MAAX: 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.
MAAX
Largest movements
- Tangible fixed assets -€23,058
down €23,058 (-11.3%), from €203,494 to €180,436
- Profit (loss) carried forward -€25,882
down €25,882 (-51.1%), from -€50,699 to -€76,580
- Other debts +€19,345
up €19,345 (+17.4%), from €111,442 to €130,787
- Debts after one year -€16,023
no longer reported in 2025 (was €16,023)
- Trade debts -€2,951
down €2,951 (-3.9%), from €74,757 to €71,806
- Gross operating margin -€7,323
down €7,323 (-96.7%), from €7,576 to €253
- Turnover -€3,000
down €3,000 (-42.9%), from €7,000 to €4,000
- Depreciation -€1,868
down €1,868 (-7.5%), from €24,925 to €23,058
- Purchases and services +€968
up €968 (+34.8%), from €2,779 to €3,747
- Other operating charges +€93
up €93 (+3.1%), from €2,960 to €3,053
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 | €227,951 | €203,255 | -€24,696 | -10.8% |
| Fixed assets | 21/28 | €203,494 | €180,436 | -€23,058 | -11.3% |
| Tangible fixed assets | 22/27 | €203,494 | €180,436 | -€23,058 | -11.3% |
| Land and buildings | 22 | €203,494 | €180,436 | -€23,058 | -11.3% |
| Current assets | 29/58 | €24,457 | €22,819 | -€1,638 | -6.7% |
| Amounts receivable within one year | 40/41 | €24,347 | €22,767 | -€1,580 | -6.5% |
| Trade receivables | 40 | €24,347 | €22,767 | -€1,580 | -6.5% |
| Cash at bank and in hand | 54/58 | €109 | €51 | -€58 | -53.2% |
| Total equity and liabilities | 10/49 | €227,951 | €203,255 | -€24,696 | -10.8% |
| Equity | 10/15 | €11,301 | -€14,580 | -€25,882 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,699 | -€76,580 | -€25,882 | -51.1% |
| Amounts payable | 17/49 | €216,649 | €217,835 | +€1,186 | +0.5% |
| Amounts payable after more than one year | 17 | €16,023 | - | -€16,023 | |
| Financial debts | 170/4 | €16,023 | - | -€16,023 | |
| Amounts payable within one year | 42/48 | €200,626 | €217,835 | +€17,209 | +8.6% |
| Trade debts | 44 | €74,757 | €71,806 | -€2,951 | -3.9% |
| Suppliers | 440/4 | €74,757 | €71,806 | -€2,951 | -3.9% |
| Taxes, remuneration and social security | 45 | €14,427 | €15,242 | +€815 | +5.7% |
| Taxes | 450/3 | €14,427 | €15,242 | +€815 | +5.7% |
| Other amounts payable | 47/48 | €111,442 | €130,787 | +€19,345 | +17.4% |
| Turnover | 70 | €7,000 | €4,000 | -€3,000 | -42.9% |
| Non-recurring operating income | 76A | €3,355 | - | -€3,355 | |
| Goods, raw materials, services and sundry goods | 60/61 | €2,779 | €3,747 | +€968 | +34.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,925 | €23,058 | -€1,868 | -7.5% |
| Other operating charges | 640/8 | €2,960 | €3,053 | +€93 | +3.1% |
| Gross operating margin | 9900 | €7,576 | €253 | -€7,323 | -96.7% |
| Operating profit (loss) | 9901 | -€20,310 | -€25,858 | -€5,548 | -27.3% |
| Financial charges | 65/66B | €22 | €24 | +€2 | +9.1% |
| Recurring financial charges | 65 | €22 | €24 | +€2 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | -€20,332 | -€25,882 | -€5,550 | -27.3% |
| Profit (loss) for the period | 9904 | -€20,332 | -€25,882 | -€5,550 | -27.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,332 | -€25,882 | -€5,550 | -27.3% |
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 2 October 2026 via checked.be.