Maurice-William: 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.
Maurice-William
Largest movements
- Receivables within one year +€44,314
up €44,314 (+173%), from €25,585 to €69,898
of which Trade receivables: +€44,314
- Cash +€32,627
up €32,627 (+45.0%), from €72,458 to €105,085
mainly Net result for the year (+€51,518) and Trade debts (+€18,201)
- Deferred charges and accrued income -€1,867
down €1,867 (-31.8%), from €5,875 to €4,007
- Profit (loss) carried forward +€51,518
new in 2025: €51,518
- Trade debts +€18,201
up €18,201 (+806%), from €2,257 to €20,458
- Short-term financial debts +€3,000
up €3,000 (+25.0%), from €12,000 to €15,000
- Other debts -€2,924
down €2,924 (-11.7%), from €25,011 to €22,086
- Current portion of long-term debt +€2,039
new in 2025: €2,039
- Gross operating margin +€37,942
up €37,942 (+96.6%), from €39,267 to €77,209
- Taxes +€8,909
up €8,909 (+79.9%), from €11,151 to €20,060
- Financial charges +€2,348
up €2,348 (+1,477%), from €159 to €2,507
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 | €108,975 | €183,464 | +€74,489 | +68.4% |
| Fixed assets | 21/28 | €5,058 | €4,473 | -€584 | -11.6% |
| Tangible fixed assets | 22/27 | €5,058 | €4,473 | -€584 | -11.6% |
| Plant, machinery and equipment | 23 | €3,455 | €2,579 | -€876 | -25.3% |
| Furniture and vehicles | 24 | €1,603 | €165 | -€1,438 | -89.7% |
| Other tangible fixed assets | 26 | - | €1,729 | +€1,729 | |
| Current assets | 29/58 | €103,918 | €178,991 | +€75,073 | +72.2% |
| Amounts receivable within one year | 40/41 | €25,585 | €69,898 | +€44,314 | +173% |
| Trade receivables | 40 | €24,505 | €68,818 | +€44,314 | +181% |
| Other amounts receivable | 41 | €1,080 | €1,080 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €72,458 | €105,085 | +€32,627 | +45.0% |
| Deferred charges and accrued income | 490/1 | €5,875 | €4,007 | -€1,867 | -31.8% |
| Total equity and liabilities | 10/49 | €108,975 | €183,464 | +€74,489 | +68.4% |
| Equity | 10/15 | €57,366 | €108,884 | +€51,518 | +89.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €53,366 | €53,366 | = | 0.0% |
| Distributable reserves | 133 | €53,366 | €53,366 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €51,518 | +€51,518 | |
| Amounts payable | 17/49 | €51,610 | €74,580 | +€22,970 | +44.5% |
| Amounts payable after more than one year | 17 | - | €1,944 | +€1,944 | |
| Financial debts | 170/4 | - | €1,944 | +€1,944 | |
| Amounts payable within one year | 42/48 | €51,610 | €72,636 | +€21,027 | +40.7% |
| Current portion of amounts payable after more than one year | 42 | - | €2,039 | +€2,039 | |
| Financial debts | 43 | €12,000 | €15,000 | +€3,000 | +25.0% |
| Credit institutions | 430/8 | €12,000 | €15,000 | +€3,000 | +25.0% |
| Trade debts | 44 | €2,257 | €20,458 | +€18,201 | +806% |
| Suppliers | 440/4 | €2,257 | €20,458 | +€18,201 | +806% |
| Advances received on contracts in progress | 46 | €1,061 | €1,061 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €11,281 | €11,992 | +€712 | +6.3% |
| Taxes | 450/3 | €10,800 | €11,992 | +€1,193 | +11.0% |
| Remuneration and social security | 454/9 | €481 | €0 | -€481 | -100% |
| Other amounts payable | 47/48 | €25,011 | €22,086 | -€2,924 | -11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,313 | €2,314 | +€1 | 0.0% |
| Other operating charges | 640/8 | €366 | €973 | +€607 | +166% |
| Gross operating margin | 9900 | €39,267 | €77,209 | +€37,942 | +96.6% |
| Operating profit (loss) | 9901 | €36,588 | €73,922 | +€37,334 | +102% |
| Financial income | 75/76B | €69 | €164 | +€95 | +137% |
| Recurring financial income | 75 | €69 | €164 | +€95 | +137% |
| Financial charges | 65/66B | €159 | €2,507 | +€2,348 | +1,477% |
| Recurring financial charges | 65 | €159 | €2,507 | +€2,348 | +1,477% |
| Profit (loss) for the period before taxes | 9903 | €36,498 | €71,578 | +€35,080 | +96.1% |
| Income taxes | 67/77 | €11,151 | €20,060 | +€8,909 | +79.9% |
| Profit (loss) for the period | 9904 | €25,347 | €51,518 | +€26,171 | +103% |
| Profit (loss) for the period to be appropriated | 9905 | €25,347 | €51,518 | +€26,171 | +103% |
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.