MAXBE: 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.
MAXBE
Largest movements
- Tangible fixed assets -€10,428
down €10,428 (-5.8%), from €178,502 to €168,075
of which Land and buildings: -€6,207
- Receivables within one year +€8,288
up €8,288 (+14.5%), from €57,265 to €65,553
of which Other amounts receivable: +€16,167
- Debts after one year -€19,254
down €19,254 (-90.8%), from €21,211 to €1,957
- Reserves +€16,351
up €16,351 (+13.2%), from €124,258 to €140,609
of which Distributable reserves: +€16,351
- Short-term financial debts -€12,124
down €12,124 (-45.3%), from €26,774 to €14,650
- Tax, wage and social debts +€10,585
up €10,585 (+68.7%), from €15,410 to €25,995
of which Taxes: +€7,585
- Advances received +€8,470
up €8,470 (+233%), from €3,630 to €12,100
- Gross operating margin +€13,558
up €13,558 (+40.4%), from €33,564 to €47,122
- Taxes +€3,754
up €3,754 (+42.2%), from €8,900 to €12,653
- Other operating charges +€2,860
up €2,860 (+87.5%), from €3,267 to €6,127
- Financial charges +€926
up €926 (+25.0%), from €3,705 to €4,630
- Financial income +€551
up €551 (+21.9%), from €2,516 to €3,067
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 | €235,890 | €233,629 | -€2,261 | -1.0% |
| Fixed assets | 21/28 | €178,502 | €168,075 | -€10,428 | -5.8% |
| Tangible fixed assets | 22/27 | €178,502 | €168,075 | -€10,428 | -5.8% |
| Land and buildings | 22 | €171,657 | €165,450 | -€6,207 | -3.6% |
| Plant, machinery and equipment | 23 | €2,528 | €1,713 | -€815 | -32.2% |
| Furniture and vehicles | 24 | €4,317 | €912 | -€3,405 | -78.9% |
| Current assets | 29/58 | €57,387 | €65,554 | +€8,167 | +14.2% |
| Amounts receivable within one year | 40/41 | €57,265 | €65,553 | +€8,288 | +14.5% |
| Trade receivables | 40 | €8,907 | €1,029 | -€7,878 | -88.5% |
| Other amounts receivable | 41 | €48,358 | €64,525 | +€16,167 | +33.4% |
| Cash at bank and in hand | 54/58 | €122 | €1 | -€122 | -99.5% |
| Total equity and liabilities | 10/49 | €235,890 | €233,629 | -€2,261 | -1.0% |
| Equity | 10/15 | €142,858 | €159,209 | +€16,351 | +11.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €124,258 | €140,609 | +€16,351 | +13.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €122,398 | €138,749 | +€16,351 | +13.4% |
| Amounts payable | 17/49 | €93,032 | €74,420 | -€18,612 | -20.0% |
| Amounts payable after more than one year | 17 | €21,211 | €1,957 | -€19,254 | -90.8% |
| Financial debts | 170/4 | €21,211 | €1,957 | -€19,254 | -90.8% |
| Amounts payable within one year | 42/48 | €71,821 | €72,464 | +€643 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €19,096 | €19,254 | +€158 | +0.8% |
| Financial debts | 43 | €26,774 | €14,650 | -€12,124 | -45.3% |
| Credit institutions | 430/8 | €26,774 | €14,650 | -€12,124 | -45.3% |
| Trade debts | 44 | €6,911 | €464 | -€6,447 | -93.3% |
| Suppliers | 440/4 | €6,911 | €464 | -€6,447 | -93.3% |
| Advances received on contracts in progress | 46 | €3,630 | €12,100 | +€8,470 | +233% |
| Taxes, remuneration and social security | 45 | €15,410 | €25,995 | +€10,585 | +68.7% |
| Taxes | 450/3 | €15,410 | €22,995 | +€7,585 | +49.2% |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,537 | €10,428 | -€109 | -1.0% |
| Other operating charges | 640/8 | €3,267 | €6,127 | +€2,860 | +87.5% |
| Gross operating margin | 9900 | €33,564 | €47,122 | +€13,558 | +40.4% |
| Operating profit (loss) | 9901 | €19,760 | €30,568 | +€10,807 | +54.7% |
| Financial income | 75/76B | €2,516 | €3,067 | +€551 | +21.9% |
| Recurring financial income | 75 | €2,516 | €3,067 | +€551 | +21.9% |
| Financial charges | 65/66B | €3,705 | €4,630 | +€926 | +25.0% |
| Recurring financial charges | 65 | €3,705 | €4,630 | +€926 | +25.0% |
| Profit (loss) for the period before taxes | 9903 | €18,572 | €29,004 | +€10,432 | +56.2% |
| Income taxes | 67/77 | €8,900 | €12,653 | +€3,754 | +42.2% |
| Profit (loss) for the period | 9904 | €9,672 | €16,351 | +€6,679 | +69.1% |
| Profit (loss) for the period to be appropriated | 9905 | €9,672 | €16,351 | +€6,679 | +69.1% |
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 28 October 2026 via checked.be.