MAXéON: 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.
MAXéON
Largest movements
- Tangible fixed assets -€841,232
down €841,232 (-5.1%), from €16.4m to €15.6m
of which Land and buildings: -€840,806
- Receivables within one year +€357,017
up €357,017 (+691.8%), from €51,609 to €408,626
of which Trade receivables: +€357,024
- Cash -€311,093
down €311,093 (-91.8%), from €338,798 to €27,705
mainly Net result for the year (-€829,902) and Debts after one year (-€629,302)
- Profit (loss) carried forward -€829,902
down €829,902 (-51.4%), from -€1.6m to -€2.4m
- Debts after one year -€629,302
down €629,302 (-13.8%), from €4.6m to €3.9m
- Trade debts +€253,240
up €253,240 (+82.7%), from €306,220 to €559,461
- Short-term financial debts +€200,000
up €200,000 (+1.7%), from €11.5m to €11.7m
of which Other loans: +€200,000
- Accrued charges and deferred income +€196,617
up €196,617 (+35.1%), from €559,613 to €756,230
- Gross operating margin -€2.0m
down €2.0m (-74.1%), from €2.6m to €683,954
- Financial charges -€853,749
down €853,749 (-66.1%), from €1.3m to €436,889
of which Non-recurring financial charges: -€506,231
- Depreciation -€567,339
down €567,339 (-37.2%), from €1.5m to €956,922
- Financial income -€142,455
down €142,455 (-77.5%), from €183,737 to €41,282
of which Non-recurring financial income: -€138,568
- Taxes -€96,467
no longer reported in 2025 (was €96,467)
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 | €16,803,108 | €16,031,549 | -€771,559 | -4.6% |
| Fixed assets | 21/28 | €16,409,343 | €15,594,122 | -€815,221 | -5.0% |
| Tangible fixed assets | 22/27 | €16,409,343 | €15,568,111 | -€841,232 | -5.1% |
| Land and buildings | 22 | €16,408,582 | €15,567,775 | -€840,806 | -5.1% |
| Furniture and vehicles | 24 | €762 | €335 | -€426 | -56.0% |
| Financial fixed assets | 28 | - | €26,012 | +€26,012 | |
| Current assets | 29/58 | €393,765 | €437,427 | +€43,662 | +11.1% |
| Amounts receivable within one year | 40/41 | €51,609 | €408,626 | +€357,017 | +691.8% |
| Trade receivables | 40 | €48,964 | €405,988 | +€357,024 | +729.2% |
| Other amounts receivable | 41 | €2,645 | €2,638 | -€7 | -0.3% |
| Cash at bank and in hand | 54/58 | €338,798 | €27,705 | -€311,093 | -91.8% |
| Deferred charges and accrued income | 490/1 | €3,358 | €1,096 | -€2,262 | -67.4% |
| Total equity and liabilities | 10/49 | €16,803,108 | €16,031,549 | -€771,559 | -4.6% |
| Equity | 10/15 | -€794,343 | -€1,624,245 | -€829,902 | -104.5% |
| Contributions | 10/11 | €818,600 | €818,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,614,803 | -€2,444,705 | -€829,902 | -51.4% |
| Amounts payable | 17/49 | €17,597,452 | €17,655,794 | +€58,343 | +0.3% |
| Amounts payable after more than one year | 17 | €4,561,823 | €3,932,521 | -€629,302 | -13.8% |
| Financial debts | 170/4 | €4,561,823 | €3,932,521 | -€629,302 | -13.8% |
| Amounts payable within one year | 42/48 | €12,476,016 | €12,967,044 | +€491,028 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €615,706 | €629,287 | +€13,581 | +2.2% |
| Financial debts | 43 | €11,543,164 | €11,743,163 | +€200,000 | +1.7% |
| Credit institutions | 430/8 | €1,082,164 | €1,082,163 | -€0 | 0.0% |
| Other loans | 439 | €10,461,000 | €10,661,000 | +€200,000 | +1.9% |
| Trade debts | 44 | €306,220 | €559,461 | +€253,240 | +82.7% |
| Suppliers | 440/4 | €306,220 | €559,461 | +€253,240 | +82.7% |
| Taxes, remuneration and social security | 45 | €9,658 | €33,954 | +€24,296 | +251.6% |
| Taxes | 450/3 | €4,138 | €22,731 | +€18,593 | +449.4% |
| Remuneration and social security | 454/9 | €5,521 | €11,223 | +€5,703 | +103.3% |
| Other amounts payable | 47/48 | €1,268 | €1,178 | -€90 | -7.1% |
| Accrued charges and deferred income | 492/3 | €559,613 | €756,230 | +€196,617 | +35.1% |
| Remuneration, social security and pensions | 62 | €91,690 | €75,947 | -€15,743 | -17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,524,261 | €956,922 | -€567,339 | -37.2% |
| Other operating charges | 640/8 | €128,705 | €85,379 | -€43,326 | -33.7% |
| Gross operating margin | 9900 | €2,637,205 | €683,954 | -€2.0m | -74.1% |
| Operating profit (loss) | 9901 | €892,549 | -€434,295 | -€1.3m | |
| Financial income | 75/76B | €183,737 | €41,282 | -€142,455 | -77.5% |
| Recurring financial income | 75 | €6,641 | €2,754 | -€3,887 | -58.5% |
| Non-recurring financial income | 76B | €177,096 | €38,528 | -€138,568 | -78.2% |
| Financial charges | 65/66B | €1,290,639 | €436,889 | -€853,749 | -66.1% |
| Recurring financial charges | 65 | €784,408 | €436,889 | -€347,519 | -44.3% |
| Non-recurring financial charges | 66B | €506,231 | - | -€506,231 | |
| Profit (loss) for the period before taxes | 9903 | -€214,352 | -€829,902 | -€615,550 | -287.2% |
| Income taxes | 67/77 | €96,467 | - | -€96,467 | |
| Profit (loss) for the period | 9904 | -€310,819 | -€829,902 | -€519,083 | -167.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€310,819 | -€829,902 | -€519,083 | -167.0% |
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 9 October 2026 via checked.be.