MAX STAR: 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 STAR
Largest movements
- Receivables within one year +€31,318
up €31,318 (+277%), from €11,299 to €42,616
of which Trade receivables: +€34,973
- Tangible fixed assets -€21,585
down €21,585 (-35.2%), from €61,323 to €39,739
- Cash -€8,039
down €8,039 (-67.6%), from €11,892 to €3,853
mainly Receivables within one year (-€31,318) and Net result for the year (-€6,142)
- Deferred charges and accrued income -€2,113
down €2,113 (-58.5%), from €3,613 to €1,500
- Profit (loss) carried forward -€6,142
down €6,142 (-26.7%), from €23,010 to €16,869
- Other debts +€6,085
up €6,085 (+15.1%), from €40,242 to €46,328
- Trade debts -€1,759
down €1,759 (-30.1%), from €5,843 to €4,083
- Tax, wage and social debts +€1,396
up €1,396 (+15.5%), from €9,032 to €10,428
- Gross operating margin -€14,891
down €14,891 (-37.8%), from €39,343 to €24,452
- Depreciation -€8,514
down €8,514 (-52.3%), from €16,276 to €7,763
- Taxes +€5,724
up €5,724 (+347%), from €1,649 to €7,373
- Other operating charges +€5,009
up €5,009 (+343%), from €1,462 to €6,471
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.
Derived cash bridge
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 | €88,127 | €87,708 | -€420 | -0.5% |
| Fixed assets | 21/28 | €61,323 | €39,739 | -€21,585 | -35.2% |
| Tangible fixed assets | 22/27 | €61,323 | €39,739 | -€21,585 | -35.2% |
| Furniture and vehicles | 24 | €61,323 | €39,739 | -€21,585 | -35.2% |
| Current assets | 29/58 | €26,804 | €47,969 | +€21,165 | +79.0% |
| Amounts receivable within one year | 40/41 | €11,299 | €42,616 | +€31,318 | +277% |
| Trade receivables | 40 | €1,027 | €36,000 | +€34,973 | +3,404% |
| Other amounts receivable | 41 | €10,271 | €6,616 | -€3,655 | -35.6% |
| Cash at bank and in hand | 54/58 | €11,892 | €3,853 | -€8,039 | -67.6% |
| Deferred charges and accrued income | 490/1 | €3,613 | €1,500 | -€2,113 | -58.5% |
| Total equity and liabilities | 10/49 | €88,127 | €87,708 | -€420 | -0.5% |
| Equity | 10/15 | €33,010 | €26,869 | -€6,142 | -18.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,010 | €16,869 | -€6,142 | -26.7% |
| Amounts payable | 17/49 | €55,117 | €60,839 | +€5,722 | +10.4% |
| Amounts payable within one year | 42/48 | €55,117 | €60,839 | +€5,722 | +10.4% |
| Trade debts | 44 | €5,843 | €4,083 | -€1,759 | -30.1% |
| Suppliers | 440/4 | €5,843 | €4,083 | -€1,759 | -30.1% |
| Taxes, remuneration and social security | 45 | €9,032 | €10,428 | +€1,396 | +15.5% |
| Taxes | 450/3 | €9,032 | €10,428 | +€1,396 | +15.5% |
| Other amounts payable | 47/48 | €40,242 | €46,328 | +€6,085 | +15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,276 | €7,763 | -€8,514 | -52.3% |
| Other operating charges | 640/8 | €1,462 | €6,471 | +€5,009 | +343% |
| Non-recurring operating charges | 66A | - | €8,987 | +€8,987 | |
| Gross operating margin | 9900 | €39,343 | €24,452 | -€14,891 | -37.8% |
| Operating profit (loss) | 9901 | €21,604 | €1,231 | -€20,373 | -94.3% |
| Financial charges | 65/66B | €8 | - | -€8 | |
| Recurring financial charges | 65 | €8 | - | -€8 | |
| Profit (loss) for the period before taxes | 9903 | €21,597 | €1,231 | -€20,366 | -94.3% |
| Income taxes | 67/77 | €1,649 | €7,373 | +€5,724 | +347% |
| Profit (loss) for the period | 9904 | €19,948 | -€6,142 | -€26,089 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,948 | -€6,142 | -€26,089 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.