MAXIVET: 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.
MAXIVET
Largest movements
- Financial fixed assets +€45,338
up €45,338 (+13.9%), from €327,055 to €372,393
- Receivables within one year +€39,925
up €39,925 (+141.4%), from €28,233 to €68,158
of which Trade receivables: +€29,183
- Cash -€25,669
down €25,669 (-23.1%), from €111,280 to €85,611
mainly Contributions, distributions and other (-€185,109) and Investment in fixed assets (net) (-€45,338)
- Other debts +€201,171
up €201,171 (+74.4%), from €270,287 to €471,458
- Profit (loss) carried forward -€141,463
down €141,463 (-76.4%), from €185,109 to €43,646
- Gross operating margin -€21,960
down €21,960 (-26.0%), from €84,389 to €62,429
- Taxes +€2,664
up €2,664 (+20.6%), from €12,905 to €15,569
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 | €468,639 | €527,764 | +€59,125 | +12.6% |
| Fixed assets | 21/28 | €329,126 | €373,809 | +€44,683 | +13.6% |
| Tangible fixed assets | 22/27 | €2,071 | €1,416 | -€656 | -31.7% |
| Other tangible fixed assets | 26 | €2,071 | €1,416 | -€656 | -31.7% |
| Financial fixed assets | 28 | €327,055 | €372,393 | +€45,338 | +13.9% |
| Current assets | 29/58 | €139,513 | €153,956 | +€14,442 | +10.4% |
| Amounts receivable within one year | 40/41 | €28,233 | €68,158 | +€39,925 | +141.4% |
| Trade receivables | 40 | €13,320 | €42,503 | +€29,183 | +219.1% |
| Other amounts receivable | 41 | €14,913 | €25,655 | +€10,742 | +72.0% |
| Cash at bank and in hand | 54/58 | €111,280 | €85,611 | -€25,669 | -23.1% |
| Deferred charges and accrued income | 490/1 | - | €187 | +€187 | |
| Total equity and liabilities | 10/49 | €468,639 | €527,764 | +€59,125 | +12.6% |
| Equity | 10/15 | €189,109 | €47,646 | -€141,463 | -74.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €185,109 | €43,646 | -€141,463 | -76.4% |
| Amounts payable | 17/49 | €279,530 | €480,118 | +€200,588 | +71.8% |
| Amounts payable within one year | 42/48 | €279,530 | €480,118 | +€200,588 | +71.8% |
| Trade debts | 44 | €493 | €1,086 | +€593 | +120.4% |
| Suppliers | 440/4 | €493 | €1,086 | +€593 | +120.4% |
| Taxes, remuneration and social security | 45 | €8,751 | €7,574 | -€1,177 | -13.4% |
| Taxes | 450/3 | €8,751 | €7,574 | -€1,177 | -13.4% |
| Other amounts payable | 47/48 | €270,287 | €471,458 | +€201,171 | +74.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €656 | €656 | = | 0.0% |
| Other operating charges | 640/8 | €719 | €695 | -€24 | -3.3% |
| Gross operating margin | 9900 | €84,389 | €62,429 | -€21,960 | -26.0% |
| Operating profit (loss) | 9901 | €83,014 | €61,078 | -€21,936 | -26.4% |
| Financial charges | 65/66B | €2,390 | €1,863 | -€526 | -22.0% |
| Recurring financial charges | 65 | €2,390 | €1,863 | -€526 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | €80,625 | €59,215 | -€21,410 | -26.6% |
| Income taxes | 67/77 | €12,905 | €15,569 | +€2,664 | +20.6% |
| Profit (loss) for the period | 9904 | €67,720 | €43,646 | -€24,074 | -35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €67,720 | €43,646 | -€24,074 | -35.5% |
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 4 October 2026 via checked.be.