MAXIPHARMA: 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.
MAXIPHARMA
Largest movements
- Cash +€180,667
up €180,667 (+208.7%), from €86,587 to €267,253
mainly Net result for the year (+€89,731) and Investment in fixed assets (net) (+€37,856)
- Tangible fixed assets -€37,856
no longer reported in 2025 (was €37,856)
- Receivables within one year -€15,986
down €15,986 (-93.6%), from €17,072 to €1,086
of which Trade receivables: -€11,089
- Stocks and contracts -€5,485
no longer reported in 2025 (was €5,485)
- Reserves +€89,731
up €89,731 (+68.2%), from €131,539 to €221,270
of which Distributable reserves: +€89,731
- Tax, wage and social debts +€35,204
up €35,204 (+1592.4%), from €2,211 to €37,415
- Gross operating margin +€128,409
up €128,409 (+10597.4%), from €1,212 to €129,621
- Taxes +€36,518
up €36,518 (+28529.4%), from €128 to €36,646
- Depreciation -€6,762
no longer reported in 2025 (was €6,762)
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 | €149,012 | €269,211 | +€120,199 | +80.7% |
| Fixed assets | 21/28 | €37,856 | - | -€37,856 | |
| Tangible fixed assets | 22/27 | €37,856 | - | -€37,856 | |
| Land and buildings | 22 | €37,856 | - | -€37,856 | |
| Current assets | 29/58 | €111,155 | €269,211 | +€158,055 | +142.2% |
| Stocks and contracts in progress | 3 | €5,485 | - | -€5,485 | |
| Stocks | 30/36 | €5,485 | - | -€5,485 | |
| Amounts receivable within one year | 40/41 | €17,072 | €1,086 | -€15,986 | -93.6% |
| Trade receivables | 40 | €11,250 | €162 | -€11,089 | -98.6% |
| Other amounts receivable | 41 | €5,821 | €924 | -€4,897 | -84.1% |
| Cash at bank and in hand | 54/58 | €86,587 | €267,253 | +€180,667 | +208.7% |
| Deferred charges and accrued income | 490/1 | €2,012 | €871 | -€1,141 | -56.7% |
| Total equity and liabilities | 10/49 | €149,012 | €269,211 | +€120,199 | +80.7% |
| Equity | 10/15 | €137,736 | €227,467 | +€89,731 | +65.1% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €131,539 | €221,270 | +€89,731 | +68.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €129,680 | €219,411 | +€89,731 | +69.2% |
| Amounts payable | 17/49 | €11,275 | €41,744 | +€30,468 | +270.2% |
| Amounts payable within one year | 42/48 | €11,275 | €41,744 | +€30,468 | +270.2% |
| Trade debts | 44 | €4,060 | €1,665 | -€2,395 | -59.0% |
| Suppliers | 440/4 | - | €1,665 | +€1,665 | |
| Bills of exchange payable | 441 | €4,060 | - | -€4,060 | |
| Taxes, remuneration and social security | 45 | €2,211 | €37,415 | +€35,204 | +1592.4% |
| Taxes | 450/3 | €2,211 | €37,415 | +€35,204 | +1592.4% |
| Other amounts payable | 47/48 | €5,005 | €2,664 | -€2,341 | -46.8% |
| Non-recurring operating income | 76A | - | €169,644 | +€169,644 | |
| Remuneration, social security and pensions | 62 | €764 | - | -€764 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,762 | - | -€6,762 | |
| Other operating charges | 640/8 | €2,765 | €2,331 | -€434 | -15.7% |
| Gross operating margin | 9900 | €1,212 | €129,621 | +€128,409 | +10597.4% |
| Operating profit (loss) | 9901 | -€9,079 | €127,290 | +€136,369 | |
| Financial income | 75/76B | €570 | €443 | -€127 | -22.3% |
| Recurring financial income | 75 | €570 | €443 | -€127 | -22.3% |
| Financial charges | 65/66B | €1,355 | €1,356 | +€2 | +0.1% |
| Recurring financial charges | 65 | €1,355 | €1,356 | +€2 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | -€9,864 | €126,377 | +€136,241 | |
| Income taxes | 67/77 | €128 | €36,646 | +€36,518 | +28529.4% |
| Profit (loss) for the period | 9904 | -€9,992 | €89,731 | +€99,723 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,992 | €89,731 | +€99,723 |
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 30 September 2026 via checked.be.