MAXALIN: 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.
MAXALIN
Largest movements
- Receivables within one year -€19,479
down €19,479 (-32.7%), from €59,651 to €40,172
of which Trade receivables: -€19,300
- Tangible fixed assets -€16,488
down €16,488 (-25.3%), from €65,065 to €48,577
of which Furniture and vehicles: -€11,652
- Other debts -€28,380
down €28,380 (-80.9%), from €35,091 to €6,711
- Gross operating margin +€2,478
up €2,478 (+11.0%), from €22,627 to €25,105
- Taxes +€404
up €404 (+9.8%), from €4,104 to €4,509
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 | €448,900 | €415,133 | -€33,767 | -7.5% |
| Fixed assets | 21/28 | €385,065 | €368,577 | -€16,488 | -4.3% |
| Tangible fixed assets | 22/27 | €65,065 | €48,577 | -€16,488 | -25.3% |
| Land and buildings | 22 | €25,603 | €20,766 | -€4,836 | -18.9% |
| Furniture and vehicles | 24 | €39,462 | €27,810 | -€11,652 | -29.5% |
| Financial fixed assets | 28 | €320,000 | €320,000 | = | 0.0% |
| Current assets | 29/58 | €63,835 | €46,556 | -€17,279 | -27.1% |
| Amounts receivable within one year | 40/41 | €59,651 | €40,172 | -€19,479 | -32.7% |
| Trade receivables | 40 | €59,300 | €40,000 | -€19,300 | -32.5% |
| Other amounts receivable | 41 | €351 | €172 | -€179 | -51.0% |
| Cash at bank and in hand | 54/58 | €2,048 | €4,148 | +€2,100 | +102.5% |
| Deferred charges and accrued income | 490/1 | €2,136 | €2,236 | +€100 | +4.7% |
| Total equity and liabilities | 10/49 | €448,900 | €415,133 | -€33,767 | -7.5% |
| Equity | 10/15 | €396,345 | €398,314 | +€1,969 | +0.5% |
| Contributions | 10/11 | €320,000 | €320,000 | = | 0.0% |
| Reserves | 13 | €76,345 | €78,314 | +€1,969 | +2.6% |
| Non-distributable reserves | 130/1 | €32,000 | €32,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €32,000 | €32,000 | = | 0.0% |
| Distributable reserves | 133 | €44,345 | €46,314 | +€1,969 | +4.4% |
| Amounts payable | 17/49 | €52,555 | €16,819 | -€35,736 | -68.0% |
| Amounts payable within one year | 42/48 | €52,555 | €16,819 | -€35,736 | -68.0% |
| Trade debts | 44 | €5,281 | €1,250 | -€4,031 | -76.3% |
| Suppliers | 440/4 | €5,281 | €1,250 | -€4,031 | -76.3% |
| Taxes, remuneration and social security | 45 | €12,183 | €8,859 | -€3,324 | -27.3% |
| Taxes | 450/3 | €12,183 | €8,859 | -€3,324 | -27.3% |
| Other amounts payable | 47/48 | €35,091 | €6,711 | -€28,380 | -80.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,478 | €16,488 | +€10 | +0.1% |
| Other operating charges | 640/8 | €1,768 | €1,954 | +€187 | +10.6% |
| Gross operating margin | 9900 | €22,627 | €25,105 | +€2,478 | +11.0% |
| Operating profit (loss) | 9901 | €4,382 | €6,663 | +€2,281 | +52.1% |
| Financial charges | 65/66B | €216 | €186 | -€30 | -13.9% |
| Recurring financial charges | 65 | €216 | €186 | -€30 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €4,166 | €6,477 | +€2,311 | +55.5% |
| Income taxes | 67/77 | €4,104 | €4,509 | +€404 | +9.8% |
| Profit (loss) for the period | 9904 | €61 | €1,969 | +€1,907 | +3104.5% |
| Profit (loss) for the period to be appropriated | 9905 | €61 | €1,969 | +€1,907 | +3104.5% |
Source: filed annual accounts (NBB), fiscal years ended 29 December 2024 and 29 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.