MaxLa: 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.
MaxLa
Largest movements
- Financial fixed assets -€37,000
down €37,000 (-64.7%), from €57,200 to €20,200
- Tangible fixed assets -€13,106
down €13,106 (-4.1%), from €316,483 to €303,378
of which Land and buildings: -€8,175
- Profit (loss) carried forward -€40,354
down €40,354 (-38.5%), from €104,840 to €64,486
- Debts after one year -€16,568
down €16,568 (-5.9%), from €282,738 to €266,170
- Gross operating margin +€43,941
up €43,941 (+113%), from €38,940 to €82,882
- Other operating charges -€36,638
down €36,638 (-96.3%), from €38,041 to €1,403
- Taxes +€12,091
up €12,091 (+17,854%), from €68 to €12,159
- Financial charges +€4,448
up €4,448 (+54.5%), from €8,158 to €12,606
- Depreciation +€3,225
up €3,225 (+32.6%), from €9,881 to €13,106
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 | €414,898 | €361,765 | -€53,133 | -12.8% |
| Fixed assets | 21/28 | €373,683 | €323,578 | -€50,106 | -13.4% |
| Tangible fixed assets | 22/27 | €316,483 | €303,378 | -€13,106 | -4.1% |
| Land and buildings | 22 | €302,102 | €293,927 | -€8,175 | -2.7% |
| Plant, machinery and equipment | 23 | €2,141 | €1,391 | -€749 | -35.0% |
| Furniture and vehicles | 24 | €7,083 | €4,303 | -€2,781 | -39.3% |
| Other tangible fixed assets | 26 | €5,157 | €3,757 | -€1,401 | -27.2% |
| Financial fixed assets | 28 | €57,200 | €20,200 | -€37,000 | -64.7% |
| Current assets | 29/58 | €41,215 | €38,187 | -€3,027 | -7.3% |
| Amounts receivable within one year | 40/41 | €19,606 | €16,105 | -€3,501 | -17.9% |
| Trade receivables | 40 | €18,286 | €15,830 | -€2,456 | -13.4% |
| Other amounts receivable | 41 | €1,320 | €275 | -€1,045 | -79.2% |
| Cash at bank and in hand | 54/58 | €19,639 | €22,083 | +€2,444 | +12.4% |
| Deferred charges and accrued income | 490/1 | €1,970 | €0 | -€1,970 | -100% |
| Total equity and liabilities | 10/49 | €414,898 | €361,765 | -€53,133 | -12.8% |
| Equity | 10/15 | €109,840 | €69,486 | -€40,354 | -36.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €104,840 | €64,486 | -€40,354 | -38.5% |
| Amounts payable | 17/49 | €305,059 | €292,279 | -€12,780 | -4.2% |
| Amounts payable after more than one year | 17 | €282,738 | €266,170 | -€16,568 | -5.9% |
| Financial debts | 170/4 | €282,738 | €266,170 | -€16,568 | -5.9% |
| Amounts payable within one year | 42/48 | €22,320 | €26,109 | +€3,789 | +17.0% |
| Current portion of amounts payable after more than one year | 42 | €15,983 | €16,568 | +€585 | +3.7% |
| Trade debts | 44 | €90 | €552 | +€462 | +515% |
| Suppliers | 440/4 | €90 | €552 | +€462 | +515% |
| Taxes, remuneration and social security | 45 | €6,248 | €8,989 | +€2,742 | +43.9% |
| Taxes | 450/3 | €6,248 | €8,989 | +€2,742 | +43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,881 | €13,106 | +€3,225 | +32.6% |
| Other operating charges | 640/8 | €38,041 | €1,403 | -€36,638 | -96.3% |
| Gross operating margin | 9900 | €38,940 | €82,882 | +€43,941 | +113% |
| Operating profit (loss) | 9901 | -€8,982 | €68,372 | +€77,354 | |
| Financial income | 75/76B | €2,990 | €39 | -€2,951 | -98.7% |
| Recurring financial income | 75 | €2,990 | €39 | -€2,951 | -98.7% |
| Financial charges | 65/66B | €8,158 | €12,606 | +€4,448 | +54.5% |
| Recurring financial charges | 65 | €8,158 | €12,606 | +€4,448 | +54.5% |
| Profit (loss) for the period before taxes | 9903 | -€14,150 | €55,805 | +€69,954 | |
| Income taxes | 67/77 | €68 | €12,159 | +€12,091 | +17,854% |
| Profit (loss) for the period | 9904 | -€14,217 | €43,646 | +€57,864 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,217 | €43,646 | +€57,864 |
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 13 October 2026 via checked.be.