MAXIGROUPE: 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.
What changed
MAXIGROUPE
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€567,597
2024 · -€1.3m+€728,290
Equity
€46.3m
2024 · €47.1m-€853,338
Cash
€131,804
2024 · €84,702+€47,102
Balance sheet total
€74.2m
2024 · €74.5m-€288,479
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Gross operating margin +€582,594
up €582,594 (+223.4%), from €260,760 to €843,354
- Financial charges -€317,093
down €317,093 (-27.9%), from €1.1m to €820,625
of which Financial charges: -€264,935
- Depreciation -€14,398
down €14,398 (-3.5%), from €407,898 to €393,500
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.
Result 2024
-€1.3m
Gross operating margin
+€582,594
Depreciation
+€14,398
Other operating charges
-€2,712
Other operating items
-€187,558
Financial income
+€5,846
Financial charges
+€317,093
Taxes
-€1,370
Result 2025
-€567,597
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.
From operations
+€216,821
Investment
+€25,347
Financing
-€195,066
Cash 2024
€84,702
From operations (derived)
+€216,821
Net result for the year
-€567,597
Depreciation
+€393,500
Receivables within one year
-€107,396
Deferred charges and accrued income
+€24,130
Trade debts
+€48,637
Tax, wage and social debts
+€1,196
Other debts
+€466,775
Accrued charges and deferred income
-€42,425
Investment (derived)
+€25,347
Investment in fixed assets (net)
+€25,347
Financing
-€195,066
Debts after one year
-€337,987
Current portion of long-term debt
-€41,339
Short-term financial debts
+€470,000
Contributions, distributions and other
-€285,740
Cash 2025
€131,804
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €74,475,384 | €74,186,904 | -€288,479 | -0.4% |
| Fixed assets | 21/28 | €57,042,494 | €56,623,647 | -€418,848 | -0.7% |
| Tangible fixed assets | 22/27 | €46,933,794 | €46,514,941 | -€418,853 | -0.9% |
| Land and buildings | 22 | €37,709,191 | €37,292,403 | -€416,788 | -1.1% |
| Furniture and vehicles | 24 | €9,224,604 | €9,222,538 | -€2,065 | 0.0% |
| Financial fixed assets | 28 | €10,108,700 | €10,108,706 | +€6 | 0.0% |
| Current assets | 29/58 | €17,432,889 | €17,563,257 | +€130,368 | +0.7% |
| Amounts receivable within one year | 40/41 | €16,628,378 | €16,735,774 | +€107,396 | +0.6% |
| Trade receivables | 40 | €5,280 | - | -€5,280 | |
| Other amounts receivable | 41 | €16,623,098 | €16,735,774 | +€112,676 | +0.7% |
| Cash at bank and in hand | 54/58 | €84,702 | €131,804 | +€47,102 | +55.6% |
| Deferred charges and accrued income | 490/1 | €719,809 | €695,679 | -€24,130 | -3.4% |
| Total equity and liabilities | 10/49 | €74,475,384 | €74,186,904 | -€288,479 | -0.4% |
| Equity | 10/15 | €47,106,266 | €46,252,929 | -€853,338 | -1.8% |
| Contributions | 10/11 | €17,070,764 | €17,070,764 | = | 0.0% |
| Capital | 10 | €17,070,764 | €17,070,764 | = | 0.0% |
| Issued capital | 100 | €17,070,764 | €17,070,764 | = | 0.0% |
| Revaluation surpluses | 12 | €31,861,514 | €31,575,774 | -€285,740 | -0.9% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,856,012 | -€2,423,609 | -€567,597 | -30.6% |
| Provisions and deferred taxes | 16 | €45,000 | €45,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €45,000 | €45,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €45,000 | €45,000 | = | 0.0% |
| Amounts payable | 17/49 | €27,324,117 | €27,888,975 | +€564,858 | +2.1% |
| Amounts payable after more than one year | 17 | €2,716,991 | €2,379,004 | -€337,987 | -12.4% |
| Financial debts | 170/4 | €2,716,991 | €2,379,004 | -€337,987 | -12.4% |
| Amounts payable within one year | 42/48 | €24,481,226 | €25,426,496 | +€945,270 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €51,329 | €9,990 | -€41,339 | -80.5% |
| Financial debts | 43 | €18,200,000 | €18,670,000 | +€470,000 | +2.6% |
| Credit institutions | 430/8 | €18,200,000 | €18,670,000 | +€470,000 | +2.6% |
| Trade debts | 44 | €267 | €48,905 | +€48,637 | +18184.9% |
| Suppliers | 440/4 | €267 | €48,905 | +€48,637 | +18184.9% |
| Taxes, remuneration and social security | 45 | €2,100 | €3,296 | +€1,196 | +57.0% |
| Taxes | 450/3 | €2,100 | €3,296 | +€1,196 | +57.0% |
| Other amounts payable | 47/48 | €6,227,530 | €6,694,305 | +€466,775 | +7.5% |
| Accrued charges and deferred income | 492/3 | €125,900 | €83,476 | -€42,425 | -33.7% |
| Non-recurring operating income | 76A | €583 | €369,748 | +€369,164 | +63282.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €407,898 | €393,500 | -€14,398 | -3.5% |
| Other operating charges | 640/8 | €136,057 | €138,769 | +€2,712 | +2.0% |
| Non-recurring operating charges | 66A | €34,526 | €222,084 | +€187,558 | +543.2% |
| Gross operating margin | 9900 | €260,760 | €843,354 | +€582,594 | +223.4% |
| Operating profit (loss) | 9901 | -€317,721 | €89,001 | +€406,721 | |
| Financial income | 75/76B | €160,537 | €166,382 | +€5,846 | +3.6% |
| Recurring financial income | 75 | €160,537 | €166,382 | +€5,846 | +3.6% |
| Financial charges | 65/66B | €1,137,718 | €820,625 | -€317,093 | -27.9% |
| Recurring financial charges | 65 | €1,078,379 | €813,445 | -€264,935 | -24.6% |
| Non-recurring financial charges | 66B | €59,338 | €7,180 | -€52,158 | -87.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,294,902 | -€565,242 | +€729,660 | +56.3% |
| Income taxes | 67/77 | €985 | €2,355 | +€1,370 | +139.1% |
| Profit (loss) for the period | 9904 | -€1,295,887 | -€567,597 | +€728,290 | +56.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,295,887 | -€567,597 | +€728,290 | +56.2% |
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 30 September 2026 via checked.be.