MAEBE CHRISTOPHE: 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.
MAEBE CHRISTOPHE
Largest movements
- Current investments +€90,127
up €90,127 (+56.4%), from €159,873 to €250,000
- Tangible fixed assets -€71,166
down €71,166 (-7.4%), from €960,663 to €889,497
of which Land and buildings: -€77,416
- Cash -€29,600
down €29,600 (-71.3%), from €41,505 to €11,906
- Deferred charges and accrued income -€29,233
down €29,233 (-48.2%), from €60,612 to €31,379
- Receivables after one year +€20,000
new in 2025: €20,000
- Reserves +€164,800
up €164,800 (+16.3%), from €1.0m to €1.2m
of which Distributable reserves: +€174,902
- Current portion of long-term debt -€53,232
down €53,232 (-100.0%), from €53,232 to €0
- Debts after one year -€50,630
down €50,630 (-100.0%), from €50,630 to €0
- Tax, wage and social debts -€48,761
down €48,761 (-100.0%), from €48,761 to €0
of which Remuneration and social security: -€31,056
- Gross operating margin +€560,072
up €560,072 (+127.5%), from €439,431 to €999,503
- Taxes +€201,510
up €201,510 (+330.8%), from €60,915 to €262,425
- Staff costs -€111,490
down €111,490 (-57.2%), from €195,043 to €83,553
- Financial income +€25,582
up €25,582 (+1954.2%), from €1,309 to €26,891
- Depreciation +€22,705
up €22,705 (+36.8%), from €61,719 to €84,424
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,227,391 | €1,227,278 | -€113 | 0.0% |
| Fixed assets | 21/28 | €960,897 | €889,497 | -€71,400 | -7.4% |
| Tangible fixed assets | 22/27 | €960,663 | €889,497 | -€71,166 | -7.4% |
| Land and buildings | 22 | €906,597 | €829,180 | -€77,416 | -8.5% |
| Plant, machinery and equipment | 23 | €6,145 | €6,010 | -€135 | -2.2% |
| Furniture and vehicles | 24 | €9,896 | €23,321 | +€13,426 | +135.7% |
| Leasing and similar rights | 25 | €7,040 | €0 | -€7,040 | -100.0% |
| Other tangible fixed assets | 26 | €30,986 | €30,986 | = | 0.0% |
| Financial fixed assets | 28 | €234 | €0 | -€234 | -100.0% |
| Current assets | 29/58 | €266,494 | €337,781 | +€71,286 | +26.7% |
| Amounts receivable after more than one year | 29 | - | €20,000 | +€20,000 | |
| Other amounts receivable | 291 | - | €20,000 | +€20,000 | |
| Amounts receivable within one year | 40/41 | €4,504 | €24,496 | +€19,992 | +443.9% |
| Trade receivables | 40 | €937 | €0 | -€937 | -100.0% |
| Other amounts receivable | 41 | €3,567 | €24,496 | +€20,928 | +586.7% |
| Current investments | 50/53 | €159,873 | €250,000 | +€90,127 | +56.4% |
| Cash at bank and in hand | 54/58 | €41,505 | €11,906 | -€29,600 | -71.3% |
| Deferred charges and accrued income | 490/1 | €60,612 | €31,379 | -€29,233 | -48.2% |
| Total equity and liabilities | 10/49 | €1,227,391 | €1,227,278 | -€113 | 0.0% |
| Equity | 10/15 | €1,016,306 | €1,181,106 | +€164,800 | +16.2% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,010,109 | €1,174,909 | +€164,800 | +16.3% |
| Tax-exempt reserves | 132 | €158,740 | €148,638 | -€10,102 | -6.4% |
| Distributable reserves | 133 | €851,369 | €1,026,271 | +€174,902 | +20.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €39,685 | €37,160 | -€2,525 | -6.4% |
| Deferred taxes | 168 | €39,685 | €37,160 | -€2,525 | -6.4% |
| Amounts payable | 17/49 | €171,400 | €9,013 | -€162,388 | -94.7% |
| Amounts payable after more than one year | 17 | €50,630 | €0 | -€50,630 | -100.0% |
| Financial debts | 170/4 | €50,630 | €0 | -€50,630 | -100.0% |
| Amounts payable within one year | 42/48 | €115,016 | €3,618 | -€111,398 | -96.9% |
| Current portion of amounts payable after more than one year | 42 | €53,232 | €0 | -€53,232 | -100.0% |
| Financial debts | 43 | - | €3 | +€3 | |
| Credit institutions | 430/8 | - | €3 | +€3 | |
| Trade debts | 44 | €13,023 | €3,615 | -€9,408 | -72.2% |
| Suppliers | 440/4 | €13,023 | €3,615 | -€9,408 | -72.2% |
| Taxes, remuneration and social security | 45 | €48,761 | €0 | -€48,761 | -100.0% |
| Taxes | 450/3 | €17,706 | €0 | -€17,706 | -100.0% |
| Remuneration and social security | 454/9 | €31,056 | €0 | -€31,056 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €5,754 | €5,395 | -€360 | -6.3% |
| Non-recurring operating income | 76A | €1,786 | €802,172 | +€800,387 | +44823.3% |
| Remuneration, social security and pensions | 62 | €195,043 | €83,553 | -€111,490 | -57.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,719 | €84,424 | +€22,705 | +36.8% |
| Other operating charges | 640/8 | €7,183 | €16,083 | +€8,900 | +123.9% |
| Non-recurring operating charges | 66A | €10,904 | €20,681 | +€9,777 | +89.7% |
| Gross operating margin | 9900 | €439,431 | €999,503 | +€560,072 | +127.5% |
| Operating profit (loss) | 9901 | €164,582 | €794,761 | +€630,180 | +382.9% |
| Financial income | 75/76B | €1,309 | €26,891 | +€25,582 | +1954.2% |
| Recurring financial income | 75 | €1,309 | €26,891 | +€25,582 | +1954.2% |
| Financial charges | 65/66B | -€2,627 | €15,340 | +€17,967 | |
| Recurring financial charges | 65 | -€2,627 | €15,340 | +€17,967 | |
| Profit (loss) for the period before taxes | 9903 | €168,518 | €806,312 | +€637,794 | +378.5% |
| Transfer from deferred taxes | 780 | €1,638 | €2,525 | +€887 | +54.2% |
| Income taxes | 67/77 | €60,915 | €262,425 | +€201,510 | +330.8% |
| Profit (loss) for the period | 9904 | €109,241 | €546,413 | +€437,171 | +400.2% |
| Transfer from tax-exempt reserves | 789 | €6,553 | €10,102 | +€3,549 | +54.2% |
| Profit (loss) for the period to be appropriated | 9905 | €115,794 | €556,514 | +€440,720 | +380.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.