Maximmo: 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.
Maximmo
Largest movements
- Tangible fixed assets +€444,969
up €444,969 (+84.7%), from €525,191 to €970,160
of which Land and buildings: +€454,365
- Cash +€38,893
up €38,893 (+39.5%), from €98,338 to €137,230
mainly Debts after one year (+€318,631) and Net result for the year (+€56,651)
- Receivables within one year -€33,598
down €33,598 (-59.1%), from €56,895 to €23,297
of which Other amounts receivable: -€51,748
- Current investments -€28,588
no longer reported in 2025 (was €28,588)
- Debts after one year +€318,631
up €318,631 (+113.2%), from €281,394 to €600,025
- Reserves +€56,651
up €56,651 (+17.8%), from €318,572 to €375,223
- Other debts +€42,847
up €42,847 (+108.3%), from €39,551 to €82,398
- Current portion of long-term debt +€15,210
up €15,210 (+66.7%), from €22,806 to €38,016
- Gross operating margin -€87,142
down €87,142 (-35.4%), from €246,081 to €158,939
- Taxes -€31,857
down €31,857 (-59.0%), from €53,962 to €22,104
- Staff costs +€23,470
up €23,470 (+203.7%), from €11,524 to €34,994
- Depreciation +€14,573
up €14,573 (+112.1%), from €13,005 to €27,579
- Financial charges +€12,917
up €12,917 (+134.6%), from €9,594 to €22,511
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 | €709,012 | €1,130,687 | +€421,675 | +59.5% |
| Fixed assets | 21/28 | €525,191 | €970,160 | +€444,969 | +84.7% |
| Tangible fixed assets | 22/27 | €525,191 | €970,160 | +€444,969 | +84.7% |
| Land and buildings | 22 | €502,451 | €956,816 | +€454,365 | +90.4% |
| Furniture and vehicles | 24 | €22,740 | €13,344 | -€9,396 | -41.3% |
| Current assets | 29/58 | €183,821 | €160,527 | -€23,294 | -12.7% |
| Amounts receivable within one year | 40/41 | €56,895 | €23,297 | -€33,598 | -59.1% |
| Trade receivables | 40 | - | €18,150 | +€18,150 | |
| Other amounts receivable | 41 | €56,895 | €5,147 | -€51,748 | -91.0% |
| Current investments | 50/53 | €28,588 | - | -€28,588 | |
| Cash at bank and in hand | 54/58 | €98,338 | €137,230 | +€38,893 | +39.5% |
| Total equity and liabilities | 10/49 | €709,012 | €1,130,687 | +€421,675 | +59.5% |
| Equity | 10/15 | €326,072 | €382,723 | +€56,651 | +17.4% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €318,572 | €375,223 | +€56,651 | +17.8% |
| Distributable reserves | 133 | €318,572 | €375,223 | +€56,651 | +17.8% |
| Amounts payable | 17/49 | €382,941 | €747,964 | +€365,023 | +95.3% |
| Amounts payable after more than one year | 17 | €281,394 | €600,025 | +€318,631 | +113.2% |
| Financial debts | 170/4 | €281,394 | €600,025 | +€318,631 | +113.2% |
| Amounts payable within one year | 42/48 | €96,496 | €147,939 | +€51,443 | +53.3% |
| Current portion of amounts payable after more than one year | 42 | €22,806 | €38,016 | +€15,210 | +66.7% |
| Trade debts | 44 | €5,088 | €2,940 | -€2,149 | -42.2% |
| Suppliers | 440/4 | €5,088 | €2,940 | -€2,149 | -42.2% |
| Taxes, remuneration and social security | 45 | €29,051 | €24,586 | -€4,465 | -15.4% |
| Taxes | 450/3 | €25,567 | €17,460 | -€8,106 | -31.7% |
| Remuneration and social security | 454/9 | €3,484 | €7,125 | +€3,641 | +104.5% |
| Other amounts payable | 47/48 | €39,551 | €82,398 | +€42,847 | +108.3% |
| Accrued charges and deferred income | 492/3 | €5,051 | - | -€5,051 | |
| Non-recurring operating income | 76A | €17,200 | - | -€17,200 | |
| Remuneration, social security and pensions | 62 | €11,524 | €34,994 | +€23,470 | +203.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,005 | €27,579 | +€14,573 | +112.1% |
| Other operating charges | 640/8 | €1,292 | €2,266 | +€974 | +75.4% |
| Non-recurring operating charges | 66A | - | €0 | +€0 | |
| Gross operating margin | 9900 | €246,081 | €158,939 | -€87,142 | -35.4% |
| Operating profit (loss) | 9901 | €220,260 | €94,100 | -€126,160 | -57.3% |
| Financial income | 75/76B | €1,636 | €7,166 | +€5,530 | +338.0% |
| Recurring financial income | 75 | €1,636 | €7,166 | +€5,530 | +338.0% |
| Financial charges | 65/66B | €9,594 | €22,511 | +€12,917 | +134.6% |
| Recurring financial charges | 65 | €9,594 | €22,511 | +€12,917 | +134.6% |
| Profit (loss) for the period before taxes | 9903 | €212,303 | €78,756 | -€133,547 | -62.9% |
| Income taxes | 67/77 | €53,962 | €22,104 | -€31,857 | -59.0% |
| Profit (loss) for the period | 9904 | €158,341 | €56,651 | -€101,690 | -64.2% |
| Profit (loss) for the period to be appropriated | 9905 | €158,341 | €56,651 | -€101,690 | -64.2% |
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 8 October 2026 via checked.be.