PATRICK MAILLARD: 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.
PATRICK MAILLARD
Largest movements
- Tangible fixed assets +€32,374
up €32,374 (+67.0%), from €48,289 to €80,663
of which Furniture and vehicles: +€37,726
- Cash -€28,973
down €28,973 (-28.1%), from €102,999 to €74,026
mainly Investment in fixed assets (net) (-€47,845) and Trade debts (-€6,204)
- Receivables within one year +€6,002
up €6,002 (+50.1%), from €11,970 to €17,972
of which Trade receivables: +€5,786
- Stocks and contracts +€3,500
up €3,500 (+35.5%), from €9,858 to €13,358
- Profit (loss) carried forward +€15,083
up €15,083 (+17.9%), from €84,255 to €99,338
- Other debts +€7,555
up €7,555 (+7,869%), from €96 to €7,651
- Trade debts -€6,204
down €6,204 (-74.1%), from €8,372 to €2,169
- Tax, wage and social debts -€4,417
down €4,417 (-24.4%), from €18,069 to €13,652
of which Taxes: -€3,704
- Gross operating margin -€8,867
down €8,867 (-9.6%), from €92,575 to €83,708
- Staff costs -€7,888
down €7,888 (-20.3%), from €38,868 to €30,980
- Depreciation +€6,962
up €6,962 (+74.1%), from €9,394 to €16,356
- Taxes -€3,702
down €3,702 (-45.9%), from €8,072 to €4,370
- Other operating charges +€1,452
up €1,452 (+74.6%), from €1,946 to €3,398
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 | €174,002 | €186,019 | +€12,017 | +6.9% |
| Fixed assets | 21/28 | €49,175 | €80,663 | +€31,488 | +64.0% |
| Tangible fixed assets | 22/27 | €48,289 | €80,663 | +€32,374 | +67.0% |
| Land and buildings | 22 | €38,285 | €33,313 | -€4,972 | -13.0% |
| Plant, machinery and equipment | 23 | €1,469 | €1,089 | -€380 | -25.8% |
| Furniture and vehicles | 24 | €8,535 | €46,261 | +€37,726 | +442% |
| Financial fixed assets | 28 | €886 | - | -€886 | |
| Current assets | 29/58 | €124,827 | €105,356 | -€19,471 | -15.6% |
| Stocks and contracts in progress | 3 | €9,858 | €13,358 | +€3,500 | +35.5% |
| Stocks | 30/36 | €9,858 | €13,358 | +€3,500 | +35.5% |
| Amounts receivable within one year | 40/41 | €11,970 | €17,972 | +€6,002 | +50.1% |
| Trade receivables | 40 | €10,728 | €16,514 | +€5,786 | +53.9% |
| Other amounts receivable | 41 | €1,242 | €1,459 | +€217 | +17.5% |
| Cash at bank and in hand | 54/58 | €102,999 | €74,026 | -€28,973 | -28.1% |
| Total equity and liabilities | 10/49 | €174,002 | €186,019 | +€12,017 | +6.9% |
| Equity | 10/15 | €147,465 | €162,548 | +€15,083 | +10.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,610 | €44,610 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €42,750 | €42,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,255 | €99,338 | +€15,083 | +17.9% |
| Amounts payable | 17/49 | €26,537 | €23,471 | -€3,066 | -11.6% |
| Amounts payable within one year | 42/48 | €26,537 | €23,471 | -€3,066 | -11.6% |
| Trade debts | 44 | €8,372 | €2,169 | -€6,204 | -74.1% |
| Suppliers | 440/4 | €8,372 | €2,169 | -€6,204 | -74.1% |
| Taxes, remuneration and social security | 45 | €18,069 | €13,652 | -€4,417 | -24.4% |
| Taxes | 450/3 | €12,988 | €9,284 | -€3,704 | -28.5% |
| Remuneration and social security | 454/9 | €5,081 | €4,367 | -€714 | -14.0% |
| Other amounts payable | 47/48 | €96 | €7,651 | +€7,555 | +7,869% |
| Remuneration, social security and pensions | 62 | €38,868 | €30,980 | -€7,888 | -20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,394 | €16,356 | +€6,962 | +74.1% |
| Other operating charges | 640/8 | €1,946 | €3,398 | +€1,452 | +74.6% |
| Non-recurring operating charges | 66A | - | €13,403 | +€13,403 | |
| Gross operating margin | 9900 | €92,575 | €83,708 | -€8,867 | -9.6% |
| Operating profit (loss) | 9901 | €42,367 | €19,570 | -€22,797 | -53.8% |
| Financial income | 75/76B | €26 | €26 | -€0 | -0.2% |
| Recurring financial income | 75 | €26 | €26 | -€0 | -0.2% |
| Financial charges | 65/66B | €136 | €143 | +€7 | +4.8% |
| Recurring financial charges | 65 | €136 | €143 | +€7 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €42,257 | €19,454 | -€22,803 | -54.0% |
| Income taxes | 67/77 | €8,072 | €4,370 | -€3,702 | -45.9% |
| Profit (loss) for the period | 9904 | €34,185 | €15,083 | -€19,102 | -55.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,185 | €15,083 | -€19,102 | -55.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.