MAXAN: 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.
MAXAN
Largest movements
- Cash +€184,835
up €184,835 (+120.2%), from €153,788 to €338,623
mainly Net result for the year (+€319,978) and Other debts (+€306,659)
- Current investments +€41,554
up €41,554 (+153.9%), from €27,000 to €68,555
- Receivables within one year +€17,072
up €17,072 (+67.9%), from €25,128 to €42,201
of which Other amounts receivable: +€21,094
- Stocks and contracts -€13,919
down €13,919 (-100.0%), from €13,919 to €0
- Other debts +€306,659
up €306,659 (+1940.4%), from €15,804 to €322,462
- Current portion of long-term debt -€27,967
down €27,967 (-85.0%), from €32,905 to €4,938
- Tax, wage and social debts -€26,046
down €26,046 (-84.1%), from €30,986 to €4,940
of which Taxes: -€17,302
- Trade debts -€15,254
down €15,254 (-75.1%), from €20,313 to €5,059
- Gross operating margin +€264,233
up €264,233 (+103.6%), from €255,060 to €519,293
- Staff costs -€37,948
down €37,948 (-17.6%), from €215,959 to €178,011
- Depreciation -€9,603
down €9,603 (-40.5%), from €23,697 to €14,094
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.
Cash bridge derived
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 | €293,413 | €525,661 | +€232,248 | +79.2% |
| Fixed assets | 21/28 | €73,235 | €76,283 | +€3,048 | +4.2% |
| Tangible fixed assets | 22/27 | €57,785 | €60,833 | +€3,048 | +5.3% |
| Plant, machinery and equipment | 23 | €34,348 | €0 | -€34,348 | -100.0% |
| Furniture and vehicles | 24 | €4,320 | €48,336 | +€44,016 | +1018.8% |
| Leasing and similar rights | 25 | €19,117 | €12,497 | -€6,620 | -34.6% |
| Financial fixed assets | 28 | €15,450 | €15,450 | = | 0.0% |
| Current assets | 29/58 | €220,178 | €449,378 | +€229,200 | +104.1% |
| Stocks and contracts in progress | 3 | €13,919 | €0 | -€13,919 | -100.0% |
| Stocks | 30/36 | €13,919 | €0 | -€13,919 | -100.0% |
| Amounts receivable within one year | 40/41 | €25,128 | €42,201 | +€17,072 | +67.9% |
| Trade receivables | 40 | €17,605 | €13,583 | -€4,022 | -22.8% |
| Other amounts receivable | 41 | €7,523 | €28,618 | +€21,094 | +280.4% |
| Current investments | 50/53 | €27,000 | €68,555 | +€41,554 | +153.9% |
| Cash at bank and in hand | 54/58 | €153,788 | €338,623 | +€184,835 | +120.2% |
| Deferred charges and accrued income | 490/1 | €342 | €0 | -€342 | -100.0% |
| Total equity and liabilities | 10/49 | €293,413 | €525,661 | +€232,248 | +79.2% |
| Equity | 10/15 | €155,409 | €152,925 | -€2,484 | -1.6% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €125,000 | €125,000 | = | 0.0% |
| Distributable reserves | 133 | €125,000 | €125,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €409 | -€2,075 | -€2,484 | |
| Amounts payable | 17/49 | €138,004 | €372,736 | +€234,732 | +170.1% |
| Amounts payable after more than one year | 17 | €37,996 | €35,337 | -€2,660 | -7.0% |
| Financial debts | 170/4 | €37,996 | €35,337 | -€2,660 | -7.0% |
| Amounts payable within one year | 42/48 | €100,008 | €337,399 | +€237,391 | +237.4% |
| Current portion of amounts payable after more than one year | 42 | €32,905 | €4,938 | -€27,967 | -85.0% |
| Trade debts | 44 | €20,313 | €5,059 | -€15,254 | -75.1% |
| Suppliers | 440/4 | €20,313 | €5,059 | -€15,254 | -75.1% |
| Taxes, remuneration and social security | 45 | €30,986 | €4,940 | -€26,046 | -84.1% |
| Taxes | 450/3 | €20,022 | €2,720 | -€17,302 | -86.4% |
| Remuneration and social security | 454/9 | €10,964 | €2,220 | -€8,744 | -79.8% |
| Other amounts payable | 47/48 | €15,804 | €322,462 | +€306,659 | +1940.4% |
| Non-recurring operating income | 76A | - | €361,383 | +€361,383 | |
| Remuneration, social security and pensions | 62 | €215,959 | €178,011 | -€37,948 | -17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,697 | €14,094 | -€9,603 | -40.5% |
| Other operating charges | 640/8 | €1,388 | €1,578 | +€190 | +13.7% |
| Gross operating margin | 9900 | €255,060 | €519,293 | +€264,233 | +103.6% |
| Operating profit (loss) | 9901 | €14,017 | €325,610 | +€311,593 | +2223.0% |
| Financial income | 75/76B | €5 | €845 | +€840 | +17604.6% |
| Recurring financial income | 75 | €5 | €845 | +€840 | +17604.6% |
| Financial charges | 65/66B | €2,734 | €2,864 | +€130 | +4.8% |
| Recurring financial charges | 65 | €2,734 | €2,864 | +€130 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €11,287 | €323,590 | +€312,303 | +2766.8% |
| Income taxes | 67/77 | €2,429 | €3,612 | +€1,183 | +48.7% |
| Profit (loss) for the period | 9904 | €8,858 | €319,978 | +€311,120 | +3512.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,858 | €319,978 | +€311,120 | +3512.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.