MAXALENA: 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.
MAXALENA
Largest movements
- Tangible fixed assets +€23,043
up €23,043 (+841.3%), from €2,739 to €25,782
of which Furniture and vehicles: +€23,606
- Cash +€4,833
up €4,833 (+53.0%), from €9,112 to €13,945
mainly Other debts (+€16,520) and Net result for the year (+€7,659)
- Receivables within one year -€4,711
down €4,711 (-60.8%), from €7,748 to €3,037
of which Other amounts receivable: -€3,914
- Deferred charges and accrued income -€542
down €542 (-72.2%), from €751 to €209
- Other debts +€16,520
up €16,520 (+330.9%), from €4,993 to €21,513
- Reserves +€7,659
up €7,659 (+55.9%), from €13,694 to €21,353
- Trade debts -€788
no longer reported in 2025 (was €788)
- Tax, wage and social debts -€755
down €755 (-94.5%), from €799 to €44
- Gross operating margin +€3,706
up €3,706 (+40.4%), from €9,180 to €12,886
- Depreciation +€2,761
up €2,761 (+323.7%), from €853 to €3,614
- Taxes +€410
up €410 (+52.6%), from €778 to €1,188
- Financial income -€261
down €261 (-90.1%), from €289 to €29
- Other operating charges -€244
down €244 (-43.8%), from €558 to €313
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 | €20,349 | €42,972 | +€22,623 | +111.2% |
| Fixed assets | 21/28 | €2,739 | €25,782 | +€23,043 | +841.3% |
| Tangible fixed assets | 22/27 | €2,739 | €25,782 | +€23,043 | +841.3% |
| Plant, machinery and equipment | 23 | €2,273 | €1,710 | -€563 | -24.8% |
| Furniture and vehicles | 24 | €466 | €24,072 | +€23,606 | +5066.9% |
| Current assets | 29/58 | €17,610 | €17,190 | -€420 | -2.4% |
| Amounts receivable within one year | 40/41 | €7,748 | €3,037 | -€4,711 | -60.8% |
| Trade receivables | 40 | €3,271 | €2,474 | -€797 | -24.4% |
| Other amounts receivable | 41 | €4,477 | €562 | -€3,914 | -87.4% |
| Cash at bank and in hand | 54/58 | €9,112 | €13,945 | +€4,833 | +53.0% |
| Deferred charges and accrued income | 490/1 | €751 | €209 | -€542 | -72.2% |
| Total equity and liabilities | 10/49 | €20,349 | €42,972 | +€22,623 | +111.2% |
| Equity | 10/15 | €13,756 | €21,415 | +€7,659 | +55.7% |
| Reserves | 13 | €13,694 | €21,353 | +€7,659 | +55.9% |
| Distributable reserves | 133 | €13,694 | €21,353 | +€7,659 | +55.9% |
| Profit (loss) carried forward | 14 | €62 | €62 | +€0 | +0.3% |
| Amounts payable | 17/49 | €6,593 | €21,557 | +€14,964 | +227.0% |
| Amounts payable within one year | 42/48 | €6,580 | €21,557 | +€14,977 | +227.6% |
| Trade debts | 44 | €788 | - | -€788 | |
| Suppliers | 440/4 | €788 | - | -€788 | |
| Taxes, remuneration and social security | 45 | €799 | €44 | -€755 | -94.5% |
| Taxes | 450/3 | €799 | €44 | -€755 | -94.5% |
| Other amounts payable | 47/48 | €4,993 | €21,513 | +€16,520 | +330.9% |
| Accrued charges and deferred income | 492/3 | €13 | - | -€13 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €853 | €3,614 | +€2,761 | +323.7% |
| Other operating charges | 640/8 | €558 | €313 | -€244 | -43.8% |
| Gross operating margin | 9900 | €9,180 | €12,886 | +€3,706 | +40.4% |
| Operating profit (loss) | 9901 | €7,769 | €8,959 | +€1,190 | +15.3% |
| Financial income | 75/76B | €289 | €29 | -€261 | -90.1% |
| Recurring financial income | 75 | €289 | €29 | -€261 | -90.1% |
| Financial charges | 65/66B | €167 | €141 | -€26 | -15.7% |
| Recurring financial charges | 65 | €167 | €141 | -€26 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €7,892 | €8,847 | +€955 | +12.1% |
| Income taxes | 67/77 | €778 | €1,188 | +€410 | +52.6% |
| Profit (loss) for the period | 9904 | €7,114 | €7,659 | +€546 | +7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,114 | €7,659 | +€546 | +7.7% |
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.