Maxim Guinée: what changed
Maxim Guinée
Largest movements
- Tangible fixed assets +€55,033
new in 2025: €55,033
- Current investments +€25,000
new in 2025: €25,000
- Cash -€7,227
down €7,227 (-12.3%), from €58,607 to €51,380
mainly Investment in fixed assets (net) (-€64,500) and Current investments (-€25,000)
- Receivables within one year -€5,525
down €5,525 (-24.5%), from €22,545 to €17,019
of which Trade receivables: -€5,957
- Debts after one year +€32,290
new in 2025: €32,290
- Reserves +€24,334
up €24,334 (+52.5%), from €46,383 to €70,717
- Current portion of long-term debt +€12,184
new in 2025: €12,184
- Trade debts -€4,513
down €4,513 (-35.8%), from €12,599 to €8,086
- Tax, wage and social debts +€2,830
up €2,830 (+17.2%), from €16,460 to €19,289
of which Taxes: +€6,325
- Gross operating margin -€9,883
down €9,883 (-8.6%), from €114,957 to €105,074
- Depreciation +€9,467
new in 2025: €9,467
- Staff costs +€6,335
up €6,335 (+11.2%), from €56,503 to €62,839
- Taxes -€5,228
down €5,228 (-43.8%), from €11,941 to €6,712
- Financial charges +€1,405
up €1,405 (+986%), from €142 to €1,548
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €82,442 | €149,566 | +€67,124 | +81.4% |
| Fixed assets | 21/28 | - | €55,033 | +€55,033 | |
| Tangible fixed assets | 22/27 | - | €55,033 | +€55,033 | |
| Furniture and vehicles | 24 | - | €55,033 | +€55,033 | |
| Current assets | 29/58 | €82,442 | €94,533 | +€12,091 | +14.7% |
| Amounts receivable within one year | 40/41 | €22,545 | €17,019 | -€5,525 | -24.5% |
| Trade receivables | 40 | €14,986 | €9,029 | -€5,957 | -39.8% |
| Other amounts receivable | 41 | €7,558 | €7,990 | +€432 | +5.7% |
| Current investments | 50/53 | - | €25,000 | +€25,000 | |
| Cash at bank and in hand | 54/58 | €58,607 | €51,380 | -€7,227 | -12.3% |
| Deferred charges and accrued income | 490/1 | €1,290 | €1,134 | -€156 | -12.1% |
| Total equity and liabilities | 10/49 | €82,442 | €149,566 | +€67,124 | +81.4% |
| Equity | 10/15 | €53,383 | €77,717 | +€24,334 | +45.6% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €46,383 | €70,717 | +€24,334 | +52.5% |
| Distributable reserves | 133 | €46,383 | €70,717 | +€24,334 | +52.5% |
| Amounts payable | 17/49 | €29,059 | €71,849 | +€42,791 | +147% |
| Amounts payable after more than one year | 17 | - | €32,290 | +€32,290 | |
| Financial debts | 170/4 | - | €32,290 | +€32,290 | |
| Amounts payable within one year | 42/48 | €29,059 | €39,559 | +€10,500 | +36.1% |
| Current portion of amounts payable after more than one year | 42 | - | €12,184 | +€12,184 | |
| Trade debts | 44 | €12,599 | €8,086 | -€4,513 | -35.8% |
| Suppliers | 440/4 | €12,599 | €8,086 | -€4,513 | -35.8% |
| Taxes, remuneration and social security | 45 | €16,460 | €19,289 | +€2,830 | +17.2% |
| Taxes | 450/3 | €12,964 | €19,289 | +€6,325 | +48.8% |
| Remuneration and social security | 454/9 | €3,496 | - | -€3,496 | |
| Remuneration, social security and pensions | 62 | €56,503 | €62,839 | +€6,335 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €9,467 | +€9,467 | |
| Other operating charges | 640/8 | €426 | €1,129 | +€702 | +165% |
| Gross operating margin | 9900 | €114,957 | €105,074 | -€9,883 | -8.6% |
| Operating profit (loss) | 9901 | €58,027 | €31,640 | -€26,387 | -45.5% |
| Financial income | 75/76B | €439 | €953 | +€514 | +117% |
| Recurring financial income | 75 | €439 | €953 | +€514 | +117% |
| Financial charges | 65/66B | €142 | €1,548 | +€1,405 | +986% |
| Recurring financial charges | 65 | €142 | €1,548 | +€1,405 | +986% |
| Profit (loss) for the period before taxes | 9903 | €58,324 | €31,046 | -€27,278 | -46.8% |
| Income taxes | 67/77 | €11,941 | €6,712 | -€5,228 | -43.8% |
| Profit (loss) for the period | 9904 | €46,383 | €24,334 | -€22,050 | -47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €46,383 | €24,334 | -€22,050 | -47.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.