Maxime Dequinze: 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.
Maxime Dequinze
Largest movements
- Cash +€14,483
up €14,483 (+11.9%), from €121,624 to €136,107
mainly Net result for the year (+€88,362) and Depreciation (+€21,166)
- Receivables within one year +€14,135
up €14,135 (+16.2%), from €87,300 to €101,435
of which Other amounts receivable: +€19,635
- Intangible fixed assets -€10,000
down €10,000 (-11.1%), from €90,000 to €80,000
- Tangible fixed assets -€6,973
down €6,973 (-12.2%), from €56,972 to €49,999
of which Furniture and vehicles: -€6,369
- Reserves +€87,529
up €87,529 (+41.8%), from €209,343 to €296,871
- Other debts -€62,633
down €62,633 (-59.2%), from €105,832 to €43,199
- Tax, wage and social debts -€5,674
down €5,674 (-32.1%), from €17,674 to €12,000
- Debts after one year -€4,936
down €4,936 (-33.3%), from €14,813 to €9,877
- Gross operating margin -€153,003
down €153,003 (-52.9%), from €289,311 to €136,308
- Taxes -€40,310
down €40,310 (-61.4%), from €65,674 to €25,365
- Depreciation +€9,342
up €9,342 (+79.0%), from €11,823 to €21,166
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 | €358,668 | €371,587 | +€12,919 | +3.6% |
| Fixed assets | 21/28 | €146,972 | €129,999 | -€16,973 | -11.5% |
| Intangible fixed assets | 21 | €90,000 | €80,000 | -€10,000 | -11.1% |
| Tangible fixed assets | 22/27 | €56,972 | €49,999 | -€6,973 | -12.2% |
| Furniture and vehicles | 24 | €50,976 | €44,607 | -€6,369 | -12.5% |
| Other tangible fixed assets | 26 | €5,996 | €5,392 | -€604 | -10.1% |
| Current assets | 29/58 | €211,696 | €241,588 | +€29,891 | +14.1% |
| Amounts receivable within one year | 40/41 | €87,300 | €101,435 | +€14,135 | +16.2% |
| Trade receivables | 40 | €87,300 | €81,800 | -€5,500 | -6.3% |
| Other amounts receivable | 41 | - | €19,635 | +€19,635 | |
| Cash at bank and in hand | 54/58 | €121,624 | €136,107 | +€14,483 | +11.9% |
| Deferred charges and accrued income | 490/1 | €2,772 | €4,046 | +€1,274 | +45.9% |
| Total equity and liabilities | 10/49 | €358,668 | €371,587 | +€12,919 | +3.6% |
| Equity | 10/15 | €212,343 | €299,871 | +€87,529 | +41.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €209,343 | €296,871 | +€87,529 | +41.8% |
| Distributable reserves | 133 | €209,343 | €296,871 | +€87,529 | +41.8% |
| Amounts payable | 17/49 | €146,325 | €71,715 | -€74,610 | -51.0% |
| Amounts payable after more than one year | 17 | €14,813 | €9,877 | -€4,936 | -33.3% |
| Financial debts | 170/4 | €14,813 | €9,877 | -€4,936 | -33.3% |
| Amounts payable within one year | 42/48 | €131,512 | €61,838 | -€69,674 | -53.0% |
| Current portion of amounts payable after more than one year | 42 | €4,793 | €4,936 | +€143 | +3.0% |
| Trade debts | 44 | €3,213 | €1,703 | -€1,510 | -47.0% |
| Suppliers | 440/4 | €3,213 | €1,703 | -€1,510 | -47.0% |
| Taxes, remuneration and social security | 45 | €17,674 | €12,000 | -€5,674 | -32.1% |
| Taxes | 450/3 | €17,674 | €12,000 | -€5,674 | -32.1% |
| Other amounts payable | 47/48 | €105,832 | €43,199 | -€62,633 | -59.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,823 | €21,166 | +€9,342 | +79.0% |
| Other operating charges | 640/8 | €1,304 | €824 | -€480 | -36.8% |
| Gross operating margin | 9900 | €289,311 | €136,308 | -€153,003 | -52.9% |
| Operating profit (loss) | 9901 | €276,184 | €114,318 | -€161,866 | -58.6% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €311 | €592 | +€281 | +90.3% |
| Recurring financial charges | 65 | €311 | €592 | +€281 | +90.3% |
| Profit (loss) for the period before taxes | 9903 | €275,876 | €113,726 | -€162,150 | -58.8% |
| Income taxes | 67/77 | €65,674 | €25,365 | -€40,310 | -61.4% |
| Profit (loss) for the period | 9904 | €210,202 | €88,362 | -€121,840 | -58.0% |
| Profit (loss) for the period to be appropriated | 9905 | €210,202 | €88,362 | -€121,840 | -58.0% |
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 15 October 2026 via checked.be.