Maxoria: 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.
Maxoria
Largest movements
- Receivables within one year +€12,471
up €12,471 (+31.1%), from €40,131 to €52,602
of which Trade receivables: +€6,938
- Tangible fixed assets -€4,912
down €4,912 (-12.3%), from €39,869 to €34,957
of which Other tangible fixed assets: -€4,332
- Stocks and contracts +€1,489
up €1,489 (+11.6%), from €12,815 to €14,304
- Profit (loss) carried forward +€10,307
up €10,307 (+31.4%), from €32,834 to €43,141
- Trade debts -€3,778
down €3,778 (-34.2%), from €11,042 to €7,264
- Other debts +€3,341
up €3,341 (+9.7%), from €34,553 to €37,894
- Current portion of long-term debt +€1,957
new in 2025: €1,957
- Debts after one year -€1,956
down €1,956 (-14.8%), from €13,204 to €11,248
- Gross operating margin -€30,931
down €30,931 (-37.3%), from €82,919 to €51,988
- Taxes -€5,576
down €5,576 (-33.6%), from €16,575 to €10,999
- Financial income +€1,885
new in 2025: €1,885
of which Non-recurring financial income: +€1,776
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 | €129,962 | €137,398 | +€7,436 | +5.7% |
| Fixed assets | 21/28 | €41,116 | €35,543 | -€5,573 | -13.6% |
| Intangible fixed assets | 21 | €1,247 | €586 | -€661 | -53.0% |
| Tangible fixed assets | 22/27 | €39,869 | €34,957 | -€4,912 | -12.3% |
| Furniture and vehicles | 24 | €2,793 | €2,213 | -€580 | -20.8% |
| Other tangible fixed assets | 26 | €37,076 | €32,744 | -€4,332 | -11.7% |
| Current assets | 29/58 | €88,846 | €101,855 | +€13,009 | +14.6% |
| Stocks and contracts in progress | 3 | €12,815 | €14,304 | +€1,489 | +11.6% |
| Stocks | 30/36 | €12,815 | €14,304 | +€1,489 | +11.6% |
| Amounts receivable within one year | 40/41 | €40,131 | €52,602 | +€12,471 | +31.1% |
| Trade receivables | 40 | €40,131 | €47,069 | +€6,938 | +17.3% |
| Other amounts receivable | 41 | - | €5,533 | +€5,533 | |
| Cash at bank and in hand | 54/58 | €35,900 | €34,949 | -€951 | -2.6% |
| Total equity and liabilities | 10/49 | €129,962 | €137,398 | +€7,436 | +5.7% |
| Equity | 10/15 | €51,434 | €61,741 | +€10,307 | +20.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,834 | €43,141 | +€10,307 | +31.4% |
| Amounts payable | 17/49 | €78,528 | €75,657 | -€2,871 | -3.7% |
| Amounts payable after more than one year | 17 | €13,204 | €11,248 | -€1,956 | -14.8% |
| Financial debts | 170/4 | €13,204 | €11,248 | -€1,956 | -14.8% |
| Amounts payable within one year | 42/48 | €65,324 | €64,409 | -€915 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | - | €1,957 | +€1,957 | |
| Financial debts | 43 | €1,912 | - | -€1,912 | |
| Credit institutions | 430/8 | €1,912 | - | -€1,912 | |
| Trade debts | 44 | €11,042 | €7,264 | -€3,778 | -34.2% |
| Suppliers | 440/4 | €11,042 | €7,264 | -€3,778 | -34.2% |
| Taxes, remuneration and social security | 45 | €17,817 | €17,294 | -€523 | -2.9% |
| Taxes | 450/3 | €17,817 | €17,294 | -€523 | -2.9% |
| Other amounts payable | 47/48 | €34,553 | €37,894 | +€3,341 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,106 | €6,898 | +€792 | +13.0% |
| Other operating charges | 640/8 | €997 | €987 | -€10 | -1.0% |
| Gross operating margin | 9900 | €82,919 | €51,988 | -€30,931 | -37.3% |
| Operating profit (loss) | 9901 | €75,816 | €44,103 | -€31,713 | -41.8% |
| Financial income | 75/76B | - | €1,885 | +€1,885 | |
| Recurring financial income | 75 | - | €109 | +€109 | |
| Non-recurring financial income | 76B | - | €1,776 | +€1,776 | |
| Financial charges | 65/66B | €942 | €144 | -€798 | -84.7% |
| Recurring financial charges | 65 | €942 | €144 | -€798 | -84.7% |
| Profit (loss) for the period before taxes | 9903 | €74,874 | €45,844 | -€29,030 | -38.8% |
| Income taxes | 67/77 | €16,575 | €10,999 | -€5,576 | -33.6% |
| Profit (loss) for the period | 9904 | €58,299 | €34,845 | -€23,454 | -40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,299 | €34,845 | -€23,454 | -40.2% |
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 8 October 2026 via checked.be.