Wim Maet: 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.
Wim Maet
Largest movements
- Receivables within one year -€64,712
down €64,712 (-99.0%), from €65,341 to €629
of which Trade receivables: -€38,925
- Cash +€39,544
up €39,544, from €0 to €39,544
mainly Receivables within one year (+€64,712) and Other debts (+€46,336)
- Tangible fixed assets +€6,512
up €6,512 (+10.8%), from €60,095 to €66,607
of which Leasing and similar rights: +€10,331
- Deferred charges and accrued income -€2,665
down €2,665 (-78.9%), from €3,376 to €711
- Reserves -€46,705
down €46,705 (-100%), from €46,705 to €0
- Other debts +€46,336
up €46,336 (+309%), from €15,000 to €61,336
- Profit (loss) carried forward -€20,992
down €20,992, from €0 to -€20,992
- Debts after one year +€10,503
up €10,503 (+39.5%), from €26,596 to €37,099
- Trade debts -€5,389
down €5,389 (-76.8%), from €7,018 to €1,629
- Financial charges +€81,092
up €81,092 (+2,808%), from €2,888 to €83,980
- Gross operating margin -€37,417
down €37,417 (-51.2%), from €73,146 to €35,729
- Taxes -€12,936
down €12,936 (-98.8%), from €13,097 to €162
- Depreciation -€9,770
down €9,770 (-62.9%), from €15,528 to €5,758
- Other operating charges +€3,085
up €3,085 (+137%), from €2,249 to €5,335
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 | €128,811 | €107,491 | -€21,320 | -16.6% |
| Fixed assets | 21/28 | €60,095 | €66,607 | +€6,512 | +10.8% |
| Tangible fixed assets | 22/27 | €60,095 | €66,607 | +€6,512 | +10.8% |
| Plant, machinery and equipment | 23 | €22,277 | €19,123 | -€3,154 | -14.2% |
| Furniture and vehicles | 24 | €1,617 | €951 | -€665 | -41.1% |
| Leasing and similar rights | 25 | €36,201 | €46,532 | +€10,331 | +28.5% |
| Current assets | 29/58 | €68,717 | €40,884 | -€27,832 | -40.5% |
| Amounts receivable within one year | 40/41 | €65,341 | €629 | -€64,712 | -99.0% |
| Trade receivables | 40 | €39,554 | €629 | -€38,925 | -98.4% |
| Other amounts receivable | 41 | €25,787 | €0 | -€25,787 | -100% |
| Cash at bank and in hand | 54/58 | €0 | €39,544 | +€39,544 | |
| Deferred charges and accrued income | 490/1 | €3,376 | €711 | -€2,665 | -78.9% |
| Total equity and liabilities | 10/49 | €128,811 | €107,491 | -€21,320 | -16.6% |
| Equity | 10/15 | €51,705 | -€15,992 | -€67,697 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €46,705 | €0 | -€46,705 | -100% |
| Distributable reserves | 133 | €46,705 | €0 | -€46,705 | -100% |
| Profit (loss) carried forward | 14 | €0 | -€20,992 | -€20,992 | |
| Amounts payable | 17/49 | €77,106 | €123,483 | +€46,377 | +60.1% |
| Amounts payable after more than one year | 17 | €26,596 | €37,099 | +€10,503 | +39.5% |
| Financial debts | 170/4 | €26,596 | €37,099 | +€10,503 | +39.5% |
| Amounts payable within one year | 42/48 | €50,510 | €86,385 | +€35,875 | +71.0% |
| Current portion of amounts payable after more than one year | 42 | €11,408 | €9,136 | -€2,272 | -19.9% |
| Financial debts | 43 | €3,268 | €0 | -€3,268 | -100% |
| Credit institutions | 430/8 | €3,268 | €0 | -€3,268 | -100% |
| Trade debts | 44 | €7,018 | €1,629 | -€5,389 | -76.8% |
| Suppliers | 440/4 | €7,018 | €1,629 | -€5,389 | -76.8% |
| Taxes, remuneration and social security | 45 | €13,816 | €14,284 | +€468 | +3.4% |
| Taxes | 450/3 | €13,816 | €14,284 | +€468 | +3.4% |
| Other amounts payable | 47/48 | €15,000 | €61,336 | +€46,336 | +309% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,528 | €5,758 | -€9,770 | -62.9% |
| Other operating charges | 640/8 | €2,249 | €5,335 | +€3,085 | +137% |
| Non-recurring operating charges | 66A | - | €8,193 | +€8,193 | |
| Gross operating margin | 9900 | €73,146 | €35,729 | -€37,417 | -51.2% |
| Operating profit (loss) | 9901 | €55,369 | €16,444 | -€38,924 | -70.3% |
| Financial charges | 65/66B | €2,888 | €83,980 | +€81,092 | +2,808% |
| Recurring financial charges | 65 | €2,888 | €83,980 | +€81,092 | +2,808% |
| Profit (loss) for the period before taxes | 9903 | €52,481 | -€67,536 | -€120,017 | |
| Income taxes | 67/77 | €13,097 | €162 | -€12,936 | -98.8% |
| Profit (loss) for the period | 9904 | €39,384 | -€67,697 | -€107,081 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,384 | -€67,697 | -€107,081 |
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 28 October 2026 via checked.be.