BE MAX: what changed
Two fiscal 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.
BE MAX
Largest movements
- Tangible fixed assets +€38,532
up €38,532 (+11545.2%), from €334 to €38,866
of which Furniture and vehicles: +€35,784
- Receivables within one year +€32,901
up €32,901, from €0 to €32,901
- Intangible fixed assets -€23,000
down €23,000 (-25.0%), from €92,000 to €69,000
- Cash -€8,919
down €8,919 (-11.6%), from €76,978 to €68,058
mainly Contributions, distributions and other (-€68,444) and Investment in fixed assets (net) (-€41,051)
- Other debts +€17,073
up €17,073 (+17.9%), from €95,116 to €112,188
- Debts after one year +€12,810
up €12,810 (+34.8%), from €36,799 to €49,609
- Current portion of long-term debt +€11,326
up €11,326 (+113.4%), from €9,986 to €21,312
- Tax, wage and social debts -€4,480
down €4,480 (-17.5%), from €25,659 to €21,179
- Trade debts +€2,183
up €2,183 (+242.1%), from €902 to €3,085
- Gross operating margin +€30,359
up €30,359 (+25.9%), from €117,276 to €147,634
- Financial charges +€9,643
up €9,643 (+55.7%), from €17,300 to €26,943
- Taxes +€5,286
up €5,286 (+25.0%), from €21,175 to €26,461
- Depreciation +€2,335
up €2,335 (+10.1%), from €23,183 to €25,519
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.
Cash bridge derived
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 | €170,462 | €209,621 | +€39,159 | +23.0% |
| Fixed assets | 21/28 | €92,334 | €107,866 | +€15,532 | +16.8% |
| Intangible fixed assets | 21 | €92,000 | €69,000 | -€23,000 | -25.0% |
| Tangible fixed assets | 22/27 | €334 | €38,866 | +€38,532 | +11545.2% |
| Furniture and vehicles | 24 | €334 | €36,118 | +€35,784 | +10721.9% |
| Other tangible fixed assets | 26 | - | €2,748 | +€2,748 | |
| Current assets | 29/58 | €78,128 | €101,755 | +€23,627 | +30.2% |
| Amounts receivable within one year | 40/41 | €0 | €32,901 | +€32,901 | |
| Trade receivables | 40 | €0 | €32,901 | +€32,901 | |
| Cash at bank and in hand | 54/58 | €76,978 | €68,058 | -€8,919 | -11.6% |
| Deferred charges and accrued income | 490/1 | €1,150 | €795 | -€355 | -30.9% |
| Total equity and liabilities | 10/49 | €170,462 | €209,621 | +€39,159 | +23.0% |
| Equity | 10/15 | €2,000 | €2,000 | = | 0.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €168,462 | €207,621 | +€39,159 | +23.2% |
| Amounts payable after more than one year | 17 | €36,799 | €49,609 | +€12,810 | +34.8% |
| Financial debts | 170/4 | €36,799 | €49,609 | +€12,810 | +34.8% |
| Amounts payable within one year | 42/48 | €131,663 | €157,764 | +€26,101 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €9,986 | €21,312 | +€11,326 | +113.4% |
| Trade debts | 44 | €902 | €3,085 | +€2,183 | +242.1% |
| Suppliers | 440/4 | €902 | €3,085 | +€2,183 | +242.1% |
| Taxes, remuneration and social security | 45 | €25,659 | €21,179 | -€4,480 | -17.5% |
| Taxes | 450/3 | €25,659 | €21,179 | -€4,480 | -17.5% |
| Other amounts payable | 47/48 | €95,116 | €112,188 | +€17,073 | +17.9% |
| Accrued charges and deferred income | 492/3 | - | €248 | +€248 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,183 | €25,519 | +€2,335 | +10.1% |
| Other operating charges | 640/8 | €620 | €465 | -€154 | -24.9% |
| Gross operating margin | 9900 | €117,276 | €147,634 | +€30,359 | +25.9% |
| Operating profit (loss) | 9901 | €93,473 | €121,650 | +€28,178 | +30.1% |
| Financial income | 75/76B | €3 | €198 | +€195 | +7262.1% |
| Recurring financial income | 75 | €3 | €198 | +€195 | +7262.1% |
| Financial charges | 65/66B | €17,300 | €26,943 | +€9,643 | +55.7% |
| Recurring financial charges | 65 | €17,300 | €26,943 | +€9,643 | +55.7% |
| Profit (loss) for the period before taxes | 9903 | €76,175 | €94,905 | +€18,730 | +24.6% |
| Income taxes | 67/77 | €21,175 | €26,461 | +€5,286 | +25.0% |
| Profit (loss) for the period | 9904 | €55,000 | €68,444 | +€13,443 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,000 | €68,444 | +€13,443 | +24.4% |
Source: filed annual accounts (NBB), fiscal 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 September 2026 via checked.be.