Arch. Maxim Rotsaert: 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.
Arch. Maxim Rotsaert
Largest movements
- Tangible fixed assets +€55,890
up €55,890 (+123%), from €45,580 to €101,469
of which Other tangible fixed assets: +€67,246
- Receivables within one year -€8,045
down €8,045 (-13.9%), from €57,709 to €49,664
of which Other amounts receivable: -€20,024
- Debts after one year +€47,525
up €47,525 (+146%), from €32,505 to €80,030
- Trade debts +€8,677
up €8,677 (+289%), from €2,999 to €11,676
- Other debts -€7,413
down €7,413 (-30.9%), from €24,020 to €16,607
- Tax, wage and social debts -€1,937
down €1,937 (-9.5%), from €20,374 to €18,437
of which Remuneration and social security: -€1,650
- Gross operating margin -€3,469
down €3,469 (-7.2%), from €47,959 to €44,490
- Financial charges +€1,960
up €1,960 (+108%), from €1,813 to €3,773
- Taxes -€1,271
down €1,271 (-17.6%), from €7,238 to €5,967
- Depreciation +€1,157
up €1,157 (+9.6%), from €11,996 to €13,153
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 | €131,299 | €178,496 | +€47,197 | +35.9% |
| Fixed assets | 21/28 | €45,580 | €101,469 | +€55,890 | +123% |
| Tangible fixed assets | 22/27 | €45,580 | €101,469 | +€55,890 | +123% |
| Plant, machinery and equipment | 23 | €2,639 | €2,017 | -€621 | -23.6% |
| Furniture and vehicles | 24 | €42,941 | €32,206 | -€10,734 | -25.0% |
| Other tangible fixed assets | 26 | - | €67,246 | +€67,246 | |
| Current assets | 29/58 | €85,720 | €77,027 | -€8,693 | -10.1% |
| Amounts receivable within one year | 40/41 | €57,709 | €49,664 | -€8,045 | -13.9% |
| Trade receivables | 40 | €37,652 | €49,631 | +€11,979 | +31.8% |
| Other amounts receivable | 41 | €20,057 | €33 | -€20,024 | -99.8% |
| Cash at bank and in hand | 54/58 | €28,011 | €27,363 | -€648 | -2.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €131,299 | €178,496 | +€47,197 | +35.9% |
| Equity | 10/15 | €41,871 | €41,871 | = | 0.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €37,871 | €37,871 | = | 0.0% |
| Distributable reserves | 133 | €37,871 | €37,871 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €89,429 | €136,625 | +€47,197 | +52.8% |
| Amounts payable after more than one year | 17 | €32,505 | €80,030 | +€47,525 | +146% |
| Financial debts | 170/4 | €32,505 | €80,030 | +€47,525 | +146% |
| Amounts payable within one year | 42/48 | €56,924 | €56,595 | -€329 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €9,531 | €9,875 | +€344 | +3.6% |
| Trade debts | 44 | €2,999 | €11,676 | +€8,677 | +289% |
| Suppliers | 440/4 | €2,999 | €11,676 | +€8,677 | +289% |
| Taxes, remuneration and social security | 45 | €20,374 | €18,437 | -€1,937 | -9.5% |
| Taxes | 450/3 | €18,724 | €18,437 | -€287 | -1.5% |
| Remuneration and social security | 454/9 | €1,650 | €0 | -€1,650 | -100% |
| Other amounts payable | 47/48 | €24,020 | €16,607 | -€7,413 | -30.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,996 | €13,153 | +€1,157 | +9.6% |
| Other operating charges | 640/8 | €899 | €1,234 | +€335 | +37.3% |
| Gross operating margin | 9900 | €47,959 | €44,490 | -€3,469 | -7.2% |
| Operating profit (loss) | 9901 | €35,064 | €30,103 | -€4,962 | -14.2% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1,813 | €3,773 | +€1,960 | +108% |
| Recurring financial charges | 65 | €1,813 | €3,773 | +€1,960 | +108% |
| Profit (loss) for the period before taxes | 9903 | €33,251 | €26,329 | -€6,922 | -20.8% |
| Income taxes | 67/77 | €7,238 | €5,967 | -€1,271 | -17.6% |
| Profit (loss) for the period | 9904 | €26,013 | €20,362 | -€5,651 | -21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,013 | €20,362 | -€5,651 | -21.7% |
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 25 October 2026 via checked.be.