MAXS: 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.
MAXS
Largest movements
- Cash +€25,297
up €25,297 (+124.3%), from €20,348 to €45,645
mainly Net result for the year (+€64,957) and Depreciation (+€22,367)
- Receivables within one year -€6,658
down €6,658 (-97.4%), from €6,836 to €179
of which Other amounts receivable: -€6,836
- Profit (loss) carried forward +€34,957
up €34,957, from €0 to €34,957
- Other debts -€12,812
down €12,812 (-5.0%), from €254,532 to €241,720
- Debts after one year -€9,260
down €9,260 (-4.2%), from €221,429 to €212,170
- Tax, wage and social debts +€6,113
up €6,113 (+111.4%), from €5,487 to €11,600
of which Taxes: +€7,006
- Gross operating margin +€62,567
up €62,567 (+142.7%), from €43,846 to €106,413
- Other operating charges -€53,221
down €53,221 (-99.0%), from €53,781 to €560
- Depreciation +€15,760
up €15,760 (+238.5%), from €6,607 to €22,367
- Taxes +€9,132
up €9,132 (+5582.7%), from €164 to €9,296
- Financial charges +€5,332
up €5,332 (+166.0%), from €3,212 to €8,545
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 | €543,503 | €560,745 | +€17,241 | +3.2% |
| Fixed assets | 21/28 | €514,929 | €513,411 | -€1,518 | -0.3% |
| Tangible fixed assets | 22/27 | €481,929 | €480,411 | -€1,518 | -0.3% |
| Land and buildings | 22 | €426,630 | €428,273 | +€1,642 | +0.4% |
| Plant, machinery and equipment | 23 | €459 | €0 | -€459 | -100.0% |
| Furniture and vehicles | 24 | €17,500 | €18,965 | +€1,465 | +8.4% |
| Other tangible fixed assets | 26 | €37,340 | €33,174 | -€4,166 | -11.2% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €33,000 | €33,000 | = | 0.0% |
| Current assets | 29/58 | €28,574 | €47,333 | +€18,759 | +65.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €6,836 | €179 | -€6,658 | -97.4% |
| Trade receivables | 40 | - | €179 | +€179 | |
| Other amounts receivable | 41 | €6,836 | €0 | -€6,836 | -100.0% |
| Cash at bank and in hand | 54/58 | €20,348 | €45,645 | +€25,297 | +124.3% |
| Deferred charges and accrued income | 490/1 | €1,390 | €1,510 | +€120 | +8.6% |
| Total equity and liabilities | 10/49 | €543,503 | €560,745 | +€17,241 | +3.2% |
| Equity | 10/15 | €49,750 | €84,707 | +€34,957 | +70.3% |
| Contributions | 10/11 | €37,500 | €37,500 | = | 0.0% |
| Reserves | 13 | €12,250 | €12,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €250 | €250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €250 | €250 | = | 0.0% |
| Distributable reserves | 133 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €34,957 | +€34,957 | |
| Amounts payable | 17/49 | €493,753 | €476,038 | -€17,716 | -3.6% |
| Amounts payable after more than one year | 17 | €221,429 | €212,170 | -€9,260 | -4.2% |
| Financial debts | 170/4 | €221,429 | €212,170 | -€9,260 | -4.2% |
| Amounts payable within one year | 42/48 | €272,099 | €262,681 | -€9,418 | -3.5% |
| Current portion of amounts payable after more than one year | 42 | €10,656 | €9,260 | -€1,396 | -13.1% |
| Trade debts | 44 | €1,424 | €101 | -€1,323 | -92.9% |
| Suppliers | 440/4 | €1,424 | €101 | -€1,323 | -92.9% |
| Taxes, remuneration and social security | 45 | €5,487 | €11,600 | +€6,113 | +111.4% |
| Taxes | 450/3 | €2,557 | €9,563 | +€7,006 | +274.0% |
| Remuneration and social security | 454/9 | €2,930 | €2,037 | -€893 | -30.5% |
| Other amounts payable | 47/48 | €254,532 | €241,720 | -€12,812 | -5.0% |
| Accrued charges and deferred income | 492/3 | €225 | €1,187 | +€962 | +428.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,607 | €22,367 | +€15,760 | +238.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €850 | +€850 | |
| Other operating charges | 640/8 | €53,781 | €560 | -€53,221 | -99.0% |
| Non-recurring operating charges | 66A | €3,954 | €0 | -€3,954 | -100.0% |
| Gross operating margin | 9900 | €43,846 | €106,413 | +€62,567 | +142.7% |
| Operating profit (loss) | 9901 | -€20,496 | €82,636 | +€103,132 | |
| Financial income | 75/76B | €190 | €162 | -€28 | -14.9% |
| Recurring financial income | 75 | €190 | €162 | -€28 | -14.9% |
| Financial charges | 65/66B | €3,212 | €8,545 | +€5,332 | +166.0% |
| Recurring financial charges | 65 | €3,212 | €8,545 | +€5,332 | +166.0% |
| Profit (loss) for the period before taxes | 9903 | -€23,519 | €74,253 | +€97,772 | |
| Income taxes | 67/77 | €164 | €9,296 | +€9,132 | +5582.7% |
| Profit (loss) for the period | 9904 | -€23,682 | €64,957 | +€88,640 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,682 | €64,957 | +€88,640 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.