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Maître André: 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

Maître André

BE 0835.083.688
NACE 46.331, Wholesale trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €1.2m+€254,269
Equity
€1.8m
2024 · €1.5m+€263,342
Cash
€2.0m
2024 · €499,868+€1.5m
Balance sheet total
€11.6m
2024 · €9.8m+€1.8m

Largest movements

2024 to 2025
Assets
  • Receivables within one year +€1.5m

    up €1.5m (+98.1%), from €1.5m to €3.0m

    of which Other amounts receivable: +€1.2m

  • Cash +€1.5m

    up €1.5m (+291.2%), from €499,868 to €2.0m

    mainly Net result for the year (+€1.5m) and Other debts (+€1.4m)

  • Tangible fixed assets -€939,691

    down €939,691 (-15.5%), from €6.0m to €5.1m

    of which Plant, machinery and equipment: -€1.1m

  • Stocks and contracts -€409,559

    down €409,559 (-34.7%), from €1.2m to €772,149

  • Current investments +€253,207

    new in 2025: €253,207

Equity and liabilities
  • Other debts +€1.4m

    up €1.4m (+52.1%), from €2.7m to €4.1m

  • Reserves +€267,401

    up €267,401 (+18.5%), from €1.4m to €1.7m

  • Trade debts +€225,152

    up €225,152 (+27.3%), from €824,033 to €1.0m

Income statement
  • Gross operating margin +€148,961

    up €148,961 (+5.3%), from €2.8m to €3.0m

  • Financial charges -€132,628

    down €132,628 (-39.8%), from €333,276 to €200,649

  • Taxes +€89,774

    up €89,774 (+180.1%), from €49,835 to €139,609

  • Staff costs -€56,377

    down €56,377 (-7.5%), from €747,891 to €691,514

  • Write-downs +€38,493

    up €38,493, from -€38,493 to €0

From the 2024 result to the 2025 result

effect on the 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 €1.2m
Gross operating margin +€148,961
Staff costs +€56,377
Depreciation -€1,333
Write-downs -€38,493
Other operating charges +€4,231
Other operating items +€77,920
Financial income -€36,248
Financial charges +€132,628
Taxes -€89,774
Result 2025 €1.5m

Cash bridge derived

cash 2024 to 2025

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 +€2.5m
Investment +€257,712
Financing -€1.3m
Cash 2024 €499,868
Net result for the year +€1.5m
Depreciation +€467,013
Stocks and contracts +€409,559
Receivables within one year -€1.5m
Deferred charges and accrued income +€6,269
Trade debts +€225,152
Tax, wage and social debts +€13,446
Other debts +€1.4m
Accrued charges and deferred income +€188
Investment in fixed assets (net) +€510,918
Current investments -€253,207
Debts after one year -€443
Current portion of long-term debt -€85,688
Short-term financial debts -€29,748
Contributions, distributions and other -€1.2m
Cash 2025 €2.0m
Every line side by side 54 lines
Line Code 2024 2025 Change %
Total assets 20/58 €9,769,526 €11,561,863 +€1.8m +18.3%
Formation expenses 20 - €9,027 +€9,027
Fixed assets 21/28 €6,440,207 €5,453,248 -€986,959 -15.3%
Intangible fixed assets 21 €383,627 €347,910 -€35,718 -9.3%
Tangible fixed assets 22/27 €6,045,030 €5,105,338 -€939,691 -15.5%
Plant, machinery and equipment 23 €1,299,699 €179,553 -€1.1m -86.2%
Furniture and vehicles 24 €94,904 €68,299 -€26,604 -28.0%
Leasing and similar rights 25 €4,087,066 €3,862,462 -€224,604 -5.5%
Other tangible fixed assets 26 €563,361 €995,023 +€431,662 +76.6%
Financial fixed assets 28 €11,550 €0 -€11,550 -100.0%
Current assets 29/58 €3,329,320 €6,099,588 +€2.8m +83.2%
Stocks and contracts in progress 3 €1,181,708 €772,149 -€409,559 -34.7%
Stocks 30/36 €1,181,708 €772,149 -€409,559 -34.7%
Amounts receivable within one year 40/41 €1,506,244 €2,983,548 +€1.5m +98.1%
Trade receivables 40 €1,336,964 €1,598,455 +€261,490 +19.6%
Other amounts receivable 41 €169,280 €1,385,093 +€1.2m +718.2%
Current investments 50/53 - €253,207 +€253,207
Cash at bank and in hand 54/58 €499,868 €1,955,454 +€1.5m +291.2%
Deferred charges and accrued income 490/1 €141,500 €135,231 -€6,269 -4.4%
Total equity and liabilities 10/49 €9,769,526 €11,561,863 +€1.8m +18.3%
Equity 10/15 €1,495,014 €1,758,356 +€263,342 +17.6%
Contributions 10/11 €50,000 €45,941 -€4,059 -8.1%
Reserves 13 €1,445,014 €1,712,415 +€267,401 +18.5%
Distributable reserves 133 €1,445,014 €1,712,415 +€267,401 +18.5%
Profit (loss) carried forward 14 €0 €0 =
Amounts payable 17/49 €8,274,512 €9,803,507 +€1.5m +18.5%
Amounts payable after more than one year 17 €4,232,896 €4,232,452 -€443 0.0%
Financial debts 170/4 €4,232,896 €4,232,452 -€443 0.0%
Amounts payable within one year 42/48 €4,025,147 €5,554,397 +€1.5m +38.0%
Current portion of amounts payable after more than one year 42 €376,975 €291,287 -€85,688 -22.7%
Financial debts 43 €29,748 €0 -€29,748 -100.0%
Credit institutions 430/8 €29,748 €0 -€29,748 -100.0%
Trade debts 44 €824,033 €1,049,184 +€225,152 +27.3%
Suppliers 440/4 €824,033 €1,049,184 +€225,152 +27.3%
Taxes, remuneration and social security 45 €93,397 €106,843 +€13,446 +14.4%
Taxes 450/3 €6,486 €10,316 +€3,830 +59.1%
Remuneration and social security 454/9 €86,911 €96,527 +€9,616 +11.1%
Other amounts payable 47/48 €2,700,995 €4,107,083 +€1.4m +52.1%
Accrued charges and deferred income 492/3 €16,470 €16,658 +€188 +1.1%
Remuneration, social security and pensions 62 €747,891 €691,514 -€56,377 -7.5%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €465,680 €467,013 +€1,333 +0.3%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) 631/4 -€38,493 €0 +€38,493
Other operating charges 640/8 €30,743 €26,512 -€4,231 -13.8%
Non-recurring operating charges 66A €77,920 €0 -€77,920 -100.0%
Gross operating margin 9900 €2,816,563 €2,965,524 +€148,961 +5.3%
Operating profit (loss) 9901 €1,532,821 €1,780,484 +€247,663 +16.2%
Financial income 75/76B €70,733 €34,486 -€36,248 -51.2%
Recurring financial income 75 €70,733 €34,486 -€36,248 -51.2%
Financial charges 65/66B €333,276 €200,649 -€132,628 -39.8%
Recurring financial charges 65 €333,276 €200,649 -€132,628 -39.8%
Profit (loss) for the period before taxes 9903 €1,270,277 €1,614,321 +€344,043 +27.1%
Income taxes 67/77 €49,835 €139,609 +€89,774 +180.1%
Profit (loss) for the period 9904 €1,220,442 €1,474,712 +€254,269 +20.8%
Profit (loss) for the period to be appropriated 9905 €1,220,442 €1,474,712 +€254,269 +20.8%

Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.