MAUQUOY: 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
MAUQUOY
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€133,310
2024 · €157,557-€24,247
Equity
€2.5m
2024 · €2.4m+€105,064
Cash
€522,484
2024 · €394,014+€128,470
Balance sheet total
€2.7m
2024 · €2.7m+€30,162
Largest movements
Assets
- Cash +€128,470
up €128,470 (+32.6%), from €394,014 to €522,484
mainly Depreciation (+€151,242) and Net result for the year (+€133,310)
- Receivables within one year -€115,525
down €115,525 (-37.8%), from €305,462 to €189,937
of which Trade receivables: -€130,572
- Tangible fixed assets +€30,413
up €30,413 (+2.0%), from €1.5m to €1.5m
of which Plant, machinery and equipment: +€53,726
Equity and liabilities
- Profit (loss) carried forward +€105,064
up €105,064 (+52.7%), from €199,243 to €304,307
- Tax, wage and social debts -€30,848
down €30,848 (-28.0%), from €110,351 to €79,503
of which Taxes: -€35,285
Income statement
- Staff costs +€45,820
up €45,820 (+6.9%), from €662,197 to €708,017
- Taxes -€24,451
down €24,451 (-31.0%), from €78,912 to €54,460
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.
Result 2024
€157,557
Gross operating margin
-€893
Staff costs
-€45,820
Depreciation
-€2,537
Other operating charges
-€848
Other operating items
-€1,302
Financial income
+€1,247
Financial charges
+€1,456
Taxes
+€24,451
Result 2025
€133,310
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€370,875
Investment
-€187,890
Financing
-€54,515
Cash 2024
€394,014
From operations (derived)
+€370,875
Net result for the year
+€133,310
Depreciation
+€151,242
Stocks and contracts
+€20,188
Receivables within one year
+€115,525
Deferred charges and accrued income
-€757
Trade debts
-€458
Tax, wage and social debts
-€30,848
Advances received
-€5,553
Other debts
-€11,774
Investment (derived)
-€187,890
Investment in fixed assets (net)
-€187,890
Financing
-€54,515
Debts after one year
-€19,901
Current portion of long-term debt
-€6,368
Contributions, distributions and other
-€28,246
Cash 2025
€522,484
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,692,186 | €2,722,347 | +€30,162 | +1.1% |
| Fixed assets | 21/28 | €1,535,854 | €1,572,502 | +€36,648 | +2.4% |
| Intangible fixed assets | 21 | €29,174 | €35,408 | +€6,235 | +21.4% |
| Tangible fixed assets | 22/27 | €1,506,080 | €1,536,494 | +€30,413 | +2.0% |
| Land and buildings | 22 | €1,138,935 | €1,139,789 | +€854 | +0.1% |
| Plant, machinery and equipment | 23 | €285,183 | €338,909 | +€53,726 | +18.8% |
| Furniture and vehicles | 24 | €81,962 | €57,796 | -€24,166 | -29.5% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €1,156,332 | €1,149,846 | -€6,486 | -0.6% |
| Stocks and contracts in progress | 3 | €453,264 | €433,076 | -€20,188 | -4.5% |
| Stocks | 30/36 | €453,264 | €433,076 | -€20,188 | -4.5% |
| Amounts receivable within one year | 40/41 | €305,462 | €189,937 | -€115,525 | -37.8% |
| Trade receivables | 40 | €294,162 | €163,590 | -€130,572 | -44.4% |
| Other amounts receivable | 41 | €11,300 | €26,347 | +€15,047 | +133% |
| Cash at bank and in hand | 54/58 | €394,014 | €522,484 | +€128,470 | +32.6% |
| Deferred charges and accrued income | 490/1 | €3,592 | €4,349 | +€757 | +21.1% |
| Total equity and liabilities | 10/49 | €2,692,186 | €2,722,347 | +€30,162 | +1.1% |
| Equity | 10/15 | €2,353,639 | €2,458,703 | +€105,064 | +4.5% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,639,396 | €1,639,396 | = | 0.0% |
| Reserves | 13 | €265,000 | €265,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €240,000 | €240,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €199,243 | €304,307 | +€105,064 | +52.7% |
| Amounts payable | 17/49 | €338,546 | €263,644 | -€74,902 | -22.1% |
| Amounts payable after more than one year | 17 | €22,875 | €2,974 | -€19,901 | -87.0% |
| Financial debts | 170/4 | €22,875 | €2,974 | -€19,901 | -87.0% |
| Amounts payable within one year | 42/48 | €315,671 | €260,670 | -€55,001 | -17.4% |
| Current portion of amounts payable after more than one year | 42 | €26,269 | €19,901 | -€6,368 | -24.2% |
| Financial debts | 43 | €101,750 | €101,750 | = | 0.0% |
| Other loans | 439 | €101,750 | €101,750 | = | 0.0% |
| Trade debts | 44 | €24,345 | €23,887 | -€458 | -1.9% |
| Suppliers | 440/4 | €24,345 | €23,887 | -€458 | -1.9% |
| Advances received on contracts in progress | 46 | €6,859 | €1,305 | -€5,553 | -81.0% |
| Taxes, remuneration and social security | 45 | €110,351 | €79,503 | -€30,848 | -28.0% |
| Taxes | 450/3 | €48,183 | €12,898 | -€35,285 | -73.2% |
| Remuneration and social security | 454/9 | €62,169 | €66,605 | +€4,437 | +7.1% |
| Other amounts payable | 47/48 | €46,098 | €34,324 | -€11,774 | -25.5% |
| Remuneration, social security and pensions | 62 | €662,197 | €708,017 | +€45,820 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €148,705 | €151,242 | +€2,537 | +1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €15,658 | €16,506 | +€848 | +5.4% |
| Non-recurring operating charges | 66A | - | €1,302 | +€1,302 | |
| Gross operating margin | 9900 | €1,068,234 | €1,067,341 | -€893 | -0.1% |
| Operating profit (loss) | 9901 | €241,674 | €190,273 | -€51,401 | -21.3% |
| Financial income | 75/76B | €2,828 | €4,075 | +€1,247 | +44.1% |
| Recurring financial income | 75 | €2,828 | €4,075 | +€1,247 | +44.1% |
| Financial charges | 65/66B | €8,034 | €6,578 | -€1,456 | -18.1% |
| Recurring financial charges | 65 | €8,034 | €6,578 | -€1,456 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €236,468 | €187,770 | -€48,698 | -20.6% |
| Income taxes | 67/77 | €78,912 | €54,460 | -€24,451 | -31.0% |
| Profit (loss) for the period | 9904 | €157,557 | €133,310 | -€24,247 | -15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €157,557 | €133,310 | -€24,247 | -15.4% |
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 24 October 2026 via checked.be.