Max Sport: 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 Sport
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+17.2%), from €6.7m to €7.9m
of which Land and buildings: +€1.2m
- Revaluation surpluses +€1.2m
up €1.2m (+19.3%), from €6.1m to €7.3m
- Financial income -€10,337
down €10,337 (-21.7%), from €47,705 to €37,368
- Taxes -€7,782
down €7,782 (-36.5%), from €21,342 to €13,561
- Gross operating margin -€1,430
down €1,430 (-2.2%), from €65,885 to €64,454
- Depreciation -€1,279
down €1,279 (-5.0%), from €25,695 to €24,416
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.
Derived cash bridge
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 | €8,183,241 | €9,408,688 | +€1.2m | +15.0% |
| Fixed assets | 21/28 | €6,726,361 | €7,881,946 | +€1.2m | +17.2% |
| Tangible fixed assets | 22/27 | €6,726,361 | €7,881,946 | +€1.2m | +17.2% |
| Land and buildings | 22 | €6,725,949 | €7,881,637 | +€1.2m | +17.2% |
| Plant, machinery and equipment | 23 | €412 | €309 | -€103 | -25.0% |
| Current assets | 29/58 | €1,456,879 | €1,526,742 | +€69,863 | +4.8% |
| Amounts receivable within one year | 40/41 | €659 | €650 | -€9 | -1.4% |
| Other amounts receivable | 41 | €659 | €650 | -€9 | -1.4% |
| Current investments | 50/53 | €1,398,000 | €1,484,259 | +€86,259 | +6.2% |
| Cash at bank and in hand | 54/58 | €31,020 | €24,867 | -€6,153 | -19.8% |
| Deferred charges and accrued income | 490/1 | €27,200 | €16,966 | -€10,234 | -37.6% |
| Total equity and liabilities | 10/49 | €8,183,241 | €9,408,688 | +€1.2m | +15.0% |
| Equity | 10/15 | €8,166,839 | €9,401,081 | +€1.2m | +15.1% |
| Contributions | 10/11 | €639,500 | €639,500 | = | 0.0% |
| Capital | 10 | €639,500 | €639,500 | = | 0.0% |
| Issued capital | 100 | €639,500 | €639,500 | = | 0.0% |
| Revaluation surpluses | 12 | €6,101,079 | €7,281,079 | +€1.2m | +19.3% |
| Reserves | 13 | €1,389,740 | €1,389,740 | = | 0.0% |
| Non-distributable reserves | 130/1 | €117,950 | €117,950 | = | 0.0% |
| Legal reserve | 130 | €117,950 | €117,950 | = | 0.0% |
| Distributable reserves | 133 | €1,271,790 | €1,271,790 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,519 | €90,762 | +€54,243 | +149% |
| Amounts payable | 17/49 | €16,402 | €7,607 | -€8,796 | -53.6% |
| Amounts payable within one year | 42/48 | €15,903 | €7,242 | -€8,661 | -54.5% |
| Trade debts | 44 | €129 | €154 | +€25 | +19.0% |
| Suppliers | 440/4 | €129 | €154 | +€25 | +19.0% |
| Taxes, remuneration and social security | 45 | €15,773 | €7,088 | -€8,685 | -55.1% |
| Taxes | 450/3 | €15,773 | €7,088 | -€8,685 | -55.1% |
| Accrued charges and deferred income | 492/3 | €500 | €365 | -€135 | -27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,695 | €24,416 | -€1,279 | -5.0% |
| Other operating charges | 640/8 | €9,588 | €9,558 | -€30 | -0.3% |
| Gross operating margin | 9900 | €65,885 | €64,454 | -€1,430 | -2.2% |
| Operating profit (loss) | 9901 | €30,602 | €30,480 | -€122 | -0.4% |
| Financial income | 75/76B | €47,705 | €37,368 | -€10,337 | -21.7% |
| Recurring financial income | 75 | €47,705 | €37,368 | -€10,337 | -21.7% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €78,262 | €67,804 | -€10,459 | -13.4% |
| Income taxes | 67/77 | €21,342 | €13,561 | -€7,782 | -36.5% |
| Profit (loss) for the period | 9904 | €56,920 | €54,243 | -€2,677 | -4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €56,920 | €54,243 | -€2,677 | -4.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.