MAXEMMA: 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.
MAXEMMA
Largest movements
- Tangible fixed assets -€140,821
down €140,821 (-8.7%), from €1.6m to €1.5m
of which Furniture and vehicles: -€123,356
- Cash +€37,820
up €37,820 (+4.7%), from €801,460 to €839,279
mainly Net result for the year (+€198,391) and Depreciation (+€85,685)
- Other debts -€231,607
down €231,607 (-69.5%), from €333,069 to €101,462
- Reserves +€198,300
up €198,300 (+35.2%), from €563,733 to €762,033
of which Distributable reserves: +€198,300
- Depreciation -€75,500
down €75,500 (-46.8%), from €161,184 to €85,685
- Gross operating margin +€29,813
up €29,813 (+7.2%), from €415,363 to €445,176
- Taxes +€29,208
up €29,208 (+48.5%), from €60,189 to €89,397
- Financial charges +€6,952
up €6,952 (+57.1%), from €12,175 to €19,127
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 | €2,466,227 | €2,382,300 | -€83,927 | -3.4% |
| Fixed assets | 21/28 | €1,612,848 | €1,472,027 | -€140,821 | -8.7% |
| Tangible fixed assets | 22/27 | €1,612,773 | €1,471,952 | -€140,821 | -8.7% |
| Land and buildings | 22 | €1,380,263 | €1,368,932 | -€11,331 | -0.8% |
| Plant, machinery and equipment | 23 | €29,274 | €23,139 | -€6,134 | -21.0% |
| Furniture and vehicles | 24 | €203,237 | €79,881 | -€123,356 | -60.7% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €853,378 | €910,273 | +€56,894 | +6.7% |
| Amounts receivable within one year | 40/41 | €51,919 | €70,993 | +€19,075 | +36.7% |
| Trade receivables | 40 | €51,919 | €44,638 | -€7,280 | -14.0% |
| Other amounts receivable | 41 | - | €26,355 | +€26,355 | |
| Cash at bank and in hand | 54/58 | €801,460 | €839,279 | +€37,820 | +4.7% |
| Total equity and liabilities | 10/49 | €2,466,227 | €2,382,300 | -€83,927 | -3.4% |
| Equity | 10/15 | €2,025,555 | €2,223,946 | +€198,391 | +9.8% |
| 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 | €563,733 | €762,033 | +€198,300 | +35.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €557,533 | €755,833 | +€198,300 | +35.6% |
| Profit (loss) carried forward | 14 | €1,399,822 | €1,399,913 | +€91 | 0.0% |
| Amounts payable | 17/49 | €440,672 | €158,354 | -€282,318 | -64.1% |
| Amounts payable after more than one year | 17 | €13,296 | - | -€13,296 | |
| Financial debts | 170/4 | €13,296 | - | -€13,296 | |
| Amounts payable within one year | 42/48 | €418,496 | €158,354 | -€260,142 | -62.2% |
| Current portion of amounts payable after more than one year | 42 | €25,815 | €11,669 | -€14,146 | -54.8% |
| Trade debts | 44 | €2,489 | €10,186 | +€7,697 | +309.3% |
| Suppliers | 440/4 | €2,489 | €10,186 | +€7,697 | +309.3% |
| Taxes, remuneration and social security | 45 | €57,123 | €35,038 | -€22,085 | -38.7% |
| Taxes | 450/3 | €51,761 | €29,427 | -€22,334 | -43.1% |
| Remuneration and social security | 454/9 | €5,362 | €5,611 | +€249 | +4.6% |
| Other amounts payable | 47/48 | €333,069 | €101,462 | -€231,607 | -69.5% |
| Accrued charges and deferred income | 492/3 | €8,880 | - | -€8,880 | |
| Non-recurring operating income | 76A | €16,000 | €99,372 | +€83,372 | +521.1% |
| Remuneration, social security and pensions | 62 | €45,103 | €45,921 | +€817 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161,184 | €85,685 | -€75,500 | -46.8% |
| Other operating charges | 640/8 | €8,488 | €9,039 | +€551 | +6.5% |
| Gross operating margin | 9900 | €415,363 | €445,176 | +€29,813 | +7.2% |
| Operating profit (loss) | 9901 | €200,587 | €304,532 | +€103,945 | +51.8% |
| Financial income | 75/76B | €2,155 | €2,383 | +€228 | +10.6% |
| Recurring financial income | 75 | €2,155 | €2,383 | +€228 | +10.6% |
| Financial charges | 65/66B | €12,175 | €19,127 | +€6,952 | +57.1% |
| Recurring financial charges | 65 | €12,175 | €19,127 | +€6,952 | +57.1% |
| Profit (loss) for the period before taxes | 9903 | €190,567 | €287,787 | +€97,221 | +51.0% |
| Income taxes | 67/77 | €60,189 | €89,397 | +€29,208 | +48.5% |
| Profit (loss) for the period | 9904 | €130,377 | €198,391 | +€68,013 | +52.2% |
| Profit (loss) for the period to be appropriated | 9905 | €130,377 | €198,391 | +€68,013 | +52.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.