Red Maples: 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.
Red Maples
Largest movements
- Financial fixed assets +€116,365
up €116,365 (+106%), from €109,435 to €225,800
- Cash -€52,013
down €52,013 (-73.1%), from €71,150 to €19,137
mainly Contributions, distributions and other (-€117,200) and Investment in fixed assets (net) (-€116,365)
- Receivables after one year -€47,483
no longer reported in 2025 (was €47,483)
- Receivables within one year -€28,429
down €28,429 (-55.8%), from €50,938 to €22,508
of which Other amounts receivable: -€21,895
- Reserves -€58,400
down €58,400 (-30.8%), from €189,911 to €131,511
- Debts after one year +€49,934
up €49,934 (+392%), from €12,750 to €62,684
- Tax, wage and social debts -€21,931
down €21,931 (-45.2%), from €48,564 to €26,633
- Other debts +€18,595
up €18,595 (+77.5%), from €24,000 to €42,595
- Gross operating margin -€15,677
down €15,677 (-16.2%), from €96,757 to €81,080
- Financial charges +€5,526
up €5,526 (+4,542%), from €122 to €5,648
- Taxes -€4,670
down €4,670 (-18.7%), from €24,963 to €20,293
- Financial income +€2,271
up €2,271 (+82.1%), from €2,765 to €5,036
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 | €280,000 | €267,477 | -€12,523 | -4.5% |
| Fixed assets | 21/28 | €110,430 | €225,832 | +€115,402 | +105% |
| Tangible fixed assets | 22/27 | €995 | €32 | -€963 | -96.8% |
| Furniture and vehicles | 24 | €995 | €32 | -€963 | -96.8% |
| Financial fixed assets | 28 | €109,435 | €225,800 | +€116,365 | +106% |
| Current assets | 29/58 | €169,570 | €41,645 | -€127,925 | -75.4% |
| Amounts receivable after more than one year | 29 | €47,483 | - | -€47,483 | |
| Other amounts receivable | 291 | €47,483 | - | -€47,483 | |
| Amounts receivable within one year | 40/41 | €50,938 | €22,508 | -€28,429 | -55.8% |
| Trade receivables | 40 | €26,136 | €19,602 | -€6,534 | -25.0% |
| Other amounts receivable | 41 | €24,802 | €2,906 | -€21,895 | -88.3% |
| Cash at bank and in hand | 54/58 | €71,150 | €19,137 | -€52,013 | -73.1% |
| Total equity and liabilities | 10/49 | €280,000 | €267,477 | -€12,523 | -4.5% |
| Equity | 10/15 | €193,911 | €135,524 | -€58,387 | -30.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €189,911 | €131,511 | -€58,400 | -30.8% |
| Distributable reserves | 133 | €189,911 | €131,511 | -€58,400 | -30.8% |
| Profit (loss) carried forward | 14 | - | €13 | +€13 | |
| Amounts payable | 17/49 | €86,089 | €131,953 | +€45,864 | +53.3% |
| Amounts payable after more than one year | 17 | €12,750 | €62,684 | +€49,934 | +392% |
| Other amounts payable | 178/9 | €12,750 | €62,684 | +€49,934 | +392% |
| Amounts payable within one year | 42/48 | €73,339 | €69,269 | -€4,069 | -5.5% |
| Trade debts | 44 | €775 | €41 | -€734 | -94.7% |
| Suppliers | 440/4 | €775 | €41 | -€734 | -94.7% |
| Taxes, remuneration and social security | 45 | €48,564 | €26,633 | -€21,931 | -45.2% |
| Taxes | 450/3 | €48,564 | €26,633 | -€21,931 | -45.2% |
| Other amounts payable | 47/48 | €24,000 | €42,595 | +€18,595 | +77.5% |
| Non-recurring operating income | 76A | - | €100 | +€100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €963 | €963 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €96,757 | €81,080 | -€15,677 | -16.2% |
| Operating profit (loss) | 9901 | €95,407 | €79,717 | -€15,689 | -16.4% |
| Financial income | 75/76B | €2,765 | €5,036 | +€2,271 | +82.1% |
| Recurring financial income | 75 | €2,765 | €5,036 | +€2,271 | +82.1% |
| Financial charges | 65/66B | €122 | €5,648 | +€5,526 | +4,542% |
| Recurring financial charges | 65 | €122 | €5,648 | +€5,526 | +4,542% |
| Profit (loss) for the period before taxes | 9903 | €98,050 | €79,106 | -€18,945 | -19.3% |
| Income taxes | 67/77 | €24,963 | €20,293 | -€4,670 | -18.7% |
| Profit (loss) for the period | 9904 | €73,088 | €58,813 | -€14,275 | -19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €73,088 | €58,813 | -€14,275 | -19.5% |
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 24 October 2026 via checked.be.