Max Di Vin: 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.
Max Di Vin
Largest movements
- Cash +€10,264
up €10,264 (+14.8%), from €69,492 to €79,757
mainly Net result for the year (+€9,449) and Receivables within one year (+€8,334)
- Receivables within one year -€8,334
down €8,334 (-72.7%), from €11,457 to €3,123
of which Trade receivables: -€5,527
- Stocks and contracts +€5,705
up €5,705 (+11.6%), from €49,073 to €54,778
- Reserves +€9,449
up €9,449 (+15.6%), from €60,635 to €70,083
- Other debts -€4,002
down €4,002 (-16.1%), from €24,919 to €20,917
- Trade debts +€2,957
up €2,957 (+13.7%), from €21,551 to €24,507
- Short-term financial debts -€1,679
down €1,679 (-33.4%), from €5,019 to €3,341
- Gross operating margin +€3,716
up €3,716 (+26.6%), from €13,990 to €17,706
- Taxes +€1,172
up €1,172 (+37.8%), from €3,103 to €4,275
- Financial charges +€1,106
up €1,106 (+99.9%), from €1,107 to €2,213
- Depreciation -€829
down €829 (-37.3%), from €2,220 to €1,391
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 | €134,437 | €141,434 | +€6,997 | +5.2% |
| Fixed assets | 21/28 | €2,655 | €2,255 | -€400 | -15.1% |
| Tangible fixed assets | 22/27 | €2,555 | €2,155 | -€400 | -15.7% |
| Furniture and vehicles | 24 | €2,555 | €2,155 | -€400 | -15.7% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €131,782 | €139,179 | +€7,397 | +5.6% |
| Stocks and contracts in progress | 3 | €49,073 | €54,778 | +€5,705 | +11.6% |
| Stocks | 30/36 | €49,073 | €54,778 | +€5,705 | +11.6% |
| Amounts receivable within one year | 40/41 | €11,457 | €3,123 | -€8,334 | -72.7% |
| Trade receivables | 40 | €7,853 | €2,326 | -€5,527 | -70.4% |
| Other amounts receivable | 41 | €3,604 | €797 | -€2,807 | -77.9% |
| Cash at bank and in hand | 54/58 | €69,492 | €79,757 | +€10,264 | +14.8% |
| Deferred charges and accrued income | 490/1 | €1,760 | €1,522 | -€238 | -13.5% |
| Total equity and liabilities | 10/49 | €134,437 | €141,434 | +€6,997 | +5.2% |
| Equity | 10/15 | €78,525 | €87,973 | +€9,449 | +12.0% |
| Contributions | 10/11 | €9,453 | €9,453 | = | 0.0% |
| Reserves | 13 | €60,635 | €70,083 | +€9,449 | +15.6% |
| Distributable reserves | 133 | €60,635 | €70,083 | +€9,449 | +15.6% |
| Profit (loss) carried forward | 14 | €8,437 | €8,437 | = | 0.0% |
| Amounts payable | 17/49 | €55,913 | €53,461 | -€2,452 | -4.4% |
| Amounts payable within one year | 42/48 | €55,708 | €53,461 | -€2,247 | -4.0% |
| Financial debts | 43 | €5,019 | €3,341 | -€1,679 | -33.4% |
| Credit institutions | 430/8 | €5,019 | €3,341 | -€1,679 | -33.4% |
| Trade debts | 44 | €21,551 | €24,507 | +€2,957 | +13.7% |
| Suppliers | 440/4 | €21,551 | €24,507 | +€2,957 | +13.7% |
| Taxes, remuneration and social security | 45 | €4,218 | €4,696 | +€477 | +11.3% |
| Taxes | 450/3 | €4,218 | €4,696 | +€477 | +11.3% |
| Other amounts payable | 47/48 | €24,919 | €20,917 | -€4,002 | -16.1% |
| Accrued charges and deferred income | 492/3 | €205 | - | -€205 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,220 | €1,391 | -€829 | -37.3% |
| Other operating charges | 640/8 | €533 | €394 | -€139 | -26.1% |
| Gross operating margin | 9900 | €13,990 | €17,706 | +€3,716 | +26.6% |
| Operating profit (loss) | 9901 | €11,237 | €15,921 | +€4,684 | +41.7% |
| Financial income | 75/76B | €40 | €15 | -€25 | -61.8% |
| Recurring financial income | 75 | €40 | €15 | -€25 | -61.8% |
| Financial charges | 65/66B | €1,107 | €2,213 | +€1,106 | +99.9% |
| Recurring financial charges | 65 | €1,107 | €2,213 | +€1,106 | +99.9% |
| Profit (loss) for the period before taxes | 9903 | €10,170 | €13,723 | +€3,554 | +34.9% |
| Income taxes | 67/77 | €3,103 | €4,275 | +€1,172 | +37.8% |
| Profit (loss) for the period | 9904 | €7,067 | €9,449 | +€2,382 | +33.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,067 | €9,449 | +€2,382 | +33.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.