MAXOLY: 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.
MAXOLY
Largest movements
- Receivables within one year -€43,868
down €43,868 (-51.5%), from €85,151 to €41,283
- Tangible fixed assets -€13,350
down €13,350 (-6.4%), from €209,754 to €196,404
of which Land and buildings: -€10,204
- Profit (loss) carried forward -€67,562
down €67,562, from €16,846 to -€50,716
- Trade debts +€47,490
up €47,490 (+129%), from €36,950 to €84,440
- Debts after one year -€31,201
down €31,201 (-61.9%), from €50,379 to €19,178
- Tax, wage and social debts -€9,674
down €9,674 (-72.1%), from €13,420 to €3,746
- Short-term financial debts +€4,059
up €4,059 (+3.8%), from €105,844 to €109,903
- Gross operating margin -€37,379
down €37,379 (-603%), from -€6,197 to -€43,576
- Financial charges -€3,033
down €3,033 (-22.6%), from €13,440 to €10,407
- Taxes -€1,468
no longer reported in 2026 (was €1,468)
- Other operating charges +€572
up €572 (+40.0%), from €1,429 to €2,001
- Financial income +€472
up €472 (+36.3%), from €1,299 to €1,771
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €296,415 | €238,173 | -€58,243 | -19.6% |
| Fixed assets | 21/28 | €209,754 | €196,404 | -€13,350 | -6.4% |
| Tangible fixed assets | 22/27 | €209,754 | €196,404 | -€13,350 | -6.4% |
| Land and buildings | 22 | €193,221 | €183,016 | -€10,204 | -5.3% |
| Plant, machinery and equipment | 23 | €1,967 | €1,127 | -€839 | -42.7% |
| Furniture and vehicles | 24 | €14,326 | €12,261 | -€2,066 | -14.4% |
| Other tangible fixed assets | 26 | €240 | €0 | -€240 | -100% |
| Current assets | 29/58 | €86,661 | €41,768 | -€44,893 | -51.8% |
| Amounts receivable within one year | 40/41 | €85,151 | €41,283 | -€43,868 | -51.5% |
| Trade receivables | 40 | €85,151 | €41,283 | -€43,868 | -51.5% |
| Cash at bank and in hand | 54/58 | €1,090 | - | -€1,090 | |
| Deferred charges and accrued income | 490/1 | €420 | €485 | +€65 | +15.5% |
| Total equity and liabilities | 10/49 | €296,415 | €238,173 | -€58,243 | -19.6% |
| Equity | 10/15 | €38,846 | -€28,716 | -€67,562 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,846 | -€50,716 | -€67,562 | |
| Amounts payable | 17/49 | €257,569 | €266,889 | +€9,320 | +3.6% |
| Amounts payable after more than one year | 17 | €50,379 | €19,178 | -€31,201 | -61.9% |
| Financial debts | 170/4 | €50,379 | €19,178 | -€31,201 | -61.9% |
| Amounts payable within one year | 42/48 | €207,190 | €247,711 | +€40,520 | +19.6% |
| Current portion of amounts payable after more than one year | 42 | €24,842 | €23,115 | -€1,727 | -7.0% |
| Financial debts | 43 | €105,844 | €109,903 | +€4,059 | +3.8% |
| Credit institutions | 430/8 | €105,844 | €109,903 | +€4,059 | +3.8% |
| Trade debts | 44 | €36,950 | €84,440 | +€47,490 | +129% |
| Suppliers | 440/4 | €36,950 | €84,440 | +€47,490 | +129% |
| Taxes, remuneration and social security | 45 | €13,420 | €3,746 | -€9,674 | -72.1% |
| Taxes | 450/3 | €13,420 | €3,746 | -€9,674 | -72.1% |
| Other amounts payable | 47/48 | €26,135 | €26,507 | +€372 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,533 | €13,350 | -€183 | -1.4% |
| Other operating charges | 640/8 | €1,429 | €2,001 | +€572 | +40.0% |
| Gross operating margin | 9900 | -€6,197 | -€43,576 | -€37,379 | -603% |
| Operating profit (loss) | 9901 | -€21,158 | -€58,927 | -€37,768 | -179% |
| Financial income | 75/76B | €1,299 | €1,771 | +€472 | +36.3% |
| Recurring financial income | 75 | €1,299 | €1,771 | +€472 | +36.3% |
| Financial charges | 65/66B | €13,440 | €10,407 | -€3,033 | -22.6% |
| Recurring financial charges | 65 | €13,440 | €10,407 | -€3,033 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | -€33,299 | -€67,562 | -€34,263 | -103% |
| Income taxes | 67/77 | €1,468 | - | -€1,468 | |
| Profit (loss) for the period | 9904 | -€34,767 | -€67,562 | -€32,796 | -94.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,767 | -€67,562 | -€32,796 | -94.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.