MAXMAT: 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.
MAXMAT
Largest movements
- Tangible fixed assets -€37,157
down €37,157 (-100.0%), from €37,157 to €0
of which Plant, machinery and equipment: -€33,909
- Receivables within one year -€8,386
down €8,386 (-93.8%), from €8,943 to €557
of which Trade receivables: -€8,772
- Cash -€2,124
down €2,124 (-2.0%), from €107,489 to €105,365
mainly Trade debts (-€33,115) and Tax, wage and social debts (-€11,349)
- Trade debts -€33,115
down €33,115 (-98.6%), from €33,597 to €481
- Tax, wage and social debts -€11,349
down €11,349 (-51.0%), from €22,251 to €10,902
of which Remuneration and social security: -€11,927
- Other debts -€4,197
down €4,197 (-5.0%), from €84,056 to €79,859
- Gross operating margin -€169,403
down €169,403 (-77.2%), from €219,359 to €49,956
- Staff costs -€126,697
down €126,697 (-73.3%), from €172,945 to €46,247
- Depreciation -€9,168
down €9,168 (-100.0%), from €9,168 to €0
- Taxes -€6,365
down €6,365 (-78.1%), from €8,150 to €1,786
- Financial charges -€3,660
down €3,660 (-78.4%), from €4,671 to €1,011
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 | €154,635 | €105,923 | -€48,712 | -31.5% |
| Fixed assets | 21/28 | €37,157 | €0 | -€37,157 | -100.0% |
| Tangible fixed assets | 22/27 | €37,157 | €0 | -€37,157 | -100.0% |
| Plant, machinery and equipment | 23 | €33,909 | €0 | -€33,909 | -100.0% |
| Furniture and vehicles | 24 | €2,608 | €0 | -€2,608 | -100.0% |
| Other tangible fixed assets | 26 | €640 | €0 | -€640 | -100.0% |
| Current assets | 29/58 | €117,478 | €105,923 | -€11,555 | -9.8% |
| Amounts receivable within one year | 40/41 | €8,943 | €557 | -€8,386 | -93.8% |
| Trade receivables | 40 | €8,772 | €0 | -€8,772 | -100.0% |
| Other amounts receivable | 41 | €171 | €557 | +€386 | +225.1% |
| Cash at bank and in hand | 54/58 | €107,489 | €105,365 | -€2,124 | -2.0% |
| Deferred charges and accrued income | 490/1 | €1,046 | €0 | -€1,046 | -100.0% |
| Total equity and liabilities | 10/49 | €154,635 | €105,923 | -€48,712 | -31.5% |
| Equity | 10/15 | €14,731 | €14,681 | -€51 | -0.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €29,300 | €29,300 | = | 0.0% |
| Distributable reserves | 133 | €29,300 | €29,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,569 | -€24,619 | -€51 | -0.2% |
| Amounts payable | 17/49 | €139,904 | €91,242 | -€48,662 | -34.8% |
| Amounts payable within one year | 42/48 | €139,904 | €91,242 | -€48,662 | -34.8% |
| Trade debts | 44 | €33,597 | €481 | -€33,115 | -98.6% |
| Suppliers | 440/4 | €33,597 | €481 | -€33,115 | -98.6% |
| Taxes, remuneration and social security | 45 | €22,251 | €10,902 | -€11,349 | -51.0% |
| Taxes | 450/3 | €9,458 | €10,036 | +€577 | +6.1% |
| Remuneration and social security | 454/9 | €12,792 | €866 | -€11,927 | -93.2% |
| Other amounts payable | 47/48 | €84,056 | €79,859 | -€4,197 | -5.0% |
| Non-recurring operating income | 76A | €16,075 | €36,343 | +€20,268 | +126.1% |
| Remuneration, social security and pensions | 62 | €172,945 | €46,247 | -€126,697 | -73.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,168 | €0 | -€9,168 | -100.0% |
| Other operating charges | 640/8 | €1,621 | €965 | -€656 | -40.5% |
| Gross operating margin | 9900 | €219,359 | €49,956 | -€169,403 | -77.2% |
| Operating profit (loss) | 9901 | €35,625 | €2,743 | -€32,882 | -92.3% |
| Financial income | 75/76B | €9 | €3 | -€6 | -65.7% |
| Recurring financial income | 75 | €9 | €3 | -€6 | -65.7% |
| Financial charges | 65/66B | €4,671 | €1,011 | -€3,660 | -78.4% |
| Recurring financial charges | 65 | €4,671 | €1,011 | -€3,660 | -78.4% |
| Profit (loss) for the period before taxes | 9903 | €30,963 | €1,735 | -€29,228 | -94.4% |
| Income taxes | 67/77 | €8,150 | €1,786 | -€6,365 | -78.1% |
| Profit (loss) for the period | 9904 | €22,813 | -€51 | -€22,864 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,813 | -€51 | -€22,864 |
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 5 October 2026 via checked.be.