MAXMAEL: 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.
MAXMAEL
Largest movements
- Cash -€8,480
down €8,480 (-84.0%), from €10,095 to €1,615
mainly Net result for the year (-€11,584) and Receivables within one year (-€1,514)
- Receivables within one year +€1,514
up €1,514 (+433.5%), from €349 to €1,863
of which Trade receivables: +€1,200
- Tangible fixed assets -€1,274
down €1,274 (-38.0%), from €3,350 to €2,076
of which Furniture and vehicles: -€707
- Stocks and contracts -€460
down €460 (-32.4%), from €1,420 to €960
- Profit (loss) carried forward -€11,584
down €11,584 (-171.4%), from -€6,761 to -€18,345
- Other debts +€2,950
up €2,950 (+451.0%), from €654 to €3,604
- Gross operating margin -€947
down €947 (-10.4%), from -€9,118 to -€10,065
- Purchases and services +€920
up €920 (+2.1%), from €43,724 to €44,644
- Financial income +€328
up €328 (+6311.0%), from €5 to €333
- Financial charges -€119
down €119 (-34.9%), from €341 to €222
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 | €15,214 | €6,564 | -€8,650 | -56.9% |
| Fixed assets | 21/28 | €3,350 | €2,076 | -€1,274 | -38.0% |
| Tangible fixed assets | 22/27 | €3,350 | €2,076 | -€1,274 | -38.0% |
| Plant, machinery and equipment | 23 | €759 | €192 | -€567 | -74.7% |
| Furniture and vehicles | 24 | €2,591 | €1,883 | -€707 | -27.3% |
| Current assets | 29/58 | €11,864 | €4,488 | -€7,376 | -62.2% |
| Stocks and contracts in progress | 3 | €1,420 | €960 | -€460 | -32.4% |
| Stocks | 30/36 | €1,420 | €960 | -€460 | -32.4% |
| Amounts receivable within one year | 40/41 | €349 | €1,863 | +€1,514 | +433.5% |
| Trade receivables | 40 | €0 | €1,200 | +€1,200 | |
| Other amounts receivable | 41 | €349 | €663 | +€314 | +89.9% |
| Cash at bank and in hand | 54/58 | €10,095 | €1,615 | -€8,480 | -84.0% |
| Deferred charges and accrued income | 490/1 | - | €50 | +€50 | |
| Total equity and liabilities | 10/49 | €15,214 | €6,564 | -€8,650 | -56.9% |
| Equity | 10/15 | €13,700 | €2,115 | -€11,584 | -84.6% |
| 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 | -€6,761 | -€18,345 | -€11,584 | -171.4% |
| Amounts payable | 17/49 | €1,514 | €4,449 | +€2,934 | +193.8% |
| Amounts payable within one year | 42/48 | €1,514 | €4,449 | +€2,934 | +193.8% |
| Trade debts | 44 | €730 | €844 | +€114 | +15.7% |
| Suppliers | 440/4 | €730 | €844 | +€114 | +15.7% |
| Taxes, remuneration and social security | 45 | €130 | €0 | -€130 | -100.0% |
| Taxes | 450/3 | €130 | €0 | -€130 | -100.0% |
| Other amounts payable | 47/48 | €654 | €3,604 | +€2,950 | +451.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €43,724 | €44,644 | +€920 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,274 | €1,274 | = | 0.0% |
| Other operating charges | 640/8 | €370 | €357 | -€13 | -3.5% |
| Gross operating margin | 9900 | -€9,118 | -€10,065 | -€947 | -10.4% |
| Operating profit (loss) | 9901 | -€10,761 | -€11,695 | -€934 | -8.7% |
| Financial income | 75/76B | €5 | €333 | +€328 | +6311.0% |
| Recurring financial income | 75 | €5 | €333 | +€328 | +6311.0% |
| Financial charges | 65/66B | €341 | €222 | -€119 | -34.9% |
| Recurring financial charges | 65 | €341 | €222 | -€119 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | -€11,098 | -€11,584 | -€487 | -4.4% |
| Profit (loss) for the period | 9904 | -€11,098 | -€11,584 | -€487 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,098 | -€11,584 | -€487 | -4.4% |
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 1 October 2026 via checked.be.