Maxona: 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.
Maxona
Largest movements
- Tangible fixed assets -€21,587
down €21,587 (-15.3%), from €140,914 to €119,327
- Cash +€20,749
up €20,749 (+11.6%), from €179,379 to €200,129
mainly Depreciation (+€26,213) and Other debts (+€19,324)
- Receivables within one year +€19,076
up €19,076 (+139.3%), from €13,695 to €32,771
of which Trade receivables: +€18,976
- Stocks and contracts +€6,135
up €6,135 (+39.7%), from €15,453 to €21,588
- Deferred charges and accrued income -€3,890
down €3,890 (-75.6%), from €5,148 to €1,257
- Reserves -€27,000
down €27,000 (-12.4%), from €217,000 to €190,000
- Other debts +€19,324
new in 2025: €19,324
- Accrued charges and deferred income +€18,622
new in 2025: €18,622
- Trade debts +€16,178
up €16,178 (+384.5%), from €4,208 to €20,386
- Debts after one year -€15,614
down €15,614 (-16.9%), from €92,661 to €77,046
- Gross operating margin -€41,045
down €41,045 (-45.3%), from €90,601 to €49,556
- Staff costs -€12,103
down €12,103 (-27.0%), from €44,823 to €32,721
- Depreciation -€6,628
down €6,628 (-20.2%), from €32,842 to €26,213
- Other operating charges +€3,718
up €3,718 (+99.7%), from €3,730 to €7,448
- Taxes -€2,602
down €2,602 (-81.3%), from €3,200 to €599
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 | €354,589 | €375,072 | +€20,483 | +5.8% |
| Fixed assets | 21/28 | €140,914 | €119,327 | -€21,587 | -15.3% |
| Tangible fixed assets | 22/27 | €140,914 | €119,327 | -€21,587 | -15.3% |
| Land and buildings | 22 | €22,016 | €17,569 | -€4,447 | -20.2% |
| Plant, machinery and equipment | 23 | €6,012 | €3,615 | -€2,397 | -39.9% |
| Furniture and vehicles | 24 | €19,831 | €12,246 | -€7,585 | -38.2% |
| Other tangible fixed assets | 26 | €93,054 | €85,896 | -€7,158 | -7.7% |
| Current assets | 29/58 | €213,675 | €255,745 | +€42,070 | +19.7% |
| Stocks and contracts in progress | 3 | €15,453 | €21,588 | +€6,135 | +39.7% |
| Stocks | 30/36 | €15,453 | €21,588 | +€6,135 | +39.7% |
| Amounts receivable within one year | 40/41 | €13,695 | €32,771 | +€19,076 | +139.3% |
| Trade receivables | 40 | €1,735 | €20,711 | +€18,976 | +1093.8% |
| Other amounts receivable | 41 | €11,960 | €12,060 | +€100 | +0.8% |
| Cash at bank and in hand | 54/58 | €179,379 | €200,129 | +€20,749 | +11.6% |
| Deferred charges and accrued income | 490/1 | €5,148 | €1,257 | -€3,890 | -75.6% |
| Total equity and liabilities | 10/49 | €354,589 | €375,072 | +€20,483 | +5.8% |
| Equity | 10/15 | €235,619 | €211,018 | -€24,601 | -10.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €217,000 | €190,000 | -€27,000 | -12.4% |
| Distributable reserves | 133 | €217,000 | €190,000 | -€27,000 | -12.4% |
| Profit (loss) carried forward | 14 | €19 | €2,418 | +€2,399 | +12493.7% |
| Amounts payable | 17/49 | €118,969 | €164,054 | +€45,084 | +37.9% |
| Amounts payable after more than one year | 17 | €92,661 | €77,046 | -€15,614 | -16.9% |
| Financial debts | 170/4 | €92,661 | €77,046 | -€15,614 | -16.9% |
| Amounts payable within one year | 42/48 | €26,309 | €68,386 | +€42,077 | +159.9% |
| Current portion of amounts payable after more than one year | 42 | €15,265 | €15,614 | +€349 | +2.3% |
| Trade debts | 44 | €4,208 | €20,386 | +€16,178 | +384.5% |
| Suppliers | 440/4 | €4,208 | €20,386 | +€16,178 | +384.5% |
| Taxes, remuneration and social security | 45 | €6,835 | €13,061 | +€6,225 | +91.1% |
| Taxes | 450/3 | €4,370 | €11,853 | +€7,483 | +171.2% |
| Remuneration and social security | 454/9 | €2,466 | €1,208 | -€1,258 | -51.0% |
| Other amounts payable | 47/48 | - | €19,324 | +€19,324 | |
| Accrued charges and deferred income | 492/3 | - | €18,622 | +€18,622 | |
| Remuneration, social security and pensions | 62 | €44,823 | €32,721 | -€12,103 | -27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,842 | €26,213 | -€6,628 | -20.2% |
| Other operating charges | 640/8 | €3,730 | €7,448 | +€3,718 | +99.7% |
| Gross operating margin | 9900 | €90,601 | €49,556 | -€41,045 | -45.3% |
| Operating profit (loss) | 9901 | €9,206 | -€16,826 | -€26,032 | |
| Financial income | 75/76B | €30 | €22 | -€8 | -27.1% |
| Recurring financial income | 75 | €30 | €22 | -€8 | -27.1% |
| Financial charges | 65/66B | €5,765 | €7,198 | +€1,434 | +24.9% |
| Recurring financial charges | 65 | €5,765 | €7,198 | +€1,434 | +24.9% |
| Profit (loss) for the period before taxes | 9903 | €3,472 | -€24,002 | -€27,474 | |
| Income taxes | 67/77 | €3,200 | €599 | -€2,602 | -81.3% |
| Profit (loss) for the period | 9904 | €271 | -€24,601 | -€24,872 | |
| Profit (loss) for the period to be appropriated | 9905 | €271 | -€24,601 | -€24,872 |
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 10 October 2026 via checked.be.