LAURE MAINDIAUX: 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.
LAURE MAINDIAUX
Largest movements
- Receivables within one year +€65,876
new in 2025: €65,876
- Cash +€11,049
up €11,049 (+17.8%), from €62,165 to €73,214
mainly Net result for the year (+€74,177) and Depreciation (+€11,311)
- Tangible fixed assets -€7,262
down €7,262 (-16.0%), from €45,411 to €38,149
- Profit (loss) carried forward +€74,177
up €74,177 (+178%), from €41,582 to €115,759
- Debts after one year -€10,200
down €10,200 (-28.8%), from €35,390 to €25,190
- Tax, wage and social debts +€6,181
up €6,181 (+41.5%), from €14,909 to €21,090
- Gross operating margin +€45,677
up €45,677 (+74.3%), from €61,467 to €107,144
- Taxes +€9,181
up €9,181 (+84.2%), from €10,909 to €20,090
- Depreciation +€3,833
up €3,833 (+51.3%), from €7,478 to €11,311
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 | €107,576 | €177,239 | +€69,663 | +64.8% |
| Fixed assets | 21/28 | €45,411 | €38,149 | -€7,262 | -16.0% |
| Tangible fixed assets | 22/27 | €45,411 | €38,149 | -€7,262 | -16.0% |
| Furniture and vehicles | 24 | €45,411 | €38,149 | -€7,262 | -16.0% |
| Current assets | 29/58 | €62,165 | €139,090 | +€76,925 | +124% |
| Amounts receivable within one year | 40/41 | - | €65,876 | +€65,876 | |
| Other amounts receivable | 41 | - | €65,876 | +€65,876 | |
| Cash at bank and in hand | 54/58 | €62,165 | €73,214 | +€11,049 | +17.8% |
| Total equity and liabilities | 10/49 | €107,576 | €177,239 | +€69,663 | +64.8% |
| Equity | 10/15 | €46,582 | €120,759 | +€74,177 | +159% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,582 | €115,759 | +€74,177 | +178% |
| Amounts payable | 17/49 | €60,994 | €56,480 | -€4,514 | -7.4% |
| Amounts payable after more than one year | 17 | €35,390 | €25,190 | -€10,200 | -28.8% |
| Financial debts | 170/4 | €35,390 | €25,190 | -€10,200 | -28.8% |
| Amounts payable within one year | 42/48 | €25,604 | €31,290 | +€5,685 | +22.2% |
| Current portion of amounts payable after more than one year | 42 | €9,859 | €10,200 | +€341 | +3.5% |
| Taxes, remuneration and social security | 45 | €14,909 | €21,090 | +€6,181 | +41.5% |
| Taxes | 450/3 | €14,909 | €21,090 | +€6,181 | +41.5% |
| Other amounts payable | 47/48 | €836 | - | -€836 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,478 | €11,311 | +€3,833 | +51.3% |
| Other operating charges | 640/8 | €159 | €101 | -€58 | -36.6% |
| Gross operating margin | 9900 | €61,467 | €107,144 | +€45,677 | +74.3% |
| Operating profit (loss) | 9901 | €53,830 | €95,732 | +€41,902 | +77.8% |
| Financial income | 75/76B | €47 | €248 | +€201 | +432% |
| Recurring financial income | 75 | €47 | €248 | +€201 | +432% |
| Financial charges | 65/66B | €1,385 | €1,713 | +€328 | +23.7% |
| Recurring financial charges | 65 | €1,385 | €1,713 | +€328 | +23.7% |
| Profit (loss) for the period before taxes | 9903 | €52,491 | €94,267 | +€41,776 | +79.6% |
| Income taxes | 67/77 | €10,909 | €20,090 | +€9,181 | +84.2% |
| Profit (loss) for the period | 9904 | €41,582 | €74,177 | +€32,595 | +78.4% |
| Profit (loss) for the period to be appropriated | 9905 | €41,582 | €74,177 | +€32,595 | +78.4% |
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 31 October 2026 via checked.be.