MAXIME LELEU: 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 LELEU
Largest movements
- Current investments +€73,603
up €73,603 (+73.0%), from €100,866 to €174,469
- Cash -€11,949
down €11,949 (-16.7%), from €71,467 to €59,518
mainly Current investments (-€73,603) and Investment in fixed assets (net) (-€4,136)
- Reserves +€56,761
up €56,761 (+35.2%), from €161,379 to €218,141
- Tax, wage and social debts +€5,062
up €5,062 (+59.7%), from €8,472 to €13,534
- Taxes +€4,702
up €4,702 (+26.7%), from €17,641 to €22,343
- Gross operating margin -€1,888
down €1,888 (-2.2%), from €84,322 to €82,434
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 | €177,157 | €239,806 | +€62,650 | +35.4% |
| Fixed assets | 21/28 | €4,636 | €5,820 | +€1,183 | +25.5% |
| Tangible fixed assets | 22/27 | €4,636 | €5,820 | +€1,183 | +25.5% |
| Furniture and vehicles | 24 | €4,636 | €5,820 | +€1,183 | +25.5% |
| Current assets | 29/58 | €172,520 | €233,987 | +€61,467 | +35.6% |
| Current investments | 50/53 | €100,866 | €174,469 | +€73,603 | +73.0% |
| Cash at bank and in hand | 54/58 | €71,467 | €59,518 | -€11,949 | -16.7% |
| Deferred charges and accrued income | 490/1 | €188 | - | -€188 | |
| Total equity and liabilities | 10/49 | €177,157 | €239,806 | +€62,650 | +35.4% |
| Equity | 10/15 | €163,879 | €220,641 | +€56,761 | +34.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €161,379 | €218,141 | +€56,761 | +35.2% |
| Distributable reserves | 133 | €161,379 | €218,141 | +€56,761 | +35.2% |
| Amounts payable | 17/49 | €13,277 | €19,166 | +€5,888 | +44.4% |
| Amounts payable within one year | 42/48 | €13,277 | €19,166 | +€5,888 | +44.4% |
| Trade debts | 44 | €318 | €1,723 | +€1,404 | +441% |
| Suppliers | 440/4 | €318 | €1,723 | +€1,404 | +441% |
| Taxes, remuneration and social security | 45 | €8,472 | €13,534 | +€5,062 | +59.7% |
| Taxes | 450/3 | €8,472 | €13,534 | +€5,062 | +59.7% |
| Other amounts payable | 47/48 | €4,487 | €3,909 | -€577 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,232 | €2,953 | +€721 | +32.3% |
| Other operating charges | 640/8 | €646 | €888 | +€242 | +37.4% |
| Gross operating margin | 9900 | €84,322 | €82,434 | -€1,888 | -2.2% |
| Operating profit (loss) | 9901 | €81,445 | €78,594 | -€2,851 | -3.5% |
| Financial income | 75/76B | €1,243 | €879 | -€364 | -29.3% |
| Recurring financial income | 75 | €1,243 | €879 | -€364 | -29.3% |
| Financial charges | 65/66B | €548 | €368 | -€180 | -32.8% |
| Recurring financial charges | 65 | €548 | €368 | -€180 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | €82,140 | €79,104 | -€3,036 | -3.7% |
| Income taxes | 67/77 | €17,641 | €22,343 | +€4,702 | +26.7% |
| Profit (loss) for the period | 9904 | €64,499 | €56,761 | -€7,738 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,499 | €56,761 | -€7,738 | -12.0% |
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.