MAX CONSULTING: 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.
MAX CONSULTING
Largest movements
- Tangible fixed assets -€35,585
down €35,585 (-15.2%), from €234,475 to €198,889
of which Furniture and vehicles: -€18,442
- Current investments +€27,623
up €27,623 (+1.6%), from €1.7m to €1.8m
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€22,733
down €22,733 (-26.1%), from €87,069 to €64,336
- Gross operating margin +€5,643
up €5,643 (+11.9%), from €47,508 to €53,151
- Taxes +€4,361
up €4,361 (+28.9%), from €15,104 to €19,464
- Financial charges -€3,727
down €3,727 (-26.4%), from €14,138 to €10,411
- Depreciation +€3,227
up €3,227 (+10.3%), from €31,464 to €34,691
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 | €2,399,695 | €2,364,757 | -€34,938 | -1.5% |
| Fixed assets | 21/28 | €403,913 | €368,328 | -€35,585 | -8.8% |
| Tangible fixed assets | 22/27 | €234,475 | €198,889 | -€35,585 | -15.2% |
| Land and buildings | 22 | €166,276 | €149,132 | -€17,144 | -10.3% |
| Furniture and vehicles | 24 | €68,199 | €49,757 | -€18,442 | -27.0% |
| Financial fixed assets | 28 | €169,439 | €169,439 | = | 0.0% |
| Current assets | 29/58 | €1,995,781 | €1,996,429 | +€648 | 0.0% |
| Amounts receivable within one year | 40/41 | €206,829 | €186,477 | -€20,352 | -9.8% |
| Trade receivables | 40 | €19,604 | €8,403 | -€11,201 | -57.1% |
| Other amounts receivable | 41 | €187,225 | €178,074 | -€9,151 | -4.9% |
| Current investments | 50/53 | €1,748,762 | €1,776,385 | +€27,623 | +1.6% |
| Cash at bank and in hand | 54/58 | €33,870 | €27,085 | -€6,785 | -20.0% |
| Deferred charges and accrued income | 490/1 | €6,320 | €6,482 | +€161 | +2.6% |
| Total equity and liabilities | 10/49 | €2,399,695 | €2,364,757 | -€34,938 | -1.5% |
| Equity | 10/15 | €2,228,381 | €2,213,460 | -€14,921 | -0.7% |
| Contributions | 10/11 | €55,000 | €55,000 | = | 0.0% |
| Reserves | 13 | €2,173,381 | €2,158,460 | -€14,921 | -0.7% |
| Distributable reserves | 133 | €2,173,381 | €2,158,460 | -€14,921 | -0.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €171,314 | €151,297 | -€20,017 | -11.7% |
| Amounts payable after more than one year | 17 | €35,233 | €26,028 | -€9,205 | -26.1% |
| Financial debts | 170/4 | €35,233 | €26,028 | -€9,205 | -26.1% |
| Amounts payable within one year | 42/48 | €124,934 | €115,940 | -€8,994 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €8,756 | €9,205 | +€450 | +5.1% |
| Trade debts | 44 | €12,985 | €6,674 | -€6,312 | -48.6% |
| Suppliers | 440/4 | €12,985 | €6,674 | -€6,312 | -48.6% |
| Taxes, remuneration and social security | 45 | €13,174 | €8,199 | -€4,975 | -37.8% |
| Taxes | 450/3 | €13,174 | €8,199 | -€4,975 | -37.8% |
| Other amounts payable | 47/48 | €90,019 | €91,862 | +€1,843 | +2.0% |
| Accrued charges and deferred income | 492/3 | €11,147 | €9,330 | -€1,817 | -16.3% |
| Non-recurring operating income | 76A | - | €3,348 | +€3,348 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,464 | €34,691 | +€3,227 | +10.3% |
| Other operating charges | 640/8 | €8,271 | €7,827 | -€443 | -5.4% |
| Gross operating margin | 9900 | €47,508 | €53,151 | +€5,643 | +11.9% |
| Operating profit (loss) | 9901 | €7,773 | €10,633 | +€2,860 | +36.8% |
| Financial income | 75/76B | €87,069 | €64,336 | -€22,733 | -26.1% |
| Recurring financial income | 75 | €87,069 | €64,336 | -€22,733 | -26.1% |
| Financial charges | 65/66B | €14,138 | €10,411 | -€3,727 | -26.4% |
| Recurring financial charges | 65 | €14,138 | €10,411 | -€3,727 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | €80,704 | €64,558 | -€16,146 | -20.0% |
| Income taxes | 67/77 | €15,104 | €19,464 | +€4,361 | +28.9% |
| Profit (loss) for the period | 9904 | €65,601 | €45,094 | -€20,507 | -31.3% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €65,601 | €45,094 | -€20,507 | -31.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.