MAXICURA: 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.
MAXICURA
Largest movements
- Current investments +€42,642
up €42,642 (+284%), from €15,000 to €57,642
- Cash +€39,766
up €39,766 (+91.3%), from €43,544 to €83,310
mainly Net result for the year (+€42,752) and Receivables within one year (+€32,779)
- Receivables within one year -€32,779
down €32,779 (-66.4%), from €49,403 to €16,624
of which Trade receivables: -€32,129
- Tangible fixed assets -€14,673
down €14,673 (-16.1%), from €91,392 to €76,719
of which Furniture and vehicles: -€10,226
- Reserves +€42,752
up €42,752 (+31.8%), from €134,297 to €177,049
- Tax, wage and social debts -€8,211
down €8,211 (-51.9%), from €15,816 to €7,605
- Gross operating margin +€24,999
up €24,999 (+38.0%), from €65,737 to €90,735
- Depreciation +€13,703
up €13,703 (+146%), from €9,376 to €23,079
- Taxes +€4,392
up €4,392 (+25.4%), from €17,273 to €21,664
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 | €203,085 | €238,270 | +€35,184 | +17.3% |
| Fixed assets | 21/28 | €91,392 | €76,719 | -€14,673 | -16.1% |
| Tangible fixed assets | 22/27 | €91,392 | €76,719 | -€14,673 | -16.1% |
| Plant, machinery and equipment | 23 | €18,910 | €16,456 | -€2,454 | -13.0% |
| Furniture and vehicles | 24 | €64,012 | €53,787 | -€10,226 | -16.0% |
| Other tangible fixed assets | 26 | €8,469 | €6,477 | -€1,993 | -23.5% |
| Current assets | 29/58 | €111,693 | €161,551 | +€49,857 | +44.6% |
| Amounts receivable within one year | 40/41 | €49,403 | €16,624 | -€32,779 | -66.4% |
| Trade receivables | 40 | €47,978 | €15,849 | -€32,129 | -67.0% |
| Other amounts receivable | 41 | €1,426 | €775 | -€650 | -45.6% |
| Current investments | 50/53 | €15,000 | €57,642 | +€42,642 | +284% |
| Cash at bank and in hand | 54/58 | €43,544 | €83,310 | +€39,766 | +91.3% |
| Deferred charges and accrued income | 490/1 | €3,746 | €3,974 | +€229 | +6.1% |
| Total equity and liabilities | 10/49 | €203,085 | €238,270 | +€35,184 | +17.3% |
| Equity | 10/15 | €176,430 | €219,183 | +€42,752 | +24.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €134,297 | €177,049 | +€42,752 | +31.8% |
| Distributable reserves | 133 | €134,297 | €177,049 | +€42,752 | +31.8% |
| Profit (loss) carried forward | 14 | €23,541 | €23,541 | +€0 | 0.0% |
| Amounts payable | 17/49 | €26,655 | €19,087 | -€7,568 | -28.4% |
| Amounts payable within one year | 42/48 | €25,792 | €17,558 | -€8,234 | -31.9% |
| Trade debts | 44 | €6,625 | €4,552 | -€2,073 | -31.3% |
| Suppliers | 440/4 | €6,625 | €4,552 | -€2,073 | -31.3% |
| Taxes, remuneration and social security | 45 | €15,816 | €7,605 | -€8,211 | -51.9% |
| Taxes | 450/3 | €15,816 | €7,605 | -€8,211 | -51.9% |
| Other amounts payable | 47/48 | €3,351 | €5,401 | +€2,050 | +61.2% |
| Accrued charges and deferred income | 492/3 | €863 | €1,529 | +€666 | +77.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,376 | €23,079 | +€13,703 | +146% |
| Other operating charges | 640/8 | €683 | €775 | +€92 | +13.4% |
| Non-recurring operating charges | 66A | €1,437 | - | -€1,437 | |
| Gross operating margin | 9900 | €65,737 | €90,735 | +€24,999 | +38.0% |
| Operating profit (loss) | 9901 | €54,240 | €66,882 | +€12,642 | +23.3% |
| Financial income | 75/76B | €990 | €500 | -€490 | -49.5% |
| Recurring financial income | 75 | €990 | €500 | -€490 | -49.5% |
| Financial charges | 65/66B | €3,724 | €2,966 | -€759 | -20.4% |
| Recurring financial charges | 65 | €3,724 | €2,966 | -€759 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €51,506 | €64,417 | +€12,910 | +25.1% |
| Income taxes | 67/77 | €17,273 | €21,664 | +€4,392 | +25.4% |
| Profit (loss) for the period | 9904 | €34,233 | €42,752 | +€8,519 | +24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,233 | €42,752 | +€8,519 | +24.9% |
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 26 October 2026 via checked.be.