Maxélie Management: 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.
Maxélie Management
Largest movements
- Cash +€27,666
up €27,666 (+698%), from €3,964 to €31,630
mainly Net result for the year (+€92,935) and Debts after one year (+€18,157)
- Tangible fixed assets +€24,238
up €24,238 (+104%), from €23,388 to €47,626
of which Furniture and vehicles: +€24,517
- Financial fixed assets +€15,180
up €15,180 (+1,012%), from €1,500 to €16,680
- Receivables within one year -€7,976
down €7,976 (-9.7%), from €82,100 to €74,124
of which Trade receivables: -€7,976
- Reserves +€42,935
up €42,935 (+189%), from €22,729 to €65,664
- Debts after one year +€18,157
up €18,157 (+159%), from €11,414 to €29,571
- Other debts -€9,567
down €9,567 (-15.5%), from €61,710 to €52,143
- Current portion of long-term debt +€7,305
up €7,305 (+121%), from €6,020 to €13,325
- Gross operating margin +€61,720
up €61,720 (+223%), from €27,708 to €89,428
- Financial income +€24,881
new in 2025: €24,881
of which Non-recurring financial income: +€24,880
- Taxes +€5,000
new in 2025: €5,000
- Depreciation +€4,242
up €4,242 (+41.2%), from €10,307 to €14,549
- Other operating charges -€896
down €896 (-41.3%), from €2,170 to €1,274
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 | €110,952 | €170,060 | +€59,109 | +53.3% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €24,888 | €64,306 | +€39,418 | +158% |
| Tangible fixed assets | 22/27 | €23,388 | €47,626 | +€24,238 | +104% |
| Plant, machinery and equipment | 23 | €2,124 | €1,846 | -€279 | -13.1% |
| Furniture and vehicles | 24 | €21,264 | €45,780 | +€24,517 | +115% |
| Financial fixed assets | 28 | €1,500 | €16,680 | +€15,180 | +1,012% |
| Current assets | 29/58 | €86,064 | €105,754 | +€19,691 | +22.9% |
| Amounts receivable within one year | 40/41 | €82,100 | €74,124 | -€7,976 | -9.7% |
| Trade receivables | 40 | €12,100 | €4,124 | -€7,976 | -65.9% |
| Other amounts receivable | 41 | €70,000 | €70,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,964 | €31,630 | +€27,666 | +698% |
| Total equity and liabilities | 10/49 | €110,952 | €170,060 | +€59,109 | +53.3% |
| Equity | 10/15 | €23,229 | €66,164 | +€42,935 | +185% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €22,729 | €65,664 | +€42,935 | +189% |
| Distributable reserves | 133 | €22,729 | €65,664 | +€42,935 | +189% |
| Amounts payable | 17/49 | €87,723 | €103,896 | +€16,173 | +18.4% |
| Amounts payable after more than one year | 17 | €11,414 | €29,571 | +€18,157 | +159% |
| Financial debts | 170/4 | €11,414 | €29,571 | +€18,157 | +159% |
| Amounts payable within one year | 42/48 | €76,309 | €74,325 | -€1,983 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €6,020 | €13,325 | +€7,305 | +121% |
| Trade debts | 44 | €1,078 | €1,400 | +€323 | +29.9% |
| Suppliers | 440/4 | €1,078 | €1,400 | +€323 | +29.9% |
| Taxes, remuneration and social security | 45 | €7,500 | €7,456 | -€44 | -0.6% |
| Taxes | 450/3 | €7,500 | €7,456 | -€44 | -0.6% |
| Other amounts payable | 47/48 | €61,710 | €52,143 | -€9,567 | -15.5% |
| Non-recurring operating income | 76A | - | €497 | +€497 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,307 | €14,549 | +€4,242 | +41.2% |
| Other operating charges | 640/8 | €2,170 | €1,274 | -€896 | -41.3% |
| Gross operating margin | 9900 | €27,708 | €89,428 | +€61,720 | +223% |
| Operating profit (loss) | 9901 | €15,230 | €73,605 | +€58,374 | +383% |
| Financial income | 75/76B | - | €24,881 | +€24,881 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Non-recurring financial income | 76B | - | €24,880 | +€24,880 | |
| Financial charges | 65/66B | €541 | €550 | +€9 | +1.7% |
| Recurring financial charges | 65 | €541 | €550 | +€9 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €14,689 | €97,935 | +€83,246 | +567% |
| Income taxes | 67/77 | - | €5,000 | +€5,000 | |
| Profit (loss) for the period | 9904 | €14,689 | €92,935 | +€78,246 | +533% |
| Profit (loss) for the period to be appropriated | 9905 | €14,689 | €92,935 | +€78,246 | +533% |
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 20 October 2026 via checked.be.