MAXIGOAL: 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.
MAXIGOAL
Largest movements
- Cash -€63,057
down €63,057 (-34.0%), from €185,521 to €122,464
mainly Debts after one year (-€646,216) and Contributions, distributions and other (-€22,794)
- Receivables within one year -€34,850
down €34,850 (-8.5%), from €407,987 to €373,137
of which Trade receivables: -€55,200
- Debts after one year -€646,216
down €646,216 (-43.7%), from €1.5m to €833,784
- Reserves +€284,771
up €284,771 (+54.9%), from €518,945 to €803,717
of which Distributable reserves: +€284,771
- Current portion of long-term debt +€257,570
up €257,570 (+1,170%), from €22,021 to €279,591
- Financial income -€100,378
down €100,378 (-96.8%), from €103,674 to €3,296
of which Non-recurring financial income: -€100,000
- Gross operating margin +€24,430
up €24,430 (+5.1%), from €479,288 to €503,719
- Financial charges -€18,971
down €18,971 (-26.2%), from €72,546 to €53,575
- Taxes +€6,074
up €6,074 (+4.4%), from €137,269 to €143,343
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 | €2,223,912 | €2,125,706 | -€98,206 | -4.4% |
| Fixed assets | 21/28 | €1,600,210 | €1,600,105 | -€105 | 0.0% |
| Tangible fixed assets | 22/27 | €210 | €105 | -€105 | -50.0% |
| Other tangible fixed assets | 26 | €210 | €105 | -€105 | -50.0% |
| Financial fixed assets | 28 | €1,600,000 | €1,600,000 | = | 0.0% |
| Current assets | 29/58 | €623,702 | €525,601 | -€98,101 | -15.7% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 291 | €30,000 | €30,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €407,987 | €373,137 | -€34,850 | -8.5% |
| Trade receivables | 40 | €155,928 | €100,727 | -€55,200 | -35.4% |
| Other amounts receivable | 41 | €252,059 | €272,410 | +€20,351 | +8.1% |
| Cash at bank and in hand | 54/58 | €185,521 | €122,464 | -€63,057 | -34.0% |
| Deferred charges and accrued income | 490/1 | €194 | €0 | -€194 | -100% |
| Total equity and liabilities | 10/49 | €2,223,912 | €2,125,706 | -€98,206 | -4.4% |
| Equity | 10/15 | €525,145 | €809,917 | +€284,771 | +54.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €518,945 | €803,717 | +€284,771 | +54.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €517,085 | €801,857 | +€284,771 | +55.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,698,767 | €1,315,790 | -€382,977 | -22.5% |
| Amounts payable after more than one year | 17 | €1,480,000 | €833,784 | -€646,216 | -43.7% |
| Financial debts | 170/4 | €1,480,000 | €833,784 | -€646,216 | -43.7% |
| Amounts payable within one year | 42/48 | €218,767 | €466,742 | +€247,975 | +113% |
| Current portion of amounts payable after more than one year | 42 | €22,021 | €279,591 | +€257,570 | +1,170% |
| Trade debts | 44 | €1,374 | €5,453 | +€4,079 | +297% |
| Suppliers | 440/4 | €1,374 | €5,453 | +€4,079 | +297% |
| Taxes, remuneration and social security | 45 | €75,372 | €61,698 | -€13,674 | -18.1% |
| Taxes | 450/3 | €75,372 | €61,698 | -€13,674 | -18.1% |
| Other amounts payable | 47/48 | €120,000 | €120,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €15,264 | +€15,264 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,821 | €105 | -€1,716 | -94.2% |
| Other operating charges | 640/8 | €1,205 | €2,427 | +€1,221 | +101% |
| Non-recurring operating charges | 66A | €2,048 | €0 | -€2,048 | -100% |
| Gross operating margin | 9900 | €479,288 | €503,719 | +€24,430 | +5.1% |
| Operating profit (loss) | 9901 | €474,214 | €501,187 | +€26,973 | +5.7% |
| Financial income | 75/76B | €103,674 | €3,296 | -€100,378 | -96.8% |
| Recurring financial income | 75 | €3,674 | €3,296 | -€378 | -10.3% |
| Non-recurring financial income | 76B | €100,000 | €0 | -€100,000 | -100% |
| Financial charges | 65/66B | €72,546 | €53,575 | -€18,971 | -26.2% |
| Recurring financial charges | 65 | €72,546 | €53,575 | -€18,971 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €505,342 | €450,908 | -€54,434 | -10.8% |
| Income taxes | 67/77 | €137,269 | €143,343 | +€6,074 | +4.4% |
| Profit (loss) for the period | 9904 | €368,074 | €307,565 | -€60,508 | -16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €368,074 | €307,565 | -€60,508 | -16.4% |
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 23 October 2026 via checked.be.