MAXIMO: 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.
MAXIMO
Largest movements
- Tangible fixed assets +€13,637
up €13,637 (+2.8%), from €481,315 to €494,952
of which Plant, machinery and equipment: +€43,138
- Cash +€7,794
up €7,794 (+57.8%), from €13,493 to €21,287
mainly Depreciation (+€37,009) and Other debts (+€29,035)
- Other debts +€29,035
up €29,035 (+14.4%), from €202,108 to €231,143
- Debts after one year -€16,537
down €16,537 (-5.9%), from €280,218 to €263,680
- Profit (loss) carried forward +€9,748
up €9,748 (+42.7%), from -€22,841 to -€13,093
- Depreciation +€6,073
up €6,073 (+19.6%), from €30,937 to €37,009
- Gross operating margin +€5,251
up €5,251 (+11.0%), from €47,936 to €53,187
- Financial charges -€1,850
down €1,850 (-23.5%), from €7,880 to €6,030
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 | €497,232 | €519,548 | +€22,316 | +4.5% |
| Fixed assets | 21/28 | €482,432 | €496,069 | +€13,637 | +2.8% |
| Tangible fixed assets | 22/27 | €481,315 | €494,952 | +€13,637 | +2.8% |
| Land and buildings | 22 | €459,815 | €430,881 | -€28,935 | -6.3% |
| Plant, machinery and equipment | 23 | €20,835 | €63,973 | +€43,138 | +207% |
| Furniture and vehicles | 24 | €665 | €98 | -€567 | -85.3% |
| Financial fixed assets | 28 | €1,117 | €1,117 | = | 0.0% |
| Current assets | 29/58 | €14,800 | €23,480 | +€8,679 | +58.6% |
| Stocks and contracts in progress | 3 | €53 | €62 | +€9 | +17.0% |
| Stocks | 30/36 | €53 | €62 | +€9 | +17.0% |
| Amounts receivable within one year | 40/41 | €27 | - | -€27 | |
| Other amounts receivable | 41 | €27 | - | -€27 | |
| Cash at bank and in hand | 54/58 | €13,493 | €21,287 | +€7,794 | +57.8% |
| Deferred charges and accrued income | 490/1 | €1,227 | €2,131 | +€904 | +73.6% |
| Total equity and liabilities | 10/49 | €497,232 | €519,548 | +€22,316 | +4.5% |
| Equity | 10/15 | -€4,171 | €5,577 | +€9,748 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €70 | €70 | = | 0.0% |
| Non-distributable reserves | 130/1 | €70 | €70 | = | 0.0% |
| Legal reserve | 130 | €70 | €70 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,841 | -€13,093 | +€9,748 | +42.7% |
| Amounts payable | 17/49 | €501,403 | €513,972 | +€12,569 | +2.5% |
| Amounts payable after more than one year | 17 | €280,218 | €263,680 | -€16,537 | -5.9% |
| Financial debts | 170/4 | €280,218 | €263,680 | -€16,537 | -5.9% |
| Amounts payable within one year | 42/48 | €221,185 | €250,291 | +€29,106 | +13.2% |
| Current portion of amounts payable after more than one year | 42 | €16,106 | €15,728 | -€377 | -2.3% |
| Trade debts | 44 | - | €1,055 | +€1,055 | |
| Suppliers | 440/4 | - | €1,055 | +€1,055 | |
| Taxes, remuneration and social security | 45 | €2,972 | €2,365 | -€607 | -20.4% |
| Taxes | 450/3 | €2,972 | €2,365 | -€607 | -20.4% |
| Other amounts payable | 47/48 | €202,108 | €231,143 | +€29,035 | +14.4% |
| Non-recurring operating income | 76A | - | €8,655 | +€8,655 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,937 | €37,009 | +€6,073 | +19.6% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €47,936 | €53,187 | +€5,251 | +11.0% |
| Operating profit (loss) | 9901 | €16,612 | €15,778 | -€834 | -5.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -6.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -6.5% |
| Financial charges | 65/66B | €7,880 | €6,030 | -€1,850 | -23.5% |
| Recurring financial charges | 65 | €7,880 | €6,030 | -€1,850 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €8,731 | €9,748 | +€1,016 | +11.6% |
| Profit (loss) for the period | 9904 | €8,731 | €9,748 | +€1,016 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,731 | €9,748 | +€1,016 | +11.6% |
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 21 October 2026 via checked.be.