MAXENTA: 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.
MAXENTA
Largest movements
- Cash -€36,826
down €36,826 (-59.7%), from €61,727 to €24,901
mainly Contributions, distributions and other (-€45,000) and Receivables within one year (-€18,323)
- Receivables within one year +€18,323
up €18,323 (+371.9%), from €4,927 to €23,250
of which Trade receivables: +€18,642
- Tangible fixed assets +€6,072
up €6,072 (+145.4%), from €4,175 to €10,246
- Financial fixed assets -€2,103
down €2,103 (-30.0%), from €7,020 to €4,917
- Reserves -€37,620
down €37,620 (-69.8%), from €53,895 to €16,276
- Trade debts +€14,253
up €14,253 (+901.1%), from €1,582 to €15,835
- Other debts +€4,686
up €4,686 (+41.4%), from €11,319 to €16,005
- Tax, wage and social debts +€3,929
up €3,929 (+34.9%), from €11,259 to €15,188
of which Taxes: +€3,929
- Gross operating margin -€12,332
down €12,332 (-47.4%), from €25,995 to €13,663
- Taxes -€4,262
down €4,262 (-73.1%), from €5,828 to €1,566
- Financial income +€3,740
up €3,740 (+8049.2%), from €46 to €3,786
- Depreciation +€2,460
up €2,460 (+50.3%), from €4,889 to €7,349
- Financial charges -€290
down €290 (-44.8%), from €648 to €358
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 | €78,066 | €63,314 | -€14,751 | -18.9% |
| Fixed assets | 21/28 | €11,195 | €15,163 | +€3,968 | +35.4% |
| Tangible fixed assets | 22/27 | €4,175 | €10,246 | +€6,072 | +145.4% |
| Furniture and vehicles | 24 | €4,175 | €10,246 | +€6,072 | +145.4% |
| Financial fixed assets | 28 | €7,020 | €4,917 | -€2,103 | -30.0% |
| Current assets | 29/58 | €66,871 | €48,151 | -€18,720 | -28.0% |
| Amounts receivable within one year | 40/41 | €4,927 | €23,250 | +€18,323 | +371.9% |
| Trade receivables | 40 | €4,248 | €22,890 | +€18,642 | +438.8% |
| Other amounts receivable | 41 | €679 | €360 | -€319 | -46.9% |
| Cash at bank and in hand | 54/58 | €61,727 | €24,901 | -€36,826 | -59.7% |
| Deferred charges and accrued income | 490/1 | €216 | €0 | -€216 | -100.0% |
| Total equity and liabilities | 10/49 | €78,066 | €63,314 | -€14,751 | -18.9% |
| Equity | 10/15 | €53,905 | €16,286 | -€37,620 | -69.8% |
| Contributions | 10/11 | €10 | €10 | = | 0.0% |
| Reserves | 13 | €53,895 | €16,276 | -€37,620 | -69.8% |
| Distributable reserves | 133 | €53,895 | €16,276 | -€37,620 | -69.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €24,160 | €47,028 | +€22,868 | +94.7% |
| Amounts payable within one year | 42/48 | €24,160 | €47,028 | +€22,868 | +94.7% |
| Trade debts | 44 | €1,582 | €15,835 | +€14,253 | +901.1% |
| Suppliers | 440/4 | €1,582 | €15,835 | +€14,253 | +901.1% |
| Taxes, remuneration and social security | 45 | €11,259 | €15,188 | +€3,929 | +34.9% |
| Taxes | 450/3 | €9,259 | €13,188 | +€3,929 | +42.4% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €11,319 | €16,005 | +€4,686 | +41.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,889 | €7,349 | +€2,460 | +50.3% |
| Other operating charges | 640/8 | €531 | €797 | +€266 | +50.1% |
| Gross operating margin | 9900 | €25,995 | €13,663 | -€12,332 | -47.4% |
| Operating profit (loss) | 9901 | €20,575 | €5,517 | -€15,058 | -73.2% |
| Financial income | 75/76B | €46 | €3,786 | +€3,740 | +8049.2% |
| Recurring financial income | 75 | €46 | €3,786 | +€3,740 | +8049.2% |
| Financial charges | 65/66B | €648 | €358 | -€290 | -44.8% |
| Recurring financial charges | 65 | €648 | €358 | -€290 | -44.8% |
| Profit (loss) for the period before taxes | 9903 | €19,973 | €8,946 | -€11,028 | -55.2% |
| Income taxes | 67/77 | €5,828 | €1,566 | -€4,262 | -73.1% |
| Profit (loss) for the period | 9904 | €14,146 | €7,380 | -€6,766 | -47.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,146 | €7,380 | -€6,766 | -47.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.