MAXP GROUP: what changed
MAXP GROUP
Largest movements
- Receivables within one year +€2,191
up €2,191 (+240%), from €914 to €3,105
of which Trade receivables: +€2,901
- Cash +€891
up €891 (+19.9%), from €4,472 to €5,363
mainly Net result for the year (+€5,920) and Other debts (+€4,853)
- Deferred charges and accrued income +€513
up €513 (+24.5%), from €2,092 to €2,605
- Other debts +€4,853
new in 2025: €4,853
- Tax, wage and social debts -€3,010
down €3,010 (-39.3%), from €7,653 to €4,643
of which Taxes: -€4,877
- Reserves +€2,618
up €2,618 (+31.4%), from €8,331 to €10,949
- Debts after one year -€2,127
no longer reported in 2025 (was €2,127)
- Trade debts +€1,305
up €1,305 (+154%), from €846 to €2,152
- Gross operating margin -€4,976
down €4,976 (-29.9%), from €16,665 to €11,689
- Taxes -€1,575
down €1,575 (-26.9%), from €5,845 to €4,270
- Financial charges -€487
down €487 (-41.8%), from €1,165 to €677
- Other operating charges -€469
down €469 (-35.6%), from €1,318 to €849
- Depreciation -€189
down €189 (-67.5%), from €281 to €91
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,219 | €26,723 | +€3,504 | +15.1% |
| Fixed assets | 21/28 | €15,741 | €15,650 | -€91 | -0.6% |
| Tangible fixed assets | 22/27 | €91 | - | -€91 | |
| Plant, machinery and equipment | 23 | €91 | - | -€91 | |
| Financial fixed assets | 28 | €15,650 | €15,650 | = | 0.0% |
| Current assets | 29/58 | €7,477 | €11,073 | +€3,595 | +48.1% |
| Amounts receivable within one year | 40/41 | €914 | €3,105 | +€2,191 | +240% |
| Trade receivables | 40 | €125 | €3,025 | +€2,901 | +2,330% |
| Other amounts receivable | 41 | €789 | €80 | -€710 | -89.9% |
| Cash at bank and in hand | 54/58 | €4,472 | €5,363 | +€891 | +19.9% |
| Deferred charges and accrued income | 490/1 | €2,092 | €2,605 | +€513 | +24.5% |
| Total equity and liabilities | 10/49 | €23,219 | €26,723 | +€3,504 | +15.1% |
| Equity | 10/15 | €10,331 | €12,949 | +€2,618 | +25.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €8,331 | €10,949 | +€2,618 | +31.4% |
| Distributable reserves | 133 | €8,331 | €10,949 | +€2,618 | +31.4% |
| Amounts payable | 17/49 | €12,888 | €13,774 | +€886 | +6.9% |
| Amounts payable after more than one year | 17 | €2,127 | - | -€2,127 | |
| Financial debts | 170/4 | €2,127 | - | -€2,127 | |
| Amounts payable within one year | 42/48 | €10,761 | €13,774 | +€3,013 | +28.0% |
| Current portion of amounts payable after more than one year | 42 | €2,262 | €2,127 | -€135 | -6.0% |
| Trade debts | 44 | €846 | €2,152 | +€1,305 | +154% |
| Suppliers | 440/4 | €846 | €2,152 | +€1,305 | +154% |
| Taxes, remuneration and social security | 45 | €7,653 | €4,643 | -€3,010 | -39.3% |
| Taxes | 450/3 | €7,653 | €2,776 | -€4,877 | -63.7% |
| Remuneration and social security | 454/9 | - | €1,867 | +€1,867 | |
| Other amounts payable | 47/48 | - | €4,853 | +€4,853 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €281 | €91 | -€189 | -67.5% |
| Other operating charges | 640/8 | €1,318 | €849 | -€469 | -35.6% |
| Gross operating margin | 9900 | €16,665 | €11,689 | -€4,976 | -29.9% |
| Operating profit (loss) | 9901 | €15,066 | €10,749 | -€4,318 | -28.7% |
| Financial income | 75/76B | €83 | €119 | +€37 | +44.1% |
| Recurring financial income | 75 | €83 | €119 | +€37 | +44.1% |
| Financial charges | 65/66B | €1,165 | €677 | -€487 | -41.8% |
| Recurring financial charges | 65 | €1,165 | €677 | -€487 | -41.8% |
| Profit (loss) for the period before taxes | 9903 | €13,984 | €10,191 | -€3,794 | -27.1% |
| Income taxes | 67/77 | €5,845 | €4,270 | -€1,575 | -26.9% |
| Profit (loss) for the period | 9904 | €8,139 | €5,920 | -€2,219 | -27.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,139 | €5,920 | -€2,219 | -27.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.