MAXLI: 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.
MAXLI
Largest movements
- Stocks and contracts +€193,192
up €193,192 (+43.8%), from €441,464 to €634,656
- Tangible fixed assets -€36,406
down €36,406 (-61.4%), from €59,284 to €22,878
of which Land and buildings: -€36,552
- Receivables within one year -€15,504
down €15,504 (-10.6%), from €146,118 to €130,614
of which Other amounts receivable: -€118,638
- Other debts +€189,915
up €189,915 (+234%), from €81,085 to €271,000
- Short-term financial debts -€110,000
no longer reported in 2024 (was €110,000)
- Debts after one year +€41,737
up €41,737 (+43.6%), from €95,632 to €137,369
of which Other amounts payable: +€110,000
- Tax, wage and social debts +€38,282
up €38,282 (+504%), from €7,600 to €45,881
of which Taxes: +€45,881
- Staff costs -€45,070
down €45,070 (-98.9%), from €45,570 to €500
- Other operating charges +€30,401
up €30,401 (+55,275%), from €55 to €30,456
- Taxes +€16,813
up €16,813 (+3,434%), from €490 to €17,303
- Financial charges +€3,078
up €3,078 (+17.9%), from €17,207 to €20,285
- Gross operating margin -€1,730
down €1,730 (-1.7%), from €100,424 to €98,693
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €782,466 | €931,071 | +€148,605 | +19.0% |
| Fixed assets | 21/28 | €60,796 | €24,389 | -€36,406 | -59.9% |
| Tangible fixed assets | 22/27 | €59,284 | €22,878 | -€36,406 | -61.4% |
| Land and buildings | 22 | €58,604 | €22,052 | -€36,552 | -62.4% |
| Furniture and vehicles | 24 | €680 | €826 | +€146 | +21.4% |
| Financial fixed assets | 28 | €1,511 | €1,511 | = | 0.0% |
| Current assets | 29/58 | €721,670 | €906,682 | +€185,011 | +25.6% |
| Stocks and contracts in progress | 3 | €441,464 | €634,656 | +€193,192 | +43.8% |
| Stocks | 30/36 | €441,464 | €634,656 | +€193,192 | +43.8% |
| Amounts receivable within one year | 40/41 | €146,118 | €130,614 | -€15,504 | -10.6% |
| Trade receivables | 40 | €23,919 | €127,052 | +€103,134 | +431% |
| Other amounts receivable | 41 | €122,199 | €3,561 | -€118,638 | -97.1% |
| Cash at bank and in hand | 54/58 | €134,088 | €140,875 | +€6,787 | +5.1% |
| Deferred charges and accrued income | 490/1 | - | €537 | +€537 | |
| Total equity and liabilities | 10/49 | €782,466 | €931,071 | +€148,605 | +19.0% |
| Equity | 10/15 | €418,685 | €412,307 | -€6,378 | -1.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €398,225 | €391,847 | -€6,378 | -1.6% |
| Amounts payable | 17/49 | €363,781 | €518,764 | +€154,983 | +42.6% |
| Amounts payable after more than one year | 17 | €95,632 | €137,369 | +€41,737 | +43.6% |
| Financial debts | 170/4 | €95,632 | €27,369 | -€68,263 | -71.4% |
| Other amounts payable | 178/9 | - | €110,000 | +€110,000 | |
| Amounts payable within one year | 42/48 | €268,149 | €381,395 | +€113,246 | +42.2% |
| Current portion of amounts payable after more than one year | 42 | €67,360 | €64,364 | -€2,996 | -4.4% |
| Financial debts | 43 | €110,000 | - | -€110,000 | |
| Credit institutions | 430/8 | €110,000 | - | -€110,000 | |
| Trade debts | 44 | €2,105 | €150 | -€1,955 | -92.9% |
| Suppliers | 440/4 | €2,105 | €150 | -€1,955 | -92.9% |
| Taxes, remuneration and social security | 45 | €7,600 | €45,881 | +€38,282 | +504% |
| Taxes | 450/3 | - | €45,881 | +€45,881 | |
| Remuneration and social security | 454/9 | €7,600 | - | -€7,600 | |
| Other amounts payable | 47/48 | €81,085 | €271,000 | +€189,915 | +234% |
| Remuneration, social security and pensions | 62 | €45,570 | €500 | -€45,070 | -98.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,306 | €36,995 | -€311 | -0.8% |
| Other operating charges | 640/8 | €55 | €30,456 | +€30,401 | +55,275% |
| Gross operating margin | 9900 | €100,424 | €98,693 | -€1,730 | -1.7% |
| Operating profit (loss) | 9901 | €17,493 | €30,742 | +€13,249 | +75.7% |
| Financial income | 75/76B | - | €468 | +€468 | |
| Recurring financial income | 75 | - | €468 | +€468 | |
| Financial charges | 65/66B | €17,207 | €20,285 | +€3,078 | +17.9% |
| Recurring financial charges | 65 | €17,207 | €20,285 | +€3,078 | +17.9% |
| Profit (loss) for the period before taxes | 9903 | €286 | €10,925 | +€10,639 | +3,715% |
| Income taxes | 67/77 | €490 | €17,303 | +€16,813 | +3,434% |
| Profit (loss) for the period | 9904 | -€203 | -€6,378 | -€6,174 | -3,038% |
| Profit (loss) for the period to be appropriated | 9905 | -€203 | -€6,378 | -€6,174 | -3,038% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.