MAXILINE: 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.
MAXILINE
Largest movements
- Receivables within one year +€20,862
up €20,862 (+12.4%), from €168,451 to €189,312
of which Trade receivables: +€22,751
- Cash -€13,079
down €13,079 (-88.8%), from €14,727 to €1,648
mainly Receivables within one year (-€20,862) and Contributions, distributions and other (-€12,769)
- Tangible fixed assets -€9,573
down €9,573 (-34.0%), from €28,146 to €18,573
of which Furniture and vehicles: -€8,748
- Accrued charges and deferred income +€32,500
up €32,500 (+34.5%), from €94,151 to €126,651
- Reserves -€18,163
down €18,163 (-41.4%), from €43,907 to €25,744
- Other debts -€11,495
down €11,495 (-56.2%), from €20,448 to €8,953
- Debts after one year -€10,341
down €10,341 (-85.5%), from €12,097 to €1,756
- Tax, wage and social debts +€3,915
up €3,915 (+15.1%), from €25,943 to €29,858
of which Remuneration and social security: +€8,320
- Gross operating margin -€41,562
down €41,562 (-85.5%), from €48,610 to €7,048
- Taxes -€7,429
down €7,429 (-91.6%), from €8,111 to €682
- Financial charges -€555
down €555 (-47.5%), from €1,168 to €613
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €217,014 | €214,224 | -€2,790 | -1.3% |
| Fixed assets | 21/28 | €33,837 | €23,264 | -€10,573 | -31.2% |
| Intangible fixed assets | 21 | €4,828 | €3,828 | -€1,000 | -20.7% |
| Tangible fixed assets | 22/27 | €28,146 | €18,573 | -€9,573 | -34.0% |
| Plant, machinery and equipment | 23 | €1,052 | €226 | -€826 | -78.5% |
| Furniture and vehicles | 24 | €27,094 | €18,346 | -€8,748 | -32.3% |
| Financial fixed assets | 28 | €863 | €863 | = | 0.0% |
| Current assets | 29/58 | €183,177 | €190,960 | +€7,783 | +4.2% |
| Amounts receivable within one year | 40/41 | €168,451 | €189,312 | +€20,862 | +12.4% |
| Trade receivables | 40 | €21,127 | €43,878 | +€22,751 | +107.7% |
| Other amounts receivable | 41 | €147,324 | €145,435 | -€1,889 | -1.3% |
| Cash at bank and in hand | 54/58 | €14,727 | €1,648 | -€13,079 | -88.8% |
| Total equity and liabilities | 10/49 | €217,014 | €214,224 | -€2,790 | -1.3% |
| Equity | 10/15 | €50,107 | €31,944 | -€18,163 | -36.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €43,907 | €25,744 | -€18,163 | -41.4% |
| Distributable reserves | 133 | €43,907 | €25,744 | -€18,163 | -41.4% |
| Amounts payable | 17/49 | €166,907 | €182,280 | +€15,373 | +9.2% |
| Amounts payable after more than one year | 17 | €12,097 | €1,756 | -€10,341 | -85.5% |
| Financial debts | 170/4 | €12,097 | €1,756 | -€10,341 | -85.5% |
| Amounts payable within one year | 42/48 | €60,659 | €53,874 | -€6,786 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €10,016 | €10,122 | +€106 | +1.1% |
| Trade debts | 44 | €4,253 | €4,941 | +€689 | +16.2% |
| Suppliers | 440/4 | €4,253 | €4,941 | +€689 | +16.2% |
| Taxes, remuneration and social security | 45 | €25,943 | €29,858 | +€3,915 | +15.1% |
| Taxes | 450/3 | €19,017 | €14,612 | -€4,404 | -23.2% |
| Remuneration and social security | 454/9 | €6,926 | €15,246 | +€8,320 | +120.1% |
| Other amounts payable | 47/48 | €20,448 | €8,953 | -€11,495 | -56.2% |
| Accrued charges and deferred income | 492/3 | €94,151 | €126,651 | +€32,500 | +34.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,165 | €10,573 | +€408 | +4.0% |
| Other operating charges | 640/8 | €837 | €574 | -€262 | -31.4% |
| Gross operating margin | 9900 | €48,610 | €7,048 | -€41,562 | -85.5% |
| Operating profit (loss) | 9901 | €37,609 | -€4,100 | -€41,708 | |
| Financial charges | 65/66B | €1,168 | €613 | -€555 | -47.5% |
| Recurring financial charges | 65 | €1,168 | €613 | -€555 | -47.5% |
| Profit (loss) for the period before taxes | 9903 | €36,440 | -€4,712 | -€41,153 | |
| Income taxes | 67/77 | €8,111 | €682 | -€7,429 | -91.6% |
| Profit (loss) for the period | 9904 | €28,330 | -€5,394 | -€33,724 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,330 | -€5,394 | -€33,724 |
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 5 October 2026 via checked.be.