Maxime Lamaire: 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 Lamaire
Largest movements
- Receivables within one year +€105,926
up €105,926 (+789%), from €13,421 to €119,347
of which Other amounts receivable: +€107,931
- Cash -€104,763
down €104,763 (-68.8%), from €152,359 to €47,597
mainly Receivables within one year (-€105,926) and Investment in fixed assets (net) (-€22,100)
- Tangible fixed assets +€16,640
up €16,640 (+494%), from €3,371 to €20,011
of which Furniture and vehicles: +€17,898
- Deferred charges and accrued income +€2,640
new in 2025: €2,640
- Reserves +€25,993
up €25,993 (+21.4%), from €121,685 to €147,678
- Tax, wage and social debts -€2,488
down €2,488 (-6.7%), from €37,334 to €34,846
of which Taxes: -€1,488
- Gross operating margin -€53,960
down €53,960 (-57.2%), from €94,329 to €40,370
- Taxes -€10,825
down €10,825 (-57.2%), from €18,938 to €8,113
- Depreciation +€4,698
up €4,698 (+616%), from €762 to €5,460
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 | €169,151 | €189,595 | +€20,444 | +12.1% |
| Fixed assets | 21/28 | €3,371 | €20,011 | +€16,640 | +494% |
| Tangible fixed assets | 22/27 | €3,371 | €20,011 | +€16,640 | +494% |
| Plant, machinery and equipment | 23 | €3,371 | €2,113 | -€1,258 | -37.3% |
| Furniture and vehicles | 24 | - | €17,898 | +€17,898 | |
| Current assets | 29/58 | €165,780 | €169,584 | +€3,804 | +2.3% |
| Amounts receivable within one year | 40/41 | €13,421 | €119,347 | +€105,926 | +789% |
| Trade receivables | 40 | €13,421 | €11,416 | -€2,004 | -14.9% |
| Other amounts receivable | 41 | - | €107,931 | +€107,931 | |
| Cash at bank and in hand | 54/58 | €152,359 | €47,597 | -€104,763 | -68.8% |
| Deferred charges and accrued income | 490/1 | - | €2,640 | +€2,640 | |
| Total equity and liabilities | 10/49 | €169,151 | €189,595 | +€20,444 | +12.1% |
| Equity | 10/15 | €124,685 | €150,678 | +€25,993 | +20.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €121,685 | €147,678 | +€25,993 | +21.4% |
| Distributable reserves | 133 | €121,685 | €147,678 | +€25,993 | +21.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €44,466 | €38,917 | -€5,549 | -12.5% |
| Amounts payable within one year | 42/48 | €44,466 | €38,917 | -€5,549 | -12.5% |
| Trade debts | 44 | €5,345 | €3,450 | -€1,895 | -35.5% |
| Suppliers | 440/4 | €5,345 | €3,450 | -€1,895 | -35.5% |
| Taxes, remuneration and social security | 45 | €37,334 | €34,846 | -€2,488 | -6.7% |
| Taxes | 450/3 | €36,334 | €34,846 | -€1,488 | -4.1% |
| Remuneration and social security | 454/9 | €1,000 | €0 | -€1,000 | -100% |
| Other amounts payable | 47/48 | €1,787 | €621 | -€1,166 | -65.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €762 | €5,460 | +€4,698 | +616% |
| Other operating charges | 640/8 | €64 | €400 | +€336 | +527% |
| Gross operating margin | 9900 | €94,329 | €40,370 | -€53,960 | -57.2% |
| Operating profit (loss) | 9901 | €93,503 | €34,510 | -€58,993 | -63.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €339 | €404 | +€65 | +19.1% |
| Recurring financial charges | 65 | €339 | €404 | +€65 | +19.1% |
| Profit (loss) for the period before taxes | 9903 | €93,165 | €34,106 | -€59,059 | -63.4% |
| Income taxes | 67/77 | €18,938 | €8,113 | -€10,825 | -57.2% |
| Profit (loss) for the period | 9904 | €74,226 | €25,993 | -€48,234 | -65.0% |
| Profit (loss) for the period to be appropriated | 9905 | €74,226 | €25,993 | -€48,234 | -65.0% |
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 20 October 2026 via checked.be.