MAXIME VANDERSTRAETEN: 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 VANDERSTRAETEN
Largest movements
- Current investments +€104,266
up €104,266 (+37.2%), from €280,000 to €384,266
- Cash -€33,234
down €33,234 (-51.4%), from €64,694 to €31,460
mainly Contributions, distributions and other (-€125,000) and Current investments (-€104,266)
- Intangible fixed assets -€13,800
down €13,800 (-19.0%), from €72,469 to €58,669
- Other debts +€57,864
up €57,864 (+55.9%), from €103,474 to €161,339
- Gross operating margin -€61,170
down €61,170 (-22.9%), from €267,568 to €206,398
- Taxes -€6,358
down €6,358 (-8.6%), from €73,850 to €67,492
- Financial income +€2,890
up €2,890 (+789%), from €366 to €3,256
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 | €426,555 | €480,900 | +€54,346 | +12.7% |
| Fixed assets | 21/28 | €76,944 | €61,979 | -€14,965 | -19.4% |
| Intangible fixed assets | 21 | €72,469 | €58,669 | -€13,800 | -19.0% |
| Tangible fixed assets | 22/27 | €4,475 | €3,310 | -€1,165 | -26.0% |
| Furniture and vehicles | 24 | €4,475 | €3,310 | -€1,165 | -26.0% |
| Current assets | 29/58 | €349,610 | €418,921 | +€69,311 | +19.8% |
| Amounts receivable within one year | 40/41 | €4,634 | - | -€4,634 | |
| Trade receivables | 40 | €4,590 | - | -€4,590 | |
| Other amounts receivable | 41 | €44 | - | -€44 | |
| Current investments | 50/53 | €280,000 | €384,266 | +€104,266 | +37.2% |
| Cash at bank and in hand | 54/58 | €64,694 | €31,460 | -€33,234 | -51.4% |
| Deferred charges and accrued income | 490/1 | €282 | €3,195 | +€2,913 | +1,033% |
| Total equity and liabilities | 10/49 | €426,555 | €480,900 | +€54,346 | +12.7% |
| Equity | 10/15 | €272,373 | €272,868 | +€496 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €253,200 | €253,200 | = | 0.0% |
| Distributable reserves | 133 | €253,200 | €253,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €573 | €1,068 | +€496 | +86.5% |
| Amounts payable | 17/49 | €154,182 | €208,032 | +€53,850 | +34.9% |
| Amounts payable within one year | 42/48 | €154,182 | €208,032 | +€53,850 | +34.9% |
| Trade debts | 44 | €5,651 | €2,032 | -€3,620 | -64.1% |
| Suppliers | 440/4 | €5,651 | €2,032 | -€3,620 | -64.1% |
| Taxes, remuneration and social security | 45 | €45,056 | €44,661 | -€395 | -0.9% |
| Taxes | 450/3 | €45,056 | €44,661 | -€395 | -0.9% |
| Other amounts payable | 47/48 | €103,474 | €161,339 | +€57,864 | +55.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,601 | €14,965 | +€364 | +2.5% |
| Other operating charges | 640/8 | €547 | €954 | +€408 | +74.5% |
| Gross operating margin | 9900 | €267,568 | €206,398 | -€61,170 | -22.9% |
| Operating profit (loss) | 9901 | €252,420 | €190,479 | -€61,941 | -24.5% |
| Financial income | 75/76B | €366 | €3,256 | +€2,890 | +789% |
| Recurring financial income | 75 | €366 | €3,256 | +€2,890 | +789% |
| Financial charges | 65/66B | - | €747 | +€747 | |
| Recurring financial charges | 65 | - | €747 | +€747 | |
| Profit (loss) for the period before taxes | 9903 | €252,786 | €192,988 | -€59,798 | -23.7% |
| Income taxes | 67/77 | €73,850 | €67,492 | -€6,358 | -8.6% |
| Profit (loss) for the period | 9904 | €178,936 | €125,496 | -€53,440 | -29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €178,936 | €125,496 | -€53,440 | -29.9% |
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.