Maxim Steinmeyer: 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.
Maxim Steinmeyer
Largest movements
- Receivables within one year +€5,593
up €5,593 (+266.4%), from €2,100 to €7,693
- Tangible fixed assets -€3,640
down €3,640 (-14.7%), from €24,746 to €21,105
- Cash -€2,823
down €2,823 (-18.5%), from €15,244 to €12,421
mainly Receivables within one year (-€5,593) and Investment in fixed assets (net) (-€2,098)
- Other debts -€2,028
down €2,028 (-6.7%), from €30,338 to €28,310
- Profit (loss) carried forward +€1,792
up €1,792 (+25.5%), from €7,015 to €8,807
- Trade debts -€488
down €488 (-71.1%), from €687 to €199
- Depreciation +€3,759
up €3,759 (+189.9%), from €1,979 to €5,738
- Gross operating margin -€2,199
down €2,199 (-17.0%), from €12,924 to €10,725
- Financial charges -€828
down €828 (-94.2%), from €879 to €51
- Other operating charges +€160
up €160 (+26.9%), from €595 to €756
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 | €42,495 | €41,705 | -€790 | -1.9% |
| Fixed assets | 21/28 | €24,746 | €21,105 | -€3,640 | -14.7% |
| Tangible fixed assets | 22/27 | €24,746 | €21,105 | -€3,640 | -14.7% |
| Furniture and vehicles | 24 | €24,746 | €21,105 | -€3,640 | -14.7% |
| Current assets | 29/58 | €17,749 | €20,600 | +€2,850 | +16.1% |
| Amounts receivable within one year | 40/41 | €2,100 | €7,693 | +€5,593 | +266.4% |
| Trade receivables | 40 | €2,100 | €7,693 | +€5,593 | +266.4% |
| Cash at bank and in hand | 54/58 | €15,244 | €12,421 | -€2,823 | -18.5% |
| Deferred charges and accrued income | 490/1 | €406 | €485 | +€80 | +19.6% |
| Total equity and liabilities | 10/49 | €42,495 | €41,705 | -€790 | -1.9% |
| Equity | 10/15 | €9,015 | €10,807 | +€1,792 | +19.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,015 | €8,807 | +€1,792 | +25.5% |
| Amounts payable | 17/49 | €33,480 | €30,898 | -€2,582 | -7.7% |
| Amounts payable within one year | 42/48 | €33,480 | €30,898 | -€2,582 | -7.7% |
| Trade debts | 44 | €687 | €199 | -€488 | -71.1% |
| Suppliers | 440/4 | €687 | €199 | -€488 | -71.1% |
| Taxes, remuneration and social security | 45 | €2,455 | €2,390 | -€65 | -2.7% |
| Taxes | 450/3 | €2,455 | €2,390 | -€65 | -2.7% |
| Other amounts payable | 47/48 | €30,338 | €28,310 | -€2,028 | -6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,979 | €5,738 | +€3,759 | +189.9% |
| Other operating charges | 640/8 | €595 | €756 | +€160 | +26.9% |
| Gross operating margin | 9900 | €12,924 | €10,725 | -€2,199 | -17.0% |
| Operating profit (loss) | 9901 | €10,349 | €4,231 | -€6,118 | -59.1% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €879 | €51 | -€828 | -94.2% |
| Recurring financial charges | 65 | €879 | €51 | -€828 | -94.2% |
| Profit (loss) for the period before taxes | 9903 | €9,470 | €4,181 | -€5,289 | -55.8% |
| Income taxes | 67/77 | €2,455 | €2,390 | -€65 | -2.7% |
| Profit (loss) for the period | 9904 | €7,015 | €1,792 | -€5,224 | -74.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,015 | €1,792 | -€5,224 | -74.5% |
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 10 October 2026 via checked.be.