MAXQ: 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.
MAXQ
Largest movements
- Current investments +€219,006
new in 2025: €219,006
- Cash -€69,970
down €69,970 (-66.1%), from €105,827 to €35,857
mainly Current investments (-€219,006) and Receivables within one year (-€3,694)
- Receivables within one year +€3,694
up €3,694 (+18.5%), from €19,965 to €23,659
of which Trade receivables: +€2,662
- Reserves +€154,644
up €154,644 (+151.7%), from €101,910 to €256,554
- Tax, wage and social debts -€3,124
down €3,124 (-20.9%), from €14,935 to €11,811
- Gross operating margin +€67,358
up €67,358 (+50.3%), from €133,815 to €201,173
- Taxes +€16,960
up €16,960 (+61.1%), from €27,760 to €44,721
- Financial income +€2,534
up €2,534 (+253436.0%), from €1 to €2,535
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 | €127,037 | €278,663 | +€151,626 | +119.4% |
| Current assets | 29/58 | €127,037 | €278,663 | +€151,626 | +119.4% |
| Amounts receivable within one year | 40/41 | €19,965 | €23,659 | +€3,694 | +18.5% |
| Trade receivables | 40 | €19,965 | €22,627 | +€2,662 | +13.3% |
| Other amounts receivable | 41 | - | €1,032 | +€1,032 | |
| Current investments | 50/53 | - | €219,006 | +€219,006 | |
| Cash at bank and in hand | 54/58 | €105,827 | €35,857 | -€69,970 | -66.1% |
| Deferred charges and accrued income | 490/1 | €1,245 | €141 | -€1,104 | -88.7% |
| Total equity and liabilities | 10/49 | €127,037 | €278,663 | +€151,626 | +119.4% |
| Equity | 10/15 | €108,410 | €263,054 | +€154,644 | +142.6% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €101,910 | €256,554 | +€154,644 | +151.7% |
| Distributable reserves | 133 | €101,910 | €256,554 | +€154,644 | +151.7% |
| Amounts payable | 17/49 | €18,627 | €15,608 | -€3,019 | -16.2% |
| Amounts payable within one year | 42/48 | €18,627 | €15,608 | -€3,019 | -16.2% |
| Trade debts | 44 | €3,340 | €2,025 | -€1,315 | -39.4% |
| Suppliers | 440/4 | €3,340 | €2,025 | -€1,315 | -39.4% |
| Taxes, remuneration and social security | 45 | €14,935 | €11,811 | -€3,124 | -20.9% |
| Taxes | 450/3 | €14,935 | €11,811 | -€3,124 | -20.9% |
| Other amounts payable | 47/48 | €352 | €1,772 | +€1,420 | +403.4% |
| Other operating charges | 640/8 | €150 | €150 | = | 0.0% |
| Gross operating margin | 9900 | €133,815 | €201,173 | +€67,358 | +50.3% |
| Operating profit (loss) | 9901 | €133,665 | €201,023 | +€67,358 | +50.4% |
| Financial income | 75/76B | €1 | €2,535 | +€2,534 | +253436.0% |
| Recurring financial income | 75 | €1 | €2,535 | +€2,534 | +253436.0% |
| Financial charges | 65/66B | €3,996 | €4,194 | +€198 | +4.9% |
| Recurring financial charges | 65 | €3,996 | €4,194 | +€198 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | €129,670 | €199,365 | +€69,695 | +53.7% |
| Income taxes | 67/77 | €27,760 | €44,721 | +€16,960 | +61.1% |
| Profit (loss) for the period | 9904 | €101,910 | €154,644 | +€52,735 | +51.7% |
| Profit (loss) for the period to be appropriated | 9905 | €101,910 | €154,644 | +€52,735 | +51.7% |
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.