Maschek Advisory Services: 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.
Maschek Advisory Services
Largest movements
- Cash -€185,827
down €185,827 (-66.9%), from €277,604 to €91,776
mainly Contributions, distributions and other (-€700,000) and Investment in fixed assets (net) (-€218,278)
- Tangible fixed assets +€180,651
up €180,651 (+18.7%), from €964,292 to €1.1m
of which Land and buildings: +€165,041
- Receivables within one year +€110,851
up €110,851 (+74.4%), from €148,981 to €259,832
of which Other amounts receivable: +€109,674
- Other debts +€700,000
new in 2025: €700,000
- Reserves -€500,000
down €500,000 (-39.4%), from €1.3m to €769,860
of which Distributable reserves: -€500,000
- Debts after one year -€82,953
down €82,953 (-38.3%), from €216,848 to €133,895
- Gross operating margin -€68,936
down €68,936 (-18.5%), from €372,065 to €303,129
- Taxes -€19,207
down €19,207 (-23.0%), from €83,562 to €64,355
- Depreciation +€5,360
up €5,360 (+16.6%), from €32,267 to €37,627
- Financial charges -€3,966
down €3,966 (-37.3%), from €10,620 to €6,654
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 | €1,852,466 | €1,969,784 | +€117,318 | +6.3% |
| Fixed assets | 21/28 | €967,262 | €1,147,913 | +€180,651 | +18.7% |
| Tangible fixed assets | 22/27 | €964,292 | €1,144,943 | +€180,651 | +18.7% |
| Land and buildings | 22 | €955,738 | €1,120,779 | +€165,041 | +17.3% |
| Plant, machinery and equipment | 23 | €1,491 | €2,492 | +€1,001 | +67.1% |
| Furniture and vehicles | 24 | €47 | €16,263 | +€16,216 | +34,385% |
| Other tangible fixed assets | 26 | €7,016 | €5,410 | -€1,606 | -22.9% |
| Financial fixed assets | 28 | €2,970 | €2,970 | = | 0.0% |
| Current assets | 29/58 | €885,204 | €821,871 | -€63,333 | -7.2% |
| Amounts receivable after more than one year | 29 | €400,000 | €400,000 | = | 0.0% |
| Other amounts receivable | 291 | €400,000 | €400,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €148,981 | €259,832 | +€110,851 | +74.4% |
| Trade receivables | 40 | - | €1,177 | +€1,177 | |
| Other amounts receivable | 41 | €148,981 | €258,655 | +€109,674 | +73.6% |
| Cash at bank and in hand | 54/58 | €277,604 | €91,776 | -€185,827 | -66.9% |
| Deferred charges and accrued income | 490/1 | €58,620 | €70,263 | +€11,643 | +19.9% |
| Total equity and liabilities | 10/49 | €1,852,466 | €1,969,784 | +€117,318 | +6.3% |
| Equity | 10/15 | €1,462,116 | €962,226 | -€499,890 | -34.2% |
| Contributions | 10/11 | €168,600 | €168,600 | = | 0.0% |
| Reserves | 13 | €1,269,860 | €769,860 | -€500,000 | -39.4% |
| Non-distributable reserves | 130/1 | €16,860 | €16,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €16,860 | €16,860 | = | 0.0% |
| Distributable reserves | 133 | €1,253,000 | €753,000 | -€500,000 | -39.9% |
| Profit (loss) carried forward | 14 | €23,656 | €23,766 | +€110 | +0.5% |
| Amounts payable | 17/49 | €390,350 | €1,007,559 | +€617,208 | +158% |
| Amounts payable after more than one year | 17 | €216,848 | €133,895 | -€82,953 | -38.3% |
| Financial debts | 170/4 | €216,848 | €133,895 | -€82,953 | -38.3% |
| Amounts payable within one year | 42/48 | €170,395 | €873,179 | +€702,784 | +412% |
| Current portion of amounts payable after more than one year | 42 | €98,658 | €99,804 | +€1,147 | +1.2% |
| Trade debts | 44 | €6,702 | €3,292 | -€3,409 | -50.9% |
| Suppliers | 440/4 | €6,702 | €3,292 | -€3,409 | -50.9% |
| Taxes, remuneration and social security | 45 | €65,035 | €70,082 | +€5,047 | +7.8% |
| Taxes | 450/3 | €65,035 | €70,082 | +€5,047 | +7.8% |
| Other amounts payable | 47/48 | - | €700,000 | +€700,000 | |
| Accrued charges and deferred income | 492/3 | €3,108 | €485 | -€2,623 | -84.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,267 | €37,627 | +€5,360 | +16.6% |
| Other operating charges | 640/8 | €6,099 | €7,014 | +€915 | +15.0% |
| Gross operating margin | 9900 | €372,065 | €303,129 | -€68,936 | -18.5% |
| Operating profit (loss) | 9901 | €333,700 | €258,488 | -€75,212 | -22.5% |
| Financial income | 75/76B | €13,380 | €12,630 | -€750 | -5.6% |
| Recurring financial income | 75 | €13,380 | €12,630 | -€750 | -5.6% |
| Financial charges | 65/66B | €10,620 | €6,654 | -€3,966 | -37.3% |
| Recurring financial charges | 65 | €10,620 | €6,654 | -€3,966 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €336,460 | €264,465 | -€71,996 | -21.4% |
| Income taxes | 67/77 | €83,562 | €64,355 | -€19,207 | -23.0% |
| Profit (loss) for the period | 9904 | €252,898 | €200,110 | -€52,788 | -20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €252,898 | €200,110 | -€52,788 | -20.9% |
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.