MAQUA Frères: 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.
MAQUA Frères
Largest movements
- Tangible fixed assets -€73,132
down €73,132 (-25.2%), from €290,114 to €216,982
of which Furniture and vehicles: -€58,530
- Reserves -€74,900
down €74,900 (-6.9%), from €1.1m to €1.0m
of which Distributable reserves: -€74,900
- Tax, wage and social debts +€32,452
up €32,452 (+91.6%), from €35,429 to €67,882
of which Taxes: +€36,967
- Debts after one year -€20,493
down €20,493 (-55.2%), from €37,145 to €16,652
of which Financial debts: -€20,493
- Staff costs -€71,046
down €71,046 (-33.2%), from €213,908 to €142,862
- Gross operating margin -€59,879
down €59,879 (-16.4%), from €364,411 to €304,532
- Financial income +€4,584
up €4,584 (+95.9%), from €4,782 to €9,366
- Taxes +€3,857
up €3,857 (+17.4%), from €22,209 to €26,066
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 | €1,332,326 | €1,257,278 | -€75,047 | -5.6% |
| Fixed assets | 21/28 | €290,114 | €216,982 | -€73,132 | -25.2% |
| Tangible fixed assets | 22/27 | €290,114 | €216,982 | -€73,132 | -25.2% |
| Land and buildings | 22 | €96,767 | €96,399 | -€368 | -0.4% |
| Plant, machinery and equipment | 23 | €49,818 | €35,584 | -€14,235 | -28.6% |
| Furniture and vehicles | 24 | €143,529 | €84,999 | -€58,530 | -40.8% |
| Current assets | 29/58 | €1,042,212 | €1,040,297 | -€1,915 | -0.2% |
| Stocks and contracts in progress | 3 | €2,922 | €2,320 | -€602 | -20.6% |
| Stocks | 30/36 | €2,922 | €2,320 | -€602 | -20.6% |
| Amounts receivable within one year | 40/41 | €196,567 | €192,642 | -€3,925 | -2.0% |
| Trade receivables | 40 | €166,518 | €138,627 | -€27,891 | -16.7% |
| Other amounts receivable | 41 | €30,049 | €54,016 | +€23,966 | +79.8% |
| Cash at bank and in hand | 54/58 | €837,518 | €833,954 | -€3,564 | -0.4% |
| Deferred charges and accrued income | 490/1 | €5,206 | €11,381 | +€6,175 | +119% |
| Total equity and liabilities | 10/49 | €1,332,326 | €1,257,278 | -€75,047 | -5.6% |
| Equity | 10/15 | €1,218,436 | €1,144,278 | -€74,158 | -6.1% |
| Contributions | 10/11 | €7,933 | €7,933 | = | 0.0% |
| Reserves | 13 | €1,087,474 | €1,012,574 | -€74,900 | -6.9% |
| Non-distributable reserves | 130/1 | €1,983 | €1,983 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,983 | €1,983 | = | 0.0% |
| Distributable reserves | 133 | €1,085,491 | €1,010,591 | -€74,900 | -6.9% |
| Profit (loss) carried forward | 14 | €123,029 | €123,772 | +€742 | +0.6% |
| Amounts payable | 17/49 | €113,890 | €113,000 | -€890 | -0.8% |
| Amounts payable after more than one year | 17 | €37,145 | €16,652 | -€20,493 | -55.2% |
| Financial debts | 170/4 | €34,845 | €14,352 | -€20,493 | -58.8% |
| Other amounts payable | 178/9 | €2,300 | €2,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €76,745 | €96,348 | +€19,603 | +25.5% |
| Current portion of amounts payable after more than one year | 42 | €19,970 | €20,493 | +€523 | +2.6% |
| Trade debts | 44 | €14,112 | €7,352 | -€6,760 | -47.9% |
| Suppliers | 440/4 | €14,112 | €7,352 | -€6,760 | -47.9% |
| Taxes, remuneration and social security | 45 | €35,429 | €67,882 | +€32,452 | +91.6% |
| Taxes | 450/3 | €18,849 | €55,816 | +€36,967 | +196% |
| Remuneration and social security | 454/9 | €16,580 | €12,065 | -€4,515 | -27.2% |
| Other amounts payable | 47/48 | €7,234 | €622 | -€6,613 | -91.4% |
| Remuneration, social security and pensions | 62 | €213,908 | €142,862 | -€71,046 | -33.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,127 | €66,639 | -€1,488 | -2.2% |
| Other operating charges | 640/8 | €6,026 | €6,916 | +€890 | +14.8% |
| Gross operating margin | 9900 | €364,411 | €304,532 | -€59,879 | -16.4% |
| Operating profit (loss) | 9901 | €76,351 | €88,115 | +€11,764 | +15.4% |
| Financial income | 75/76B | €4,782 | €9,366 | +€4,584 | +95.9% |
| Recurring financial income | 75 | €4,782 | €9,366 | +€4,584 | +95.9% |
| Financial charges | 65/66B | €3,116 | €2,672 | -€444 | -14.2% |
| Recurring financial charges | 65 | €3,116 | €2,672 | -€444 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €78,016 | €94,809 | +€16,792 | +21.5% |
| Income taxes | 67/77 | €22,209 | €26,066 | +€3,857 | +17.4% |
| Profit (loss) for the period | 9904 | €55,807 | €68,742 | +€12,936 | +23.2% |
| Profit (loss) for the period to be appropriated | 9905 | €55,807 | €68,742 | +€12,936 | +23.2% |
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 27 October 2026 via checked.be.