MAXBOUD: 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.
MAXBOUD
Largest movements
- Cash -€13,970
down €13,970 (-54.5%), from €25,642 to €11,672
mainly Net result for the year (-€25,230) and Debts after one year (-€6,203)
- Tangible fixed assets -€9,324
down €9,324 (-22.8%), from €40,942 to €31,617
- Receivables within one year -€3,214
down €3,214 (-60.6%), from €5,301 to €2,088
of which Trade receivables: -€3,205
- Profit (loss) carried forward -€25,230
down €25,230, from €6,078 to -€19,152
- Other debts +€7,399
up €7,399 (+536%), from €1,380 to €8,779
- Debts after one year -€6,203
down €6,203 (-21.6%), from €28,653 to €22,450
- Tax, wage and social debts -€1,477
down €1,477 (-61.6%), from €2,396 to €919
- Current portion of long-term debt -€1,207
down €1,207 (-12.4%), from €9,737 to €8,530
- Gross operating margin -€14,927
down €14,927, from €2,251 to -€12,676
- Depreciation +€5,373
up €5,373 (+136%), from €3,951 to €9,324
- Financial charges +€972
up €972 (+124%), from €787 to €1,759
- Other operating charges -€329
down €329 (-20.6%), from €1,592 to €1,264
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 | €72,669 | €45,789 | -€26,881 | -37.0% |
| Fixed assets | 21/28 | €40,942 | €31,617 | -€9,324 | -22.8% |
| Tangible fixed assets | 22/27 | €40,942 | €31,617 | -€9,324 | -22.8% |
| Furniture and vehicles | 24 | €40,942 | €31,617 | -€9,324 | -22.8% |
| Current assets | 29/58 | €31,728 | €14,171 | -€17,556 | -55.3% |
| Amounts receivable within one year | 40/41 | €5,301 | €2,088 | -€3,214 | -60.6% |
| Trade receivables | 40 | €4,000 | €795 | -€3,205 | -80.1% |
| Other amounts receivable | 41 | €1,301 | €1,293 | -€9 | -0.7% |
| Cash at bank and in hand | 54/58 | €25,642 | €11,672 | -€13,970 | -54.5% |
| Deferred charges and accrued income | 490/1 | €785 | €412 | -€373 | -47.5% |
| Total equity and liabilities | 10/49 | €72,669 | €45,789 | -€26,881 | -37.0% |
| Equity | 10/15 | €29,138 | €3,908 | -€25,230 | -86.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €16,860 | €16,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,078 | -€19,152 | -€25,230 | |
| Amounts payable | 17/49 | €43,532 | €41,881 | -€1,650 | -3.8% |
| Amounts payable after more than one year | 17 | €28,653 | €22,450 | -€6,203 | -21.6% |
| Financial debts | 170/4 | €28,653 | €22,450 | -€6,203 | -21.6% |
| Amounts payable within one year | 42/48 | €14,879 | €19,431 | +€4,552 | +30.6% |
| Current portion of amounts payable after more than one year | 42 | €9,737 | €8,530 | -€1,207 | -12.4% |
| Trade debts | 44 | €1,366 | €1,204 | -€162 | -11.9% |
| Suppliers | 440/4 | €1,366 | €1,204 | -€162 | -11.9% |
| Taxes, remuneration and social security | 45 | €2,396 | €919 | -€1,477 | -61.6% |
| Taxes | 450/3 | €2,396 | €919 | -€1,477 | -61.6% |
| Other amounts payable | 47/48 | €1,380 | €8,779 | +€7,399 | +536% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,951 | €9,324 | +€5,373 | +136% |
| Other operating charges | 640/8 | €1,592 | €1,264 | -€329 | -20.6% |
| Gross operating margin | 9900 | €2,251 | -€12,676 | -€14,927 | |
| Operating profit (loss) | 9901 | -€3,293 | -€23,264 | -€19,971 | -607% |
| Financial income | 75/76B | €40 | - | -€40 | |
| Recurring financial income | 75 | €40 | - | -€40 | |
| Financial charges | 65/66B | €787 | €1,759 | +€972 | +124% |
| Recurring financial charges | 65 | €787 | €1,759 | +€972 | +124% |
| Profit (loss) for the period before taxes | 9903 | -€4,039 | -€25,023 | -€20,984 | -520% |
| Income taxes | 67/77 | €199 | €207 | +€9 | +4.3% |
| Profit (loss) for the period | 9904 | -€4,238 | -€25,230 | -€20,992 | -495% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,238 | -€25,230 | -€20,992 | -495% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.