Maud De Decker: 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.
Maud De Decker
Largest movements
- Current investments +€55,045
up €55,045 (+58.0%), from €94,955 to €150,000
- Cash +€20,274
up €20,274 (+14.4%), from €140,926 to €161,201
mainly Net result for the year (+€75,736) and Trade debts (+€1,741)
- Reserves +€75,736
up €75,736 (+44.9%), from €168,751 to €244,486
- Gross operating margin +€9,895
up €9,895 (+10.7%), from €92,071 to €101,966
- Taxes +€8,723
up €8,723 (+45.9%), from €19,010 to €27,733
- Financial income +€5,618
up €5,618 (+3,108%), from €181 to €5,799
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 | €237,697 | €314,136 | +€76,439 | +32.2% |
| Fixed assets | 21/28 | €1,259 | €839 | -€420 | -33.4% |
| Tangible fixed assets | 22/27 | €1,259 | €839 | -€420 | -33.4% |
| Plant, machinery and equipment | 23 | €881 | €681 | -€200 | -22.7% |
| Furniture and vehicles | 24 | €378 | €157 | -€220 | -58.3% |
| Current assets | 29/58 | €236,438 | €313,298 | +€76,859 | +32.5% |
| Amounts receivable within one year | 40/41 | €8 | €443 | +€435 | +5,230% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €8 | €443 | +€435 | +5,230% |
| Current investments | 50/53 | €94,955 | €150,000 | +€55,045 | +58.0% |
| Cash at bank and in hand | 54/58 | €140,926 | €161,201 | +€20,274 | +14.4% |
| Deferred charges and accrued income | 490/1 | €548 | €1,653 | +€1,105 | +201% |
| Total equity and liabilities | 10/49 | €237,697 | €314,136 | +€76,439 | +32.2% |
| Equity | 10/15 | €173,751 | €249,486 | +€75,736 | +43.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €168,751 | €244,486 | +€75,736 | +44.9% |
| Distributable reserves | 133 | €168,751 | €244,486 | +€75,736 | +44.9% |
| Amounts payable | 17/49 | €63,946 | €64,650 | +€704 | +1.1% |
| Amounts payable within one year | 42/48 | €63,946 | €64,650 | +€704 | +1.1% |
| Trade debts | 44 | - | €1,741 | +€1,741 | |
| Suppliers | 440/4 | - | €1,741 | +€1,741 | |
| Taxes, remuneration and social security | 45 | €62,846 | €62,909 | +€63 | +0.1% |
| Taxes | 450/3 | €62,846 | €62,909 | +€63 | +0.1% |
| Other amounts payable | 47/48 | €1,101 | €0 | -€1,101 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €443 | €420 | -€23 | -5.2% |
| Other operating charges | 640/8 | €556 | €572 | +€16 | +2.9% |
| Gross operating margin | 9900 | €92,071 | €101,966 | +€9,895 | +10.7% |
| Operating profit (loss) | 9901 | €91,072 | €100,975 | +€9,902 | +10.9% |
| Financial income | 75/76B | €181 | €5,799 | +€5,618 | +3,108% |
| Recurring financial income | 75 | €181 | €5,799 | +€5,618 | +3,108% |
| Financial charges | 65/66B | €2,604 | €3,305 | +€701 | +26.9% |
| Recurring financial charges | 65 | €2,604 | €3,305 | +€701 | +26.9% |
| Profit (loss) for the period before taxes | 9903 | €88,648 | €103,468 | +€14,820 | +16.7% |
| Income taxes | 67/77 | €19,010 | €27,733 | +€8,723 | +45.9% |
| Profit (loss) for the period | 9904 | €69,638 | €75,736 | +€6,097 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €69,638 | €75,736 | +€6,097 | +8.8% |
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 13 October 2026 via checked.be.