Maxannco: 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.
Maxannco
Largest movements
- Receivables within one year +€42,727
up €42,727 (+101%), from €42,288 to €85,015
of which Trade receivables: +€40,164
- Cash -€21,782
down €21,782 (-91.4%), from €23,836 to €2,054
mainly Receivables within one year (-€42,727) and Advances received (-€16,475)
- Tangible fixed assets -€6,338
down €6,338 (-4.7%), from €135,479 to €129,141
of which Land and buildings: -€6,591
- Trade debts +€45,611
up €45,611 (+163%), from €27,922 to €73,534
- Advances received -€16,475
no longer reported in 2025 (was €16,475)
- Debts after one year -€12,210
down €12,210 (-13.4%), from €91,309 to €79,099
- Gross operating margin +€15,041
up €15,041 (+182%), from €8,285 to €23,327
- Taxes +€4,244
up €4,244, from -€148 to €4,095
- Financial income +€2,299
up €2,299 (+1,146%), from €201 to €2,500
of which Non-recurring financial income: +€2,500
- Depreciation -€949
down €949 (-8.3%), from €11,412 to €10,463
- Other operating charges +€721
up €721 (+39.4%), from €1,832 to €2,553
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 | €243,136 | €258,723 | +€15,587 | +6.4% |
| Fixed assets | 21/28 | €135,479 | €129,141 | -€6,338 | -4.7% |
| Tangible fixed assets | 22/27 | €135,479 | €129,141 | -€6,338 | -4.7% |
| Land and buildings | 22 | €129,698 | €123,107 | -€6,591 | -5.1% |
| Furniture and vehicles | 24 | €5,781 | €6,034 | +€253 | +4.4% |
| Current assets | 29/58 | €107,658 | €129,582 | +€21,925 | +20.4% |
| Stocks and contracts in progress | 3 | €41,511 | €42,513 | +€1,003 | +2.4% |
| Stocks | 30/36 | €41,511 | €42,513 | +€1,003 | +2.4% |
| Amounts receivable within one year | 40/41 | €42,288 | €85,015 | +€42,727 | +101% |
| Trade receivables | 40 | €39,553 | €79,717 | +€40,164 | +102% |
| Other amounts receivable | 41 | €2,735 | €5,298 | +€2,563 | +93.7% |
| Cash at bank and in hand | 54/58 | €23,836 | €2,054 | -€21,782 | -91.4% |
| Deferred charges and accrued income | 490/1 | €24 | - | -€24 | |
| Total equity and liabilities | 10/49 | €243,136 | €258,723 | +€15,587 | +6.4% |
| Equity | 10/15 | €10,926 | €12,394 | +€1,468 | +13.4% |
| Contributions | 10/11 | €14,900 | €14,900 | = | 0.0% |
| Reserves | 13 | €3,398 | €3,398 | = | 0.0% |
| Distributable reserves | 133 | €3,398 | €3,398 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,372 | -€5,904 | +€1,468 | +19.9% |
| Amounts payable | 17/49 | €232,210 | €246,330 | +€14,119 | +6.1% |
| Amounts payable after more than one year | 17 | €91,309 | €79,099 | -€12,210 | -13.4% |
| Financial debts | 170/4 | €91,309 | €79,099 | -€12,210 | -13.4% |
| Amounts payable within one year | 42/48 | €140,720 | €167,231 | +€26,511 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €11,947 | €12,210 | +€263 | +2.2% |
| Trade debts | 44 | €27,922 | €73,534 | +€45,611 | +163% |
| Suppliers | 440/4 | €27,922 | €73,534 | +€45,611 | +163% |
| Advances received on contracts in progress | 46 | €16,475 | - | -€16,475 | |
| Taxes, remuneration and social security | 45 | €12,743 | €11,955 | -€788 | -6.2% |
| Taxes | 450/3 | €4,631 | €11,955 | +€7,324 | +158% |
| Remuneration and social security | 454/9 | €8,112 | - | -€8,112 | |
| Other amounts payable | 47/48 | €71,633 | €69,532 | -€2,101 | -2.9% |
| Accrued charges and deferred income | 492/3 | €181 | - | -€181 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,412 | €10,463 | -€949 | -8.3% |
| Other operating charges | 640/8 | €1,832 | €2,553 | +€721 | +39.4% |
| Non-recurring operating charges | 66A | - | €3,633 | +€3,633 | |
| Gross operating margin | 9900 | €8,285 | €23,327 | +€15,041 | +182% |
| Operating profit (loss) | 9901 | -€4,958 | €6,678 | +€11,636 | |
| Financial income | 75/76B | €201 | €2,500 | +€2,299 | +1,146% |
| Recurring financial income | 75 | €201 | €2,500 | +€2,299 | +1,146% |
| Non-recurring financial income | 76B | - | €2,500 | +€2,500 | |
| Financial charges | 65/66B | €2,763 | €2,815 | +€52 | +1.9% |
| Recurring financial charges | 65 | €2,763 | €2,815 | +€52 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,520 | €6,363 | +€13,883 | |
| Income taxes | 67/77 | -€148 | €4,095 | +€4,244 | |
| Profit (loss) for the period | 9904 | -€7,372 | €2,268 | +€9,639 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,372 | €2,268 | +€9,639 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.