MAXILLA: 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.
MAXILLA
Largest movements
- Current investments -€850,000
down €850,000 (-100.0%), from €850,000 to €0
- Receivables after one year +€751,376
new in 2025: €751,376
- Intangible fixed assets -€353,765
down €353,765 (-12.3%), from €2.9m to €2.5m
- Tangible fixed assets +€296,532
up €296,532 (+79.0%), from €375,365 to €671,896
of which Plant, machinery and equipment: +€163,975
- Cash +€186,835
up €186,835 (+54.3%), from €344,077 to €530,912
mainly Current investments (+€850,000) and Depreciation (+€463,853)
- Debts after one year -€465,267
down €465,267 (-19.1%), from €2.4m to €2.0m
of which Financial debts: -€465,267
- Reserves +€458,810
up €458,810 (+36.8%), from €1.2m to €1.7m
- Tax, wage and social debts +€163,414
up €163,414 (+55.2%), from €296,251 to €459,665
of which Taxes: +€141,774
- Gross operating margin -€305,214
down €305,214 (-15.8%), from €1.9m to €1.6m
- Taxes -€107,314
down €107,314 (-42.7%), from €251,252 to €143,938
- Staff costs +€60,266
up €60,266 (+14.7%), from €410,713 to €470,979
- Depreciation +€37,052
up €37,052 (+8.7%), from €426,801 to €463,853
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 | €4,515,570 | €4,715,549 | +€199,980 | +4.4% |
| Fixed assets | 21/28 | €3,256,745 | €3,199,511 | -€57,233 | -1.8% |
| Intangible fixed assets | 21 | €2,881,380 | €2,527,615 | -€353,765 | -12.3% |
| Tangible fixed assets | 22/27 | €375,365 | €671,896 | +€296,532 | +79.0% |
| Plant, machinery and equipment | 23 | €348,685 | €512,660 | +€163,975 | +47.0% |
| Furniture and vehicles | 24 | €18,939 | €129,987 | +€111,048 | +586.4% |
| Other tangible fixed assets | 26 | €7,741 | €29,250 | +€21,508 | +277.8% |
| Current assets | 29/58 | €1,258,825 | €1,516,038 | +€257,213 | +20.4% |
| Amounts receivable after more than one year | 29 | - | €751,376 | +€751,376 | |
| Other amounts receivable | 291 | - | €751,376 | +€751,376 | |
| Amounts receivable within one year | 40/41 | €57,457 | €225,005 | +€167,547 | +291.6% |
| Trade receivables | 40 | €51,740 | €104,582 | +€52,842 | +102.1% |
| Other amounts receivable | 41 | €5,717 | €120,423 | +€114,706 | +2006.3% |
| Current investments | 50/53 | €850,000 | €0 | -€850,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €344,077 | €530,912 | +€186,835 | +54.3% |
| Deferred charges and accrued income | 490/1 | €7,291 | €8,744 | +€1,454 | +19.9% |
| Total equity and liabilities | 10/49 | €4,515,570 | €4,715,549 | +€199,980 | +4.4% |
| Equity | 10/15 | €1,265,355 | €1,724,165 | +€458,810 | +36.3% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | €1,247,355 | €1,706,165 | +€458,810 | +36.8% |
| Distributable reserves | 133 | €1,247,355 | €1,706,165 | +€458,810 | +36.8% |
| Amounts payable | 17/49 | €3,250,215 | €2,991,385 | -€258,830 | -8.0% |
| Amounts payable after more than one year | 17 | €2,431,705 | €1,966,438 | -€465,267 | -19.1% |
| Financial debts | 170/4 | €2,131,705 | €1,666,438 | -€465,267 | -21.8% |
| Other amounts payable | 178/9 | €300,000 | €300,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €785,495 | €980,869 | +€195,374 | +24.9% |
| Current portion of amounts payable after more than one year | 42 | €450,184 | €465,267 | +€15,083 | +3.4% |
| Trade debts | 44 | €39,060 | €55,937 | +€16,877 | +43.2% |
| Suppliers | 440/4 | €39,060 | €55,937 | +€16,877 | +43.2% |
| Taxes, remuneration and social security | 45 | €296,251 | €459,665 | +€163,414 | +55.2% |
| Taxes | 450/3 | €250,104 | €391,878 | +€141,774 | +56.7% |
| Remuneration and social security | 454/9 | €46,147 | €67,788 | +€21,641 | +46.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €33,015 | €44,077 | +€11,063 | +33.5% |
| Remuneration, social security and pensions | 62 | €410,713 | €470,979 | +€60,266 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €426,801 | €463,853 | +€37,052 | +8.7% |
| Other operating charges | 640/8 | €893 | €1,977 | +€1,084 | +121.3% |
| Non-recurring operating charges | 66A | - | €7,741 | +€7,741 | |
| Gross operating margin | 9900 | €1,934,872 | €1,629,658 | -€305,214 | -15.8% |
| Operating profit (loss) | 9901 | €1,096,465 | €685,108 | -€411,357 | -37.5% |
| Financial income | 75/76B | €3,818 | €7,274 | +€3,456 | +90.5% |
| Recurring financial income | 75 | €3,818 | €7,274 | +€3,456 | +90.5% |
| Financial charges | 65/66B | €104,060 | €89,634 | -€14,426 | -13.9% |
| Recurring financial charges | 65 | €104,060 | €89,634 | -€14,426 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €996,223 | €602,748 | -€393,475 | -39.5% |
| Income taxes | 67/77 | €251,252 | €143,938 | -€107,314 | -42.7% |
| Profit (loss) for the period | 9904 | €744,971 | €458,810 | -€286,161 | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €744,971 | €458,810 | -€286,161 | -38.4% |
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 28 September 2026 via checked.be.