Maimonides: what changed
Two fiscal 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.
Maimonides
Largest movements
- Receivables within one year -€239
down €239 (-62.7%), from €381 to €142
- Other debts +€18,750
up €18,750 (+42.6%), from €44,006 to €62,755
- Profit (loss) carried forward -€17,182
down €17,182 (-29.6%), from -€57,981 to -€75,162
- Trade debts -€1,807
down €1,807 (-76.7%), from €2,356 to €549
- Gross operating margin -€7,700
down €7,700 (-90.3%), from -€8,523 to -€16,223
- Other operating charges -€171
down €171 (-24.3%), from €705 to €534
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 | €381 | €142 | -€239 | -62.8% |
| Current assets | 29/58 | €381 | €142 | -€239 | -62.8% |
| Amounts receivable within one year | 40/41 | €381 | €142 | -€239 | -62.7% |
| Other amounts receivable | 41 | €381 | €142 | -€239 | -62.7% |
| Cash at bank and in hand | 54/58 | €1 | €0 | -€1 | -89.9% |
| Total equity and liabilities | 10/49 | €381 | €142 | -€239 | -62.8% |
| Equity | 10/15 | -€45,981 | -€63,162 | -€17,182 | -37.4% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,981 | -€75,162 | -€17,182 | -29.6% |
| Amounts payable | 17/49 | €46,362 | €63,304 | +€16,942 | +36.5% |
| Amounts payable within one year | 42/48 | €46,362 | €63,304 | +€16,942 | +36.5% |
| Trade debts | 44 | €2,356 | €549 | -€1,807 | -76.7% |
| Suppliers | 440/4 | €2,356 | €549 | -€1,807 | -76.7% |
| Other amounts payable | 47/48 | €44,006 | €62,755 | +€18,750 | +42.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €705 | €534 | -€171 | -24.3% |
| Gross operating margin | 9900 | -€8,523 | -€16,223 | -€7,700 | -90.3% |
| Operating profit (loss) | 9901 | -€9,228 | -€16,758 | -€7,529 | -81.6% |
| Financial charges | 65/66B | €268 | €424 | +€156 | +58.1% |
| Recurring financial charges | 65 | €268 | €424 | +€156 | +58.1% |
| Profit (loss) for the period before taxes | 9903 | -€9,497 | -€17,182 | -€7,685 | -80.9% |
| Profit (loss) for the period | 9904 | -€9,497 | -€17,182 | -€7,685 | -80.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,497 | -€17,182 | -€7,685 | -80.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.