| Other amounts payable | 178/9 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €820,244 | €499,058 | -€321,186 | -39.2% |
| Current portion of amounts payable after more than one year | 42 | €303,679 | €127,546 | -€176,133 | -58.0% |
| Trade debts | 44 | €282,201 | €280,112 | -€2,089 | -0.7% |
| Suppliers | 440/4 | €282,201 | €280,112 | -€2,089 | -0.7% |
| Taxes, remuneration and social security | 45 | €178,032 | €82,689 | -€95,343 | -53.6% |
| Taxes | 450/3 | €18,258 | €26,649 | +€8,390 | +46.0% |
| Remuneration and social security | 454/9 | €159,773 | €56,040 | -€103,734 | -64.9% |
| Other amounts payable | 47/48 | €56,332 | €8,711 | -€47,621 | -84.5% |
| Remuneration, social security and pensions | 62 | €1,729,133 | €636,942 | -€1.1m | -63.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €312,750 | €217,676 | -€95,073 | -30.4% |
| Other operating charges | 640/8 | €6,873 | €12,256 | +€5,382 | +78.3% |
| Non-recurring operating charges | 66A | €16 | €889 | +€873 | +5,599% |
| Gross operating margin | 9900 | €2,116,596 | €994,413 | -€1.1m | -53.0% |
| Operating profit (loss) | 9901 | €67,825 | €126,651 | +€58,826 | +86.7% |
| Financial income | 75/76B | €28,779 | €77 | -€28,702 | -99.7% |
| Recurring financial income | 75 | €28,779 | €77 | -€28,702 | -99.7% |
| Financial charges | 65/66B | €58,765 | €51,154 | -€7,611 | -13.0% |
| Recurring financial charges | 65 | €58,765 | €51,154 | -€7,611 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €37,839 | €75,574 | +€37,736 | +99.7% |
| Income taxes | 67/77 | €450 | €560 | +€110 | +24.5% |
| Profit (loss) for the period | 9904 | €37,389 | €75,015 | +€37,626 | +101% |
| Profit (loss) for the period to be appropriated | 9905 | €37,389 | €75,015 | +€37,626 | +101% |
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 26 October 2026 via checked.be.