MAX PRO: 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 PRO
Largest movements
- Tangible fixed assets +€31,914
up €31,914 (+1287.2%), from €2,479 to €34,393
of which Furniture and vehicles: +€29,818
- Cash -€19,738
down €19,738 (-88.4%), from €22,341 to €2,602
mainly Investment in fixed assets (net) (-€37,549) and Net result for the year (-€32,319)
- Receivables within one year -€15,567
down €15,567 (-17.2%), from €90,275 to €74,707
of which Trade receivables: -€18,694
- Stocks and contracts +€4,691
new in 2025: €4,691
- Profit (loss) carried forward -€32,319
down €32,319 (-53.1%), from €60,886 to €28,567
- Debts after one year +€25,509
new in 2025: €25,509
- Current portion of long-term debt +€6,247
new in 2025: €6,247
- Trade debts +€3,313
up €3,313 (+11.0%), from €30,112 to €33,425
- Gross operating margin -€43,371
down €43,371, from €27,734 to -€15,637
- Taxes +€5,173
new in 2025: €5,173
- Depreciation +€4,846
up €4,846 (+613.9%), from €789 to €5,635
- Staff costs +€4,062
new in 2025: €4,062
- Financial charges +€1,452
up €1,452 (+646.6%), from €225 to €1,677
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 | €117,839 | €119,458 | +€1,619 | +1.4% |
| Fixed assets | 21/28 | €2,479 | €34,393 | +€31,914 | +1287.2% |
| Tangible fixed assets | 22/27 | €2,479 | €34,393 | +€31,914 | +1287.2% |
| Plant, machinery and equipment | 23 | €1,343 | €3,439 | +€2,096 | +156.1% |
| Furniture and vehicles | 24 | €1,136 | €30,954 | +€29,818 | +2624.3% |
| Current assets | 29/58 | €115,360 | €85,065 | -€30,294 | -26.3% |
| Stocks and contracts in progress | 3 | - | €4,691 | +€4,691 | |
| Stocks | 30/36 | - | €4,691 | +€4,691 | |
| Amounts receivable within one year | 40/41 | €90,275 | €74,707 | -€15,567 | -17.2% |
| Trade receivables | 40 | €23,328 | €4,634 | -€18,694 | -80.1% |
| Other amounts receivable | 41 | €66,947 | €70,073 | +€3,126 | +4.7% |
| Cash at bank and in hand | 54/58 | €22,341 | €2,602 | -€19,738 | -88.4% |
| Deferred charges and accrued income | 490/1 | €2,744 | €3,064 | +€320 | +11.6% |
| Total equity and liabilities | 10/49 | €117,839 | €119,458 | +€1,619 | +1.4% |
| Equity | 10/15 | €86,596 | €54,277 | -€32,319 | -37.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €19,510 | €19,510 | = | 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 | €17,650 | €17,650 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,886 | €28,567 | -€32,319 | -53.1% |
| Amounts payable | 17/49 | €31,243 | €65,181 | +€33,938 | +108.6% |
| Amounts payable after more than one year | 17 | - | €25,509 | +€25,509 | |
| Financial debts | 170/4 | - | €25,509 | +€25,509 | |
| Amounts payable within one year | 42/48 | €31,243 | €39,672 | +€8,429 | +27.0% |
| Current portion of amounts payable after more than one year | 42 | - | €6,247 | +€6,247 | |
| Trade debts | 44 | €30,112 | €33,425 | +€3,313 | +11.0% |
| Suppliers | 440/4 | €30,112 | €33,425 | +€3,313 | +11.0% |
| Taxes, remuneration and social security | 45 | €1,131 | - | -€1,131 | |
| Taxes | 450/3 | €1,131 | - | -€1,131 | |
| Remuneration, social security and pensions | 62 | - | €4,062 | +€4,062 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €789 | €5,635 | +€4,846 | +613.9% |
| Other operating charges | 640/8 | €771 | €135 | -€636 | -82.5% |
| Gross operating margin | 9900 | €27,734 | -€15,637 | -€43,371 | |
| Operating profit (loss) | 9901 | €26,174 | -€25,469 | -€51,643 | |
| Financial income | 75/76B | €10 | €0 | -€10 | -99.8% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -99.8% |
| Financial charges | 65/66B | €225 | €1,677 | +€1,452 | +646.6% |
| Recurring financial charges | 65 | €225 | €1,677 | +€1,452 | +646.6% |
| Profit (loss) for the period before taxes | 9903 | €25,959 | -€27,146 | -€53,105 | |
| Income taxes | 67/77 | - | €5,173 | +€5,173 | |
| Profit (loss) for the period | 9904 | €25,959 | -€32,319 | -€58,278 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,959 | -€32,319 | -€58,278 |
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 5 October 2026 via checked.be.