MAX ET COMPAGNIE: 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 ET COMPAGNIE
Largest movements
- Receivables within one year +€164,835
up €164,835 (+655%), from €25,172 to €190,007
of which Other amounts receivable: +€164,875
- Financial fixed assets +€5,100
new in 2025: €5,100
- Cash +€2,825
up €2,825 (+190%), from €1,486 to €4,311
- Profit (loss) carried forward +€96,008
up €96,008 (+2,097%), from €4,579 to €100,586
- Trade debts +€65,740
up €65,740 (+2,709%), from €2,427 to €68,167
- Tax, wage and social debts +€9,031
up €9,031 (+140%), from €6,471 to €15,502
- Gross operating margin -€26,993
down €26,993, from €24,418 to -€2,575
- Financial income +€10,416
new in 2025: €10,416
- Depreciation -€2,238
down €2,238 (-91.9%), from €2,436 to €198
- Taxes -€1,955
down €1,955 (-49.4%), from €3,955 to €2,000
- Other operating charges -€285
down €285 (-31.7%), from €898 to €613
From the 2021 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2021 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,737 | €200,071 | +€172,335 | +621% |
| Fixed assets | 21/28 | €1,079 | €5,698 | +€4,619 | +428% |
| Tangible fixed assets | 22/27 | €1,079 | €598 | -€481 | -44.6% |
| Plant, machinery and equipment | 23 | - | €598 | +€598 | |
| Furniture and vehicles | 24 | €1,079 | - | -€1,079 | |
| Financial fixed assets | 28 | - | €5,100 | +€5,100 | |
| Current assets | 29/58 | €26,658 | €194,374 | +€167,716 | +629% |
| Amounts receivable within one year | 40/41 | €25,172 | €190,007 | +€164,835 | +655% |
| Trade receivables | 40 | €40 | - | -€40 | |
| Other amounts receivable | 41 | €25,132 | €190,007 | +€164,875 | +656% |
| Current investments | 50/53 | - | €56 | +€56 | |
| Cash at bank and in hand | 54/58 | €1,486 | €4,311 | +€2,825 | +190% |
| Total equity and liabilities | 10/49 | €27,737 | €200,071 | +€172,335 | +621% |
| Equity | 10/15 | €18,839 | €114,846 | +€96,008 | +510% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | - | €12,400 | +€12,400 | |
| Issued capital | 100 | - | €18,600 | +€18,600 | |
| Uncalled capital | 101 | - | €6,200 | +€6,200 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | - | €1,860 | +€1,860 | |
| Other | 1319 | €1,860 | - | -€1,860 | |
| Profit (loss) carried forward | 14 | €4,579 | €100,586 | +€96,008 | +2,097% |
| Amounts payable | 17/49 | €8,898 | €85,225 | +€76,327 | +858% |
| Amounts payable within one year | 42/48 | €8,898 | €83,669 | +€74,771 | +840% |
| Trade debts | 44 | €2,427 | €68,167 | +€65,740 | +2,709% |
| Suppliers | 440/4 | €2,427 | €68,167 | +€65,740 | +2,709% |
| Taxes, remuneration and social security | 45 | €6,471 | €15,502 | +€9,031 | +140% |
| Taxes | 450/3 | €6,471 | €15,502 | +€9,031 | +140% |
| Accrued charges and deferred income | 492/3 | - | €1,556 | +€1,556 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,436 | €198 | -€2,238 | -91.9% |
| Other operating charges | 640/8 | €898 | €613 | -€285 | -31.7% |
| Gross operating margin | 9900 | €24,418 | -€2,575 | -€26,993 | |
| Operating profit (loss) | 9901 | €21,084 | -€3,387 | -€24,470 | |
| Financial income | 75/76B | - | €10,416 | +€10,416 | |
| Recurring financial income | 75 | - | €10,416 | +€10,416 | |
| Financial charges | 65/66B | €217 | €458 | +€241 | +111% |
| Recurring financial charges | 65 | €217 | €458 | +€241 | +111% |
| Profit (loss) for the period before taxes | 9903 | €20,867 | €6,572 | -€14,295 | -68.5% |
| Income taxes | 67/77 | €3,955 | €2,000 | -€1,955 | -49.4% |
| Profit (loss) for the period | 9904 | €16,912 | €4,572 | -€12,340 | -73.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,912 | €4,572 | -€12,340 | -73.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.