MAX MANAGEMENT: 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 MANAGEMENT
Largest movements
- Receivables within one year +€18,772
up €18,772 (+61.1%), from €30,703 to €49,475
of which Trade receivables: +€15,768
- Cash +€6,995
up €6,995 (+133.7%), from €5,232 to €12,227
mainly Other debts (+€29,168) and Deferred charges and accrued income (+€6,636)
- Deferred charges and accrued income -€6,636
down €6,636 (-76.8%), from €8,642 to €2,006
- Other debts +€29,168
up €29,168 (+202.2%), from €14,428 to €43,596
- Trade debts -€8,652
down €8,652 (-73.8%), from €11,721 to €3,069
- Tax, wage and social debts -€1,827
down €1,827 (-22.6%), from €8,092 to €6,265
of which Remuneration and social security: -€1,888
- Gross operating margin -€47,828
down €47,828 (-90.6%), from €52,818 to €4,990
- Staff costs -€36,244
down €36,244 (-90.6%), from €39,999 to €3,755
- Depreciation -€2,500
no longer reported in 2022 (was €2,500)
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,577 | €63,708 | +€19,131 | +42.9% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Current assets | 29/58 | €44,577 | €63,708 | +€19,131 | +42.9% |
| Amounts receivable within one year | 40/41 | €30,703 | €49,475 | +€18,772 | +61.1% |
| Trade receivables | 40 | €27,892 | €43,660 | +€15,768 | +56.5% |
| Other amounts receivable | 41 | €2,811 | €5,815 | +€3,004 | +106.8% |
| Cash at bank and in hand | 54/58 | €5,232 | €12,227 | +€6,995 | +133.7% |
| Deferred charges and accrued income | 490/1 | €8,642 | €2,006 | -€6,636 | -76.8% |
| Total equity and liabilities | 10/49 | €44,577 | €63,708 | +€19,131 | +42.9% |
| Equity | 10/15 | €10,337 | €10,778 | +€441 | +4.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €24,811 | €24,811 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,951 | €22,951 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€20,674 | -€20,233 | +€441 | +2.1% |
| Amounts payable | 17/49 | €34,240 | €52,930 | +€18,690 | +54.6% |
| Amounts payable within one year | 42/48 | €34,240 | €52,930 | +€18,690 | +54.6% |
| Trade debts | 44 | €11,721 | €3,069 | -€8,652 | -73.8% |
| Suppliers | 440/4 | €11,721 | €3,069 | -€8,652 | -73.8% |
| Taxes, remuneration and social security | 45 | €8,092 | €6,265 | -€1,827 | -22.6% |
| Taxes | 450/3 | - | €61 | +€61 | |
| Remuneration and social security | 454/9 | €8,092 | €6,204 | -€1,888 | -23.3% |
| Other amounts payable | 47/48 | €14,428 | €43,596 | +€29,168 | +202.2% |
| Remuneration, social security and pensions | 62 | €39,999 | €3,755 | -€36,244 | -90.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,500 | - | -€2,500 | |
| Other operating charges | 640/8 | €402 | €460 | +€58 | +14.3% |
| Gross operating margin | 9900 | €52,818 | €4,990 | -€47,828 | -90.6% |
| Operating profit (loss) | 9901 | €9,917 | €775 | -€9,142 | -92.2% |
| Financial charges | 65/66B | €803 | €334 | -€469 | -58.4% |
| Recurring financial charges | 65 | €803 | €334 | -€469 | -58.4% |
| Profit (loss) for the period before taxes | 9903 | €9,115 | €441 | -€8,674 | -95.2% |
| Profit (loss) for the period | 9904 | €9,115 | €441 | -€8,674 | -95.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,115 | €441 | -€8,674 | -95.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.