Wheel Service Maertens: 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.
What changed
Wheel Service Maertens
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€68,655
2024 · €59,751+€8,905
Equity
€701,681
2024 · €633,025+€68,655
Cash
€237,261
2024 · €117,833+€119,428
Balance sheet total
€1.9m
2024 · €1.8m+€69,731
Largest movements
Assets
- Cash +€119,428
up €119,428 (+101%), from €117,833 to €237,261
mainly Depreciation (+€81,928) and Net result for the year (+€68,655)
- Tangible fixed assets -€59,060
down €59,060 (-4.2%), from €1.4m to €1.4m
of which Land and buildings: -€49,712
Equity and liabilities
- Reserves +€68,655
up €68,655 (+23.1%), from €297,425 to €366,081
- Debts after one year -€57,211
down €57,211 (-8.5%), from €671,988 to €614,776
- Trade debts +€44,206
up €44,206 (+27.0%), from €164,014 to €208,219
Income statement
- Gross operating margin +€27,783
up €27,783 (+6.6%), from €419,811 to €447,594
- Staff costs +€25,473
up €25,473 (+13.9%), from €182,659 to €208,133
- Depreciation -€5,597
down €5,597 (-6.4%), from €87,525 to €81,928
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.
Result 2024
€59,751
Gross operating margin
+€27,783
Staff costs
-€25,473
Depreciation
+€5,597
Other operating charges
-€336
Financial income
+€774
Financial charges
+€3,616
Taxes
-€3,056
Result 2025
€68,655
raises the resultlowers the result
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.
From operations
+€197,469
Investment
-€22,478
Financing
-€55,563
Cash 2024
€117,833
From operations (derived)
+€197,469
Net result for the year
+€68,655
Depreciation
+€81,928
Stocks and contracts
-€3,715
Receivables within one year
-€16,668
Deferred charges and accrued income
+€10,631
Trade debts
+€44,206
Tax, wage and social debts
+€15,776
Advances received
-€460
Other debts
-€2,075
Accrued charges and deferred income
-€809
Investment (derived)
-€22,478
Investment in fixed assets (net)
-€22,478
Financing
-€55,563
Debts after one year
-€57,211
Current portion of long-term debt
+€1,649
Cash 2025
€237,261
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,805,629 | €1,875,359 | +€69,731 | +3.9% |
| Fixed assets | 21/28 | €1,413,428 | €1,353,979 | -€59,450 | -4.2% |
| Tangible fixed assets | 22/27 | €1,413,038 | €1,353,979 | -€59,060 | -4.2% |
| Land and buildings | 22 | €1,359,883 | €1,310,171 | -€49,712 | -3.7% |
| Plant, machinery and equipment | 23 | €46,513 | €36,651 | -€9,863 | -21.2% |
| Furniture and vehicles | 24 | €6,643 | €7,158 | +€515 | +7.8% |
| Financial fixed assets | 28 | €390 | €0 | -€390 | -100% |
| Current assets | 29/58 | €392,200 | €521,381 | +€129,180 | +32.9% |
| Stocks and contracts in progress | 3 | €182,618 | €186,334 | +€3,715 | +2.0% |
| Stocks | 30/36 | €182,618 | €186,334 | +€3,715 | +2.0% |
| Amounts receivable within one year | 40/41 | €59,183 | €75,852 | +€16,668 | +28.2% |
| Trade receivables | 40 | €59,135 | €75,804 | +€16,668 | +28.2% |
| Other amounts receivable | 41 | €48 | €48 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €117,833 | €237,261 | +€119,428 | +101% |
| Deferred charges and accrued income | 490/1 | €32,565 | €21,934 | -€10,631 | -32.6% |
| Total equity and liabilities | 10/49 | €1,805,629 | €1,875,359 | +€69,731 | +3.9% |
| Equity | 10/15 | €633,025 | €701,681 | +€68,655 | +10.8% |
| Contributions | 10/11 | €335,600 | €335,600 | = | 0.0% |
| Reserves | 13 | €297,425 | €366,081 | +€68,655 | +23.1% |
| Distributable reserves | 133 | €297,425 | €366,081 | +€68,655 | +23.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,172,603 | €1,173,679 | +€1,075 | +0.1% |
| Amounts payable after more than one year | 17 | €671,988 | €614,776 | -€57,211 | -8.5% |
| Financial debts | 170/4 | €671,988 | €614,776 | -€57,211 | -8.5% |
| Amounts payable within one year | 42/48 | €481,874 | €540,969 | +€59,095 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €55,563 | €57,211 | +€1,649 | +3.0% |
| Trade debts | 44 | €164,014 | €208,219 | +€44,206 | +27.0% |
| Suppliers | 440/4 | €164,014 | €208,219 | +€44,206 | +27.0% |
| Advances received on contracts in progress | 46 | €460 | €0 | -€460 | -100% |
| Taxes, remuneration and social security | 45 | €9,793 | €25,568 | +€15,776 | +161% |
| Taxes | 450/3 | €9,220 | €8,055 | -€1,166 | -12.6% |
| Remuneration and social security | 454/9 | €572 | €17,514 | +€16,941 | +2,959% |
| Other amounts payable | 47/48 | €252,045 | €249,970 | -€2,075 | -0.8% |
| Accrued charges and deferred income | 492/3 | €18,741 | €17,933 | -€809 | -4.3% |
| Remuneration, social security and pensions | 62 | €182,659 | €208,133 | +€25,473 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,525 | €81,928 | -€5,597 | -6.4% |
| Other operating charges | 640/8 | €13,739 | €14,075 | +€336 | +2.4% |
| Gross operating margin | 9900 | €419,811 | €447,594 | +€27,783 | +6.6% |
| Operating profit (loss) | 9901 | €135,887 | €143,458 | +€7,571 | +5.6% |
| Financial income | 75/76B | €6,188 | €6,963 | +€774 | +12.5% |
| Recurring financial income | 75 | €6,188 | €6,963 | +€774 | +12.5% |
| Financial charges | 65/66B | €57,717 | €54,101 | -€3,616 | -6.3% |
| Recurring financial charges | 65 | €57,717 | €54,101 | -€3,616 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €84,359 | €96,320 | +€11,961 | +14.2% |
| Income taxes | 67/77 | €24,608 | €27,665 | +€3,056 | +12.4% |
| Profit (loss) for the period | 9904 | €59,751 | €68,655 | +€8,905 | +14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €59,751 | €68,655 | +€8,905 | +14.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.