MAXSERAGRI: 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.
MAXSERAGRI
Largest movements
- Receivables within one year +€52,870
up €52,870 (+213%), from €24,768 to €77,638
of which Trade receivables: +€47,739
- Cash +€39,555
up €39,555 (+115%), from €34,294 to €73,849
mainly Depreciation (+€64,854) and Trade debts (+€40,569)
- Tangible fixed assets -€36,854
down €36,854 (-5.8%), from €638,487 to €601,634
of which Plant, machinery and equipment: -€47,920
- Stocks and contracts -€29,442
down €29,442 (-53.5%), from €54,989 to €25,546
- Trade debts +€40,569
up €40,569 (+516%), from €7,863 to €48,432
- Advances received +€29,418
new in 2025: €29,418
- Debts after one year -€24,683
down €24,683 (-6.3%), from €391,208 to €366,525
of which Financial debts: -€24,683
- Profit (loss) carried forward -€19,522
down €19,522 (-113%), from -€17,200 to -€36,722
- Depreciation -€54,628
down €54,628 (-45.7%), from €119,482 to €64,854
- Gross operating margin -€25,915
down €25,915 (-34.1%), from €76,056 to €50,141
- Financial charges +€2,885
up €2,885 (+299%), from €966 to €3,851
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
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 | €752,538 | €778,668 | +€26,129 | +3.5% |
| Fixed assets | 21/28 | €638,487 | €601,634 | -€36,854 | -5.8% |
| Tangible fixed assets | 22/27 | €638,487 | €601,634 | -€36,854 | -5.8% |
| Land and buildings | 22 | €429,699 | €413,349 | -€16,350 | -3.8% |
| Plant, machinery and equipment | 23 | €208,789 | €160,868 | -€47,920 | -23.0% |
| Furniture and vehicles | 24 | - | €27,417 | +€27,417 | |
| Current assets | 29/58 | €114,051 | €177,034 | +€62,983 | +55.2% |
| Stocks and contracts in progress | 3 | €54,989 | €25,546 | -€29,442 | -53.5% |
| Stocks | 30/36 | €54,989 | €25,546 | -€29,442 | -53.5% |
| Amounts receivable within one year | 40/41 | €24,768 | €77,638 | +€52,870 | +213% |
| Trade receivables | 40 | €24,768 | €72,507 | +€47,739 | +193% |
| Other amounts receivable | 41 | - | €5,131 | +€5,131 | |
| Cash at bank and in hand | 54/58 | €34,294 | €73,849 | +€39,555 | +115% |
| Total equity and liabilities | 10/49 | €752,538 | €778,668 | +€26,129 | +3.5% |
| Equity | 10/15 | €1,400 | -€18,122 | -€19,522 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,200 | -€36,722 | -€19,522 | -113% |
| Amounts payable | 17/49 | €751,139 | €796,789 | +€45,651 | +6.1% |
| Amounts payable after more than one year | 17 | €391,208 | €366,525 | -€24,683 | -6.3% |
| Financial debts | 170/4 | €109,246 | €84,563 | -€24,683 | -22.6% |
| Other amounts payable | 178/9 | €281,962 | €281,962 | = | 0.0% |
| Amounts payable within one year | 42/48 | €359,931 | €430,264 | +€70,333 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | €24,683 | €24,683 | = | 0.0% |
| Trade debts | 44 | €7,863 | €48,432 | +€40,569 | +516% |
| Suppliers | 440/4 | €7,863 | €48,432 | +€40,569 | +516% |
| Advances received on contracts in progress | 46 | - | €29,418 | +€29,418 | |
| Taxes, remuneration and social security | 45 | €3,173 | - | -€3,173 | |
| Taxes | 450/3 | €3,173 | - | -€3,173 | |
| Other amounts payable | 47/48 | €324,212 | €327,731 | +€3,519 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,482 | €64,854 | -€54,628 | -45.7% |
| Other operating charges | 640/8 | €1,510 | €1,469 | -€41 | -2.7% |
| Gross operating margin | 9900 | €76,056 | €50,141 | -€25,915 | -34.1% |
| Operating profit (loss) | 9901 | -€44,936 | -€16,182 | +€28,754 | +64.0% |
| Financial income | 75/76B | €696 | €510 | -€185 | -26.6% |
| Recurring financial income | 75 | €696 | €510 | -€185 | -26.6% |
| Financial charges | 65/66B | €966 | €3,851 | +€2,885 | +299% |
| Recurring financial charges | 65 | €966 | €3,851 | +€2,885 | +299% |
| Profit (loss) for the period before taxes | 9903 | -€45,206 | -€19,522 | +€25,684 | +56.8% |
| Income taxes | 67/77 | €206 | - | -€206 | |
| Profit (loss) for the period | 9904 | -€45,412 | -€19,522 | +€25,891 | +57.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,412 | -€19,522 | +€25,891 | +57.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.