Maarten De Wilde: what changed
Maarten De Wilde
Largest movements
- Cash +€20,955
up €20,955 (+144%), from €14,503 to €35,458
mainly Net result for the year (+€12,087) and Depreciation (+€12,038)
- Tangible fixed assets -€9,846
down €9,846 (-29.7%), from €33,187 to €23,340
of which Plant, machinery and equipment: -€5,620
- Deferred charges and accrued income -€1,275
no longer reported in 2025 (was €1,275)
- Reserves +€12,087
up €12,087 (+493%), from €2,449 to €14,537
- Tax, wage and social debts -€1,671
down €1,671 (-34.1%), from €4,900 to €3,229
of which Remuneration and social security: -€4,035
- Trade debts -€945
down €945 (-6.7%), from €14,055 to €13,111
- Gross operating margin +€16,067
up €16,067 (+133%), from €12,124 to €28,191
- Depreciation +€4,439
up €4,439 (+58.4%), from €7,599 to €12,038
- Taxes +€2,363
up €2,363 (+273%), from €866 to €3,229
- Other operating charges -€383
down €383 (-36.4%), from €1,051 to €668
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 | €57,938 | €67,832 | +€9,893 | +17.1% |
| Fixed assets | 21/28 | €33,187 | €23,340 | -€9,846 | -29.7% |
| Tangible fixed assets | 22/27 | €33,187 | €23,340 | -€9,846 | -29.7% |
| Plant, machinery and equipment | 23 | €13,859 | €8,240 | -€5,620 | -40.5% |
| Furniture and vehicles | 24 | €19,327 | €15,101 | -€4,227 | -21.9% |
| Current assets | 29/58 | €24,752 | €44,492 | +€19,740 | +79.8% |
| Amounts receivable within one year | 40/41 | €8,974 | €9,033 | +€59 | +0.7% |
| Trade receivables | 40 | €5,926 | €6,551 | +€625 | +10.6% |
| Other amounts receivable | 41 | €3,048 | €2,482 | -€566 | -18.6% |
| Cash at bank and in hand | 54/58 | €14,503 | €35,458 | +€20,955 | +144% |
| Deferred charges and accrued income | 490/1 | €1,275 | - | -€1,275 | |
| Total equity and liabilities | 10/49 | €57,938 | €67,832 | +€9,893 | +17.1% |
| Equity | 10/15 | €5,449 | €17,537 | +€12,087 | +222% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €2,449 | €14,537 | +€12,087 | +493% |
| Distributable reserves | 133 | €2,449 | €14,537 | +€12,087 | +493% |
| Amounts payable | 17/49 | €52,489 | €50,295 | -€2,194 | -4.2% |
| Amounts payable within one year | 42/48 | €52,489 | €50,295 | -€2,194 | -4.2% |
| Trade debts | 44 | €14,055 | €13,111 | -€945 | -6.7% |
| Suppliers | 440/4 | €14,055 | €13,111 | -€945 | -6.7% |
| Taxes, remuneration and social security | 45 | €4,900 | €3,229 | -€1,671 | -34.1% |
| Taxes | 450/3 | €866 | €3,229 | +€2,363 | +273% |
| Remuneration and social security | 454/9 | €4,035 | - | -€4,035 | |
| Other amounts payable | 47/48 | €33,533 | €33,955 | +€422 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,599 | €12,038 | +€4,439 | +58.4% |
| Other operating charges | 640/8 | €1,051 | €668 | -€383 | -36.4% |
| Gross operating margin | 9900 | €12,124 | €28,191 | +€16,067 | +133% |
| Operating profit (loss) | 9901 | €3,473 | €15,485 | +€12,011 | +346% |
| Financial income | 75/76B | €6 | €14 | +€8 | +131% |
| Recurring financial income | 75 | €6 | €14 | +€8 | +131% |
| Financial charges | 65/66B | €164 | €183 | +€18 | +11.2% |
| Recurring financial charges | 65 | €164 | €183 | +€18 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €3,315 | €15,316 | +€12,001 | +362% |
| Income taxes | 67/77 | €866 | €3,229 | +€2,363 | +273% |
| Profit (loss) for the period | 9904 | €2,449 | €12,087 | +€9,638 | +393% |
| Profit (loss) for the period to be appropriated | 9905 | €2,449 | €12,087 | +€9,638 | +393% |
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 5 November 2026 via checked.be.