MAXINI: 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.
MAXINI
Largest movements
- Receivables within one year -€6,242
down €6,242 (-21.8%), from €28,581 to €22,339
of which Other amounts receivable: -€6,242
- Cash +€2,143
up €2,143 (+96.1%), from €2,231 to €4,374
mainly Trade debts (+€12,940) and Receivables within one year (+€6,242)
- Tangible fixed assets -€2,052
down €2,052 (-63.2%), from €3,246 to €1,194
of which Plant, machinery and equipment: -€2,052
- Deferred charges and accrued income +€347
new in 2025: €347
- Reserves -€18,075
down €18,075 (-100.0%), from €18,075 to €0
- Trade debts +€12,940
up €12,940 (+531.5%), from €2,435 to €15,375
- Profit (loss) carried forward -€432
down €432, from €0 to -€432
- Gross operating margin +€35,771
up €35,771 (+77.8%), from -€45,977 to -€10,206
- Financial income -€2,872
down €2,872 (-100.0%), from €2,872 to €0
- Other operating charges +€776
up €776 (+95.2%), from €816 to €1,592
- Financial charges -€759
down €759 (-14.5%), from €5,232 to €4,473
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 | €34,057 | €28,254 | -€5,803 | -17.0% |
| Fixed assets | 21/28 | €3,246 | €1,194 | -€2,052 | -63.2% |
| Tangible fixed assets | 22/27 | €3,246 | €1,194 | -€2,052 | -63.2% |
| Plant, machinery and equipment | 23 | €3,246 | €1,194 | -€2,052 | -63.2% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €30,811 | €27,060 | -€3,751 | -12.2% |
| Amounts receivable within one year | 40/41 | €28,581 | €22,339 | -€6,242 | -21.8% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €28,581 | €22,339 | -€6,242 | -21.8% |
| Cash at bank and in hand | 54/58 | €2,231 | €4,374 | +€2,143 | +96.1% |
| Deferred charges and accrued income | 490/1 | - | €347 | +€347 | |
| Total equity and liabilities | 10/49 | €34,057 | €28,254 | -€5,803 | -17.0% |
| Equity | 10/15 | €30,475 | €11,968 | -€18,507 | -60.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €18,075 | €0 | -€18,075 | -100.0% |
| Distributable reserves | 133 | €18,075 | €0 | -€18,075 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | -€432 | -€432 | |
| Amounts payable | 17/49 | €3,582 | €16,286 | +€12,704 | +354.7% |
| Amounts payable within one year | 42/48 | €3,582 | €16,286 | +€12,704 | +354.7% |
| Trade debts | 44 | €2,435 | €15,375 | +€12,940 | +531.5% |
| Suppliers | 440/4 | €2,435 | €15,375 | +€12,940 | +531.5% |
| Taxes, remuneration and social security | 45 | €808 | €572 | -€236 | -29.2% |
| Taxes | 450/3 | €808 | €572 | -€236 | -29.2% |
| Other amounts payable | 47/48 | €340 | €340 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €23,921 | €1,500 | -€22,421 | -93.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,052 | €2,052 | +€0 | 0.0% |
| Other operating charges | 640/8 | €816 | €1,592 | +€776 | +95.2% |
| Gross operating margin | 9900 | -€45,977 | -€10,206 | +€35,771 | +77.8% |
| Operating profit (loss) | 9901 | -€48,846 | -€13,851 | +€34,994 | +71.6% |
| Financial income | 75/76B | €2,872 | €0 | -€2,872 | -100.0% |
| Recurring financial income | 75 | €2,872 | €0 | -€2,872 | -100.0% |
| Financial charges | 65/66B | €5,232 | €4,473 | -€759 | -14.5% |
| Recurring financial charges | 65 | €5,232 | €4,473 | -€759 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | -€51,206 | -€18,324 | +€32,882 | +64.2% |
| Income taxes | 67/77 | €410 | €183 | -€227 | -55.3% |
| Profit (loss) for the period | 9904 | -€51,616 | -€18,507 | +€33,108 | +64.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,616 | -€18,507 | +€33,108 | +64.1% |
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 7 October 2026 via checked.be.