De Troch Maxime: 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.
De Troch Maxime
Largest movements
- Tangible fixed assets +€274,475
up €274,475 (+887%), from €30,949 to €305,424
of which Land and buildings: +€277,147
- Cash +€55,830
up €55,830 (+107%), from €52,360 to €108,190
mainly Debts after one year (+€381,734) and Depreciation (+€54,900)
- Receivables within one year +€17,002
new in 2025: €17,002
- Debts after one year +€381,734
new in 2025: €381,734
- Other debts -€29,042
down €29,042 (-100%), from €29,042 to €0
- Current portion of long-term debt +€15,406
new in 2025: €15,406
- Tax, wage and social debts -€10,488
down €10,488 (-78.3%), from €13,398 to €2,910
- Accrued charges and deferred income -€7,597
down €7,597 (-100%), from €7,597 to €0
- Depreciation +€46,694
up €46,694 (+569%), from €8,206 to €54,900
- Taxes -€10,398
down €10,398 (-98.6%), from €10,548 to €150
- Gross operating margin -€6,573
down €6,573 (-10.9%), from €60,191 to €53,618
- Financial charges +€1,909
up €1,909 (+1,832%), from €104 to €2,013
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 | €92,781 | €438,893 | +€346,112 | +373% |
| Fixed assets | 21/28 | €36,664 | €309,395 | +€272,730 | +744% |
| Intangible fixed assets | 21 | €5,715 | €3,970 | -€1,745 | -30.5% |
| Tangible fixed assets | 22/27 | €30,949 | €305,424 | +€274,475 | +887% |
| Land and buildings | 22 | - | €277,147 | +€277,147 | |
| Plant, machinery and equipment | 23 | €20,241 | €20,463 | +€222 | +1.1% |
| Furniture and vehicles | 24 | €9,760 | €7,313 | -€2,447 | -25.1% |
| Other tangible fixed assets | 26 | €948 | €502 | -€447 | -47.1% |
| Current assets | 29/58 | €56,116 | €129,498 | +€73,382 | +131% |
| Amounts receivable within one year | 40/41 | - | €17,002 | +€17,002 | |
| Other amounts receivable | 41 | - | €17,002 | +€17,002 | |
| Cash at bank and in hand | 54/58 | €52,360 | €108,190 | +€55,830 | +107% |
| Deferred charges and accrued income | 490/1 | €3,756 | €4,306 | +€550 | +14.6% |
| Total equity and liabilities | 10/49 | €92,781 | €438,893 | +€346,112 | +373% |
| Equity | 10/15 | €40,705 | €35,438 | -€5,267 | -12.9% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Reserves | 13 | €39,505 | €34,238 | -€5,267 | -13.3% |
| Distributable reserves | 133 | €39,505 | €34,238 | -€5,267 | -13.3% |
| Amounts payable | 17/49 | €52,075 | €403,455 | +€351,380 | +675% |
| Amounts payable after more than one year | 17 | - | €381,734 | +€381,734 | |
| Financial debts | 170/4 | - | €381,734 | +€381,734 | |
| Amounts payable within one year | 42/48 | €44,478 | €21,721 | -€22,757 | -51.2% |
| Current portion of amounts payable after more than one year | 42 | - | €15,406 | +€15,406 | |
| Financial debts | 43 | - | €222 | +€222 | |
| Credit institutions | 430/8 | - | €222 | +€222 | |
| Trade debts | 44 | €2,038 | €3,183 | +€1,145 | +56.2% |
| Suppliers | 440/4 | €2,038 | €3,183 | +€1,145 | +56.2% |
| Taxes, remuneration and social security | 45 | €13,398 | €2,910 | -€10,488 | -78.3% |
| Taxes | 450/3 | €13,398 | €2,910 | -€10,488 | -78.3% |
| Other amounts payable | 47/48 | €29,042 | €0 | -€29,042 | -100% |
| Accrued charges and deferred income | 492/3 | €7,597 | €0 | -€7,597 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,206 | €54,900 | +€46,694 | +569% |
| Other operating charges | 640/8 | €1,832 | €2,078 | +€246 | +13.4% |
| Gross operating margin | 9900 | €60,191 | €53,618 | -€6,573 | -10.9% |
| Operating profit (loss) | 9901 | €50,153 | -€3,360 | -€53,513 | |
| Financial income | 75/76B | €4 | €255 | +€251 | +6,100% |
| Recurring financial income | 75 | €4 | €255 | +€251 | +6,100% |
| Financial charges | 65/66B | €104 | €2,013 | +€1,909 | +1,832% |
| Recurring financial charges | 65 | €104 | €2,013 | +€1,909 | +1,832% |
| Profit (loss) for the period before taxes | 9903 | €50,053 | -€5,118 | -€55,171 | |
| Income taxes | 67/77 | €10,548 | €150 | -€10,398 | -98.6% |
| Profit (loss) for the period | 9904 | €39,505 | -€5,267 | -€44,773 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,505 | -€5,267 | -€44,773 |
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 19 October 2026 via checked.be.