MAXOU: 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.
MAXOU
Largest movements
- Tangible fixed assets -€29,727
down €29,727 (-24.8%), from €119,672 to €89,945
- Receivables within one year -€7,096
down €7,096 (-58.6%), from €12,108 to €5,012
of which Trade receivables: -€3,723
- Stocks and contracts +€5,078
up €5,078 (+22.6%), from €22,422 to €27,500
- Cash -€3,492
down €3,492 (-17.0%), from €20,579 to €17,087
mainly Trade debts (-€40,546) and Short-term financial debts (-€25,078)
- Intangible fixed assets -€2,458
down €2,458 (-25.3%), from €9,699 to €7,241
- Trade debts -€40,546
down €40,546 (-43.8%), from €92,587 to €52,041
- Profit (loss) carried forward +€37,136
up €37,136 (+58.2%), from -€63,823 to -€26,688
- Short-term financial debts -€25,078
down €25,078 (-85.6%), from €29,296 to €4,218
- Current portion of long-term debt -€24,667
down €24,667 (-100.0%), from €24,667 to €0
- Tax, wage and social debts +€9,491
up €9,491 (+14.9%), from €63,612 to €73,102
of which Taxes: +€14,096
- Provisions -€36,862
down €36,862 (-100.0%), from €36,862 to €0
- Staff costs -€18,524
down €18,524 (-4.0%), from €459,333 to €440,808
- Gross operating margin +€18,166
up €18,166 (+3.5%), from €521,684 to €539,850
- Depreciation -€17,600
down €17,600 (-33.7%), from €52,209 to €34,610
- Financial charges +€8,840
up €8,840 (+95.4%), from €9,264 to €18,103
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €187,034 | €147,557 | -€39,477 | -21.1% |
| Fixed assets | 21/28 | €129,839 | €97,654 | -€32,185 | -24.8% |
| Intangible fixed assets | 21 | €9,699 | €7,241 | -€2,458 | -25.3% |
| Tangible fixed assets | 22/27 | €119,672 | €89,945 | -€29,727 | -24.8% |
| Plant, machinery and equipment | 23 | €67,377 | €54,291 | -€13,086 | -19.4% |
| Furniture and vehicles | 24 | €16,944 | €13,246 | -€3,698 | -21.8% |
| Other tangible fixed assets | 26 | €35,351 | €22,408 | -€12,943 | -36.6% |
| Financial fixed assets | 28 | €468 | €468 | = | 0.0% |
| Current assets | 29/58 | €57,195 | €49,903 | -€7,293 | -12.8% |
| Stocks and contracts in progress | 3 | €22,422 | €27,500 | +€5,078 | +22.6% |
| Stocks | 30/36 | €22,422 | €27,500 | +€5,078 | +22.6% |
| Amounts receivable within one year | 40/41 | €12,108 | €5,012 | -€7,096 | -58.6% |
| Trade receivables | 40 | €8,510 | €4,787 | -€3,723 | -43.7% |
| Other amounts receivable | 41 | €3,598 | €225 | -€3,373 | -93.7% |
| Cash at bank and in hand | 54/58 | €20,579 | €17,087 | -€3,492 | -17.0% |
| Deferred charges and accrued income | 490/1 | €2,086 | €304 | -€1,783 | -85.4% |
| Total equity and liabilities | 10/49 | €187,034 | €147,557 | -€39,477 | -21.1% |
| Equity | 10/15 | -€23,127 | €14,008 | +€37,136 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €22,096 | €22,096 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €22,096 | €22,096 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,823 | -€26,688 | +€37,136 | +58.2% |
| Amounts payable | 17/49 | €210,161 | €133,548 | -€76,613 | -36.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €210,161 | €133,548 | -€76,613 | -36.5% |
| Current portion of amounts payable after more than one year | 42 | €24,667 | €0 | -€24,667 | -100.0% |
| Financial debts | 43 | €29,296 | €4,218 | -€25,078 | -85.6% |
| Credit institutions | 430/8 | €29,296 | €4,218 | -€25,078 | -85.6% |
| Trade debts | 44 | €92,587 | €52,041 | -€40,546 | -43.8% |
| Suppliers | 440/4 | €92,587 | €52,041 | -€40,546 | -43.8% |
| Taxes, remuneration and social security | 45 | €63,612 | €73,102 | +€9,491 | +14.9% |
| Taxes | 450/3 | €25,693 | €39,789 | +€14,096 | +54.9% |
| Remuneration and social security | 454/9 | €37,919 | €33,314 | -€4,605 | -12.1% |
| Other amounts payable | 47/48 | €0 | €4,187 | +€4,187 | |
| Non-recurring operating income | 76A | €35,257 | €0 | -€35,257 | -100.0% |
| Remuneration, social security and pensions | 62 | €459,333 | €440,808 | -€18,524 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,209 | €34,610 | -€17,600 | -33.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €36,862 | €0 | -€36,862 | -100.0% |
| Other operating charges | 640/8 | €1,659 | €9,195 | +€7,537 | +454.4% |
| Non-recurring operating charges | 66A | €3,993 | €0 | -€3,993 | -100.0% |
| Gross operating margin | 9900 | €521,684 | €539,850 | +€18,166 | +3.5% |
| Operating profit (loss) | 9901 | -€32,373 | €55,237 | +€87,609 | |
| Financial income | 75/76B | €13 | €2 | -€10 | -81.9% |
| Recurring financial income | 75 | €13 | €2 | -€10 | -81.9% |
| Financial charges | 65/66B | €9,264 | €18,103 | +€8,840 | +95.4% |
| Recurring financial charges | 65 | €9,264 | €18,103 | +€8,840 | +95.4% |
| Profit (loss) for the period before taxes | 9903 | -€41,623 | €37,136 | +€78,759 | |
| Profit (loss) for the period | 9904 | -€41,623 | €37,136 | +€78,759 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,623 | €37,136 | +€78,759 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.