R. MAES CONSULTING: 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.
R. MAES CONSULTING
Largest movements
- Cash -€25,868
down €25,868 (-34.6%), from €74,677 to €48,809
mainly Contributions, distributions and other (-€80,000) and Debts after one year (-€10,875)
- Receivables after one year -€23,000
no longer reported in 2025 (was €23,000)
- Tangible fixed assets -€3,715
down €3,715 (-8.9%), from €41,696 to €37,982
of which Furniture and vehicles: -€12,251
- Receivables within one year +€2,090
up €2,090 (+11.0%), from €18,961 to €21,051
of which Other amounts receivable: +€6,878
- Reserves -€37,006
down €37,006 (-31.8%), from €116,413 to €79,407
- Debts after one year -€10,875
down €10,875 (-74.6%), from €14,578 to €3,704
- Tax, wage and social debts -€6,080
down €6,080 (-36.7%), from €16,561 to €10,481
- Trade debts +€1,931
up €1,931 (+30,312%), from €6 to €1,937
- Gross operating margin -€19,203
down €19,203 (-21.6%), from €88,714 to €69,511
- Taxes -€3,943
down €3,943 (-25.5%), from €15,466 to €11,523
- Depreciation +€1,514
up €1,514 (+11.8%), from €12,824 to €14,339
- Financial income +€1,091
up €1,091 (+39,547%), from €3 to €1,094
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 | €160,913 | €109,664 | -€51,248 | -31.8% |
| Fixed assets | 21/28 | €41,696 | €37,982 | -€3,715 | -8.9% |
| Tangible fixed assets | 22/27 | €41,696 | €37,982 | -€3,715 | -8.9% |
| Plant, machinery and equipment | 23 | €3,331 | €3,067 | -€264 | -7.9% |
| Furniture and vehicles | 24 | €36,909 | €24,657 | -€12,251 | -33.2% |
| Other tangible fixed assets | 26 | €1,457 | €10,257 | +€8,801 | +604% |
| Current assets | 29/58 | €119,216 | €71,683 | -€47,533 | -39.9% |
| Amounts receivable after more than one year | 29 | €23,000 | - | -€23,000 | |
| Other amounts receivable | 291 | €23,000 | - | -€23,000 | |
| Stocks and contracts in progress | 3 | €1,200 | €1,200 | = | 0.0% |
| Stocks | 30/36 | €1,200 | €1,200 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €18,961 | €21,051 | +€2,090 | +11.0% |
| Trade receivables | 40 | €18,862 | €14,074 | -€4,788 | -25.4% |
| Other amounts receivable | 41 | €99 | €6,977 | +€6,878 | +6,917% |
| Cash at bank and in hand | 54/58 | €74,677 | €48,809 | -€25,868 | -34.6% |
| Deferred charges and accrued income | 490/1 | €1,378 | €623 | -€755 | -54.8% |
| Total equity and liabilities | 10/49 | €160,913 | €109,664 | -€51,248 | -31.8% |
| Equity | 10/15 | €117,413 | €80,407 | -€37,006 | -31.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €116,413 | €79,407 | -€37,006 | -31.8% |
| Distributable reserves | 133 | €116,413 | €79,407 | -€37,006 | -31.8% |
| Amounts payable | 17/49 | €43,500 | €29,258 | -€14,242 | -32.7% |
| Amounts payable after more than one year | 17 | €14,578 | €3,704 | -€10,875 | -74.6% |
| Financial debts | 170/4 | €14,578 | €3,704 | -€10,875 | -74.6% |
| Amounts payable within one year | 42/48 | €28,921 | €25,554 | -€3,367 | -11.6% |
| Current portion of amounts payable after more than one year | 42 | €10,531 | €10,875 | +€344 | +3.3% |
| Trade debts | 44 | €6 | €1,937 | +€1,931 | +30,312% |
| Suppliers | 440/4 | €6 | €1,937 | +€1,931 | +30,312% |
| Taxes, remuneration and social security | 45 | €16,561 | €10,481 | -€6,080 | -36.7% |
| Taxes | 450/3 | €16,561 | €10,481 | -€6,080 | -36.7% |
| Other amounts payable | 47/48 | €1,823 | €2,261 | +€437 | +24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,824 | €14,339 | +€1,514 | +11.8% |
| Other operating charges | 640/8 | €393 | €850 | +€457 | +116% |
| Gross operating margin | 9900 | €88,714 | €69,511 | -€19,203 | -21.6% |
| Operating profit (loss) | 9901 | €75,497 | €54,322 | -€21,174 | -28.0% |
| Financial income | 75/76B | €3 | €1,094 | +€1,091 | +39,547% |
| Recurring financial income | 75 | €3 | €1,094 | +€1,091 | +39,547% |
| Financial charges | 65/66B | €1,197 | €900 | -€297 | -24.8% |
| Recurring financial charges | 65 | €1,197 | €900 | -€297 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €74,303 | €54,517 | -€19,786 | -26.6% |
| Income taxes | 67/77 | €15,466 | €11,523 | -€3,943 | -25.5% |
| Profit (loss) for the period | 9904 | €58,837 | €42,994 | -€15,843 | -26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,837 | €42,994 | -€15,843 | -26.9% |
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 23 October 2026 via checked.be.