Maxett: 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.
Maxett
Largest movements
- Current investments -€215,235
down €215,235 (-78.1%), from €275,610 to €60,375
- Cash -€174,873
down €174,873 (-68.0%), from €257,172 to €82,300
mainly Contributions, distributions and other (-€470,512) and Accrued charges and deferred income (-€147,456)
- Deferred charges and accrued income -€98,547
down €98,547 (-95.8%), from €102,835 to €4,288
- Tangible fixed assets -€32,879
down €32,879 (-8.0%), from €411,328 to €378,449
of which Land and buildings: -€18,433
- Receivables within one year -€13,446
down €13,446 (-94.5%), from €14,224 to €778
of which Other amounts receivable: -€6,736
- Reserves -€470,512
down €470,512 (-88.4%), from €532,107 to €61,595
of which Distributable reserves: -€470,512
- Other debts +€201,801
up €201,801 (+674%), from €29,946 to €231,747
- Accrued charges and deferred income -€147,456
no longer reported in 2025 (was €147,456)
- Profit (loss) carried forward -€81,959
down €81,959 (-46.9%), from €174,850 to €92,891
- Tax, wage and social debts -€23,656
down €23,656 (-98.8%), from €23,944 to €289
of which Taxes: -€23,777
- Gross operating margin -€321,776
down €321,776, from €293,789 to -€27,987
- Taxes -€61,600
down €61,600 (-99.4%), from €61,997 to €398
- Depreciation -€4,721
down €4,721 (-12.6%), from €37,600 to €32,879
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 | €1,061,195 | €526,216 | -€534,979 | -50.4% |
| Fixed assets | 21/28 | €411,353 | €378,474 | -€32,879 | -8.0% |
| Tangible fixed assets | 22/27 | €411,328 | €378,449 | -€32,879 | -8.0% |
| Land and buildings | 22 | €391,105 | €372,672 | -€18,433 | -4.7% |
| Furniture and vehicles | 24 | €20,223 | €5,778 | -€14,445 | -71.4% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €649,842 | €147,742 | -€502,101 | -77.3% |
| Amounts receivable within one year | 40/41 | €14,224 | €778 | -€13,446 | -94.5% |
| Trade receivables | 40 | €6,710 | - | -€6,710 | |
| Other amounts receivable | 41 | €7,514 | €778 | -€6,736 | -89.6% |
| Current investments | 50/53 | €275,610 | €60,375 | -€215,235 | -78.1% |
| Cash at bank and in hand | 54/58 | €257,172 | €82,300 | -€174,873 | -68.0% |
| Deferred charges and accrued income | 490/1 | €102,835 | €4,288 | -€98,547 | -95.8% |
| Total equity and liabilities | 10/49 | €1,061,195 | €526,216 | -€534,979 | -50.4% |
| Equity | 10/15 | €719,358 | €166,886 | -€552,472 | -76.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €532,107 | €61,595 | -€470,512 | -88.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €530,247 | €59,735 | -€470,512 | -88.7% |
| Profit (loss) carried forward | 14 | €174,850 | €92,891 | -€81,959 | -46.9% |
| Amounts payable | 17/49 | €341,838 | €359,330 | +€17,492 | +5.1% |
| Amounts payable after more than one year | 17 | €122,220 | €107,611 | -€14,609 | -12.0% |
| Financial debts | 170/4 | €122,220 | €107,611 | -€14,609 | -12.0% |
| Amounts payable within one year | 42/48 | €72,162 | €251,719 | +€179,558 | +249% |
| Current portion of amounts payable after more than one year | 42 | €15,281 | €15,281 | = | 0.0% |
| Trade debts | 44 | €2,990 | €4,402 | +€1,412 | +47.2% |
| Suppliers | 440/4 | €2,990 | €4,402 | +€1,412 | +47.2% |
| Taxes, remuneration and social security | 45 | €23,944 | €289 | -€23,656 | -98.8% |
| Taxes | 450/3 | €23,944 | €168 | -€23,777 | -99.3% |
| Remuneration and social security | 454/9 | - | €121 | +€121 | |
| Other amounts payable | 47/48 | €29,946 | €231,747 | +€201,801 | +674% |
| Accrued charges and deferred income | 492/3 | €147,456 | - | -€147,456 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,600 | €32,879 | -€4,721 | -12.6% |
| Other operating charges | 640/8 | €1,423 | €998 | -€424 | -29.8% |
| Gross operating margin | 9900 | €293,789 | -€27,987 | -€321,776 | |
| Operating profit (loss) | 9901 | €254,766 | -€61,864 | -€316,630 | |
| Financial income | 75/76B | €0 | €4 | +€4 | +6,983% |
| Recurring financial income | 75 | €0 | €4 | +€4 | +6,983% |
| Financial charges | 65/66B | €17,919 | €19,702 | +€1,783 | +10.0% |
| Recurring financial charges | 65 | €17,919 | €19,702 | +€1,783 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | €236,847 | -€81,562 | -€318,409 | |
| Income taxes | 67/77 | €61,997 | €398 | -€61,600 | -99.4% |
| Profit (loss) for the period | 9904 | €174,850 | -€81,959 | -€256,809 | |
| Profit (loss) for the period to be appropriated | 9905 | €174,850 | -€81,959 | -€256,809 |
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 23 October 2026 via checked.be.