Werken Maes: 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.
Werken Maes
Largest movements
- Tangible fixed assets +€16,601
up €16,601 (+65.5%), from €25,364 to €41,965
of which Furniture and vehicles: +€22,488
- Receivables within one year -€1,439
down €1,439 (-10.2%), from €14,124 to €12,685
of which Trade receivables: -€1,619
- Cash +€680
new in 2025: €680
mainly Depreciation (+€19,564) and Other debts (+€18,392)
- Other debts +€18,392
up €18,392 (+125%), from €14,677 to €33,069
- Debts after one year -€11,011
no longer reported in 2025 (was €11,011)
- Trade debts +€4,703
up €4,703 (+207%), from €2,275 to €6,978
- Reserves +€3,384
up €3,384 (+165%), from €2,052 to €5,436
- Tax, wage and social debts +€1,480
up €1,480 (+111%), from €1,335 to €2,815
- Gross operating margin +€9,738
up €9,738 (+57.3%), from €16,991 to €26,729
- Depreciation +€5,116
up €5,116 (+35.4%), from €14,448 to €19,564
- Taxes +€1,343
up €1,343 (+2,249%), from €60 to €1,402
- Financial charges -€870
down €870 (-67.6%), from €1,286 to €416
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 | €44,539 | €61,309 | +€16,770 | +37.7% |
| Fixed assets | 21/28 | €25,364 | €41,965 | +€16,601 | +65.5% |
| Tangible fixed assets | 22/27 | €25,364 | €41,965 | +€16,601 | +65.5% |
| Plant, machinery and equipment | 23 | €14,554 | €8,668 | -€5,886 | -40.4% |
| Furniture and vehicles | 24 | €10,810 | €33,298 | +€22,488 | +208% |
| Current assets | 29/58 | €19,175 | €19,344 | +€169 | +0.9% |
| Stocks and contracts in progress | 3 | €4,877 | €5,221 | +€345 | +7.1% |
| Stocks | 30/36 | €4,877 | €5,221 | +€345 | +7.1% |
| Amounts receivable within one year | 40/41 | €14,124 | €12,685 | -€1,439 | -10.2% |
| Trade receivables | 40 | €13,970 | €12,351 | -€1,619 | -11.6% |
| Other amounts receivable | 41 | €154 | €334 | +€180 | +117% |
| Cash at bank and in hand | 54/58 | - | €680 | +€680 | |
| Deferred charges and accrued income | 490/1 | €174 | €757 | +€583 | +335% |
| Total equity and liabilities | 10/49 | €44,539 | €61,309 | +€16,770 | +37.7% |
| Equity | 10/15 | €3,176 | €7,436 | +€4,260 | +134% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €2,052 | €5,436 | +€3,384 | +165% |
| Distributable reserves | 133 | €2,052 | €5,436 | +€3,384 | +165% |
| Profit (loss) carried forward | 14 | -€876 | - | +€876 | |
| Amounts payable | 17/49 | €41,363 | €53,873 | +€12,510 | +30.2% |
| Amounts payable after more than one year | 17 | €11,011 | - | -€11,011 | |
| Financial debts | 170/4 | €11,011 | - | -€11,011 | |
| Amounts payable within one year | 42/48 | €30,352 | €53,873 | +€23,521 | +77.5% |
| Current portion of amounts payable after more than one year | 42 | €11,856 | €11,011 | -€845 | -7.1% |
| Financial debts | 43 | €209 | - | -€209 | |
| Credit institutions | 430/8 | €209 | - | -€209 | |
| Trade debts | 44 | €2,275 | €6,978 | +€4,703 | +207% |
| Suppliers | 440/4 | €2,275 | €6,978 | +€4,703 | +207% |
| Taxes, remuneration and social security | 45 | €1,335 | €2,815 | +€1,480 | +111% |
| Taxes | 450/3 | €1,335 | €2,815 | +€1,480 | +111% |
| Other amounts payable | 47/48 | €14,677 | €33,069 | +€18,392 | +125% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,448 | €19,564 | +€5,116 | +35.4% |
| Other operating charges | 640/8 | €1,256 | €1,087 | -€169 | -13.4% |
| Gross operating margin | 9900 | €16,991 | €26,729 | +€9,738 | +57.3% |
| Operating profit (loss) | 9901 | €1,287 | €6,078 | +€4,791 | +372% |
| Financial income | 75/76B | €1 | €1 | +€0 | +59.7% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +59.7% |
| Financial charges | 65/66B | €1,286 | €416 | -€870 | -67.6% |
| Recurring financial charges | 65 | €1,286 | €416 | -€870 | -67.6% |
| Profit (loss) for the period before taxes | 9903 | €1 | €5,662 | +€5,661 | +445,751% |
| Income taxes | 67/77 | €60 | €1,402 | +€1,343 | +2,249% |
| Profit (loss) for the period | 9904 | -€58 | €4,260 | +€4,319 | |
| Profit (loss) for the period to be appropriated | 9905 | -€58 | €4,260 | +€4,319 |
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 18 October 2026 via checked.be.