Maxon: 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.
Maxon
Largest movements
- Tangible fixed assets -€25,983
down €25,983 (-9.8%), from €264,283 to €238,300
of which Land and buildings: -€25,182
- Receivables within one year -€13,520
down €13,520 (-22.3%), from €60,724 to €47,204
of which Trade receivables: -€13,410
- Cash +€11,909
new in 2025: €11,909
mainly Depreciation (+€28,483) and Net result for the year (+€19,538)
- Reserves +€19,538
up €19,538 (+9.1%), from €214,860 to €234,398
of which Distributable reserves: +€19,538
- Debts after one year -€19,188
down €19,188 (-47.9%), from €40,055 to €20,867
- Trade debts -€17,204
down €17,204 (-92.1%), from €18,684 to €1,480
- Other debts -€7,698
down €7,698 (-4.6%), from €167,396 to €159,698
- Gross operating margin +€11,925
up €11,925 (+23.7%), from €50,368 to €62,293
- Taxes +€2,303
up €2,303 (+32.0%), from €7,202 to €9,505
- Depreciation -€1,776
down €1,776 (-5.9%), from €30,259 to €28,483
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 | €486,791 | €463,930 | -€22,861 | -4.7% |
| Fixed assets | 21/28 | €264,283 | €238,300 | -€25,983 | -9.8% |
| Tangible fixed assets | 22/27 | €264,283 | €238,300 | -€25,983 | -9.8% |
| Land and buildings | 22 | €250,589 | €225,407 | -€25,182 | -10.0% |
| Plant, machinery and equipment | 23 | €1,102 | €841 | -€261 | -23.7% |
| Furniture and vehicles | 24 | €6,392 | €5,852 | -€540 | -8.4% |
| Other tangible fixed assets | 26 | €6,200 | €6,200 | = | 0.0% |
| Current assets | 29/58 | €222,508 | €225,631 | +€3,122 | +1.4% |
| Amounts receivable after more than one year | 29 | €138,125 | €138,125 | = | 0.0% |
| Other amounts receivable | 291 | €138,125 | €138,125 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €60,724 | €47,204 | -€13,520 | -22.3% |
| Trade receivables | 40 | €45,614 | €32,204 | -€13,410 | -29.4% |
| Other amounts receivable | 41 | €15,110 | €15,000 | -€110 | -0.7% |
| Cash at bank and in hand | 54/58 | - | €11,909 | +€11,909 | |
| Deferred charges and accrued income | 490/1 | €23,659 | €28,392 | +€4,733 | +20.0% |
| Total equity and liabilities | 10/49 | €486,791 | €463,930 | -€22,861 | -4.7% |
| Equity | 10/15 | €221,060 | €240,598 | +€19,538 | +8.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €214,860 | €234,398 | +€19,538 | +9.1% |
| Tax-exempt reserves | 132 | €67,585 | €67,585 | = | 0.0% |
| Distributable reserves | 133 | €147,275 | €166,813 | +€19,538 | +13.3% |
| Amounts payable | 17/49 | €265,731 | €223,332 | -€42,399 | -16.0% |
| Amounts payable after more than one year | 17 | €40,055 | €20,867 | -€19,188 | -47.9% |
| Financial debts | 170/4 | €40,055 | €20,867 | -€19,188 | -47.9% |
| Amounts payable within one year | 42/48 | €225,676 | €202,465 | -€23,211 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €19,188 | €19,188 | = | 0.0% |
| Financial debts | 43 | €478 | - | -€478 | |
| Other loans | 439 | €478 | - | -€478 | |
| Trade debts | 44 | €18,684 | €1,480 | -€17,204 | -92.1% |
| Suppliers | 440/4 | €18,684 | €1,480 | -€17,204 | -92.1% |
| Taxes, remuneration and social security | 45 | €19,930 | €22,099 | +€2,169 | +10.9% |
| Taxes | 450/3 | €19,000 | €20,999 | +€1,999 | +10.5% |
| Remuneration and social security | 454/9 | €930 | €1,100 | +€170 | +18.3% |
| Other amounts payable | 47/48 | €167,396 | €159,698 | -€7,698 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,259 | €28,483 | -€1,776 | -5.9% |
| Other operating charges | 640/8 | €1,835 | €1,939 | +€104 | +5.7% |
| Gross operating margin | 9900 | €50,368 | €62,293 | +€11,925 | +23.7% |
| Operating profit (loss) | 9901 | €18,275 | €31,871 | +€13,596 | +74.4% |
| Financial income | 75/76B | €9,861 | €9,545 | -€316 | -3.2% |
| Recurring financial income | 75 | €9,861 | €9,545 | -€316 | -3.2% |
| Financial charges | 65/66B | €12,436 | €12,373 | -€64 | -0.5% |
| Recurring financial charges | 65 | €12,436 | €12,373 | -€64 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €15,700 | €29,043 | +€13,343 | +85.0% |
| Income taxes | 67/77 | €7,202 | €9,505 | +€2,303 | +32.0% |
| Profit (loss) for the period | 9904 | €8,498 | €19,538 | +€11,040 | +130% |
| Profit (loss) for the period to be appropriated | 9905 | €8,498 | €19,538 | +€11,040 | +130% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.