Maxime GASPAR: 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 GASPAR
Largest movements
- Tangible fixed assets +€56,634
up €56,634 (+8.2%), from €693,533 to €750,167
of which Leasing and similar rights: +€151,500
- Receivables within one year -€42,000
down €42,000 (-18.8%), from €223,312 to €181,311
of which Other amounts receivable: -€74,825
- Trade debts -€44,785
down €44,785 (-54.6%), from €82,051 to €37,265
- Debts after one year +€24,364
up €24,364 (+4.6%), from €533,359 to €557,723
- Current portion of long-term debt +€19,338
up €19,338 (+12.0%), from €160,821 to €180,159
- Contributions +€17,600
up €17,600 (+1,760%), from €1,000 to €18,600
- Gross operating margin +€83,887
up €83,887 (+38.7%), from €216,974 to €300,861
- Depreciation +€37,576
up €37,576 (+24.7%), from €152,333 to €189,909
- Purchases and services +€36,807
up €36,807 (+9.7%), from €378,293 to €415,100
- Staff costs +€16,764
up €16,764 (+42.6%), from €39,380 to €56,144
- Financial charges +€6,055
up €6,055 (+37.5%), from €16,143 to €22,198
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 | €950,931 | €969,761 | +€18,830 | +2.0% |
| Fixed assets | 21/28 | €693,533 | €750,167 | +€56,634 | +8.2% |
| Tangible fixed assets | 22/27 | €693,533 | €750,167 | +€56,634 | +8.2% |
| Plant, machinery and equipment | 23 | €400,807 | €303,667 | -€97,140 | -24.2% |
| Furniture and vehicles | 24 | €292,726 | €295,000 | +€2,274 | +0.8% |
| Leasing and similar rights | 25 | - | €151,500 | +€151,500 | |
| Current assets | 29/58 | €257,398 | €219,595 | -€37,804 | -14.7% |
| Stocks and contracts in progress | 3 | €19,228 | €12,000 | -€7,228 | -37.6% |
| Stocks | 30/36 | €19,228 | €12,000 | -€7,228 | -37.6% |
| Amounts receivable within one year | 40/41 | €223,312 | €181,311 | -€42,000 | -18.8% |
| Trade receivables | 40 | €142,706 | €175,530 | +€32,825 | +23.0% |
| Other amounts receivable | 41 | €80,606 | €5,781 | -€74,825 | -92.8% |
| Cash at bank and in hand | 54/58 | €14,859 | €19,106 | +€4,247 | +28.6% |
| Deferred charges and accrued income | 490/1 | - | €7,178 | +€7,178 | |
| Total equity and liabilities | 10/49 | €950,931 | €969,761 | +€18,830 | +2.0% |
| Equity | 10/15 | €144,541 | €171,412 | +€26,871 | +18.6% |
| Contributions | 10/11 | €1,000 | €18,600 | +€17,600 | +1,760% |
| Contributions outside capital | 11 | €1,000 | €18,600 | +€17,600 | +1,760% |
| Share premium | 1100/10 | - | €18,600 | +€18,600 | |
| Other | 1109/19 | €1,000 | - | -€1,000 | |
| Reserves | 13 | €143,000 | €152,400 | +€9,400 | +6.6% |
| Distributable reserves | 133 | €143,000 | €152,400 | +€9,400 | +6.6% |
| Profit (loss) carried forward | 14 | €541 | €412 | -€129 | -23.8% |
| Amounts payable | 17/49 | €806,391 | €798,349 | -€8,042 | -1.0% |
| Amounts payable after more than one year | 17 | €533,359 | €557,723 | +€24,364 | +4.6% |
| Financial debts | 170/4 | €533,359 | €557,723 | +€24,364 | +4.6% |
| Amounts payable within one year | 42/48 | €273,032 | €240,626 | -€32,406 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €160,821 | €180,159 | +€19,338 | +12.0% |
| Trade debts | 44 | €82,051 | €37,265 | -€44,785 | -54.6% |
| Suppliers | 440/4 | €82,051 | €37,265 | -€44,785 | -54.6% |
| Taxes, remuneration and social security | 45 | €11,125 | €9,758 | -€1,367 | -12.3% |
| Taxes | 450/3 | €215 | - | -€215 | |
| Remuneration and social security | 454/9 | €10,910 | €9,758 | -€1,152 | -10.6% |
| Other amounts payable | 47/48 | €19,035 | €13,444 | -€5,592 | -29.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €378,293 | €415,100 | +€36,807 | +9.7% |
| Remuneration, social security and pensions | 62 | €39,380 | €56,144 | +€16,764 | +42.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €152,333 | €189,909 | +€37,576 | +24.7% |
| Other operating charges | 640/8 | €1,876 | €6,208 | +€4,332 | +231% |
| Gross operating margin | 9900 | €216,974 | €300,861 | +€83,887 | +38.7% |
| Operating profit (loss) | 9901 | €23,386 | €48,600 | +€25,214 | +108% |
| Financial income | 75/76B | €879 | €817 | -€63 | -7.1% |
| Recurring financial income | 75 | €879 | €817 | -€63 | -7.1% |
| Financial charges | 65/66B | €16,143 | €22,198 | +€6,055 | +37.5% |
| Recurring financial charges | 65 | €16,143 | €22,198 | +€6,055 | +37.5% |
| Profit (loss) for the period before taxes | 9903 | €8,122 | €27,219 | +€19,097 | +235% |
| Income taxes | 67/77 | -€195 | €347 | +€542 | |
| Profit (loss) for the period | 9904 | €8,317 | €26,871 | +€18,555 | +223% |
| Profit (loss) for the period to be appropriated | 9905 | €8,317 | €26,871 | +€18,555 | +223% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.