MAXIME PIRON: 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 PIRON
Largest movements
- Receivables within one year +€18,137
up €18,137 (+33.2%), from €54,640 to €72,776
of which Other amounts receivable: +€18,942
- Cash +€8,800
up €8,800 (+144%), from €6,105 to €14,905
mainly Trade debts (+€24,263) and Short-term financial debts (+€4,427)
- Tangible fixed assets -€1,827
down €1,827 (-5.7%), from €32,061 to €30,234
- Trade debts +€24,263
up €24,263 (+326%), from €7,446 to €31,709
- Debts after one year -€5,866
down €5,866 (-12.3%), from €47,565 to €41,699
- Short-term financial debts +€4,427
new in 2025: €4,427
- Profit (loss) carried forward +€3,322
up €3,322 (+27.4%), from €12,118 to €15,440
- Purchases and services +€25,054
up €25,054 (+8.3%), from €300,467 to €325,521
- Turnover +€13,015
up €13,015 (+4.0%), from €322,266 to €335,281
- Gross operating margin -€12,039
down €12,039 (-55.2%), from €21,799 to €9,760
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 | €92,806 | €117,916 | +€25,110 | +27.1% |
| Fixed assets | 21/28 | €32,061 | €30,234 | -€1,827 | -5.7% |
| Tangible fixed assets | 22/27 | €32,061 | €30,234 | -€1,827 | -5.7% |
| Land and buildings | 22 | €30,041 | €29,208 | -€834 | -2.8% |
| Plant, machinery and equipment | 23 | €941 | €627 | -€314 | -33.3% |
| Furniture and vehicles | 24 | €1,079 | €399 | -€680 | -63.0% |
| Current assets | 29/58 | €60,745 | €87,682 | +€26,937 | +44.3% |
| Amounts receivable within one year | 40/41 | €54,640 | €72,776 | +€18,137 | +33.2% |
| Trade receivables | 40 | €52,312 | €51,506 | -€806 | -1.5% |
| Other amounts receivable | 41 | €2,328 | €21,270 | +€18,942 | +814% |
| Cash at bank and in hand | 54/58 | €6,105 | €14,905 | +€8,800 | +144% |
| Total equity and liabilities | 10/49 | €92,806 | €117,916 | +€25,110 | +27.1% |
| Equity | 10/15 | €33,248 | €36,570 | +€3,322 | +10.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €16,130 | €16,130 | = | 0.0% |
| Distributable reserves | 133 | €16,130 | €16,130 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,118 | €15,440 | +€3,322 | +27.4% |
| Amounts payable | 17/49 | €59,558 | €81,346 | +€21,788 | +36.6% |
| Amounts payable after more than one year | 17 | €47,565 | €41,699 | -€5,866 | -12.3% |
| Financial debts | 170/4 | €47,565 | €41,699 | -€5,866 | -12.3% |
| Amounts payable within one year | 42/48 | €11,993 | €39,647 | +€27,654 | +231% |
| Financial debts | 43 | - | €4,427 | +€4,427 | |
| Credit institutions | 430/8 | - | €4,427 | +€4,427 | |
| Trade debts | 44 | €7,446 | €31,709 | +€24,263 | +326% |
| Suppliers | 440/4 | €7,446 | €31,709 | +€24,263 | +326% |
| Taxes, remuneration and social security | 45 | €4,547 | €3,511 | -€1,036 | -22.8% |
| Taxes | 450/3 | €4,547 | €3,511 | -€1,036 | -22.8% |
| Turnover | 70 | €322,266 | €335,281 | +€13,015 | +4.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €300,467 | €325,521 | +€25,054 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,323 | €1,827 | -€1,496 | -45.0% |
| Other operating charges | 640/8 | €1,002 | €802 | -€200 | -19.9% |
| Non-recurring operating charges | 66A | €436 | €63 | -€373 | -85.5% |
| Gross operating margin | 9900 | €21,799 | €9,760 | -€12,039 | -55.2% |
| Operating profit (loss) | 9901 | €17,038 | €7,068 | -€9,971 | -58.5% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €1,562 | €2,630 | +€1,069 | +68.4% |
| Recurring financial charges | 65 | €1,562 | €2,630 | +€1,069 | +68.4% |
| Profit (loss) for the period before taxes | 9903 | €15,482 | €4,437 | -€11,045 | -71.3% |
| Income taxes | 67/77 | €3,396 | €1,115 | -€2,280 | -67.2% |
| Profit (loss) for the period | 9904 | €12,086 | €3,322 | -€8,764 | -72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,086 | €3,322 | -€8,764 | -72.5% |
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 21 October 2026 via checked.be.