MAXLAW: 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.
MAXLAW
Largest movements
- Receivables within one year +€63,550
up €63,550 (+637.1%), from €9,975 to €73,525
of which Other amounts receivable: +€51,890
- Cash -€2,137
down €2,137 (-3.7%), from €58,048 to €55,911
mainly Contributions, distributions and other (-€77,244) and Receivables within one year (-€63,550)
- Deferred charges and accrued income +€1,915
up €1,915 (+62.7%), from €3,053 to €4,968
- Other debts +€51,280
up €51,280 (+117.2%), from €43,765 to €95,045
- Tax, wage and social debts +€8,893
up €8,893 (+171.9%), from €5,175 to €14,067
- Trade debts +€3,079
up €3,079 (+418.6%), from €735 to €3,814
- Gross operating margin +€47,820
up €47,820 (+77.8%), from €61,493 to €109,313
- Taxes +€9,897
up €9,897 (+76.1%), from €12,998 to €22,895
- Depreciation +€1,966
up €1,966 (+42.2%), from €4,664 to €6,630
- Financial income -€1,256
down €1,256 (-99.5%), from €1,263 to €7
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 | €97,864 | €161,115 | +€63,251 | +64.6% |
| Fixed assets | 21/28 | €26,787 | €26,710 | -€77 | -0.3% |
| Tangible fixed assets | 22/27 | €23,791 | €23,714 | -€77 | -0.3% |
| Furniture and vehicles | 24 | €5,834 | €8,593 | +€2,759 | +47.3% |
| Other tangible fixed assets | 26 | €17,957 | €15,121 | -€2,836 | -15.8% |
| Financial fixed assets | 28 | €2,997 | €2,997 | = | 0.0% |
| Current assets | 29/58 | €71,077 | €134,405 | +€63,328 | +89.1% |
| Amounts receivable within one year | 40/41 | €9,975 | €73,525 | +€63,550 | +637.1% |
| Trade receivables | 40 | €6,824 | €18,484 | +€11,660 | +170.9% |
| Other amounts receivable | 41 | €3,152 | €55,042 | +€51,890 | +1646.4% |
| Cash at bank and in hand | 54/58 | €58,048 | €55,911 | -€2,137 | -3.7% |
| Deferred charges and accrued income | 490/1 | €3,053 | €4,968 | +€1,915 | +62.7% |
| Total equity and liabilities | 10/49 | €97,864 | €161,115 | +€63,251 | +64.6% |
| Equity | 10/15 | €48,189 | €48,189 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €29,639 | €29,639 | = | 0.0% |
| Distributable reserves | 133 | €29,639 | €29,639 | = | 0.0% |
| Amounts payable | 17/49 | €49,675 | €112,926 | +€63,251 | +127.3% |
| Amounts payable within one year | 42/48 | €49,675 | €112,926 | +€63,251 | +127.3% |
| Trade debts | 44 | €735 | €3,814 | +€3,079 | +418.6% |
| Suppliers | 440/4 | €735 | €3,814 | +€3,079 | +418.6% |
| Taxes, remuneration and social security | 45 | €5,175 | €14,067 | +€8,893 | +171.9% |
| Taxes | 450/3 | €5,175 | €14,067 | +€8,893 | +171.9% |
| Other amounts payable | 47/48 | €43,765 | €95,045 | +€51,280 | +117.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,664 | €6,630 | +€1,966 | +42.2% |
| Other operating charges | 640/8 | €1,537 | €2,254 | +€717 | +46.7% |
| Gross operating margin | 9900 | €61,493 | €109,313 | +€47,820 | +77.8% |
| Operating profit (loss) | 9901 | €55,291 | €100,429 | +€45,137 | +81.6% |
| Financial income | 75/76B | €1,263 | €7 | -€1,256 | -99.5% |
| Recurring financial income | 75 | €1,263 | €7 | -€1,256 | -99.5% |
| Financial charges | 65/66B | €448 | €296 | -€152 | -33.9% |
| Recurring financial charges | 65 | €448 | €296 | -€152 | -33.9% |
| Profit (loss) for the period before taxes | 9903 | €56,106 | €100,140 | +€44,033 | +78.5% |
| Income taxes | 67/77 | €12,998 | €22,895 | +€9,897 | +76.1% |
| Profit (loss) for the period | 9904 | €43,108 | €77,244 | +€34,136 | +79.2% |
| Profit (loss) for the period to be appropriated | 9905 | €43,108 | €77,244 | +€34,136 | +79.2% |
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.