Maëva Schweyen: 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.
Maëva Schweyen
Largest movements
- Tangible fixed assets +€89,359
up €89,359 (+43.4%), from €206,117 to €295,476
of which Land and buildings: +€75,917
- Cash -€30,061
down €30,061 (-51.3%), from €58,552 to €28,491
mainly Investment in fixed assets (net) (-€97,609) and Receivables within one year (-€11,915)
- Receivables within one year +€11,915
up €11,915 (+38.4%), from €31,062 to €42,977
of which Trade receivables: +€11,915
- Reserves +€28,118
up €28,118 (+19.9%), from €140,967 to €169,084
- Tax, wage and social debts +€22,189
up €22,189 (+391%), from €5,675 to €27,864
- Other debts +€19,546
up €19,546 (+2,377%), from €822 to €20,368
- Debts after one year -€8,033
down €8,033 (-4.4%), from €184,500 to €176,467
- Current portion of long-term debt +€6,456
new in 2025: €6,456
- Gross operating margin -€14,899
down €14,899 (-20.5%), from €72,795 to €57,896
- Depreciation +€4,156
up €4,156 (+102%), from €4,094 to €8,250
- Financial charges +€4,123
up €4,123 (+98.4%), from €4,189 to €8,312
- Taxes -€1,980
down €1,980 (-15.6%), from €12,725 to €10,745
- Other operating charges -€1,714
down €1,714 (-40.9%), from €4,185 to €2,472
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 | €335,730 | €406,944 | +€71,214 | +21.2% |
| Fixed assets | 21/28 | €206,117 | €295,476 | +€89,359 | +43.4% |
| Tangible fixed assets | 22/27 | €206,117 | €295,476 | +€89,359 | +43.4% |
| Land and buildings | 22 | €198,726 | €274,642 | +€75,917 | +38.2% |
| Plant, machinery and equipment | 23 | €6,361 | €20,296 | +€13,935 | +219% |
| Furniture and vehicles | 24 | €1,030 | €538 | -€492 | -47.8% |
| Current assets | 29/58 | €129,614 | €111,468 | -€18,145 | -14.0% |
| Amounts receivable within one year | 40/41 | €31,062 | €42,977 | +€11,915 | +38.4% |
| Trade receivables | 40 | €28,787 | €40,702 | +€11,915 | +41.4% |
| Other amounts receivable | 41 | €2,275 | €2,275 | = | 0.0% |
| Current investments | 50/53 | €40,000 | €40,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €58,552 | €28,491 | -€30,061 | -51.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €335,730 | €406,944 | +€71,214 | +21.2% |
| Equity | 10/15 | €143,967 | €172,084 | +€28,118 | +19.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €140,967 | €169,084 | +€28,118 | +19.9% |
| Distributable reserves | 133 | €140,967 | €169,084 | +€28,118 | +19.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €191,764 | €234,860 | +€43,097 | +22.5% |
| Amounts payable after more than one year | 17 | €184,500 | €176,467 | -€8,033 | -4.4% |
| Financial debts | 170/4 | €184,500 | €176,467 | -€8,033 | -4.4% |
| Amounts payable within one year | 42/48 | €7,140 | €58,394 | +€51,253 | +718% |
| Current portion of amounts payable after more than one year | 42 | - | €6,456 | +€6,456 | |
| Trade debts | 44 | €643 | €3,705 | +€3,063 | +477% |
| Suppliers | 440/4 | €643 | €3,705 | +€3,063 | +477% |
| Taxes, remuneration and social security | 45 | €5,675 | €27,864 | +€22,189 | +391% |
| Taxes | 450/3 | €5,675 | €27,864 | +€22,189 | +391% |
| Other amounts payable | 47/48 | €822 | €20,368 | +€19,546 | +2,377% |
| Accrued charges and deferred income | 492/3 | €124 | €0 | -€124 | -100% |
| Non-recurring operating income | 76A | - | €745 | +€745 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,094 | €8,250 | +€4,156 | +102% |
| Other operating charges | 640/8 | €4,185 | €2,472 | -€1,714 | -40.9% |
| Gross operating margin | 9900 | €72,795 | €57,896 | -€14,899 | -20.5% |
| Operating profit (loss) | 9901 | €64,515 | €47,174 | -€17,341 | -26.9% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €4,189 | €8,312 | +€4,123 | +98.4% |
| Recurring financial charges | 65 | €4,189 | €8,312 | +€4,123 | +98.4% |
| Profit (loss) for the period before taxes | 9903 | €60,326 | €38,862 | -€21,464 | -35.6% |
| Income taxes | 67/77 | €12,725 | €10,745 | -€1,980 | -15.6% |
| Profit (loss) for the period | 9904 | €47,602 | €28,118 | -€19,484 | -40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €47,602 | €28,118 | -€19,484 | -40.9% |
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 21 October 2026 via checked.be.