MAXE: 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.
MAXE
Largest movements
- Deferred charges and accrued income +€14,293
up €14,293 (+840%), from €1,702 to €15,995
- Receivables within one year -€13,930
down €13,930 (-61.6%), from €22,632 to €8,702
of which Trade receivables: -€15,065
- Tangible fixed assets -€1,056
down €1,056 (-25.4%), from €4,152 to €3,097
of which Other tangible fixed assets: -€681
- Cash -€764
down €764 (-1.7%), from €45,208 to €44,443
mainly Contributions, distributions and other (-€27,728) and Deferred charges and accrued income (-€14,293)
- Tax, wage and social debts -€6,393
down €6,393 (-84.0%), from €7,611 to €1,218
- Other debts +€5,718
up €5,718 (+18.5%), from €30,869 to €36,587
- Trade debts -€1,005
down €1,005 (-75.1%), from €1,338 to €333
- Gross operating margin -€10,241
down €10,241 (-20.8%), from €49,350 to €39,109
- Other operating charges -€3,181
down €3,181 (-78.6%), from €4,046 to €865
- Taxes -€1,115
down €1,115 (-12.6%), from €8,874 to €7,759
- Depreciation -€621
down €621 (-25.7%), from €2,415 to €1,794
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 | €73,693 | €72,237 | -€1,456 | -2.0% |
| Fixed assets | 21/28 | €4,152 | €3,097 | -€1,056 | -25.4% |
| Tangible fixed assets | 22/27 | €4,152 | €3,097 | -€1,056 | -25.4% |
| Plant, machinery and equipment | 23 | €648 | €263 | -€385 | -59.4% |
| Furniture and vehicles | 24 | €576 | €587 | +€11 | +1.8% |
| Other tangible fixed assets | 26 | €2,928 | €2,247 | -€681 | -23.2% |
| Current assets | 29/58 | €69,541 | €69,140 | -€401 | -0.6% |
| Amounts receivable within one year | 40/41 | €22,632 | €8,702 | -€13,930 | -61.6% |
| Trade receivables | 40 | €22,506 | €7,442 | -€15,065 | -66.9% |
| Other amounts receivable | 41 | €126 | €1,260 | +€1,135 | +903% |
| Cash at bank and in hand | 54/58 | €45,208 | €44,443 | -€764 | -1.7% |
| Deferred charges and accrued income | 490/1 | €1,702 | €15,995 | +€14,293 | +840% |
| Total equity and liabilities | 10/49 | €73,693 | €72,237 | -€1,456 | -2.0% |
| Equity | 10/15 | €33,033 | €33,033 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €30,533 | €30,533 | = | 0.0% |
| Distributable reserves | 133 | €30,533 | €30,533 | = | 0.0% |
| Amounts payable | 17/49 | €40,660 | €39,204 | -€1,456 | -3.6% |
| Amounts payable within one year | 42/48 | €39,818 | €38,138 | -€1,679 | -4.2% |
| Trade debts | 44 | €1,338 | €333 | -€1,005 | -75.1% |
| Suppliers | 440/4 | €1,338 | €333 | -€1,005 | -75.1% |
| Taxes, remuneration and social security | 45 | €7,611 | €1,218 | -€6,393 | -84.0% |
| Taxes | 450/3 | €7,611 | €1,218 | -€6,393 | -84.0% |
| Other amounts payable | 47/48 | €30,869 | €36,587 | +€5,718 | +18.5% |
| Accrued charges and deferred income | 492/3 | €842 | €1,065 | +€223 | +26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,415 | €1,794 | -€621 | -25.7% |
| Other operating charges | 640/8 | €4,046 | €865 | -€3,181 | -78.6% |
| Gross operating margin | 9900 | €49,350 | €39,109 | -€10,241 | -20.8% |
| Operating profit (loss) | 9901 | €42,889 | €36,450 | -€6,439 | -15.0% |
| Financial income | 75/76B | €0 | €10 | +€10 | +10,220% |
| Recurring financial income | 75 | €0 | €10 | +€10 | +10,220% |
| Financial charges | 65/66B | €1,421 | €973 | -€448 | -31.5% |
| Recurring financial charges | 65 | €1,421 | €973 | -€448 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | €41,468 | €35,487 | -€5,981 | -14.4% |
| Income taxes | 67/77 | €8,874 | €7,759 | -€1,115 | -12.6% |
| Profit (loss) for the period | 9904 | €32,593 | €27,728 | -€4,866 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,593 | €27,728 | -€4,866 | -14.9% |
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 14 October 2026 via checked.be.