VERVOERONDERNEMING MAECKELBERGH: 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.
VERVOERONDERNEMING MAECKELBERGH
Largest movements
- Receivables within one year +€43,032
up €43,032 (+60.8%), from €70,787 to €113,819
of which Trade receivables: +€40,233
- Cash -€8,879
down €8,879 (-7.0%), from €127,470 to €118,591
mainly Investment in fixed assets (net) (-€63,014) and Receivables within one year (-€43,032)
- Trade debts +€14,777
up €14,777 (+59.4%), from €24,866 to €39,643
- Other debts +€12,586
up €12,586 (+13.8%), from €91,454 to €104,041
- Current portion of long-term debt -€12,030
down €12,030 (-100%), from €12,030 to €0
- Accrued charges and deferred income +€6,889
new in 2025: €6,889
- Profit (loss) carried forward +€6,676
up €6,676, from -€6,676 to €0
- Gross operating margin +€34,166
up €34,166 (+52.7%), from €64,863 to €99,028
- Financial charges +€7,648
up €7,648 (+1,253%), from €610 to €8,258
- Write-downs +€6,242
new in 2025: €6,242
- Other operating charges +€3,525
up €3,525 (+54.7%), from €6,448 to €9,972
- Depreciation +€2,428
up €2,428 (+3.9%), from €62,456 to €64,883
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 | €322,794 | €354,338 | +€31,543 | +9.8% |
| Fixed assets | 21/28 | €110,773 | €108,903 | -€1,870 | -1.7% |
| Tangible fixed assets | 22/27 | €110,503 | €108,633 | -€1,870 | -1.7% |
| Plant, machinery and equipment | 23 | €2,624 | €60,001 | +€57,377 | +2,186% |
| Furniture and vehicles | 24 | €86,881 | €31,371 | -€55,510 | -63.9% |
| Other tangible fixed assets | 26 | €20,997 | €17,261 | -€3,736 | -17.8% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €212,021 | €245,434 | +€33,413 | +15.8% |
| Amounts receivable within one year | 40/41 | €70,787 | €113,819 | +€43,032 | +60.8% |
| Trade receivables | 40 | €67,387 | €107,620 | +€40,233 | +59.7% |
| Other amounts receivable | 41 | €3,400 | €6,199 | +€2,799 | +82.3% |
| Cash at bank and in hand | 54/58 | €127,470 | €118,591 | -€8,879 | -7.0% |
| Deferred charges and accrued income | 490/1 | €13,764 | €13,025 | -€740 | -5.4% |
| Total equity and liabilities | 10/49 | €322,794 | €354,338 | +€31,543 | +9.8% |
| Equity | 10/15 | €194,033 | €203,316 | +€9,283 | +4.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €182,117 | €184,724 | +€2,607 | +1.4% |
| Tax-exempt reserves | 132 | €89,048 | €89,048 | = | 0.0% |
| Distributable reserves | 133 | €93,069 | €95,676 | +€2,607 | +2.8% |
| Profit (loss) carried forward | 14 | -€6,676 | €0 | +€6,676 | |
| Amounts payable | 17/49 | €128,761 | €151,021 | +€22,260 | +17.3% |
| Amounts payable within one year | 42/48 | €128,761 | €144,132 | +€15,371 | +11.9% |
| Current portion of amounts payable after more than one year | 42 | €12,030 | €0 | -€12,030 | -100% |
| Trade debts | 44 | €24,866 | €39,643 | +€14,777 | +59.4% |
| Suppliers | 440/4 | €24,866 | €39,643 | +€14,777 | +59.4% |
| Taxes, remuneration and social security | 45 | €411 | €449 | +€38 | +9.2% |
| Taxes | 450/3 | €411 | €449 | +€38 | +9.2% |
| Other amounts payable | 47/48 | €91,454 | €104,041 | +€12,586 | +13.8% |
| Accrued charges and deferred income | 492/3 | - | €6,889 | +€6,889 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,456 | €64,883 | +€2,428 | +3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,242 | +€6,242 | |
| Other operating charges | 640/8 | €6,448 | €9,972 | +€3,525 | +54.7% |
| Gross operating margin | 9900 | €64,863 | €99,028 | +€34,166 | +52.7% |
| Operating profit (loss) | 9901 | -€4,041 | €17,931 | +€21,972 | |
| Financial income | 75/76B | - | €42 | +€42 | |
| Recurring financial income | 75 | - | €42 | +€42 | |
| Financial charges | 65/66B | €610 | €8,258 | +€7,648 | +1,253% |
| Recurring financial charges | 65 | €610 | €8,258 | +€7,648 | +1,253% |
| Profit (loss) for the period before taxes | 9903 | -€4,651 | €9,715 | +€14,366 | |
| Income taxes | 67/77 | €180 | €432 | +€253 | +141% |
| Profit (loss) for the period | 9904 | -€4,831 | €9,283 | +€14,114 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,831 | €9,283 | +€14,114 |
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.