MAKSCO: 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.
MAKSCO
Largest movements
- Current investments +€60,000
up €60,000 (+102.1%), from €58,765 to €118,765
- Cash +€53,376
up €53,376 (+198.2%), from €26,925 to €80,301
mainly Net result for the year (+€123,989) and Debts after one year (+€28,975)
- Tangible fixed assets +€50,709
up €50,709 (+248.8%), from €20,385 to €71,094
of which Furniture and vehicles: +€53,568
- Receivables within one year +€5,163
up €5,163 (+23.0%), from €22,470 to €27,634
of which Trade receivables: +€8,131
- Reserves +€95,239
up €95,239 (+99.3%), from €95,949 to €191,188
- Debts after one year +€28,975
new in 2025: €28,975
- Current portion of long-term debt +€19,758
new in 2025: €19,758
- Tax, wage and social debts +€12,573
up €12,573 (+115.4%), from €10,899 to €23,473
of which Taxes: +€16,195
- Other debts +€11,000
up €11,000 (+62.0%), from €17,750 to €28,750
- Gross operating margin +€103,287
up €103,287 (+143.7%), from €71,892 to €175,179
- Taxes +€14,903
up €14,903 (+78.7%), from €18,928 to €33,831
- Depreciation +€12,156
up €12,156 (+353.9%), from €3,435 to €15,591
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 | €129,897 | €299,434 | +€169,537 | +130.5% |
| Fixed assets | 21/28 | €20,385 | €71,094 | +€50,709 | +248.8% |
| Tangible fixed assets | 22/27 | €20,385 | €71,094 | +€50,709 | +248.8% |
| Land and buildings | 22 | €8,901 | €7,461 | -€1,440 | -16.2% |
| Furniture and vehicles | 24 | €8,040 | €61,607 | +€53,568 | +666.3% |
| Other tangible fixed assets | 26 | €3,444 | €2,026 | -€1,418 | -41.2% |
| Current assets | 29/58 | €109,512 | €228,340 | +€118,828 | +108.5% |
| Amounts receivable within one year | 40/41 | €22,470 | €27,634 | +€5,163 | +23.0% |
| Trade receivables | 40 | €13,398 | €21,529 | +€8,131 | +60.7% |
| Other amounts receivable | 41 | €9,072 | €6,105 | -€2,967 | -32.7% |
| Current investments | 50/53 | €58,765 | €118,765 | +€60,000 | +102.1% |
| Cash at bank and in hand | 54/58 | €26,925 | €80,301 | +€53,376 | +198.2% |
| Deferred charges and accrued income | 490/1 | €1,352 | €1,640 | +€288 | +21.3% |
| Total equity and liabilities | 10/49 | €129,897 | €299,434 | +€169,537 | +130.5% |
| Equity | 10/15 | €100,949 | €196,188 | +€95,239 | +94.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €95,949 | €191,188 | +€95,239 | +99.3% |
| Distributable reserves | 133 | €95,949 | €191,188 | +€95,239 | +99.3% |
| Amounts payable | 17/49 | €28,948 | €103,246 | +€74,297 | +256.7% |
| Amounts payable after more than one year | 17 | - | €28,975 | +€28,975 | |
| Financial debts | 170/4 | - | €28,975 | +€28,975 | |
| Amounts payable within one year | 42/48 | €28,931 | €74,254 | +€45,322 | +156.7% |
| Current portion of amounts payable after more than one year | 42 | - | €19,758 | +€19,758 | |
| Trade debts | 44 | €282 | €2,273 | +€1,991 | +704.9% |
| Suppliers | 440/4 | €282 | €2,273 | +€1,991 | +704.9% |
| Taxes, remuneration and social security | 45 | €10,899 | €23,473 | +€12,573 | +115.4% |
| Taxes | 450/3 | €7,278 | €23,473 | +€16,195 | +222.5% |
| Remuneration and social security | 454/9 | €3,621 | - | -€3,621 | |
| Other amounts payable | 47/48 | €17,750 | €28,750 | +€11,000 | +62.0% |
| Accrued charges and deferred income | 492/3 | €17 | €17 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,435 | €15,591 | +€12,156 | +353.9% |
| Other operating charges | 640/8 | €1,100 | €619 | -€480 | -43.7% |
| Gross operating margin | 9900 | €71,892 | €175,179 | +€103,287 | +143.7% |
| Operating profit (loss) | 9901 | €67,358 | €158,969 | +€91,612 | +136.0% |
| Financial income | 75/76B | €41 | €38 | -€3 | -7.1% |
| Recurring financial income | 75 | €41 | €38 | -€3 | -7.1% |
| Financial charges | 65/66B | €1,424 | €1,186 | -€238 | -16.7% |
| Recurring financial charges | 65 | €1,424 | €1,186 | -€238 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €65,974 | €157,821 | +€91,846 | +139.2% |
| Income taxes | 67/77 | €18,928 | €33,831 | +€14,903 | +78.7% |
| Profit (loss) for the period | 9904 | €47,046 | €123,989 | +€76,943 | +163.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,046 | €123,989 | +€76,943 | +163.5% |
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 5 October 2026 via checked.be.