Maxas Management: 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.
Maxas Management
Largest movements
- Tangible fixed assets +€24,173
new in 2025: €24,173
of which Furniture and vehicles: +€22,806
- Cash +€5,373
up €5,373 (+14.0%), from €38,284 to €43,657
mainly Net result for the year (+€27,854) and Depreciation (+€5,556)
- Receivables within one year -€1,285
down €1,285 (-23.4%), from €5,500 to €4,215
of which Other amounts receivable: -€1,433
- Profit (loss) carried forward +€27,854
up €27,854 (+96.6%), from €28,837 to €56,691
- Tax, wage and social debts +€769
up €769 (+6.7%), from €11,434 to €12,203
of which Taxes: +€812
- Gross operating margin +€10,357
up €10,357 (+33.8%), from €30,628 to €40,985
- Depreciation +€5,556
new in 2025: €5,556
- Taxes +€1,127
up €1,127 (+18.4%), from €6,138 to €7,265
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 | €43,784 | €72,045 | +€28,261 | +64.5% |
| Fixed assets | 21/28 | - | €24,173 | +€24,173 | |
| Tangible fixed assets | 22/27 | - | €24,173 | +€24,173 | |
| Plant, machinery and equipment | 23 | - | €1,367 | +€1,367 | |
| Furniture and vehicles | 24 | - | €22,806 | +€22,806 | |
| Current assets | 29/58 | €43,784 | €47,872 | +€4,088 | +9.3% |
| Amounts receivable within one year | 40/41 | €5,500 | €4,215 | -€1,285 | -23.4% |
| Trade receivables | 40 | €0 | €148 | +€148 | |
| Other amounts receivable | 41 | €5,500 | €4,067 | -€1,433 | -26.1% |
| Cash at bank and in hand | 54/58 | €38,284 | €43,657 | +€5,373 | +14.0% |
| Total equity and liabilities | 10/49 | €43,784 | €72,045 | +€28,261 | +64.5% |
| Equity | 10/15 | €31,337 | €59,191 | +€27,854 | +88.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,837 | €56,691 | +€27,854 | +96.6% |
| Amounts payable | 17/49 | €12,448 | €12,854 | +€407 | +3.3% |
| Amounts payable within one year | 42/48 | €12,448 | €12,854 | +€407 | +3.3% |
| Trade debts | 44 | €499 | €651 | +€152 | +30.5% |
| Suppliers | 440/4 | €499 | €651 | +€152 | +30.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €11,434 | €12,203 | +€769 | +6.7% |
| Taxes | 450/3 | €11,391 | €12,203 | +€812 | +7.1% |
| Remuneration and social security | 454/9 | €44 | €0 | -€44 | -100.0% |
| Other amounts payable | 47/48 | €514 | €0 | -€514 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,556 | +€5,556 | |
| Other operating charges | 640/8 | €182 | €334 | +€152 | +83.6% |
| Gross operating margin | 9900 | €30,628 | €40,985 | +€10,357 | +33.8% |
| Operating profit (loss) | 9901 | €30,446 | €35,096 | +€4,649 | +15.3% |
| Financial income | 75/76B | €28 | €38 | +€10 | +34.3% |
| Recurring financial income | 75 | €28 | €38 | +€10 | +34.3% |
| Financial charges | 65/66B | -€0 | €14 | +€14 | |
| Recurring financial charges | 65 | -€0 | €14 | +€14 | |
| Profit (loss) for the period before taxes | 9903 | €30,475 | €35,119 | +€4,644 | +15.2% |
| Income taxes | 67/77 | €6,138 | €7,265 | +€1,127 | +18.4% |
| Profit (loss) for the period | 9904 | €24,337 | €27,854 | +€3,517 | +14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,337 | €27,854 | +€3,517 | +14.5% |
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 11 October 2026 via checked.be.