MAXCHAUFFAGE: 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.
MAXCHAUFFAGE
Largest movements
- Receivables within one year +€85,281
up €85,281 (+77.3%), from €110,319 to €195,600
of which Trade receivables: +€59,608
- Tangible fixed assets -€5,170
down €5,170 (-35.0%), from €14,784 to €9,613
of which Furniture and vehicles: -€3,344
- Stocks and contracts -€4,200
down €4,200 (-56.0%), from €7,500 to €3,300
- Cash +€2,693
up €2,693 (+342.5%), from €786 to €3,479
mainly Trade debts (+€85,396) and Debts after one year (+€15,758)
- Trade debts +€85,396
up €85,396 (+151.1%), from €56,529 to €141,925
- Short-term financial debts -€18,948
no longer reported in 2025 (was €18,948)
- Profit (loss) carried forward -€17,711
down €17,711 (-65.2%), from -€27,163 to -€44,875
- Debts after one year +€15,758
up €15,758 (+105.0%), from €15,014 to €30,772
- Current portion of long-term debt +€11,834
up €11,834 (+48.1%), from €24,594 to €36,428
- Other operating charges +€31,884
up €31,884 (+427.7%), from €7,455 to €39,338
- Gross operating margin +€19,409
up €19,409 (+301.4%), from €6,439 to €25,847
- Depreciation -€17,829
down €17,829 (-77.5%), from €22,999 to €5,170
- Financial charges -€857
down €857 (-30.2%), from €2,840 to €1,982
- Financial income +€708
up €708 (+28.9%), from €2,451 to €3,159
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 | €133,389 | €212,116 | +€78,727 | +59.0% |
| Fixed assets | 21/28 | €14,784 | €9,613 | -€5,170 | -35.0% |
| Tangible fixed assets | 22/27 | €14,784 | €9,613 | -€5,170 | -35.0% |
| Plant, machinery and equipment | 23 | €1,980 | €1,340 | -€640 | -32.3% |
| Furniture and vehicles | 24 | €10,826 | €7,482 | -€3,344 | -30.9% |
| Leasing and similar rights | 25 | €1,978 | €791 | -€1,187 | -60.0% |
| Current assets | 29/58 | €118,605 | €202,503 | +€83,898 | +70.7% |
| Stocks and contracts in progress | 3 | €7,500 | €3,300 | -€4,200 | -56.0% |
| Stocks | 30/36 | €7,500 | €3,300 | -€4,200 | -56.0% |
| Amounts receivable within one year | 40/41 | €110,319 | €195,600 | +€85,281 | +77.3% |
| Trade receivables | 40 | €74,034 | €133,642 | +€59,608 | +80.5% |
| Other amounts receivable | 41 | €36,285 | €61,959 | +€25,673 | +70.8% |
| Cash at bank and in hand | 54/58 | €786 | €3,479 | +€2,693 | +342.5% |
| Deferred charges and accrued income | 490/1 | - | €124 | +€124 | |
| Total equity and liabilities | 10/49 | €133,389 | €212,116 | +€78,727 | +59.0% |
| Equity | 10/15 | -€22,163 | -€39,875 | -€17,711 | -79.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,163 | -€44,875 | -€17,711 | -65.2% |
| Amounts payable | 17/49 | €155,553 | €251,991 | +€96,439 | +62.0% |
| Amounts payable after more than one year | 17 | €15,014 | €30,772 | +€15,758 | +105.0% |
| Financial debts | 170/4 | €15,014 | €30,772 | +€15,758 | +105.0% |
| Amounts payable within one year | 42/48 | €139,714 | €221,219 | +€81,505 | +58.3% |
| Current portion of amounts payable after more than one year | 42 | €24,594 | €36,428 | +€11,834 | +48.1% |
| Financial debts | 43 | €18,948 | - | -€18,948 | |
| Credit institutions | 430/8 | €18,948 | - | -€18,948 | |
| Trade debts | 44 | €56,529 | €141,925 | +€85,396 | +151.1% |
| Suppliers | 440/4 | €56,529 | €141,925 | +€85,396 | +151.1% |
| Taxes, remuneration and social security | 45 | €39,642 | €42,866 | +€3,224 | +8.1% |
| Taxes | 450/3 | €19,821 | €20,098 | +€276 | +1.4% |
| Remuneration and social security | 454/9 | €19,821 | €22,769 | +€2,948 | +14.9% |
| Accrued charges and deferred income | 492/3 | €825 | - | -€825 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,999 | €5,170 | -€17,829 | -77.5% |
| Other operating charges | 640/8 | €7,455 | €39,338 | +€31,884 | +427.7% |
| Gross operating margin | 9900 | €6,439 | €25,847 | +€19,409 | +301.4% |
| Operating profit (loss) | 9901 | -€24,016 | -€18,662 | +€5,354 | +22.3% |
| Financial income | 75/76B | €2,451 | €3,159 | +€708 | +28.9% |
| Recurring financial income | 75 | €2,451 | €3,159 | +€708 | +28.9% |
| Financial charges | 65/66B | €2,840 | €1,982 | -€857 | -30.2% |
| Recurring financial charges | 65 | €2,840 | €1,982 | -€857 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | -€24,404 | -€17,485 | +€6,919 | +28.4% |
| Income taxes | 67/77 | €186 | €226 | +€40 | +21.5% |
| Profit (loss) for the period | 9904 | -€24,591 | -€17,711 | +€6,879 | +28.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,591 | -€17,711 | +€6,879 | +28.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.