MAXI-INTERNATIONAL: 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.
MAXI-INTERNATIONAL
Largest movements
- Tangible fixed assets +€186,392
up €186,392 (+3.1%), from €6.1m to €6.3m
of which Assets under construction and advance payments: +€226,680
- Debts after one year +€387,385
up €387,385 (+10.4%), from €3.7m to €4.1m
of which Financial debts: +€387,891
- Profit (loss) carried forward -€241,953
down €241,953 (-23.2%), from -€1.0m to -€1.3m
- Depreciation +€18,650
up €18,650 (+14.4%), from €129,569 to €148,219
- Other operating charges -€3,412
down €3,412 (-3.5%), from €97,299 to €93,887
- Gross operating margin -€135
down €135 (-46.9%), from €288 to €153
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 | €6,651,447 | €6,805,768 | +€154,321 | +2.3% |
| Formation expenses | 20 | €14,440 | - | -€14,440 | |
| Fixed assets | 21/28 | €6,283,411 | €6,469,803 | +€186,392 | +3.0% |
| Tangible fixed assets | 22/27 | €6,108,411 | €6,294,803 | +€186,392 | +3.1% |
| Land and buildings | 22 | €4,552,697 | €4,512,409 | -€40,288 | -0.9% |
| Assets under construction and advance payments | 27 | €1,555,714 | €1,782,394 | +€226,680 | +14.6% |
| Financial fixed assets | 28 | €175,000 | €175,000 | = | 0.0% |
| Current assets | 29/58 | €353,595 | €335,964 | -€17,631 | -5.0% |
| Amounts receivable within one year | 40/41 | €35,166 | €35,166 | = | 0.0% |
| Trade receivables | 40 | €6,366 | €6,366 | = | 0.0% |
| Other amounts receivable | 41 | €28,800 | €28,800 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €30,929 | €13,298 | -€17,631 | -57.0% |
| Deferred charges and accrued income | 490/1 | €287,500 | €287,500 | = | 0.0% |
| Total equity and liabilities | 10/49 | €6,651,447 | €6,805,768 | +€154,321 | +2.3% |
| Equity | 10/15 | €2,900,639 | €2,658,686 | -€241,953 | -8.3% |
| Contributions | 10/11 | €375,000 | €375,000 | = | 0.0% |
| Capital | 10 | €375,000 | €375,000 | = | 0.0% |
| Issued capital | 100 | €375,000 | €375,000 | = | 0.0% |
| Revaluation surpluses | 12 | €3,561,563 | €3,561,563 | = | 0.0% |
| Reserves | 13 | €8,032 | €8,032 | = | 0.0% |
| Distributable reserves | 133 | €8,032 | €8,032 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,043,955 | -€1,285,909 | -€241,953 | -23.2% |
| Amounts payable | 17/49 | €3,750,807 | €4,147,082 | +€396,274 | +10.6% |
| Amounts payable after more than one year | 17 | €3,711,648 | €4,099,033 | +€387,385 | +10.4% |
| Financial debts | 170/4 | €3,702,172 | €4,090,062 | +€387,891 | +10.5% |
| Trade debts | 175 | €8,152 | €8,152 | = | 0.0% |
| Other amounts payable | 178/9 | €1,324 | €819 | -€506 | -38.2% |
| Amounts payable within one year | 42/48 | €39,159 | €48,049 | +€8,889 | +22.7% |
| Trade debts | 44 | €39,159 | €48,049 | +€8,889 | +22.7% |
| Suppliers | 440/4 | €39,159 | €48,049 | +€8,889 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129,569 | €148,219 | +€18,650 | +14.4% |
| Other operating charges | 640/8 | €97,299 | €93,887 | -€3,412 | -3.5% |
| Gross operating margin | 9900 | €288 | €153 | -€135 | -46.9% |
| Operating profit (loss) | 9901 | -€226,580 | -€241,953 | -€15,373 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | -€226,580 | -€241,953 | -€15,373 | -6.8% |
| Profit (loss) for the period | 9904 | -€226,580 | -€241,953 | -€15,373 | -6.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€226,580 | -€241,953 | -€15,373 | -6.8% |
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 16 October 2026 via checked.be.