MAXfood: 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.
MAXfood
Largest movements
- Stocks and contracts -€59,290
down €59,290 (-14.9%), from €398,310 to €339,020
- Receivables within one year -€43,645
down €43,645 (-13.7%), from €319,204 to €275,558
of which Other amounts receivable: -€36,257
- Intangible fixed assets -€23,000
down €23,000 (-11.4%), from €200,992 to €177,992
- Tangible fixed assets -€11,000
down €11,000 (-19.8%), from €55,488 to €44,488
of which Plant, machinery and equipment: -€11,000
- Trade debts -€234,420
down €234,420 (-37.8%), from €620,458 to €386,038
- Reserves +€88,309
up €88,309 (+63.3%), from €139,554 to €227,863
- Tax, wage and social debts +€25,466
up €25,466 (+131%), from €19,460 to €44,927
of which Remuneration and social security: +€32,236
- Other debts -€23,396
down €23,396 (-58.3%), from €40,145 to €16,749
- Gross operating margin +€23,980
up €23,980 (+5.9%), from €407,342 to €431,322
- Financial income -€18,055
down €18,055 (-91.0%), from €19,835 to €1,780
- Staff costs +€12,949
up €12,949 (+4.9%), from €262,970 to €275,919
- Financial charges -€4,812
down €4,812 (-96.1%), from €5,009 to €196
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 | €992,460 | €848,420 | -€144,041 | -14.5% |
| Fixed assets | 21/28 | €272,400 | €232,479 | -€39,921 | -14.7% |
| Intangible fixed assets | 21 | €200,992 | €177,992 | -€23,000 | -11.4% |
| Tangible fixed assets | 22/27 | €55,488 | €44,488 | -€11,000 | -19.8% |
| Plant, machinery and equipment | 23 | €55,488 | €44,488 | -€11,000 | -19.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €15,921 | €10,000 | -€5,921 | -37.2% |
| Current assets | 29/58 | €720,060 | €615,940 | -€104,120 | -14.5% |
| Stocks and contracts in progress | 3 | €398,310 | €339,020 | -€59,290 | -14.9% |
| Stocks | 30/36 | €398,310 | €339,020 | -€59,290 | -14.9% |
| Amounts receivable within one year | 40/41 | €319,204 | €275,558 | -€43,645 | -13.7% |
| Trade receivables | 40 | €277,600 | €270,211 | -€7,388 | -2.7% |
| Other amounts receivable | 41 | €41,604 | €5,347 | -€36,257 | -87.1% |
| Cash at bank and in hand | 54/58 | €2,352 | €1,362 | -€990 | -42.1% |
| Deferred charges and accrued income | 490/1 | €194 | €0 | -€194 | -100% |
| Total equity and liabilities | 10/49 | €992,460 | €848,420 | -€144,041 | -14.5% |
| Equity | 10/15 | €141,554 | €229,863 | +€88,309 | +62.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €139,554 | €227,863 | +€88,309 | +63.3% |
| Distributable reserves | 133 | €139,554 | €227,863 | +€88,309 | +63.3% |
| Amounts payable | 17/49 | €850,906 | €618,557 | -€232,349 | -27.3% |
| Amounts payable after more than one year | 17 | €170,844 | €170,844 | = | 0.0% |
| Financial debts | 170/4 | €170,844 | €170,844 | = | 0.0% |
| Amounts payable within one year | 42/48 | €680,063 | €447,714 | -€232,349 | -34.2% |
| Trade debts | 44 | €620,458 | €386,038 | -€234,420 | -37.8% |
| Suppliers | 440/4 | €620,458 | €386,038 | -€234,420 | -37.8% |
| Taxes, remuneration and social security | 45 | €19,460 | €44,927 | +€25,466 | +131% |
| Taxes | 450/3 | €17,120 | €10,350 | -€6,770 | -39.5% |
| Remuneration and social security | 454/9 | €2,340 | €34,576 | +€32,236 | +1,377% |
| Other amounts payable | 47/48 | €40,145 | €16,749 | -€23,396 | -58.3% |
| Remuneration, social security and pensions | 62 | €262,970 | €275,919 | +€12,949 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,000 | €34,000 | = | 0.0% |
| Other operating charges | 640/8 | €3,617 | €2,494 | -€1,123 | -31.0% |
| Non-recurring operating charges | 66A | €1,150 | €2,531 | +€1,381 | +120% |
| Gross operating margin | 9900 | €407,342 | €431,322 | +€23,980 | +5.9% |
| Operating profit (loss) | 9901 | €105,605 | €116,378 | +€10,773 | +10.2% |
| Financial income | 75/76B | €19,835 | €1,780 | -€18,055 | -91.0% |
| Recurring financial income | 75 | €19,835 | €1,780 | -€18,055 | -91.0% |
| Financial charges | 65/66B | €5,009 | €196 | -€4,812 | -96.1% |
| Recurring financial charges | 65 | €5,009 | €196 | -€4,812 | -96.1% |
| Profit (loss) for the period before taxes | 9903 | €120,432 | €117,962 | -€2,470 | -2.1% |
| Income taxes | 67/77 | €30,687 | €29,653 | -€1,034 | -3.4% |
| Profit (loss) for the period | 9904 | €89,745 | €88,309 | -€1,436 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €89,745 | €88,309 | -€1,436 | -1.6% |
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 19 October 2026 via checked.be.