MAXDIS: 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.
MAXDIS
Largest movements
- Tangible fixed assets -€65,568
down €65,568 (-16.6%), from €394,044 to €328,476
of which Plant, machinery and equipment: -€58,943
- Cash +€60,720
up €60,720 (+134.5%), from €45,142 to €105,862
mainly Net result for the year (+€163,311) and Other debts (+€99,978)
- Current investments +€50,000
new in 2025: €50,000
- Receivables within one year +€9,334
up €9,334 (+3.3%), from €282,398 to €291,731
of which Trade receivables: +€10,966
- Other debts +€99,978
up €99,978 (+99.9%), from €100,041 to €200,019
- Reserves -€41,311
down €41,311 (-8.6%), from €481,689 to €440,378
of which Tax-exempt reserves: -€41,311
- Profit (loss) carried forward +€18,392
up €18,392 (+270.0%), from €6,812 to €25,204
- Provisions -€13,770
down €13,770 (-16.0%), from €86,163 to €72,393
- Debts after one year -€9,814
down €9,814 (-71.0%), from €13,814 to €4,000
- Gross operating margin +€53,082
up €53,082 (+13.3%), from €398,071 to €451,153
- Taxes -€15,417
down €15,417 (-68.7%), from €22,447 to €7,031
- Staff costs +€13,586
up €13,586 (+6.8%), from €201,085 to €214,671
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 | €846,637 | €905,413 | +€58,776 | +6.9% |
| Fixed assets | 21/28 | €404,519 | €339,191 | -€65,329 | -16.1% |
| Tangible fixed assets | 22/27 | €394,044 | €328,476 | -€65,568 | -16.6% |
| Plant, machinery and equipment | 23 | €369,442 | €310,499 | -€58,943 | -16.0% |
| Furniture and vehicles | 24 | €24,602 | €17,977 | -€6,624 | -26.9% |
| Financial fixed assets | 28 | €10,475 | €10,714 | +€239 | +2.3% |
| Current assets | 29/58 | €442,118 | €566,223 | +€124,105 | +28.1% |
| Stocks and contracts in progress | 3 | €97,864 | €94,138 | -€3,726 | -3.8% |
| Stocks | 30/36 | €97,864 | €94,138 | -€3,726 | -3.8% |
| Amounts receivable within one year | 40/41 | €282,398 | €291,731 | +€9,334 | +3.3% |
| Trade receivables | 40 | €280,682 | €291,647 | +€10,966 | +3.9% |
| Other amounts receivable | 41 | €1,716 | €84 | -€1,632 | -95.1% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €45,142 | €105,862 | +€60,720 | +134.5% |
| Deferred charges and accrued income | 490/1 | €16,714 | €24,491 | +€7,777 | +46.5% |
| Total equity and liabilities | 10/49 | €846,637 | €905,413 | +€58,776 | +6.9% |
| Equity | 10/15 | €550,501 | €527,582 | -€22,919 | -4.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €481,689 | €440,378 | -€41,311 | -8.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €258,489 | €217,178 | -€41,311 | -16.0% |
| Distributable reserves | 133 | €217,000 | €217,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,812 | €25,204 | +€18,392 | +270.0% |
| Provisions and deferred taxes | 16 | €86,163 | €72,393 | -€13,770 | -16.0% |
| Deferred taxes | 168 | €86,163 | €72,393 | -€13,770 | -16.0% |
| Amounts payable | 17/49 | €209,973 | €305,438 | +€95,465 | +45.5% |
| Amounts payable after more than one year | 17 | €13,814 | €4,000 | -€9,814 | -71.0% |
| Financial debts | 170/4 | €13,814 | €4,000 | -€9,814 | -71.0% |
| Amounts payable within one year | 42/48 | €185,221 | €292,042 | +€106,821 | +57.7% |
| Current portion of amounts payable after more than one year | 42 | €9,814 | €9,814 | = | 0.0% |
| Trade debts | 44 | €34,270 | €41,354 | +€7,084 | +20.7% |
| Suppliers | 440/4 | €34,270 | €41,354 | +€7,084 | +20.7% |
| Taxes, remuneration and social security | 45 | €41,095 | €40,855 | -€240 | -0.6% |
| Taxes | 450/3 | €7,346 | €124 | -€7,221 | -98.3% |
| Remuneration and social security | 454/9 | €33,750 | €40,731 | +€6,981 | +20.7% |
| Other amounts payable | 47/48 | €100,041 | €200,019 | +€99,978 | +99.9% |
| Accrued charges and deferred income | 492/3 | €10,938 | €9,396 | -€1,542 | -14.1% |
| Remuneration, social security and pensions | 62 | €201,085 | €214,671 | +€13,586 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,922 | €66,476 | +€554 | +0.8% |
| Other operating charges | 640/8 | €884 | €530 | -€355 | -40.1% |
| Gross operating margin | 9900 | €398,071 | €451,153 | +€53,082 | +13.3% |
| Operating profit (loss) | 9901 | €130,180 | €169,477 | +€39,296 | +30.2% |
| Financial income | 75/76B | €9,451 | €12,306 | +€2,855 | +30.2% |
| Recurring financial income | 75 | €9,451 | €12,306 | +€2,855 | +30.2% |
| Financial charges | 65/66B | €8,249 | €11,441 | +€3,192 | +38.7% |
| Recurring financial charges | 65 | €8,249 | €11,441 | +€3,192 | +38.7% |
| Profit (loss) for the period before taxes | 9903 | €131,382 | €170,342 | +€38,960 | +29.7% |
| Income taxes | 67/77 | €22,447 | €7,031 | -€15,417 | -68.7% |
| Profit (loss) for the period | 9904 | €108,935 | €163,311 | +€54,376 | +49.9% |
| Transfer from tax-exempt reserves | 789 | €55,081 | €55,081 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €164,016 | €218,392 | +€54,376 | +33.2% |
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 10 October 2026 via checked.be.