Maxolus: 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.
Maxolus
Largest movements
- Cash +€56,504
up €56,504 (+190%), from €29,750 to €86,254
mainly Net result for the year (+€65,021) and Tax, wage and social debts (+€15,102)
- Receivables within one year +€19,758
up €19,758 (+203%), from €9,750 to €29,508
- Tangible fixed assets -€9,235
down €9,235 (-18.0%), from €51,195 to €41,960
of which Furniture and vehicles: -€9,701
- Reserves +€65,021
up €65,021 (+303%), from €21,472 to €86,493
- Tax, wage and social debts +€15,102
up €15,102 (+98.9%), from €15,267 to €30,369
of which Taxes: +€21,340
- Debts after one year -€6,872
down €6,872 (-22.7%), from €30,227 to €23,355
- Other debts -€3,818
down €3,818 (-37.4%), from €10,221 to €6,403
- Trade debts -€3,552
down €3,552 (-100%), from €3,552 to €0
- Gross operating margin +€62,360
up €62,360 (+194%), from €32,190 to €94,550
- Taxes +€11,075
up €11,075 (+193%), from €5,724 to €16,799
- Depreciation +€7,148
up €7,148 (+184%), from €3,880 to €11,028
- Financial charges +€1,051
up €1,051 (+133%), from €792 to €1,843
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 | €90,948 | €158,073 | +€67,125 | +73.8% |
| Fixed assets | 21/28 | €51,195 | €41,960 | -€9,235 | -18.0% |
| Tangible fixed assets | 22/27 | €51,195 | €41,960 | -€9,235 | -18.0% |
| Plant, machinery and equipment | 23 | €3,721 | €4,187 | +€466 | +12.5% |
| Furniture and vehicles | 24 | €47,474 | €37,773 | -€9,701 | -20.4% |
| Current assets | 29/58 | €39,752 | €116,113 | +€76,361 | +192% |
| Amounts receivable within one year | 40/41 | €9,750 | €29,508 | +€19,758 | +203% |
| Trade receivables | 40 | €9,750 | €29,508 | +€19,758 | +203% |
| Cash at bank and in hand | 54/58 | €29,750 | €86,254 | +€56,504 | +190% |
| Deferred charges and accrued income | 490/1 | €252 | €351 | +€98 | +39.0% |
| Total equity and liabilities | 10/49 | €90,948 | €158,073 | +€67,125 | +73.8% |
| Equity | 10/15 | €22,472 | €87,493 | +€65,021 | +289% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €21,472 | €86,493 | +€65,021 | +303% |
| Distributable reserves | 133 | €21,472 | €86,493 | +€65,021 | +303% |
| Amounts payable | 17/49 | €68,476 | €70,580 | +€2,105 | +3.1% |
| Amounts payable after more than one year | 17 | €30,227 | €23,355 | -€6,872 | -22.7% |
| Financial debts | 170/4 | €30,227 | €23,355 | -€6,872 | -22.7% |
| Amounts payable within one year | 42/48 | €38,248 | €44,959 | +€6,711 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €9,207 | €8,187 | -€1,020 | -11.1% |
| Trade debts | 44 | €3,552 | €0 | -€3,552 | -100% |
| Suppliers | 440/4 | €3,552 | €0 | -€3,552 | -100% |
| Taxes, remuneration and social security | 45 | €15,267 | €30,369 | +€15,102 | +98.9% |
| Taxes | 450/3 | €9,029 | €30,369 | +€21,340 | +236% |
| Remuneration and social security | 454/9 | €6,238 | €0 | -€6,238 | -100% |
| Other amounts payable | 47/48 | €10,221 | €6,403 | -€3,818 | -37.4% |
| Accrued charges and deferred income | 492/3 | - | €2,266 | +€2,266 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,880 | €11,028 | +€7,148 | +184% |
| Other operating charges | 640/8 | €322 | €0 | -€322 | -100% |
| Gross operating margin | 9900 | €32,190 | €94,550 | +€62,360 | +194% |
| Operating profit (loss) | 9901 | €27,989 | €83,522 | +€55,534 | +198% |
| Financial income | 75/76B | - | €141 | +€141 | |
| Recurring financial income | 75 | - | €141 | +€141 | |
| Financial charges | 65/66B | €792 | €1,843 | +€1,051 | +133% |
| Recurring financial charges | 65 | €792 | €1,843 | +€1,051 | +133% |
| Profit (loss) for the period before taxes | 9903 | €27,196 | €81,820 | +€54,624 | +201% |
| Income taxes | 67/77 | €5,724 | €16,799 | +€11,075 | +193% |
| Profit (loss) for the period | 9904 | €21,472 | €65,021 | +€43,549 | +203% |
| Profit (loss) for the period to be appropriated | 9905 | €21,472 | €65,021 | +€43,549 | +203% |
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.