MAXPLUS: 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.
MAXPLUS
Largest movements
- Receivables within one year -€6,472
down €6,472 (-11.6%), from €55,747 to €49,275
of which Other amounts receivable: -€10,172
- Profit (loss) carried forward -€12,572
down €12,572 (-63.8%), from €19,704 to €7,132
- Trade debts +€11,873
up €11,873 (+53.2%), from €22,301 to €34,174
- Tax, wage and social debts -€5,534
down €5,534 (-96.2%), from €5,755 to €220
- Accrued charges and deferred income -€918
no longer reported in 2025 (was €918)
- Gross operating margin -€33,839
down €33,839, from €29,834 to -€4,005
- Other operating charges -€10,781
down €10,781 (-95.0%), from €11,354 to €573
- Taxes -€826
down €826 (-78.9%), from €1,046 to €220
- Depreciation -€319
down €319 (-5.0%), from €6,358 to €6,038
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.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €72,627 | €65,717 | -€6,911 | -9.5% |
| Fixed assets | 21/28 | €13,820 | €13,186 | -€633 | -4.6% |
| Tangible fixed assets | 22/27 | €13,820 | €13,186 | -€633 | -4.6% |
| Land and buildings | 22 | €2,288 | €1,830 | -€458 | -20.0% |
| Plant, machinery and equipment | 23 | €2,396 | €1,159 | -€1,237 | -51.6% |
| Furniture and vehicles | 24 | €8,628 | €10,197 | +€1,570 | +18.2% |
| Other tangible fixed assets | 26 | €508 | - | -€508 | |
| Current assets | 29/58 | €58,807 | €52,530 | -€6,277 | -10.7% |
| Amounts receivable within one year | 40/41 | €55,747 | €49,275 | -€6,472 | -11.6% |
| Trade receivables | 40 | €27,540 | €31,240 | +€3,700 | +13.4% |
| Other amounts receivable | 41 | €28,207 | €18,035 | -€10,172 | -36.1% |
| Deferred charges and accrued income | 490/1 | €3,060 | €3,255 | +€195 | +6.4% |
| Total equity and liabilities | 10/49 | €72,627 | €65,717 | -€6,911 | -9.5% |
| Equity | 10/15 | €39,344 | €26,772 | -€12,572 | -32.0% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €5,379 | €5,379 | = | 0.0% |
| Distributable reserves | 133 | €5,379 | €5,379 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,704 | €7,132 | -€12,572 | -63.8% |
| Amounts payable | 17/49 | €33,284 | €38,945 | +€5,661 | +17.0% |
| Amounts payable within one year | 42/48 | €32,366 | €38,945 | +€6,579 | +20.3% |
| Financial debts | 43 | €4,310 | €4,550 | +€240 | +5.6% |
| Credit institutions | 430/8 | €4,310 | €4,550 | +€240 | +5.6% |
| Trade debts | 44 | €22,301 | €34,174 | +€11,873 | +53.2% |
| Suppliers | 440/4 | €22,301 | €34,174 | +€11,873 | +53.2% |
| Taxes, remuneration and social security | 45 | €5,755 | €220 | -€5,534 | -96.2% |
| Taxes | 450/3 | €5,755 | €220 | -€5,534 | -96.2% |
| Accrued charges and deferred income | 492/3 | €918 | - | -€918 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,358 | €6,038 | -€319 | -5.0% |
| Other operating charges | 640/8 | €11,354 | €573 | -€10,781 | -95.0% |
| Gross operating margin | 9900 | €29,834 | -€4,005 | -€33,839 | |
| Operating profit (loss) | 9901 | €12,122 | -€10,616 | -€22,738 | |
| Financial income | 75/76B | €10 | €2 | -€8 | -83.9% |
| Recurring financial income | 75 | €10 | €2 | -€8 | -83.9% |
| Financial charges | 65/66B | €1,793 | €1,737 | -€56 | -3.1% |
| Recurring financial charges | 65 | €1,793 | €1,737 | -€56 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €10,339 | -€12,352 | -€22,691 | |
| Income taxes | 67/77 | €1,046 | €220 | -€826 | -78.9% |
| Profit (loss) for the period | 9904 | €9,293 | -€12,572 | -€21,865 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,293 | -€12,572 | -€21,865 |
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 19 October 2026 via checked.be.