MAXIME VAN MAELE: 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 VAN MAELE
Largest movements
- Cash +€96,552
up €96,552 (+205%), from €47,007 to €143,559
mainly Receivables within one year (+€60,311) and Net result for the year (+€44,333)
- Receivables within one year -€60,311
down €60,311 (-92.8%), from €65,014 to €4,703
of which Trade receivables: -€59,564
- Financial fixed assets -€2,090
down €2,090 (-87.4%), from €2,390 to €300
- Other debts +€34,255
up €34,255 (+78.2%), from €43,816 to €78,071
- Reserves -€5,667
down €5,667 (-8.4%), from €67,122 to €61,455
- Tax, wage and social debts +€2,940
up €2,940 (+15.5%), from €18,949 to €21,889
- Trade debts +€1,997
up €1,997 (+101%), from €1,986 to €3,983
- Gross operating margin -€32,219
down €32,219 (-31.9%), from €101,104 to €68,885
- Taxes -€7,165
down €7,165 (-33.5%), from €21,370 to €14,205
- Depreciation -€2,464
down €2,464 (-29.9%), from €8,241 to €5,776
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 | €140,172 | €174,167 | +€33,995 | +24.3% |
| Fixed assets | 21/28 | €25,618 | €21,916 | -€3,703 | -14.5% |
| Intangible fixed assets | 21 | €1,669 | €854 | -€815 | -48.8% |
| Tangible fixed assets | 22/27 | €21,559 | €20,762 | -€798 | -3.7% |
| Plant, machinery and equipment | 23 | - | €1,320 | +€1,320 | |
| Furniture and vehicles | 24 | €2,538 | - | -€2,538 | |
| Other tangible fixed assets | 26 | €19,021 | €19,441 | +€420 | +2.2% |
| Financial fixed assets | 28 | €2,390 | €300 | -€2,090 | -87.4% |
| Current assets | 29/58 | €114,553 | €152,252 | +€37,698 | +32.9% |
| Amounts receivable within one year | 40/41 | €65,014 | €4,703 | -€60,311 | -92.8% |
| Trade receivables | 40 | €61,472 | €1,908 | -€59,564 | -96.9% |
| Other amounts receivable | 41 | €3,542 | €2,795 | -€747 | -21.1% |
| Cash at bank and in hand | 54/58 | €47,007 | €143,559 | +€96,552 | +205% |
| Deferred charges and accrued income | 490/1 | €2,532 | €3,990 | +€1,458 | +57.6% |
| Total equity and liabilities | 10/49 | €140,172 | €174,167 | +€33,995 | +24.3% |
| Equity | 10/15 | €72,122 | €66,455 | -€5,667 | -7.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €67,122 | €61,455 | -€5,667 | -8.4% |
| Distributable reserves | 133 | €67,122 | €61,455 | -€5,667 | -8.4% |
| Amounts payable | 17/49 | €68,050 | €107,713 | +€39,663 | +58.3% |
| Amounts payable within one year | 42/48 | €64,751 | €103,942 | +€39,192 | +60.5% |
| Trade debts | 44 | €1,986 | €3,983 | +€1,997 | +101% |
| Suppliers | 440/4 | €1,986 | €3,983 | +€1,997 | +101% |
| Taxes, remuneration and social security | 45 | €18,949 | €21,889 | +€2,940 | +15.5% |
| Taxes | 450/3 | €18,949 | €21,889 | +€2,940 | +15.5% |
| Other amounts payable | 47/48 | €43,816 | €78,071 | +€34,255 | +78.2% |
| Accrued charges and deferred income | 492/3 | €3,299 | €3,770 | +€471 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,241 | €5,776 | -€2,464 | -29.9% |
| Other operating charges | 640/8 | €1,286 | €1,422 | +€136 | +10.6% |
| Gross operating margin | 9900 | €101,104 | €68,885 | -€32,219 | -31.9% |
| Operating profit (loss) | 9901 | €91,577 | €61,687 | -€29,891 | -32.6% |
| Financial income | 75/76B | €36 | €37 | +€1 | +3.0% |
| Recurring financial income | 75 | €36 | €37 | +€1 | +3.0% |
| Financial charges | 65/66B | €3,121 | €3,185 | +€64 | +2.1% |
| Recurring financial charges | 65 | €3,121 | €3,185 | +€64 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €88,492 | €58,538 | -€29,954 | -33.8% |
| Income taxes | 67/77 | €21,370 | €14,205 | -€7,165 | -33.5% |
| Profit (loss) for the period | 9904 | €67,122 | €44,333 | -€22,789 | -34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €67,122 | €44,333 | -€22,789 | -34.0% |
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 13 October 2026 via checked.be.