Maple Garden: what changed
Two fiscal 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.
Maple Garden
Largest movements
- Stocks and contracts -€18.3m
down €18.3m (-79.3%), from €23.0m to €4.8m
- Receivables within one year -€16.0m
down €16.0m (-81.5%), from €19.7m to €3.6m
of which Other amounts receivable: -€15.4m
- Cash +€2.8m
up €2.8m (+204.0%), from €1.4m to €4.2m
mainly Stocks and contracts (+€18.3m) and Receivables within one year (+€16.0m)
- Debts after one year -€21.9m
no longer reported in 2025 (was €21.9m)
- Trade debts -€8.8m
down €8.8m (-64.1%), from €13.8m to €4.9m
- Advances received -€6.9m
no longer reported in 2025 (was €6.9m)
- Other debts +€3.6m
new in 2025: €3.6m
- Profit (loss) carried forward +€1.4m
up €1.4m (+114.2%), from €1.2m to €2.6m
- Gross operating margin +€1.1m
up €1.1m, from -€16,969 to €1.1m
- Taxes +€422,820
up €422,820 (+467.1%), from €90,519 to €513,338
- Financial income +€418,825
up €418,825 (+108.9%), from €384,537 to €803,362
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.
Cash bridge derived
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 | €44,081,817 | €12,627,507 | -€31.5m | -71.4% |
| Current assets | 29/58 | €44,081,817 | €12,627,507 | -€31.5m | -71.4% |
| Stocks and contracts in progress | 3 | €23,004,037 | €4,751,955 | -€18.3m | -79.3% |
| Stocks | 30/36 | €23,004,037 | €4,751,955 | -€18.3m | -79.3% |
| Amounts receivable within one year | 40/41 | €19,690,043 | €3,644,615 | -€16.0m | -81.5% |
| Trade receivables | 40 | €900,487 | €259,970 | -€640,517 | -71.1% |
| Other amounts receivable | 41 | €18,789,556 | €3,384,645 | -€15.4m | -82.0% |
| Cash at bank and in hand | 54/58 | €1,387,738 | €4,218,087 | +€2.8m | +204.0% |
| Deferred charges and accrued income | 490/1 | - | €12,850 | +€12,850 | |
| Total equity and liabilities | 10/49 | €44,081,817 | €12,627,507 | -€31.5m | -71.4% |
| Equity | 10/15 | €1,277,176 | €2,656,768 | +€1.4m | +108.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €7,400 | €7,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,400 | €7,400 | = | 0.0% |
| Legal reserve | 130 | €7,400 | €7,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,208,276 | €2,587,868 | +€1.4m | +114.2% |
| Amounts payable | 17/49 | €42,804,642 | €9,970,739 | -€32.8m | -76.7% |
| Amounts payable after more than one year | 17 | €21,947,477 | - | -€21.9m | |
| Financial debts | 170/4 | €21,947,477 | - | -€21.9m | |
| Amounts payable within one year | 42/48 | €20,841,809 | €9,970,739 | -€10.9m | -52.2% |
| Trade debts | 44 | €13,753,287 | €4,938,817 | -€8.8m | -64.1% |
| Suppliers | 440/4 | €13,753,287 | €4,938,817 | -€8.8m | -64.1% |
| Advances received on contracts in progress | 46 | €6,901,657 | - | -€6.9m | |
| Taxes, remuneration and social security | 45 | €186,864 | €1,463,129 | +€1.3m | +683.0% |
| Taxes | 450/3 | €186,864 | €1,463,129 | +€1.3m | +683.0% |
| Other amounts payable | 47/48 | - | €3,568,793 | +€3.6m | |
| Accrued charges and deferred income | 492/3 | €15,356 | - | -€15,356 | |
| Non-recurring operating income | 76A | - | €7,900 | +€7,900 | |
| Other operating charges | 640/8 | €550 | €569 | +€19 | +3.4% |
| Gross operating margin | 9900 | -€16,969 | €1,092,693 | +€1.1m | |
| Operating profit (loss) | 9901 | -€17,520 | €1,092,123 | +€1.1m | |
| Financial income | 75/76B | €384,537 | €803,362 | +€418,825 | +108.9% |
| Recurring financial income | 75 | €384,537 | €803,362 | +€418,825 | +108.9% |
| Financial charges | 65/66B | €5,203 | €2,554 | -€2,649 | -50.9% |
| Recurring financial charges | 65 | €5,203 | €2,554 | -€2,649 | -50.9% |
| Profit (loss) for the period before taxes | 9903 | €361,814 | €1,892,931 | +€1.5m | +423.2% |
| Income taxes | 67/77 | €90,519 | €513,338 | +€422,820 | +467.1% |
| Profit (loss) for the period | 9904 | €271,296 | €1,379,593 | +€1.1m | +408.5% |
| Profit (loss) for the period to be appropriated | 9905 | €271,296 | €1,379,593 | +€1.1m | +408.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.