Maxicredi: 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.
Maxicredi
Largest movements
- Tangible fixed assets -€30,245
down €30,245 (-17.9%), from €169,419 to €139,173
of which Furniture and vehicles: -€19,897
- Cash -€13,631
down €13,631 (-7.7%), from €176,285 to €162,654
mainly Net result for the year (-€14,734) and Debts after one year (-€14,605)
- Receivables within one year +€5,153
up €5,153 (+13.2%), from €39,097 to €44,250
of which Other amounts receivable: +€6,575
- Reserves -€14,734
down €14,734 (-5.5%), from €269,596 to €254,862
of which Distributable reserves: -€14,734
- Debts after one year -€14,605
down €14,605 (-23.5%), from €62,180 to €47,575
- Tax, wage and social debts -€7,387
no longer reported in 2025 (was €7,387)
- Gross operating margin -€16,749
down €16,749 (-16.8%), from €99,791 to €83,042
- Staff costs -€13,865
down €13,865 (-18.8%), from €73,726 to €59,861
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 | €388,930 | €350,207 | -€38,723 | -10.0% |
| Fixed assets | 21/28 | €169,419 | €139,173 | -€30,245 | -17.9% |
| Tangible fixed assets | 22/27 | €169,419 | €139,173 | -€30,245 | -17.9% |
| Land and buildings | 22 | €78,287 | €70,783 | -€7,504 | -9.6% |
| Plant, machinery and equipment | 23 | €7,432 | €4,587 | -€2,845 | -38.3% |
| Furniture and vehicles | 24 | €71,200 | €51,303 | -€19,897 | -27.9% |
| Other tangible fixed assets | 26 | €12,500 | €12,500 | = | 0.0% |
| Current assets | 29/58 | €219,511 | €211,033 | -€8,478 | -3.9% |
| Amounts receivable within one year | 40/41 | €39,097 | €44,250 | +€5,153 | +13.2% |
| Trade receivables | 40 | €37,998 | €36,575 | -€1,423 | -3.7% |
| Other amounts receivable | 41 | €1,099 | €7,674 | +€6,575 | +598% |
| Current investments | 50/53 | €4,129 | €4,129 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €176,285 | €162,654 | -€13,631 | -7.7% |
| Total equity and liabilities | 10/49 | €388,930 | €350,207 | -€38,723 | -10.0% |
| Equity | 10/15 | €289,428 | €274,693 | -€14,734 | -5.1% |
| Contributions | 10/11 | €19,831 | €19,831 | = | 0.0% |
| Reserves | 13 | €269,596 | €254,862 | -€14,734 | -5.5% |
| Non-distributable reserves | 130/1 | €1,983 | €1,983 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,983 | €1,983 | = | 0.0% |
| Tax-exempt reserves | 132 | €47,365 | €47,365 | = | 0.0% |
| Distributable reserves | 133 | €220,248 | €205,514 | -€14,734 | -6.7% |
| Amounts payable | 17/49 | €99,502 | €75,513 | -€23,989 | -24.1% |
| Amounts payable after more than one year | 17 | €62,180 | €47,575 | -€14,605 | -23.5% |
| Financial debts | 170/4 | €62,180 | €47,575 | -€14,605 | -23.5% |
| Amounts payable within one year | 42/48 | €18,494 | €10,236 | -€8,258 | -44.7% |
| Current portion of amounts payable after more than one year | 42 | €4,080 | €4,080 | = | 0.0% |
| Trade debts | 44 | €2,158 | €1,825 | -€332 | -15.4% |
| Suppliers | 440/4 | €2,158 | €1,825 | -€332 | -15.4% |
| Taxes, remuneration and social security | 45 | €7,387 | - | -€7,387 | |
| Remuneration and social security | 454/9 | €7,387 | - | -€7,387 | |
| Other amounts payable | 47/48 | €4,869 | €4,330 | -€539 | -11.1% |
| Accrued charges and deferred income | 492/3 | €18,829 | €17,703 | -€1,126 | -6.0% |
| Remuneration, social security and pensions | 62 | €73,726 | €59,861 | -€13,865 | -18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,380 | €32,545 | +€165 | +0.5% |
| Other operating charges | 640/8 | €3,958 | €3,845 | -€114 | -2.9% |
| Non-recurring operating charges | 66A | €813 | -€519 | -€1,332 | |
| Gross operating margin | 9900 | €99,791 | €83,042 | -€16,749 | -16.8% |
| Operating profit (loss) | 9901 | -€11,086 | -€12,690 | -€1,603 | -14.5% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €2,040 | €1,620 | -€421 | -20.6% |
| Recurring financial charges | 65 | €2,040 | €1,620 | -€421 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | -€13,124 | -€14,309 | -€1,185 | -9.0% |
| Income taxes | 67/77 | €901 | €425 | -€476 | -52.9% |
| Profit (loss) for the period | 9904 | -€14,025 | -€14,734 | -€709 | -5.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,025 | -€14,734 | -€709 | -5.1% |
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 27 October 2026 via checked.be.