DE MAX!: 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.
DE MAX!
Largest movements
- Cash -€27,883
down €27,883 (-37.6%), from €74,068 to €46,185
mainly Receivables within one year (-€23,287) and Net result for the year (-€6,030)
- Receivables within one year +€23,287
up €23,287 (+25.5%), from €91,144 to €114,431
of which Trade receivables: +€23,287
- Profit (loss) carried forward -€6,030
down €6,030 (-25.8%), from -€23,400 to -€29,430
- Contributions +€3,650
up €3,650 (+28.2%), from €12,950 to €16,600
- Provisions -€3,531
down €3,531 (-3.1%), from €112,108 to €108,576
No income-statement line moved by more than 1% of the activity.
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €169,431 | €164,437 | -€4,995 | -2.9% |
| Fixed assets | 21/28 | €952 | €531 | -€421 | -44.2% |
| Tangible fixed assets | 22/27 | €952 | €531 | -€421 | -44.2% |
| Plant, machinery and equipment | 23 | €952 | €531 | -€421 | -44.2% |
| Current assets | 29/58 | €168,479 | €163,905 | -€4,574 | -2.7% |
| Amounts receivable within one year | 40/41 | €91,144 | €114,431 | +€23,287 | +25.5% |
| Trade receivables | 40 | €91,069 | €114,356 | +€23,287 | +25.6% |
| Other amounts receivable | 41 | €75 | €75 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €74,068 | €46,185 | -€27,883 | -37.6% |
| Deferred charges and accrued income | 490/1 | €3,267 | €3,289 | +€22 | +0.7% |
| Total equity and liabilities | 10/49 | €169,431 | €164,437 | -€4,995 | -2.9% |
| Equity | 10/15 | -€10,450 | -€12,830 | -€2,380 | -22.8% |
| Contributions | 10/11 | €12,950 | €16,600 | +€3,650 | +28.2% |
| Profit (loss) carried forward | 14 | -€23,400 | -€29,430 | -€6,030 | -25.8% |
| Provisions and deferred taxes | 16 | €112,108 | €108,576 | -€3,531 | -3.1% |
| Provisions for liabilities and charges | 160/5 | €112,108 | €108,576 | -€3,531 | -3.1% |
| Other liabilities and charges | 164/5 | €112,108 | €108,576 | -€3,531 | -3.1% |
| Amounts payable | 17/49 | €67,774 | €68,691 | +€917 | +1.4% |
| Amounts payable within one year | 42/48 | €67,774 | €68,691 | +€917 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €693 | €1,558 | +€865 | +124.7% |
| Suppliers | 440/4 | €693 | €1,558 | +€865 | +124.7% |
| Taxes, remuneration and social security | 45 | €67,081 | €67,133 | +€52 | +0.1% |
| Taxes | 450/3 | €341 | €699 | +€358 | +105.1% |
| Remuneration and social security | 454/9 | €66,740 | €66,434 | -€306 | -0.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €409,924 | €413,420 | +€3,496 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €672 | €741 | +€68 | +10.2% |
| Gross operating margin | 9900 | €410,983 | €408,724 | -€2,259 | -0.5% |
| Operating profit (loss) | 9901 | €386 | -€5,437 | -€5,823 | |
| Financial income | 75/76B | €2 | €62 | +€60 | +3509.4% |
| Recurring financial income | 75 | €2 | €62 | +€60 | +3509.4% |
| Financial charges | 65/66B | €188 | €202 | +€14 | +7.5% |
| Recurring financial charges | 65 | €188 | €202 | +€14 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €199 | -€5,577 | -€5,777 | |
| Income taxes | 67/77 | €0 | €453 | +€453 | +174103.8% |
| Profit (loss) for the period | 9904 | €199 | -€6,030 | -€6,229 | |
| Profit (loss) for the period to be appropriated | 9905 | €199 | -€6,030 | -€6,229 |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.