MAXCORE: 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.
MAXCORE
Largest movements
- Cash -€7,434
down €7,434 (-18.4%), from €40,496 to €33,063
mainly Other debts (-€41,000) and Investment in fixed assets (net) (-€5,994)
- Tangible fixed assets +€1,577
new in 2025: €1,577
- Other debts -€41,000
no longer reported in 2025 (was €41,000)
- Profit (loss) carried forward +€32,803
up €32,803 (+2926.2%), from €1,121 to €33,924
- Tax, wage and social debts +€2,497
up €2,497 (+30.5%), from €8,186 to €10,683
- Financial charges +€11,996
up €11,996 (+33.0%), from €36,306 to €48,302
- Gross operating margin +€5,950
up €5,950 (+6.6%), from €89,875 to €95,824
- Depreciation +€4,418
new in 2025: €4,418
- Taxes -€2,143
down €2,143 (-18.2%), from €11,751 to €9,608
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 | €57,395 | €51,626 | -€5,769 | -10.1% |
| Fixed assets | 21/28 | €100 | €1,677 | +€1,577 | +1572.8% |
| Tangible fixed assets | 22/27 | - | €1,577 | +€1,577 | |
| Furniture and vehicles | 24 | - | €1,577 | +€1,577 | |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €57,295 | €49,949 | -€7,346 | -12.8% |
| Amounts receivable within one year | 40/41 | €15,915 | €16,005 | +€90 | +0.6% |
| Trade receivables | 40 | €15,016 | €13,613 | -€1,404 | -9.3% |
| Other amounts receivable | 41 | €899 | €2,392 | +€1,493 | +166.2% |
| Cash at bank and in hand | 54/58 | €40,496 | €33,063 | -€7,434 | -18.4% |
| Deferred charges and accrued income | 490/1 | €884 | €882 | -€2 | -0.2% |
| Total equity and liabilities | 10/49 | €57,395 | €51,626 | -€5,769 | -10.1% |
| Equity | 10/15 | €7,121 | €39,924 | +€32,803 | +460.6% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,121 | €33,924 | +€32,803 | +2926.2% |
| Amounts payable | 17/49 | €50,274 | €11,702 | -€38,572 | -76.7% |
| Amounts payable within one year | 42/48 | €50,274 | €11,702 | -€38,572 | -76.7% |
| Trade debts | 44 | €1,088 | €1,019 | -€69 | -6.4% |
| Suppliers | 440/4 | €1,088 | €1,019 | -€69 | -6.4% |
| Taxes, remuneration and social security | 45 | €8,186 | €10,683 | +€2,497 | +30.5% |
| Taxes | 450/3 | €8,186 | €10,683 | +€2,497 | +30.5% |
| Other amounts payable | 47/48 | €41,000 | - | -€41,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €4,418 | +€4,418 | |
| Other operating charges | 640/8 | €673 | €695 | +€22 | +3.3% |
| Gross operating margin | 9900 | €89,875 | €95,824 | +€5,950 | +6.6% |
| Operating profit (loss) | 9901 | €89,202 | €90,712 | +€1,510 | +1.7% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €36,306 | €48,302 | +€11,996 | +33.0% |
| Recurring financial charges | 65 | €36,306 | €48,302 | +€11,996 | +33.0% |
| Profit (loss) for the period before taxes | 9903 | €52,896 | €42,411 | -€10,485 | -19.8% |
| Income taxes | 67/77 | €11,751 | €9,608 | -€2,143 | -18.2% |
| Profit (loss) for the period | 9904 | €41,145 | €32,803 | -€8,342 | -20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €41,145 | €32,803 | -€8,342 | -20.3% |
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 8 October 2026 via checked.be.