MAXEST FINANCE: 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.
MAXEST FINANCE
Largest movements
- Tangible fixed assets -€53,889
down €53,889 (-27.7%), from €194,432 to €140,542
- Receivables within one year +€4,278
up €4,278 (+18.6%), from €23,011 to €27,290
- Cash -€3,962
down €3,962 (-22.9%), from €17,289 to €13,327
mainly Debts after one year (-€39,304) and Net result for the year (-€10,382)
- Debts after one year -€39,304
down €39,304 (-39.7%), from €99,097 to €59,793
- Profit (loss) carried forward -€10,382
down €10,382 (-46.4%), from €22,375 to €11,993
- Tax, wage and social debts -€3,997
no longer reported in 2026 (was €3,997)
- Depreciation +€26,945
up €26,945 (+100%), from €26,945 to €53,889
- Taxes -€4,051
no longer reported in 2026 (was €4,051)
- Financial charges -€1,781
down €1,781 (-23.6%), from €7,561 to €5,780
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €234,732 | €181,159 | -€53,572 | -22.8% |
| Fixed assets | 21/28 | €194,432 | €140,542 | -€53,889 | -27.7% |
| Tangible fixed assets | 22/27 | €194,432 | €140,542 | -€53,889 | -27.7% |
| Plant, machinery and equipment | 23 | €194,432 | €140,542 | -€53,889 | -27.7% |
| Current assets | 29/58 | €40,300 | €40,617 | +€317 | +0.8% |
| Amounts receivable within one year | 40/41 | €23,011 | €27,290 | +€4,278 | +18.6% |
| Other amounts receivable | 41 | €23,011 | €27,290 | +€4,278 | +18.6% |
| Cash at bank and in hand | 54/58 | €17,289 | €13,327 | -€3,962 | -22.9% |
| Total equity and liabilities | 10/49 | €234,732 | €181,159 | -€53,572 | -22.8% |
| Equity | 10/15 | €22,575 | €12,193 | -€10,382 | -46.0% |
| Contributions | 10/11 | €200 | €200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,375 | €11,993 | -€10,382 | -46.4% |
| Amounts payable | 17/49 | €212,157 | €168,966 | -€43,191 | -20.4% |
| Amounts payable after more than one year | 17 | €99,097 | €59,793 | -€39,304 | -39.7% |
| Financial debts | 170/4 | €99,097 | €59,793 | -€39,304 | -39.7% |
| Amounts payable within one year | 42/48 | €113,060 | €109,173 | -€3,887 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €39,304 | €39,304 | = | 0.0% |
| Trade debts | 44 | €313 | €424 | +€110 | +35.1% |
| Suppliers | 440/4 | €313 | €424 | +€110 | +35.1% |
| Taxes, remuneration and social security | 45 | €3,997 | - | -€3,997 | |
| Taxes | 450/3 | €3,997 | - | -€3,997 | |
| Other amounts payable | 47/48 | €69,446 | €69,446 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,945 | €53,889 | +€26,945 | +100% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €49,878 | €49,807 | -€71 | -0.1% |
| Operating profit (loss) | 9901 | €22,428 | -€4,602 | -€27,030 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €7,561 | €5,780 | -€1,781 | -23.6% |
| Recurring financial charges | 65 | €7,561 | €5,780 | -€1,781 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €14,867 | -€10,382 | -€25,249 | |
| Income taxes | 67/77 | €4,051 | - | -€4,051 | |
| Profit (loss) for the period | 9904 | €10,816 | -€10,382 | -€21,197 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,816 | -€10,382 | -€21,197 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.