MAITÉ VELGHE: what changed
MAITÉ VELGHE
Largest movements
- Cash +€86,338
up €86,338 (+233%), from €37,063 to €123,400
mainly Net result for the year (+€91,671) and Tax, wage and social debts (+€4,573)
- Receivables within one year +€11,864
up €11,864 (+12.4%), from €95,935 to €107,799
of which Trade receivables: +€34,864
- Reserves +€91,671
up €91,671 (+51.1%), from €179,382 to €271,053
- Tax, wage and social debts +€4,573
up €4,573 (+21.6%), from €21,222 to €25,795
- Gross operating margin +€6,978
up €6,978 (+7.5%), from €92,958 to €99,936
- Financial charges +€1,881
up €1,881 (+172%), from €1,094 to €2,975
- Financial income -€1,694
down €1,694 (-7.3%), from €23,055 to €21,361
- Taxes +€1,573
up €1,573 (+6.8%), from €23,043 to €24,616
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €300,226 | €398,094 | +€97,868 | +32.6% |
| Fixed assets | 21/28 | €66,811 | €66,224 | -€587 | -0.9% |
| Tangible fixed assets | 22/27 | €961 | €374 | -€587 | -61.1% |
| Furniture and vehicles | 24 | €961 | €374 | -€587 | -61.1% |
| Financial fixed assets | 28 | €65,850 | €65,850 | = | 0.0% |
| Current assets | 29/58 | €233,416 | €331,870 | +€98,455 | +42.2% |
| Amounts receivable within one year | 40/41 | €95,935 | €107,799 | +€11,864 | +12.4% |
| Trade receivables | 40 | €72,935 | €107,799 | +€34,864 | +47.8% |
| Other amounts receivable | 41 | €23,000 | €0 | -€23,000 | -100% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €37,063 | €123,400 | +€86,338 | +233% |
| Deferred charges and accrued income | 490/1 | €418 | €671 | +€253 | +60.6% |
| Total equity and liabilities | 10/49 | €300,226 | €398,094 | +€97,868 | +32.6% |
| Equity | 10/15 | €182,382 | €274,053 | +€91,671 | +50.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €179,382 | €271,053 | +€91,671 | +51.1% |
| Distributable reserves | 133 | €179,382 | €271,053 | +€91,671 | +51.1% |
| Amounts payable | 17/49 | €117,844 | €124,041 | +€6,197 | +5.3% |
| Amounts payable after more than one year | 17 | €70,000 | €70,000 | = | 0.0% |
| Financial debts | 170/4 | €70,000 | €70,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €47,844 | €52,722 | +€4,878 | +10.2% |
| Trade debts | 44 | - | €323 | +€323 | |
| Suppliers | 440/4 | - | €323 | +€323 | |
| Taxes, remuneration and social security | 45 | €21,222 | €25,795 | +€4,573 | +21.6% |
| Taxes | 450/3 | €21,222 | €25,795 | +€4,573 | +21.6% |
| Other amounts payable | 47/48 | €26,622 | €26,604 | -€18 | -0.1% |
| Accrued charges and deferred income | 492/3 | - | €1,319 | +€1,319 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €699 | €587 | -€112 | -16.0% |
| Other operating charges | 640/8 | €1,125 | €1,449 | +€323 | +28.7% |
| Gross operating margin | 9900 | €92,958 | €99,936 | +€6,978 | +7.5% |
| Operating profit (loss) | 9901 | €91,134 | €97,900 | +€6,767 | +7.4% |
| Financial income | 75/76B | €23,055 | €21,361 | -€1,694 | -7.3% |
| Recurring financial income | 75 | €23,055 | €21,361 | -€1,694 | -7.3% |
| Financial charges | 65/66B | €1,094 | €2,975 | +€1,881 | +172% |
| Recurring financial charges | 65 | €1,094 | €2,975 | +€1,881 | +172% |
| Profit (loss) for the period before taxes | 9903 | €113,095 | €116,286 | +€3,191 | +2.8% |
| Income taxes | 67/77 | €23,043 | €24,616 | +€1,573 | +6.8% |
| Profit (loss) for the period | 9904 | €90,052 | €91,671 | +€1,618 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €90,052 | €91,671 | +€1,618 | +1.8% |
Next steps
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 8 November 2026 via checked.be.