Thomas Maes: what changed
What changed
Thomas Maes
NACE 66.191, Agents and brokers in banking services
filed annual accounts (NBB)
Net result for the year
€95,734
2024 · €112,019-€16,286
Equity
€387,682
2024 · €324,034+€63,648
Cash
€265,453
2024 · €208,332+€57,121
Balance sheet total
€594,151
2024 · €593,120+€1,031
Largest movements
Assets
- Cash +€57,121
up €57,121 (+27.4%), from €208,332 to €265,453
mainly Net result for the year (+€95,734) and Depreciation (+€68,859)
- Intangible fixed assets -€41,979
down €41,979 (-16.3%), from €257,187 to €215,208
- Tangible fixed assets -€25,725
down €25,725 (-27.9%), from €92,095 to €66,370
of which Furniture and vehicles: -€24,322
- Receivables within one year +€10,528
up €10,528 (+33.9%), from €31,057 to €41,584
of which Other amounts receivable: +€7,308
Equity and liabilities
- Reserves +€63,648
up €63,648 (+20.4%), from €311,534 to €375,182
- Debts after one year -€58,778
down €58,778 (-48.6%), from €120,929 to €62,151
- Tax, wage and social debts -€12,865
down €12,865 (-24.4%), from €52,657 to €39,792
of which Taxes: -€24,378
Income statement
- Staff costs +€35,064
up €35,064 (+59.4%), from €59,061 to €94,124
- Gross operating margin +€33,278
up €33,278 (+12.2%), from €273,686 to €306,964
- Taxes +€7,696
up €7,696 (+22.0%), from €35,012 to €42,707
- Depreciation +€5,906
up €5,906 (+9.4%), from €62,953 to €68,859
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€112,019
Gross operating margin
+€33,278
Staff costs
-€35,064
Depreciation
-€5,906
Other operating charges
-€341
Other operating items
+€554
Financial income
-€1,255
Financial charges
+€144
Taxes
-€7,696
Result 2025
€95,734
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€148,493
Investment
-€1,156
Financing
-€90,216
Cash 2024
€208,332
From operations (derived)
+€148,493
Net result for the year
+€95,734
Depreciation
+€68,859
Receivables within one year
-€10,528
Deferred charges and accrued income
-€1,086
Trade debts
+€1,958
Tax, wage and social debts
-€12,865
Other debts
+€5,745
Accrued charges and deferred income
+€676
Investment (derived)
-€1,156
Investment in fixed assets (net)
-€1,156
Financing
-€90,216
Debts after one year
-€58,778
Current portion of long-term debt
+€647
Contributions, distributions and other
-€32,086
Cash 2025
€265,453
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €593,120 | €594,151 | +€1,031 | +0.2% |
| Fixed assets | 21/28 | €349,282 | €281,578 | -€67,703 | -19.4% |
| Intangible fixed assets | 21 | €257,187 | €215,208 | -€41,979 | -16.3% |
| Tangible fixed assets | 22/27 | €92,095 | €66,370 | -€25,725 | -27.9% |
| Plant, machinery and equipment | 23 | €5,128 | €3,962 | -€1,166 | -22.7% |
| Furniture and vehicles | 24 | €85,970 | €61,648 | -€24,322 | -28.3% |
| Other tangible fixed assets | 26 | €996 | €760 | -€236 | -23.7% |
| Current assets | 29/58 | €243,838 | €312,573 | +€68,735 | +28.2% |
| Amounts receivable within one year | 40/41 | €31,057 | €41,584 | +€10,528 | +33.9% |
| Trade receivables | 40 | €30,250 | €33,469 | +€3,219 | +10.6% |
| Other amounts receivable | 41 | €807 | €8,115 | +€7,308 | +906% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €208,332 | €265,453 | +€57,121 | +27.4% |
| Deferred charges and accrued income | 490/1 | €4,450 | €5,536 | +€1,086 | +24.4% |
| Total equity and liabilities | 10/49 | €593,120 | €594,151 | +€1,031 | +0.2% |
| Equity | 10/15 | €324,034 | €387,682 | +€63,648 | +19.6% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €311,534 | €375,182 | +€63,648 | +20.4% |
| Distributable reserves | 133 | €311,534 | €375,182 | +€63,648 | +20.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €269,086 | €206,469 | -€62,617 | -23.3% |
| Amounts payable after more than one year | 17 | €120,929 | €62,151 | -€58,778 | -48.6% |
| Financial debts | 170/4 | €120,929 | €62,151 | -€58,778 | -48.6% |
| Amounts payable within one year | 42/48 | €146,539 | €142,024 | -€4,515 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €58,131 | €58,778 | +€647 | +1.1% |
| Trade debts | 44 | €6,026 | €7,984 | +€1,958 | +32.5% |
| Suppliers | 440/4 | €6,026 | €7,984 | +€1,958 | +32.5% |
| Taxes, remuneration and social security | 45 | €52,657 | €39,792 | -€12,865 | -24.4% |
| Taxes | 450/3 | €43,060 | €18,682 | -€24,378 | -56.6% |
| Remuneration and social security | 454/9 | €9,597 | €21,111 | +€11,513 | +120% |
| Other amounts payable | 47/48 | €29,726 | €35,471 | +€5,745 | +19.3% |
| Accrued charges and deferred income | 492/3 | €1,618 | €2,294 | +€676 | +41.8% |
| Remuneration, social security and pensions | 62 | €59,061 | €94,124 | +€35,064 | +59.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,953 | €68,859 | +€5,906 | +9.4% |
| Other operating charges | 640/8 | €1,910 | €2,251 | +€341 | +17.9% |
| Non-recurring operating charges | 66A | €1,254 | €700 | -€554 | -44.2% |
| Gross operating margin | 9900 | €273,686 | €306,964 | +€33,278 | +12.2% |
| Operating profit (loss) | 9901 | €148,509 | €141,030 | -€7,479 | -5.0% |
| Financial income | 75/76B | €2,729 | €1,474 | -€1,255 | -46.0% |
| Recurring financial income | 75 | €2,729 | €1,474 | -€1,255 | -46.0% |
| Financial charges | 65/66B | €4,207 | €4,063 | -€144 | -3.4% |
| Recurring financial charges | 65 | €4,207 | €4,063 | -€144 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €147,031 | €138,441 | -€8,590 | -5.8% |
| Income taxes | 67/77 | €35,012 | €42,707 | +€7,696 | +22.0% |
| Profit (loss) for the period | 9904 | €112,019 | €95,734 | -€16,286 | -14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €112,019 | €95,734 | -€16,286 | -14.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.