MAXAWY: 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.
MAXAWY
Largest movements
- Cash -€16,649
down €16,649 (-47.9%), from €34,771 to €18,122
mainly Contributions, distributions and other (-€56,803) and Investment in fixed assets (net) (-€6,573)
- Receivables within one year -€12,041
down €12,041 (-84.5%), from €14,242 to €2,202
of which Trade receivables: -€13,662
- Current investments -€5,252
down €5,252 (-100.0%), from €5,252 to €0
- Deferred charges and accrued income +€2,310
up €2,310 (+354.0%), from €653 to €2,963
- Tangible fixed assets +€1,305
up €1,305 (+10.4%), from €12,514 to €13,819
- Reserves -€27,822
down €27,822 (-67.1%), from €41,494 to €13,672
- Tax, wage and social debts -€2,052
down €2,052 (-17.1%), from €12,005 to €9,952
of which Taxes: -€2,052
- Accrued charges and deferred income -€1,982
down €1,982 (-52.2%), from €3,800 to €1,818
- Other debts +€970
up €970 (+46.2%), from €2,100 to €3,071
- Gross operating margin -€9,712
down €9,712 (-18.2%), from €53,271 to €43,560
- Taxes -€2,457
down €2,457 (-23.4%), from €10,484 to €8,028
- Depreciation +€1,757
up €1,757 (+50.0%), from €3,511 to €5,268
- Financial charges +€1,328
up €1,328 (+1807.4%), from €74 to €1,402
- Financial income +€641
up €641 (+518.7%), from €124 to €764
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 | €67,432 | €37,105 | -€30,327 | -45.0% |
| Fixed assets | 21/28 | €12,514 | €13,819 | +€1,305 | +10.4% |
| Tangible fixed assets | 22/27 | €12,514 | €13,819 | +€1,305 | +10.4% |
| Furniture and vehicles | 24 | €12,514 | €13,819 | +€1,305 | +10.4% |
| Current assets | 29/58 | €54,918 | €23,286 | -€31,632 | -57.6% |
| Amounts receivable within one year | 40/41 | €14,242 | €2,202 | -€12,041 | -84.5% |
| Trade receivables | 40 | €13,662 | €0 | -€13,662 | -100.0% |
| Other amounts receivable | 41 | €580 | €2,202 | +€1,621 | +279.4% |
| Current investments | 50/53 | €5,252 | €0 | -€5,252 | -100.0% |
| Cash at bank and in hand | 54/58 | €34,771 | €18,122 | -€16,649 | -47.9% |
| Deferred charges and accrued income | 490/1 | €653 | €2,963 | +€2,310 | +354.0% |
| Total equity and liabilities | 10/49 | €67,432 | €37,105 | -€30,327 | -45.0% |
| Equity | 10/15 | €46,494 | €18,672 | -€27,822 | -59.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €41,494 | €13,672 | -€27,822 | -67.1% |
| Distributable reserves | 133 | €41,494 | €13,672 | -€27,822 | -67.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €20,938 | €18,433 | -€2,505 | -12.0% |
| Amounts payable within one year | 42/48 | €17,138 | €16,616 | -€522 | -3.0% |
| Trade debts | 44 | €3,033 | €3,592 | +€560 | +18.5% |
| Suppliers | 440/4 | €3,033 | €3,592 | +€560 | +18.5% |
| Taxes, remuneration and social security | 45 | €12,005 | €9,952 | -€2,052 | -17.1% |
| Taxes | 450/3 | €10,143 | €8,091 | -€2,052 | -20.2% |
| Remuneration and social security | 454/9 | €1,862 | €1,862 | = | 0.0% |
| Other amounts payable | 47/48 | €2,100 | €3,071 | +€970 | +46.2% |
| Accrued charges and deferred income | 492/3 | €3,800 | €1,818 | -€1,982 | -52.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,511 | €5,268 | +€1,757 | +50.0% |
| Other operating charges | 640/8 | €513 | €646 | +€133 | +25.8% |
| Gross operating margin | 9900 | €53,271 | €43,560 | -€9,712 | -18.2% |
| Operating profit (loss) | 9901 | €49,247 | €37,646 | -€11,601 | -23.6% |
| Financial income | 75/76B | €124 | €764 | +€641 | +518.7% |
| Recurring financial income | 75 | €124 | €764 | +€641 | +518.7% |
| Financial charges | 65/66B | €74 | €1,402 | +€1,328 | +1807.4% |
| Recurring financial charges | 65 | €74 | €1,402 | +€1,328 | +1807.4% |
| Profit (loss) for the period before taxes | 9903 | €49,297 | €37,009 | -€12,288 | -24.9% |
| Income taxes | 67/77 | €10,484 | €8,028 | -€2,457 | -23.4% |
| Profit (loss) for the period | 9904 | €38,813 | €28,981 | -€9,832 | -25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €38,813 | €28,981 | -€9,832 | -25.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.