MAXGIL: 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.
MAXGIL
Largest movements
- Tangible fixed assets -€16,817
down €16,817 (-3.1%), from €535,213 to €518,396
of which Land and buildings: -€14,305
- Receivables within one year +€7,623
up €7,623 (+32.6%), from €23,402 to €31,026
of which Trade receivables: +€11,162
- Cash +€6,342
up €6,342 (+35.4%), from €17,910 to €24,251
mainly Net result for the year (+€44,177) and Short-term financial debts (+€25,000)
- Debts after one year -€71,498
down €71,498 (-16.2%), from €442,331 to €370,833
- Profit (loss) carried forward +€44,177
up €44,177 (+23.1%), from -€191,628 to -€147,451
- Short-term financial debts +€25,000
up €25,000 (+33.3%), from €75,000 to €100,000
- Other operating charges -€30,715
down €30,715 (-93.6%), from €32,806 to €2,091
- Gross operating margin -€2,234
down €2,234 (-3.0%), from €74,342 to €72,108
- Financial charges -€1,437
down €1,437 (-15.9%), from €9,013 to €7,576
of which Financial charges: -€1,202
- Taxes -€767
down €767 (-92.6%), from €828 to €61
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 | €628,117 | €623,531 | -€4,586 | -0.7% |
| Fixed assets | 21/28 | €535,213 | €518,396 | -€16,817 | -3.1% |
| Tangible fixed assets | 22/27 | €535,213 | €518,396 | -€16,817 | -3.1% |
| Land and buildings | 22 | €529,868 | €515,564 | -€14,305 | -2.7% |
| Furniture and vehicles | 24 | €5,345 | €2,833 | -€2,512 | -47.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €92,904 | €105,134 | +€12,231 | +13.2% |
| Stocks and contracts in progress | 3 | €49,180 | €49,180 | = | 0.0% |
| Stocks | 30/36 | €49,180 | €49,180 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €23,402 | €31,026 | +€7,623 | +32.6% |
| Trade receivables | 40 | €19,864 | €31,026 | +€11,162 | +56.2% |
| Other amounts receivable | 41 | €3,538 | €0 | -€3,538 | -100% |
| Cash at bank and in hand | 54/58 | €17,910 | €24,251 | +€6,342 | +35.4% |
| Deferred charges and accrued income | 490/1 | €2,412 | €677 | -€1,734 | -71.9% |
| Total equity and liabilities | 10/49 | €628,117 | €623,531 | -€4,586 | -0.7% |
| Equity | 10/15 | €58,372 | €102,549 | +€44,177 | +75.7% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€191,628 | -€147,451 | +€44,177 | +23.1% |
| Amounts payable | 17/49 | €569,744 | €520,982 | -€48,763 | -8.6% |
| Amounts payable after more than one year | 17 | €442,331 | €370,833 | -€71,498 | -16.2% |
| Financial debts | 170/4 | €442,331 | €370,833 | -€71,498 | -16.2% |
| Amounts payable within one year | 42/48 | €127,414 | €150,149 | +€22,735 | +17.8% |
| Current portion of amounts payable after more than one year | 42 | €21,281 | €21,498 | +€217 | +1.0% |
| Financial debts | 43 | €75,000 | €100,000 | +€25,000 | +33.3% |
| Credit institutions | 430/8 | €75,000 | €100,000 | +€25,000 | +33.3% |
| Trade debts | 44 | €22,963 | €19,164 | -€3,799 | -16.5% |
| Suppliers | 440/4 | €22,963 | €19,164 | -€3,799 | -16.5% |
| Taxes, remuneration and social security | 45 | €1,738 | €5,988 | +€4,250 | +245% |
| Taxes | 450/3 | €1,738 | €5,988 | +€4,250 | +245% |
| Other amounts payable | 47/48 | €6,432 | €3,499 | -€2,932 | -45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,138 | €18,305 | +€167 | +0.9% |
| Other operating charges | 640/8 | €32,806 | €2,091 | -€30,715 | -93.6% |
| Gross operating margin | 9900 | €74,342 | €72,108 | -€2,234 | -3.0% |
| Operating profit (loss) | 9901 | €23,399 | €51,713 | +€28,314 | +121% |
| Financial income | 75/76B | €0 | €101 | +€101 | +168,100% |
| Recurring financial income | 75 | €0 | €101 | +€101 | +168,100% |
| Financial charges | 65/66B | €9,013 | €7,576 | -€1,437 | -15.9% |
| Recurring financial charges | 65 | €8,778 | €7,576 | -€1,202 | -13.7% |
| Non-recurring financial charges | 66B | €235 | €0 | -€235 | -100% |
| Profit (loss) for the period before taxes | 9903 | €14,386 | €44,238 | +€29,852 | +208% |
| Income taxes | 67/77 | €828 | €61 | -€767 | -92.6% |
| Profit (loss) for the period | 9904 | €13,558 | €44,177 | +€30,619 | +226% |
| Profit (loss) for the period to be appropriated | 9905 | €13,558 | €44,177 | +€30,619 | +226% |
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 28 October 2026 via checked.be.