MAXEL GROUPE: 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.
MAXEL GROUPE
Largest movements
- Cash -€216,993
down €216,993 (-88.9%), from €244,033 to €27,040
mainly Contributions, distributions and other (-€720,369) and Other debts (-€207,099)
- Other debts -€207,099
down €207,099 (-22.3%), from €927,468 to €720,369
- Gross operating margin -€195,579
down €195,579 (-20.7%), from €943,625 to €748,046
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 | €10,220,338 | €10,043,232 | -€177,106 | -1.7% |
| Fixed assets | 21/28 | €9,278,293 | €9,278,293 | = | 0.0% |
| Financial fixed assets | 28 | €9,278,293 | €9,278,293 | = | 0.0% |
| Current assets | 29/58 | €942,045 | €764,939 | -€177,106 | -18.8% |
| Amounts receivable within one year | 40/41 | €12 | €3,816 | +€3,804 | +32,351% |
| Other amounts receivable | 41 | €12 | €3,816 | +€3,804 | +32,351% |
| Cash at bank and in hand | 54/58 | €244,033 | €27,040 | -€216,993 | -88.9% |
| Deferred charges and accrued income | 490/1 | €698,000 | €734,082 | +€36,082 | +5.2% |
| Total equity and liabilities | 10/49 | €10,220,338 | €10,043,232 | -€177,106 | -1.7% |
| Equity | 10/15 | €9,291,101 | €9,310,769 | +€19,668 | +0.2% |
| Contributions | 10/11 | €9,287,292 | €9,287,292 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,808 | €23,477 | +€19,668 | +516% |
| Amounts payable | 17/49 | €929,237 | €732,463 | -€196,774 | -21.2% |
| Amounts payable within one year | 42/48 | €929,237 | €732,463 | -€196,774 | -21.2% |
| Trade debts | 44 | €500 | €4,268 | +€3,769 | +754% |
| Suppliers | 440/4 | €500 | €4,268 | +€3,769 | +754% |
| Taxes, remuneration and social security | 45 | €1,269 | €7,826 | +€6,556 | +516% |
| Taxes | 450/3 | €1,269 | €7,826 | +€6,556 | +516% |
| Other amounts payable | 47/48 | €927,468 | €720,369 | -€207,099 | -22.3% |
| Other operating charges | 640/8 | €467 | €1,078 | +€611 | +131% |
| Gross operating margin | 9900 | €943,625 | €748,046 | -€195,579 | -20.7% |
| Operating profit (loss) | 9901 | €943,158 | €746,968 | -€196,190 | -20.8% |
| Financial charges | 65/66B | €163 | €374 | +€212 | +130% |
| Recurring financial charges | 65 | €163 | €374 | +€212 | +130% |
| Profit (loss) for the period before taxes | 9903 | €942,995 | €746,594 | -€196,402 | -20.8% |
| Income taxes | 67/77 | €1,269 | €6,556 | +€5,287 | +416% |
| Profit (loss) for the period | 9904 | €941,726 | €740,037 | -€201,688 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €941,726 | €740,037 | -€201,688 | -21.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.