MaxAmaze Equestrian: 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.
MaxAmaze Equestrian
Largest movements
- Receivables within one year +€502,466
up €502,466 (+152%), from €330,392 to €832,858
of which Trade receivables: +€492,887
- Stocks and contracts +€276,165
up €276,165 (+132%), from €209,251 to €485,416
- Cash -€246,637
down €246,637 (-72.8%), from €338,970 to €92,333
mainly Receivables within one year (-€502,466) and Stocks and contracts (-€276,165)
- Tangible fixed assets -€61,191
down €61,191 (-14.1%), from €433,514 to €372,323
of which Plant, machinery and equipment: -€54,172
- Trade debts +€532,676
up €532,676 (+126%), from €421,193 to €953,869
- Profit (loss) carried forward -€74,674
down €74,674 (-19.5%), from €383,860 to €309,186
- Accrued charges and deferred income +€66,830
up €66,830 (+9,970%), from €670 to €67,500
- Debts after one year -€42,224
down €42,224 (-31.5%), from €133,983 to €91,759
- Tax, wage and social debts +€30,109
up €30,109 (+101%), from €29,772 to €59,881
of which Taxes: +€43,852
- Gross operating margin -€93,814
down €93,814 (-19.1%), from €491,525 to €397,712
- Staff costs +€90,585
up €90,585 (+60.3%), from €150,331 to €240,916
- Financial charges -€52,495
down €52,495 (-45.1%), from €116,318 to €63,823
of which Non-recurring financial charges: -€50,224
- Depreciation -€50,556
down €50,556 (-25.2%), from €200,572 to €150,016
- Other operating charges +€20,162
up €20,162 (+394%), from €5,116 to €25,279
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 | €1,403,172 | €1,885,955 | +€482,783 | +34.4% |
| Fixed assets | 21/28 | €474,433 | €424,335 | -€50,097 | -10.6% |
| Intangible fixed assets | 21 | €40,919 | €52,013 | +€11,094 | +27.1% |
| Tangible fixed assets | 22/27 | €433,514 | €372,323 | -€61,191 | -14.1% |
| Plant, machinery and equipment | 23 | €142,730 | €88,558 | -€54,172 | -38.0% |
| Furniture and vehicles | 24 | €29,991 | €41,934 | +€11,944 | +39.8% |
| Leasing and similar rights | 25 | €228,402 | €217,731 | -€10,670 | -4.7% |
| Other tangible fixed assets | 26 | €32,391 | €24,099 | -€8,293 | -25.6% |
| Current assets | 29/58 | €928,739 | €1,461,620 | +€532,880 | +57.4% |
| Stocks and contracts in progress | 3 | €209,251 | €485,416 | +€276,165 | +132% |
| Stocks | 30/36 | €209,251 | €485,416 | +€276,165 | +132% |
| Amounts receivable within one year | 40/41 | €330,392 | €832,858 | +€502,466 | +152% |
| Trade receivables | 40 | €327,888 | €820,774 | +€492,887 | +150% |
| Other amounts receivable | 41 | €2,504 | €12,083 | +€9,579 | +383% |
| Cash at bank and in hand | 54/58 | €338,970 | €92,333 | -€246,637 | -72.8% |
| Deferred charges and accrued income | 490/1 | €50,126 | €51,012 | +€886 | +1.8% |
| Total equity and liabilities | 10/49 | €1,403,172 | €1,885,955 | +€482,783 | +34.4% |
| Equity | 10/15 | €391,920 | €317,246 | -€74,674 | -19.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €383,860 | €309,186 | -€74,674 | -19.5% |
| Amounts payable | 17/49 | €1,011,252 | €1,568,709 | +€557,457 | +55.1% |
| Amounts payable after more than one year | 17 | €133,983 | €91,759 | -€42,224 | -31.5% |
| Financial debts | 170/4 | €133,983 | €91,759 | -€42,224 | -31.5% |
| Amounts payable within one year | 42/48 | €876,599 | €1,409,451 | +€532,851 | +60.8% |
| Current portion of amounts payable after more than one year | 42 | €103,634 | €88,695 | -€14,939 | -14.4% |
| Financial debts | 43 | €322,001 | €307,005 | -€14,996 | -4.7% |
| Credit institutions | 430/8 | €322,001 | €307,005 | -€14,996 | -4.7% |
| Trade debts | 44 | €421,193 | €953,869 | +€532,676 | +126% |
| Suppliers | 440/4 | €421,193 | €953,869 | +€532,676 | +126% |
| Taxes, remuneration and social security | 45 | €29,772 | €59,881 | +€30,109 | +101% |
| Taxes | 450/3 | €16,029 | €59,881 | +€43,852 | +274% |
| Remuneration and social security | 454/9 | €13,742 | - | -€13,742 | |
| Accrued charges and deferred income | 492/3 | €670 | €67,500 | +€66,830 | +9,970% |
| Non-recurring operating income | 76A | €3,768 | - | -€3,768 | |
| Remuneration, social security and pensions | 62 | €150,331 | €240,916 | +€90,585 | +60.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €200,572 | €150,016 | -€50,556 | -25.2% |
| Other operating charges | 640/8 | €5,116 | €25,279 | +€20,162 | +394% |
| Non-recurring operating charges | 66A | €22 | - | -€22 | |
| Gross operating margin | 9900 | €491,525 | €397,712 | -€93,814 | -19.1% |
| Operating profit (loss) | 9901 | €135,484 | -€18,500 | -€153,983 | |
| Financial income | 75/76B | €814 | €5,236 | +€4,422 | +544% |
| Recurring financial income | 75 | €814 | €5,236 | +€4,422 | +544% |
| Financial charges | 65/66B | €116,318 | €63,823 | -€52,495 | -45.1% |
| Recurring financial charges | 65 | €51,318 | €49,047 | -€2,271 | -4.4% |
| Non-recurring financial charges | 66B | €65,000 | €14,776 | -€50,224 | -77.3% |
| Profit (loss) for the period before taxes | 9903 | €19,979 | -€77,087 | -€97,066 | |
| Income taxes | 67/77 | €12,771 | -€2,413 | -€15,184 | |
| Profit (loss) for the period | 9904 | €7,208 | -€74,674 | -€81,882 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,208 | -€74,674 | -€81,882 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.