MaxLew: 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.
MaxLew
Largest movements
- Cash -€65,301
down €65,301 (-77.5%), from €84,212 to €18,910
mainly Contributions, distributions and other (-€142,359) and Receivables within one year (-€9,642)
- Receivables within one year +€9,642
up €9,642 (+213%), from €4,525 to €14,167
of which Trade receivables: +€7,944
- Tangible fixed assets -€6,536
down €6,536 (-31.6%), from €20,704 to €14,168
of which Furniture and vehicles: -€5,682
- Reserves -€100,000
down €100,000 (-100%), from €100,000 to €0
- Other debts +€35,702
up €35,702, from €0 to €35,702
- Tax, wage and social debts +€2,129
up €2,129 (+24.7%), from €8,638 to €10,768
of which Taxes: +€2,129
- Gross operating margin -€17,344
down €17,344 (-21.9%), from €79,022 to €61,677
- Taxes -€3,676
down €3,676 (-23.7%), from €15,502 to €11,826
- Other operating charges +€946
up €946 (+236%), from €401 to €1,347
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 | €110,586 | €48,470 | -€62,116 | -56.2% |
| Fixed assets | 21/28 | €20,704 | €14,168 | -€6,536 | -31.6% |
| Tangible fixed assets | 22/27 | €20,704 | €14,168 | -€6,536 | -31.6% |
| Furniture and vehicles | 24 | €13,897 | €8,215 | -€5,682 | -40.9% |
| Other tangible fixed assets | 26 | €6,808 | €5,954 | -€854 | -12.5% |
| Current assets | 29/58 | €89,882 | €34,302 | -€55,580 | -61.8% |
| Amounts receivable within one year | 40/41 | €4,525 | €14,167 | +€9,642 | +213% |
| Trade receivables | 40 | €3,049 | €10,993 | +€7,944 | +261% |
| Other amounts receivable | 41 | €1,475 | €3,174 | +€1,698 | +115% |
| Cash at bank and in hand | 54/58 | €84,212 | €18,910 | -€65,301 | -77.5% |
| Deferred charges and accrued income | 490/1 | €1,146 | €1,225 | +€79 | +6.9% |
| Total equity and liabilities | 10/49 | €110,586 | €48,470 | -€62,116 | -56.2% |
| Equity | 10/15 | €100,791 | €243 | -€100,548 | -99.8% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €100,000 | €0 | -€100,000 | -100% |
| Distributable reserves | 133 | €100,000 | €0 | -€100,000 | -100% |
| Profit (loss) carried forward | 14 | €691 | €143 | -€548 | -79.4% |
| Amounts payable | 17/49 | €9,795 | €48,227 | +€38,432 | +392% |
| Amounts payable within one year | 42/48 | €9,795 | €48,227 | +€38,432 | +392% |
| Trade debts | 44 | €1,157 | €1,758 | +€600 | +51.9% |
| Suppliers | 440/4 | €1,157 | €1,758 | +€600 | +51.9% |
| Taxes, remuneration and social security | 45 | €8,638 | €10,768 | +€2,129 | +24.7% |
| Taxes | 450/3 | €8,638 | €10,768 | +€2,129 | +24.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €35,702 | +€35,702 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,327 | €6,536 | +€209 | +3.3% |
| Other operating charges | 640/8 | €401 | €1,347 | +€946 | +236% |
| Gross operating margin | 9900 | €79,022 | €61,677 | -€17,344 | -21.9% |
| Operating profit (loss) | 9901 | €72,294 | €53,794 | -€18,500 | -25.6% |
| Financial income | 75/76B | €6 | €3 | -€3 | -49.9% |
| Recurring financial income | 75 | €6 | €3 | -€3 | -49.9% |
| Financial charges | 65/66B | €135 | €160 | +€25 | +18.8% |
| Recurring financial charges | 65 | €135 | €160 | +€25 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €72,165 | €53,637 | -€18,528 | -25.7% |
| Income taxes | 67/77 | €15,502 | €11,826 | -€3,676 | -23.7% |
| Profit (loss) for the period | 9904 | €56,663 | €41,811 | -€14,852 | -26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,663 | €41,811 | -€14,852 | -26.2% |
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 15 October 2026 via checked.be.