Dr. Kevin Maas: what changed
Dr. Kevin Maas
Largest movements
- Current investments +€47,414
new in 2025: €47,414
- Cash +€22,115
up €22,115 (+20.3%), from €109,123 to €131,238
mainly Net result for the year (+€48,377) and Tax, wage and social debts (+€17,273)
- Receivables within one year -€5,920
down €5,920 (-89.4%), from €6,620 to €700
- Deferred charges and accrued income +€2,761
up €2,761 (+184%), from €1,501 to €4,262
- Tangible fixed assets -€1,929
down €1,929 (-27.0%), from €7,145 to €5,216
- Profit (loss) carried forward +€47,518
up €47,518 (+55.0%), from €86,365 to €133,883
- Tax, wage and social debts +€17,273
up €17,273 (+61.4%), from €28,120 to €45,393
of which Taxes: +€15,372
- Gross operating margin -€34,133
down €34,133 (-28.6%), from €119,266 to €85,133
- Staff costs +€14,276
up €14,276 (+5,710%), from €250 to €14,526
- Taxes -€11,579
down €11,579 (-43.0%), from €26,954 to €15,375
- Financial charges +€1,492
up €1,492 (+53.6%), from €2,782 to €4,274
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €124,388 | €188,829 | +€64,441 | +51.8% |
| Fixed assets | 21/28 | €7,145 | €5,216 | -€1,929 | -27.0% |
| Tangible fixed assets | 22/27 | €7,145 | €5,216 | -€1,929 | -27.0% |
| Furniture and vehicles | 24 | €7,145 | €5,216 | -€1,929 | -27.0% |
| Current assets | 29/58 | €117,243 | €183,614 | +€66,371 | +56.6% |
| Amounts receivable within one year | 40/41 | €6,620 | €700 | -€5,920 | -89.4% |
| Trade receivables | 40 | €6,620 | €700 | -€5,920 | -89.4% |
| Current investments | 50/53 | - | €47,414 | +€47,414 | |
| Cash at bank and in hand | 54/58 | €109,123 | €131,238 | +€22,115 | +20.3% |
| Deferred charges and accrued income | 490/1 | €1,501 | €4,262 | +€2,761 | +184% |
| Total equity and liabilities | 10/49 | €124,388 | €188,829 | +€64,441 | +51.8% |
| Equity | 10/15 | €89,365 | €136,883 | +€47,518 | +53.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,365 | €133,883 | +€47,518 | +55.0% |
| Amounts payable | 17/49 | €35,023 | €51,947 | +€16,923 | +48.3% |
| Amounts payable within one year | 42/48 | €35,023 | €51,710 | +€16,686 | +47.6% |
| Trade debts | 44 | €3,777 | €2,785 | -€992 | -26.3% |
| Suppliers | 440/4 | €3,777 | €2,785 | -€992 | -26.3% |
| Taxes, remuneration and social security | 45 | €28,120 | €45,393 | +€17,273 | +61.4% |
| Taxes | 450/3 | €28,120 | €43,492 | +€15,372 | +54.7% |
| Remuneration and social security | 454/9 | - | €1,901 | +€1,901 | |
| Other amounts payable | 47/48 | €3,127 | €3,531 | +€404 | +12.9% |
| Accrued charges and deferred income | 492/3 | - | €237 | +€237 | |
| Remuneration, social security and pensions | 62 | €250 | €14,526 | +€14,276 | +5,710% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,449 | €1,929 | +€480 | +33.1% |
| Other operating charges | 640/8 | €623 | €651 | +€28 | +4.5% |
| Gross operating margin | 9900 | €119,266 | €85,133 | -€34,133 | -28.6% |
| Operating profit (loss) | 9901 | €116,944 | €68,027 | -€48,917 | -41.8% |
| Financial income | 75/76B | €16 | €0 | -€16 | -100% |
| Recurring financial income | 75 | €16 | €0 | -€16 | -100% |
| Financial charges | 65/66B | €2,782 | €4,274 | +€1,492 | +53.6% |
| Recurring financial charges | 65 | €2,782 | €4,274 | +€1,492 | +53.6% |
| Profit (loss) for the period before taxes | 9903 | €114,178 | €63,753 | -€50,425 | -44.2% |
| Income taxes | 67/77 | €26,954 | €15,375 | -€11,579 | -43.0% |
| Profit (loss) for the period | 9904 | €87,224 | €48,377 | -€38,846 | -44.5% |
| Profit (loss) for the period to be appropriated | 9905 | €87,224 | €48,377 | -€38,846 | -44.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.