Maxime Mathy: 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 Mathy
Largest movements
- Cash +€56,341
up €56,341 (+254%), from €22,219 to €78,560
mainly Net result for the year (+€40,136) and Receivables within one year (+€13,105)
- Receivables within one year -€13,105
down €13,105 (-97.4%), from €13,461 to €356
of which Trade receivables: -€12,997
- Profit (loss) carried forward +€40,136
up €40,136 (+584%), from €6,867 to €47,003
- Tax, wage and social debts +€9,716
up €9,716 (+88.9%), from €10,929 to €20,645
of which Taxes: +€12,646
- Trade debts -€7,071
down €7,071 (-82.1%), from €8,612 to €1,541
- Gross operating margin +€45,703
up €45,703 (+501%), from €9,124 to €54,827
- Taxes +€9,000
up €9,000 (+514%), from €1,750 to €10,750
- Financial charges +€2,228
up €2,228 (+8,569%), from €26 to €2,254
- Depreciation +€1,556
up €1,556 (+1,655%), from €94 to €1,650
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 | €41,408 | €84,189 | +€42,781 | +103% |
| Fixed assets | 21/28 | €5,708 | €5,273 | -€435 | -7.6% |
| Tangible fixed assets | 22/27 | €5,708 | €5,273 | -€435 | -7.6% |
| Furniture and vehicles | 24 | €1,119 | €1,620 | +€501 | +44.8% |
| Other tangible fixed assets | 26 | €4,589 | €3,653 | -€936 | -20.4% |
| Current assets | 29/58 | €35,700 | €78,916 | +€43,216 | +121% |
| Amounts receivable within one year | 40/41 | €13,461 | €356 | -€13,105 | -97.4% |
| Trade receivables | 40 | €12,997 | - | -€12,997 | |
| Other amounts receivable | 41 | €464 | €356 | -€108 | -23.3% |
| Cash at bank and in hand | 54/58 | €22,219 | €78,560 | +€56,341 | +254% |
| Deferred charges and accrued income | 490/1 | €20 | - | -€20 | |
| Total equity and liabilities | 10/49 | €41,408 | €84,189 | +€42,781 | +103% |
| Equity | 10/15 | €21,867 | €62,003 | +€40,136 | +184% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,867 | €47,003 | +€40,136 | +584% |
| Amounts payable | 17/49 | €19,541 | €22,186 | +€2,645 | +13.5% |
| Amounts payable within one year | 42/48 | €19,541 | €22,186 | +€2,645 | +13.5% |
| Trade debts | 44 | €8,612 | €1,541 | -€7,071 | -82.1% |
| Suppliers | 440/4 | €8,612 | €1,541 | -€7,071 | -82.1% |
| Taxes, remuneration and social security | 45 | €10,929 | €20,645 | +€9,716 | +88.9% |
| Taxes | 450/3 | €7,999 | €20,645 | +€12,646 | +158% |
| Remuneration and social security | 454/9 | €2,930 | - | -€2,930 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94 | €1,650 | +€1,556 | +1,655% |
| Other operating charges | 640/8 | €387 | €52 | -€335 | -86.6% |
| Gross operating margin | 9900 | €9,124 | €54,827 | +€45,703 | +501% |
| Operating profit (loss) | 9901 | €8,643 | €53,125 | +€44,482 | +515% |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €26 | €2,254 | +€2,228 | +8,569% |
| Recurring financial charges | 65 | €26 | €2,254 | +€2,228 | +8,569% |
| Profit (loss) for the period before taxes | 9903 | €8,617 | €50,886 | +€42,269 | +491% |
| Income taxes | 67/77 | €1,750 | €10,750 | +€9,000 | +514% |
| Profit (loss) for the period | 9904 | €6,867 | €40,136 | +€33,269 | +484% |
| Profit (loss) for the period to be appropriated | 9905 | €6,867 | €40,136 | +€33,269 | +484% |
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.