MAX MARKT: 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 MARKT
Largest movements
- Receivables within one year +€331,673
up €331,673 (+3904.2%), from €8,495 to €340,168
- Cash -€97,916
down €97,916 (-40.0%), from €244,926 to €147,010
mainly Receivables within one year (-€331,673) and Investment in fixed assets (net) (-€142,424)
- Tangible fixed assets +€53,191
up €53,191 (+9.7%), from €548,515 to €601,706
of which Plant, machinery and equipment: +€47,132
- Trade debts +€209,401
up €209,401 (+120.4%), from €173,991 to €383,392
- Profit (loss) carried forward +€85,161
up €85,161 (+20.5%), from €415,351 to €500,511
- Other debts +€50,846
up €50,846 (+55.5%), from €91,586 to €142,431
- Tax, wage and social debts -€43,000
down €43,000 (-19.4%), from €221,272 to €178,272
of which Remuneration and social security: -€30,741
- Staff costs -€170,773
down €170,773 (-11.8%), from €1.5m to €1.3m
- Gross operating margin -€134,213
down €134,213 (-8.1%), from €1.7m to €1.5m
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €933,563 | €1,228,158 | +€294,595 | +31.6% |
| Fixed assets | 21/28 | €553,989 | €607,180 | +€53,191 | +9.6% |
| Tangible fixed assets | 22/27 | €548,515 | €601,706 | +€53,191 | +9.7% |
| Land and buildings | 22 | €412,990 | €426,491 | +€13,501 | +3.3% |
| Plant, machinery and equipment | 23 | €98,813 | €145,945 | +€47,132 | +47.7% |
| Furniture and vehicles | 24 | €36,712 | €29,270 | -€7,443 | -20.3% |
| Financial fixed assets | 28 | €5,474 | €5,474 | = | 0.0% |
| Current assets | 29/58 | €379,574 | €620,979 | +€241,405 | +63.6% |
| Stocks and contracts in progress | 3 | €126,152 | €133,800 | +€7,648 | +6.1% |
| Stocks | 30/36 | €126,152 | €133,800 | +€7,648 | +6.1% |
| Amounts receivable within one year | 40/41 | €8,495 | €340,168 | +€331,673 | +3904.2% |
| Other amounts receivable | 41 | €8,495 | €340,168 | +€331,673 | +3904.2% |
| Cash at bank and in hand | 54/58 | €244,926 | €147,010 | -€97,916 | -40.0% |
| Total equity and liabilities | 10/49 | €933,563 | €1,228,158 | +€294,595 | +31.6% |
| Equity | 10/15 | €438,902 | €524,063 | +€85,161 | +19.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,952 | €4,952 | = | 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 | €3,092 | €3,092 | = | 0.0% |
| Profit (loss) carried forward | 14 | €415,351 | €500,511 | +€85,161 | +20.5% |
| Amounts payable | 17/49 | €494,660 | €704,095 | +€209,435 | +42.3% |
| Amounts payable within one year | 42/48 | €494,660 | €704,095 | +€209,435 | +42.3% |
| Financial debts | 43 | €7,812 | - | -€7,812 | |
| Credit institutions | 430/8 | €7,812 | - | -€7,812 | |
| Trade debts | 44 | €173,991 | €383,392 | +€209,401 | +120.4% |
| Suppliers | 440/4 | €173,991 | €383,392 | +€209,401 | +120.4% |
| Taxes, remuneration and social security | 45 | €221,272 | €178,272 | -€43,000 | -19.4% |
| Taxes | 450/3 | €32,761 | €20,501 | -€12,259 | -37.4% |
| Remuneration and social security | 454/9 | €188,512 | €157,771 | -€30,741 | -16.3% |
| Other amounts payable | 47/48 | €91,586 | €142,431 | +€50,846 | +55.5% |
| Non-recurring operating income | 76A | €6,917 | - | -€6,917 | |
| Remuneration, social security and pensions | 62 | €1,451,525 | €1,280,752 | -€170,773 | -11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,867 | €89,234 | +€8,367 | +10.3% |
| Other operating charges | 640/8 | €29,490 | €32,098 | +€2,608 | +8.8% |
| Gross operating margin | 9900 | €1,665,012 | €1,530,798 | -€134,213 | -8.1% |
| Operating profit (loss) | 9901 | €103,130 | €128,714 | +€25,584 | +24.8% |
| Financial income | 75/76B | €225 | €227 | +€1 | +0.5% |
| Recurring financial income | 75 | €225 | €227 | +€1 | +0.5% |
| Financial charges | 65/66B | €7,435 | €14,983 | +€7,548 | +101.5% |
| Recurring financial charges | 65 | €7,435 | €14,983 | +€7,548 | +101.5% |
| Profit (loss) for the period before taxes | 9903 | €95,921 | €113,958 | +€18,037 | +18.8% |
| Income taxes | 67/77 | €23,696 | €28,797 | +€5,101 | +21.5% |
| Profit (loss) for the period | 9904 | €72,224 | €85,161 | +€12,937 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €72,224 | €85,161 | +€12,937 | +17.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.