Maarten Vanempten: 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.
Maarten Vanempten
Largest movements
- Receivables within one year +€17,857
up €17,857 (+423.8%), from €4,214 to €22,071
of which Other amounts receivable: +€13,736
- Cash -€17,335
down €17,335 (-46.4%), from €37,322 to €19,987
mainly Receivables within one year (-€17,857) and Trade debts (-€15,471)
- Deferred charges and accrued income -€6,049
down €6,049 (-78.8%), from €7,673 to €1,624
- Tangible fixed assets -€2,426
down €2,426 (-11.8%), from €20,643 to €18,217
of which Furniture and vehicles: -€3,066
- Trade debts -€15,471
down €15,471 (-65.1%), from €23,779 to €8,308
- Reserves +€8,931
up €8,931 (+26.1%), from €34,157 to €43,088
- Other debts -€2,561
no longer reported in 2025 (was €2,561)
- Tax, wage and social debts +€1,482
up €1,482 (+36.9%), from €4,021 to €5,503
- Gross operating margin +€6,167
up €6,167 (+40.8%), from €15,128 to €21,295
- Depreciation +€1,610
up €1,610 (+35.2%), from €4,577 to €6,187
- Taxes +€1,482
up €1,482 (+36.9%), from €4,021 to €5,503
- Financial charges -€432
down €432 (-87.1%), from €496 to €64
- Financial income +€241
up €241 (+388.7%), from €62 to €303
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.
Cash bridge derived
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 | €69,852 | €61,899 | -€7,953 | -11.4% |
| Fixed assets | 21/28 | €20,643 | €18,217 | -€2,426 | -11.8% |
| Tangible fixed assets | 22/27 | €20,643 | €18,217 | -€2,426 | -11.8% |
| Plant, machinery and equipment | 23 | €3,934 | €4,574 | +€640 | +16.3% |
| Furniture and vehicles | 24 | €16,709 | €13,643 | -€3,066 | -18.3% |
| Current assets | 29/58 | €49,209 | €43,682 | -€5,527 | -11.2% |
| Amounts receivable within one year | 40/41 | €4,214 | €22,071 | +€17,857 | +423.8% |
| Trade receivables | 40 | €4,214 | €8,335 | +€4,121 | +97.8% |
| Other amounts receivable | 41 | - | €13,736 | +€13,736 | |
| Cash at bank and in hand | 54/58 | €37,322 | €19,987 | -€17,335 | -46.4% |
| Deferred charges and accrued income | 490/1 | €7,673 | €1,624 | -€6,049 | -78.8% |
| Total equity and liabilities | 10/49 | €69,852 | €61,899 | -€7,953 | -11.4% |
| Equity | 10/15 | €39,157 | €48,088 | +€8,931 | +22.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €34,157 | €43,088 | +€8,931 | +26.1% |
| Distributable reserves | 133 | €34,157 | €43,088 | +€8,931 | +26.1% |
| Amounts payable | 17/49 | €30,695 | €13,811 | -€16,884 | -55.0% |
| Amounts payable within one year | 42/48 | €30,361 | €13,811 | -€16,550 | -54.5% |
| Trade debts | 44 | €23,779 | €8,308 | -€15,471 | -65.1% |
| Suppliers | 440/4 | €23,779 | €8,308 | -€15,471 | -65.1% |
| Taxes, remuneration and social security | 45 | €4,021 | €5,503 | +€1,482 | +36.9% |
| Taxes | 450/3 | €4,021 | €5,503 | +€1,482 | +36.9% |
| Other amounts payable | 47/48 | €2,561 | - | -€2,561 | |
| Accrued charges and deferred income | 492/3 | €334 | - | -€334 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,577 | €6,187 | +€1,610 | +35.2% |
| Other operating charges | 640/8 | €816 | €913 | +€97 | +11.9% |
| Non-recurring operating charges | 66A | €529 | - | -€529 | |
| Gross operating margin | 9900 | €15,128 | €21,295 | +€6,167 | +40.8% |
| Operating profit (loss) | 9901 | €9,206 | €14,195 | +€4,989 | +54.2% |
| Financial income | 75/76B | €62 | €303 | +€241 | +388.7% |
| Recurring financial income | 75 | €62 | €303 | +€241 | +388.7% |
| Financial charges | 65/66B | €496 | €64 | -€432 | -87.1% |
| Recurring financial charges | 65 | €496 | €64 | -€432 | -87.1% |
| Profit (loss) for the period before taxes | 9903 | €8,772 | €14,434 | +€5,662 | +64.5% |
| Income taxes | 67/77 | €4,021 | €5,503 | +€1,482 | +36.9% |
| Profit (loss) for the period | 9904 | €4,751 | €8,931 | +€4,180 | +88.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,751 | €8,931 | +€4,180 | +88.0% |
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 11 October 2026 via checked.be.