MAO LEASE: what changed
What changed
MAO LEASE
NACE 77.320, Rental and leasing activities
filed annual accounts (NBB)
Net result for the year
€12,494
2023 · €16,334-€3,840
Equity
€190,072
2023 · €177,578+€12,494
Cash
€3,191
2023 · €1,817+€1,374
Balance sheet total
€441,411
2023 · €447,703-€6,292
Largest movements
Assets
- Tangible fixed assets -€16,616
down €16,616 (-5.1%), from €326,064 to €309,447
of which Plant, machinery and equipment: -€24,350
- Receivables within one year +€10,647
up €10,647 (+9.1%), from €116,465 to €127,112
of which Trade receivables: +€17,844
Equity and liabilities
- Trade debts -€31,130
down €31,130 (-14.0%), from €221,706 to €190,576
- Other debts +€18,529
up €18,529 (+99.5%), from €18,615 to €37,143
- Reserves +€12,494
up €12,494 (+12.5%), from €100,123 to €112,617
- Current portion of long-term debt -€6,264
no longer reported in 2024 (was €6,264)
Income statement
- Depreciation +€17,872
up €17,872 (+27.1%), from €66,039 to €83,912
- Taxes -€7,927
down €7,927 (-42.4%), from €18,685 to €10,758
- Gross operating margin +€6,591
up €6,591 (+6.3%), from €105,141 to €111,731
- Financial income +€1,642
up €1,642 (+122%), from €1,341 to €2,983
Change in the result, 2023 to 2024
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 2023
€16,334
Gross operating margin
+€6,591
Depreciation
-€17,872
Other operating charges
+€633
Other operating items
-€2,658
Financial income
+€1,642
Financial charges
-€102
Taxes
+€7,927
Result 2024
€12,494
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€74,933
Investment
-€67,295
Financing
-€6,264
Cash 2023
€1,817
From operations (derived)
+€74,933
Net result for the year
+€12,494
Depreciation
+€83,912
Receivables within one year
-€10,647
Deferred charges and accrued income
+€1,696
Trade debts
-€31,130
Tax, wage and social debts
+€79
Other debts
+€18,529
Investment (derived)
-€67,295
Investment in fixed assets (net)
-€67,295
Financing
-€6,264
Current portion of long-term debt
-€6,264
Cash 2024
€3,191
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €447,703 | €441,411 | -€6,292 | -1.4% |
| Fixed assets | 21/28 | €326,064 | €309,447 | -€16,616 | -5.1% |
| Tangible fixed assets | 22/27 | €326,064 | €309,447 | -€16,616 | -5.1% |
| Plant, machinery and equipment | 23 | €102,529 | €78,179 | -€24,350 | -23.7% |
| Furniture and vehicles | 24 | €112,685 | €141,009 | +€28,324 | +25.1% |
| Leasing and similar rights | 25 | €110,850 | €90,260 | -€20,590 | -18.6% |
| Current assets | 29/58 | €121,639 | €131,963 | +€10,324 | +8.5% |
| Amounts receivable within one year | 40/41 | €116,465 | €127,112 | +€10,647 | +9.1% |
| Trade receivables | 40 | €59,283 | €77,127 | +€17,844 | +30.1% |
| Other amounts receivable | 41 | €57,182 | €49,985 | -€7,197 | -12.6% |
| Cash at bank and in hand | 54/58 | €1,817 | €3,191 | +€1,374 | +75.6% |
| Deferred charges and accrued income | 490/1 | €3,356 | €1,660 | -€1,696 | -50.5% |
| Total equity and liabilities | 10/49 | €447,703 | €441,411 | -€6,292 | -1.4% |
| Equity | 10/15 | €177,578 | €190,072 | +€12,494 | +7.0% |
| 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 | €100,123 | €112,617 | +€12,494 | +12.5% |
| Distributable reserves | 133 | €100,123 | €112,617 | +€12,494 | +12.5% |
| Profit (loss) carried forward | 14 | €14,955 | €14,955 | = | 0.0% |
| Amounts payable | 17/49 | €270,125 | €251,339 | -€18,786 | -7.0% |
| Amounts payable within one year | 42/48 | €270,125 | €251,339 | -€18,786 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €6,264 | - | -€6,264 | |
| Trade debts | 44 | €221,706 | €190,576 | -€31,130 | -14.0% |
| Suppliers | 440/4 | €221,706 | €190,576 | -€31,130 | -14.0% |
| Taxes, remuneration and social security | 45 | €23,540 | €23,619 | +€79 | +0.3% |
| Taxes | 450/3 | €23,540 | €23,619 | +€79 | +0.3% |
| Other amounts payable | 47/48 | €18,615 | €37,143 | +€18,529 | +99.5% |
| Non-recurring operating income | 76A | €70,067 | €1,417 | -€68,651 | -98.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,039 | €83,912 | +€17,872 | +27.1% |
| Other operating charges | 640/8 | €5,305 | €4,672 | -€633 | -11.9% |
| Non-recurring operating charges | 66A | - | €2,658 | +€2,658 | |
| Gross operating margin | 9900 | €105,141 | €111,731 | +€6,591 | +6.3% |
| Operating profit (loss) | 9901 | €33,796 | €20,489 | -€13,307 | -39.4% |
| Financial income | 75/76B | €1,341 | €2,983 | +€1,642 | +122% |
| Recurring financial income | 75 | €1,341 | €2,983 | +€1,642 | +122% |
| Financial charges | 65/66B | €117 | €220 | +€102 | +87.3% |
| Recurring financial charges | 65 | €117 | €220 | +€102 | +87.3% |
| Profit (loss) for the period before taxes | 9903 | €35,020 | €23,252 | -€11,768 | -33.6% |
| Income taxes | 67/77 | €18,685 | €10,758 | -€7,927 | -42.4% |
| Profit (loss) for the period | 9904 | €16,334 | €12,494 | -€3,840 | -23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,334 | €12,494 | -€3,840 | -23.5% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.