MAX MEAT: 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 MEAT
Largest movements
- Cash +€450,961
up €450,961 (+138.8%), from €324,988 to €775,949
mainly Stocks and contracts (+€278,960) and Net result for the year (+€238,281)
- Stocks and contracts -€278,960
down €278,960 (-33.7%), from €826,969 to €548,009
- Tangible fixed assets -€35,354
down €35,354 (-34.3%), from €103,005 to €67,651
of which Furniture and vehicles: -€27,320
- Receivables within one year +€34,797
up €34,797 (+17.0%), from €205,062 to €239,858
of which Trade receivables: +€26,696
- Reserves +€238,281
up €238,281 (+20.3%), from €1.2m to €1.4m
of which Distributable reserves: +€238,281
- Trade debts -€41,965
down €41,965 (-30.0%), from €139,777 to €97,811
No income-statement line moved by more than 1% of the activity.
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 | €1,462,847 | €1,644,971 | +€182,124 | +12.4% |
| Fixed assets | 21/28 | €103,140 | €67,786 | -€35,354 | -34.3% |
| Tangible fixed assets | 22/27 | €103,005 | €67,651 | -€35,354 | -34.3% |
| Land and buildings | 22 | €11,942 | €5,005 | -€6,936 | -58.1% |
| Plant, machinery and equipment | 23 | €7,833 | €6,736 | -€1,097 | -14.0% |
| Furniture and vehicles | 24 | €83,230 | €55,910 | -€27,320 | -32.8% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €1,359,706 | €1,577,184 | +€217,478 | +16.0% |
| Stocks and contracts in progress | 3 | €826,969 | €548,009 | -€278,960 | -33.7% |
| Stocks | 30/36 | €826,969 | €548,009 | -€278,960 | -33.7% |
| Amounts receivable within one year | 40/41 | €205,062 | €239,858 | +€34,797 | +17.0% |
| Trade receivables | 40 | €196,222 | €222,918 | +€26,696 | +13.6% |
| Other amounts receivable | 41 | €8,840 | €16,941 | +€8,101 | +91.6% |
| Cash at bank and in hand | 54/58 | €324,988 | €775,949 | +€450,961 | +138.8% |
| Deferred charges and accrued income | 490/1 | €2,688 | €13,369 | +€10,681 | +397.3% |
| Total equity and liabilities | 10/49 | €1,462,847 | €1,644,971 | +€182,124 | +12.4% |
| Equity | 10/15 | €1,234,135 | €1,472,416 | +€238,281 | +19.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,172,635 | €1,410,916 | +€238,281 | +20.3% |
| Non-distributable reserves | 130/1 | €63,504 | €63,504 | = | 0.0% |
| Legal reserve | 130 | €63,504 | €63,504 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €1,103,131 | €1,341,412 | +€238,281 | +21.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €228,712 | €172,555 | -€56,157 | -24.6% |
| Amounts payable within one year | 42/48 | €228,628 | €172,555 | -€56,073 | -24.5% |
| Trade debts | 44 | €139,777 | €97,811 | -€41,965 | -30.0% |
| Suppliers | 440/4 | €139,777 | €97,811 | -€41,965 | -30.0% |
| Taxes, remuneration and social security | 45 | €82,240 | €68,088 | -€14,152 | -17.2% |
| Taxes | 450/3 | €82,240 | €68,088 | -€14,152 | -17.2% |
| Other amounts payable | 47/48 | €6,611 | €6,655 | +€44 | +0.7% |
| Accrued charges and deferred income | 492/3 | €84 | €0 | -€84 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,354 | €35,354 | -€0 | 0.0% |
| Other operating charges | 640/8 | €6,877 | €6,538 | -€339 | -4.9% |
| Gross operating margin | 9900 | €385,919 | €383,475 | -€2,444 | -0.6% |
| Operating profit (loss) | 9901 | €343,688 | €341,583 | -€2,105 | -0.6% |
| Financial income | 75/76B | €534 | €3,396 | +€2,862 | +535.5% |
| Recurring financial income | 75 | €534 | €3,396 | +€2,862 | +535.5% |
| Financial charges | 65/66B | €1,043 | €476 | -€568 | -54.4% |
| Recurring financial charges | 65 | €1,043 | €476 | -€568 | -54.4% |
| Profit (loss) for the period before taxes | 9903 | €343,179 | €344,504 | +€1,325 | +0.4% |
| Income taxes | 67/77 | €105,654 | €106,223 | +€569 | +0.5% |
| Profit (loss) for the period | 9904 | €237,525 | €238,281 | +€756 | +0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €237,525 | €238,281 | +€756 | +0.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.