MAXHOME: 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.
MAXHOME
Largest movements
- Tangible fixed assets -€3.6m
down €3.6m (-66.1%), from €5.4m to €1.8m
- Stocks and contracts -€1.7m
down €1.7m (-21.5%), from €8.1m to €6.4m
- Cash +€664,829
up €664,829 (+677.7%), from €98,101 to €762,930
mainly Investment in fixed assets (net) (+€3.4m) and Stocks and contracts (+€1.7m)
- Current investments +€184,900
new in 2025: €184,900
- Other debts -€1.7m
down €1.7m (-26.9%), from €6.5m to €4.7m
- Debts after one year -€1.4m
down €1.4m (-36.1%), from €3.9m to €2.5m
- Short-term financial debts -€1.1m
down €1.1m (-35.2%), from €3.3m to €2.1m
- Depreciation -€189,417
down €189,417 (-56.2%), from €336,968 to €147,551
- Financial charges -€138,973
down €138,973 (-23.3%), from €596,873 to €457,900
- Gross operating margin -€16,759
down €16,759 (-2.8%), from €604,829 to €588,070
- Other operating charges +€13,329
up €13,329 (+28.2%), from €47,244 to €60,573
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
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 | €13,807,714 | €9,363,343 | -€4.4m | -32.2% |
| Fixed assets | 21/28 | €5,403,636 | €1,833,893 | -€3.6m | -66.1% |
| Tangible fixed assets | 22/27 | €5,403,636 | €1,833,893 | -€3.6m | -66.1% |
| Land and buildings | 22 | €5,403,636 | €1,833,893 | -€3.6m | -66.1% |
| Current assets | 29/58 | €8,404,079 | €7,529,450 | -€874,629 | -10.4% |
| Stocks and contracts in progress | 3 | €8,088,616 | €6,352,292 | -€1.7m | -21.5% |
| Stocks | 30/36 | €8,088,616 | €6,352,292 | -€1.7m | -21.5% |
| Amounts receivable within one year | 40/41 | €200,000 | €225,410 | +€25,410 | +12.7% |
| Other amounts receivable | 41 | €200,000 | €225,410 | +€25,410 | +12.7% |
| Current investments | 50/53 | - | €184,900 | +€184,900 | |
| Cash at bank and in hand | 54/58 | €98,101 | €762,930 | +€664,829 | +677.7% |
| Deferred charges and accrued income | 490/1 | €17,362 | €3,918 | -€13,444 | -77.4% |
| Total equity and liabilities | 10/49 | €13,807,714 | €9,363,343 | -€4.4m | -32.2% |
| Equity | 10/15 | -€452,879 | -€567,241 | -€114,362 | -25.3% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €15,711 | €15,711 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,250 | €15,250 | = | 0.0% |
| Legal reserve | 130 | €15,250 | €15,250 | = | 0.0% |
| Distributable reserves | 133 | €461 | €461 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€668,590 | -€782,951 | -€114,362 | -17.1% |
| Amounts payable | 17/49 | €14,260,594 | €9,930,584 | -€4.3m | -30.4% |
| Amounts payable after more than one year | 17 | €3,945,736 | €2,521,659 | -€1.4m | -36.1% |
| Financial debts | 170/4 | €3,945,736 | €2,521,659 | -€1.4m | -36.1% |
| Amounts payable within one year | 42/48 | €10,100,458 | €7,209,147 | -€2.9m | -28.6% |
| Current portion of amounts payable after more than one year | 42 | €351,314 | €354,077 | +€2,764 | +0.8% |
| Financial debts | 43 | €3,257,500 | €2,110,000 | -€1.1m | -35.2% |
| Credit institutions | 430/8 | €3,257,500 | €2,110,000 | -€1.1m | -35.2% |
| Trade debts | 44 | €35,481 | €22,517 | -€12,963 | -36.5% |
| Suppliers | 440/4 | €35,481 | €22,517 | -€12,963 | -36.5% |
| Other amounts payable | 47/48 | €6,456,163 | €4,722,552 | -€1.7m | -26.9% |
| Accrued charges and deferred income | 492/3 | €214,399 | €199,778 | -€14,621 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €336,968 | €147,551 | -€189,417 | -56.2% |
| Other operating charges | 640/8 | €47,244 | €60,573 | +€13,329 | +28.2% |
| Non-recurring operating charges | 66A | €317 | €36,481 | +€36,163 | +11399.8% |
| Gross operating margin | 9900 | €604,829 | €588,070 | -€16,759 | -2.8% |
| Operating profit (loss) | 9901 | €220,300 | €343,466 | +€123,166 | +55.9% |
| Financial income | 75/76B | €0 | €73 | +€73 | |
| Recurring financial income | 75 | €0 | €73 | +€73 | |
| Financial charges | 65/66B | €596,873 | €457,900 | -€138,973 | -23.3% |
| Recurring financial charges | 65 | €596,873 | €457,900 | -€138,973 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | -€376,573 | -€114,362 | +€262,212 | +69.6% |
| Profit (loss) for the period | 9904 | -€376,573 | -€114,362 | +€262,212 | +69.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€376,573 | -€114,362 | +€262,212 | +69.6% |
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 29 September 2026 via checked.be.