Dr. A. Maximus: 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.
Dr. A. Maximus
Largest movements
- Current investments +€92,201
new in 2025: €92,201
- Cash -€69,869
down €69,869 (-29.7%), from €235,127 to €165,258
mainly Current investments (-€92,201) and Contributions, distributions and other (-€32,037)
- Receivables within one year -€13,423
down €13,423 (-23.1%), from €58,091 to €44,668
of which Other amounts receivable: -€13,287
- Tangible fixed assets -€10,790
down €10,790 (-28.2%), from €38,223 to €27,433
No liability line moved by more than 1% of the balance sheet total.
- Financial charges +€10,552
up €10,552 (+5,803%), from €182 to €10,734
- Financial income +€6,540
up €6,540 (+483%), from €1,354 to €7,894
- Gross operating margin +€3,086
up €3,086 (+5.4%), from €56,759 to €59,846
- Taxes +€2,322
up €2,322 (+17.4%), from €13,375 to €15,696
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 | €334,199 | €333,289 | -€910 | -0.3% |
| Fixed assets | 21/28 | €38,223 | €27,433 | -€10,790 | -28.2% |
| Tangible fixed assets | 22/27 | €38,223 | €27,433 | -€10,790 | -28.2% |
| Furniture and vehicles | 24 | €38,223 | €27,433 | -€10,790 | -28.2% |
| Current assets | 29/58 | €295,976 | €305,855 | +€9,880 | +3.3% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €58,091 | €44,668 | -€13,423 | -23.1% |
| Trade receivables | 40 | €173 | €37 | -€136 | -78.6% |
| Other amounts receivable | 41 | €57,918 | €44,631 | -€13,287 | -22.9% |
| Current investments | 50/53 | - | €92,201 | +€92,201 | |
| Cash at bank and in hand | 54/58 | €235,127 | €165,258 | -€69,869 | -29.7% |
| Deferred charges and accrued income | 490/1 | €2,757 | €3,728 | +€971 | +35.2% |
| Total equity and liabilities | 10/49 | €334,199 | €333,289 | -€910 | -0.3% |
| Equity | 10/15 | €289,818 | €287,687 | -€2,130 | -0.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €277,418 | €275,287 | -€2,130 | -0.8% |
| Distributable reserves | 133 | €277,418 | €275,287 | -€2,130 | -0.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €37,663 | €37,663 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €37,663 | €37,663 | = | 0.0% |
| Pensions and similar obligations | 160 | €37,663 | €37,663 | = | 0.0% |
| Amounts payable | 17/49 | €6,718 | €7,939 | +€1,220 | +18.2% |
| Amounts payable within one year | 42/48 | €6,718 | €7,939 | +€1,220 | +18.2% |
| Trade debts | 44 | €2,008 | €2,630 | +€622 | +31.0% |
| Suppliers | 440/4 | €2,008 | €2,630 | +€622 | +31.0% |
| Taxes, remuneration and social security | 45 | €3,318 | €3,822 | +€504 | +15.2% |
| Taxes | 450/3 | €3,318 | €3,822 | +€504 | +15.2% |
| Other amounts payable | 47/48 | €1,393 | €1,487 | +€94 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,790 | €10,790 | +€0 | 0.0% |
| Other operating charges | 640/8 | €587 | €613 | +€26 | +4.4% |
| Gross operating margin | 9900 | €56,759 | €59,846 | +€3,086 | +5.4% |
| Operating profit (loss) | 9901 | €45,383 | €48,443 | +€3,060 | +6.7% |
| Financial income | 75/76B | €1,354 | €7,894 | +€6,540 | +483% |
| Recurring financial income | 75 | €1,354 | €7,894 | +€6,540 | +483% |
| Financial charges | 65/66B | €182 | €10,734 | +€10,552 | +5,803% |
| Recurring financial charges | 65 | €182 | €10,734 | +€10,552 | +5,803% |
| Profit (loss) for the period before taxes | 9903 | €46,555 | €45,603 | -€951 | -2.0% |
| Income taxes | 67/77 | €13,375 | €15,696 | +€2,322 | +17.4% |
| Profit (loss) for the period | 9904 | €33,180 | €29,907 | -€3,273 | -9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €33,180 | €29,907 | -€3,273 | -9.9% |
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 20 October 2026 via checked.be.