MAXPAULY: 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.
MAXPAULY
Largest movements
- Cash +€4,031
up €4,031 (+111.5%), from €3,616 to €7,647
mainly Net result for the year (+€5,001) and Deferred charges and accrued income (+€486)
- Receivables within one year +€853
up €853 (+16.6%), from €5,155 to €6,008
of which Other amounts receivable: +€848
- Deferred charges and accrued income -€486
down €486 (-90.3%), from €539 to €52
- Profit (loss) carried forward +€5,001
up €5,001 (+86.6%), from €5,773 to €10,775
- Trade debts -€477
down €477 (-33.8%), from €1,410 to €933
- Gross operating margin +€1,708
up €1,708 (+26.3%), from €6,498 to €8,205
- Depreciation -€1,359
no longer reported in 2025 (was €1,359)
- Taxes +€765
up €765 (+39.4%), from €1,940 to €2,705
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 | €9,309 | €13,708 | +€4,398 | +47.2% |
| Current assets | 29/58 | €9,309 | €13,708 | +€4,398 | +47.2% |
| Amounts receivable within one year | 40/41 | €5,155 | €6,008 | +€853 | +16.6% |
| Trade receivables | 40 | €4,045 | €4,050 | +€5 | +0.1% |
| Other amounts receivable | 41 | €1,110 | €1,958 | +€848 | +76.4% |
| Cash at bank and in hand | 54/58 | €3,616 | €7,647 | +€4,031 | +111.5% |
| Deferred charges and accrued income | 490/1 | €539 | €52 | -€486 | -90.3% |
| Total equity and liabilities | 10/49 | €9,309 | €13,708 | +€4,398 | +47.2% |
| Equity | 10/15 | €7,773 | €12,775 | +€5,001 | +64.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,773 | €10,775 | +€5,001 | +86.6% |
| Amounts payable | 17/49 | €1,536 | €933 | -€603 | -39.3% |
| Amounts payable within one year | 42/48 | €1,536 | €933 | -€603 | -39.3% |
| Trade debts | 44 | €1,410 | €933 | -€477 | -33.8% |
| Suppliers | 440/4 | €1,410 | €933 | -€477 | -33.8% |
| Taxes, remuneration and social security | 45 | €126 | - | -€126 | |
| Taxes | 450/3 | €126 | - | -€126 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,359 | - | -€1,359 | |
| Other operating charges | 640/8 | €433 | €436 | +€3 | +0.7% |
| Gross operating margin | 9900 | €6,498 | €8,205 | +€1,708 | +26.3% |
| Operating profit (loss) | 9901 | €4,706 | €7,770 | +€3,064 | +65.1% |
| Financial charges | 65/66B | €62 | €63 | +€2 | +2.4% |
| Recurring financial charges | 65 | €62 | €63 | +€2 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €4,644 | €7,707 | +€3,062 | +65.9% |
| Income taxes | 67/77 | €1,940 | €2,705 | +€765 | +39.4% |
| Profit (loss) for the period | 9904 | €2,704 | €5,001 | +€2,297 | +85.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,704 | €5,001 | +€2,297 | +85.0% |
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 11 October 2026 via checked.be.