Maxflor: 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.
Maxflor
Largest movements
- Receivables within one year -€6,718
down €6,718 (-23.5%), from €28,624 to €21,906
of which Trade receivables: -€15,020
- Tangible fixed assets -€2,182
down €2,182 (-5.0%), from €44,014 to €41,832
of which Furniture and vehicles: -€2,182
- Reserves -€10,494
down €10,494 (-47.3%), from €22,177 to €11,683
- Other debts +€6,269
up €6,269 (+47.1%), from €13,319 to €19,588
- Short-term financial debts -€3,687
down €3,687 (-16.8%), from €21,978 to €18,292
- Gross operating margin -€21,048
down €21,048, from €18,074 to -€2,974
- Taxes -€3,520
down €3,520 (-95.9%), from €3,669 to €149
- Depreciation -€768
down €768 (-26.0%), from €2,950 to €2,182
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €72,638 | €64,414 | -€8,224 | -11.3% |
| Fixed assets | 21/28 | €44,014 | €41,832 | -€2,182 | -5.0% |
| Tangible fixed assets | 22/27 | €44,014 | €41,832 | -€2,182 | -5.0% |
| Land and buildings | 22 | €41,832 | €41,832 | = | 0.0% |
| Furniture and vehicles | 24 | €2,182 | €0 | -€2,182 | -100.0% |
| Current assets | 29/58 | €28,624 | €22,582 | -€6,042 | -21.1% |
| Stocks and contracts in progress | 3 | - | €676 | +€676 | |
| Stocks | 30/36 | - | €676 | +€676 | |
| Amounts receivable within one year | 40/41 | €28,624 | €21,906 | -€6,718 | -23.5% |
| Trade receivables | 40 | €27,807 | €12,787 | -€15,020 | -54.0% |
| Other amounts receivable | 41 | €817 | €9,119 | +€8,302 | +1016.4% |
| Total equity and liabilities | 10/49 | €72,638 | €64,414 | -€8,224 | -11.3% |
| Equity | 10/15 | €28,377 | €17,883 | -€10,494 | -37.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €22,177 | €11,683 | -€10,494 | -47.3% |
| Distributable reserves | 133 | €22,177 | €11,683 | -€10,494 | -47.3% |
| Amounts payable | 17/49 | €44,261 | €46,531 | +€2,270 | +5.1% |
| Amounts payable within one year | 42/48 | €44,261 | €46,531 | +€2,270 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €21,978 | €18,292 | -€3,687 | -16.8% |
| Credit institutions | 430/8 | €21,978 | €18,292 | -€3,687 | -16.8% |
| Trade debts | 44 | €4,005 | €3,951 | -€54 | -1.3% |
| Suppliers | 440/4 | €4,005 | €3,951 | -€54 | -1.3% |
| Taxes, remuneration and social security | 45 | €4,959 | €4,701 | -€258 | -5.2% |
| Taxes | 450/3 | €4,959 | €4,701 | -€258 | -5.2% |
| Other amounts payable | 47/48 | €13,319 | €19,588 | +€6,269 | +47.1% |
| Non-recurring operating income | 76A | - | €100 | +€100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,950 | €2,182 | -€768 | -26.0% |
| Other operating charges | 640/8 | €1,501 | €1,488 | -€12 | -0.8% |
| Gross operating margin | 9900 | €18,074 | -€2,974 | -€21,048 | |
| Operating profit (loss) | 9901 | €13,623 | -€6,645 | -€20,267 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €3,584 | €3,701 | +€117 | +3.3% |
| Recurring financial charges | 65 | €3,584 | €3,701 | +€117 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €10,039 | -€10,345 | -€20,385 | |
| Income taxes | 67/77 | €3,669 | €149 | -€3,520 | -95.9% |
| Profit (loss) for the period | 9904 | €6,370 | -€10,494 | -€16,864 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,370 | -€10,494 | -€16,864 |
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 6 October 2026 via checked.be.