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 -€16,223
down €16,223 (-20.7%), from €78,490 to €62,267
mainly Other debts (-€20,250) and Tax, wage and social debts (-€5,684)
- Tangible fixed assets +€2,076
up €2,076 (+45.4%), from €4,574 to €6,649
of which Plant, machinery and equipment: +€2,525
- Receivables within one year +€1,477
up €1,477 (+3,606%), from €41 to €1,518
- Other debts -€20,250
down €20,250 (-99.7%), from €20,307 to €57
- Reserves +€12,207
up €12,207 (+27.8%), from €43,976 to €56,183
- Tax, wage and social debts -€5,684
down €5,684 (-36.8%), from €15,463 to €9,779
of which Taxes: -€6,184
- Trade debts +€2,231
up €2,231 (+70.2%), from €3,176 to €5,407
- Accrued charges and deferred income -€2,000
no longer reported in 2025 (was €2,000)
- Gross operating margin -€3,038
down €3,038 (-12.9%), from €23,613 to €20,575
- Taxes -€1,161
down €1,161 (-20.5%), from €5,669 to €4,508
- Depreciation +€500
up €500 (+53.4%), from €936 to €1,437
- Other operating charges -€319
down €319 (-12.0%), from €2,661 to €2,342
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 | €91,122 | €77,627 | -€13,496 | -14.8% |
| Fixed assets | 21/28 | €7,874 | €9,949 | +€2,076 | +26.4% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €4,574 | €6,649 | +€2,076 | +45.4% |
| Plant, machinery and equipment | 23 | €1,912 | €4,437 | +€2,525 | +132% |
| Furniture and vehicles | 24 | - | €0 | = | |
| Other tangible fixed assets | 26 | €2,662 | €2,212 | -€449 | -16.9% |
| Financial fixed assets | 28 | €3,300 | €3,300 | = | 0.0% |
| Current assets | 29/58 | €83,248 | €67,677 | -€15,571 | -18.7% |
| Stocks and contracts in progress | 3 | €3,586 | €3,586 | = | 0.0% |
| Stocks | 30/36 | €3,586 | €3,586 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €41 | €1,518 | +€1,477 | +3,606% |
| Other amounts receivable | 41 | €41 | €1,518 | +€1,477 | +3,606% |
| Cash at bank and in hand | 54/58 | €78,490 | €62,267 | -€16,223 | -20.7% |
| Deferred charges and accrued income | 490/1 | €1,132 | €306 | -€825 | -72.9% |
| Total equity and liabilities | 10/49 | €91,122 | €77,627 | -€13,496 | -14.8% |
| Equity | 10/15 | €50,176 | €62,383 | +€12,207 | +24.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €43,976 | €56,183 | +€12,207 | +27.8% |
| Distributable reserves | 133 | €43,976 | €56,183 | +€12,207 | +27.8% |
| Amounts payable | 17/49 | €40,946 | €15,243 | -€25,703 | -62.8% |
| Amounts payable within one year | 42/48 | €38,946 | €15,243 | -€23,703 | -60.9% |
| Trade debts | 44 | €3,176 | €5,407 | +€2,231 | +70.2% |
| Suppliers | 440/4 | €3,176 | €5,407 | +€2,231 | +70.2% |
| Taxes, remuneration and social security | 45 | €15,463 | €9,779 | -€5,684 | -36.8% |
| Taxes | 450/3 | €13,588 | €7,404 | -€6,184 | -45.5% |
| Remuneration and social security | 454/9 | €1,875 | €2,375 | +€500 | +26.7% |
| Other amounts payable | 47/48 | €20,307 | €57 | -€20,250 | -99.7% |
| Accrued charges and deferred income | 492/3 | €2,000 | - | -€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €936 | €1,437 | +€500 | +53.4% |
| Other operating charges | 640/8 | €2,661 | €2,342 | -€319 | -12.0% |
| Gross operating margin | 9900 | €23,613 | €20,575 | -€3,038 | -12.9% |
| Operating profit (loss) | 9901 | €20,016 | €16,796 | -€3,220 | -16.1% |
| Financial income | 75/76B | €0 | €1 | +€1 | +2,900% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +2,900% |
| Financial charges | 65/66B | €125 | €82 | -€44 | -34.8% |
| Recurring financial charges | 65 | €125 | €82 | -€44 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | €19,891 | €16,715 | -€3,176 | -16.0% |
| Income taxes | 67/77 | €5,669 | €4,508 | -€1,161 | -20.5% |
| Profit (loss) for the period | 9904 | €14,222 | €12,207 | -€2,014 | -14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,222 | €12,207 | -€2,014 | -14.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.