MAXSMART: 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.
MAXSMART
Largest movements
- Cash -€5,443
down €5,443 (-94.5%), from €5,761 to €318
mainly Other debts (-€14,385) and Receivables within one year (-€914)
- Receivables within one year +€914
up €914 (+2.0%), from €45,642 to €46,557
of which Trade receivables: +€1,133
- Other debts -€14,385
down €14,385 (-84.0%), from €17,116 to €2,731
- Tax, wage and social debts +€8,912
up €8,912 (+26.5%), from €33,680 to €42,593
of which Remuneration and social security: +€11,212
- Accrued charges and deferred income +€950
new in 2025: €950
- Financial charges -€8,929
down €8,929 (-83.6%), from €10,677 to €1,748
- Gross operating margin -€7,059
down €7,059 (-66.5%), from €10,611 to €3,551
- Other operating charges +€1,788
up €1,788 (+8276.9%), from €22 to €1,809
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 | €53,303 | €48,775 | -€4,529 | -8.5% |
| Fixed assets | 21/28 | €1,900 | €1,900 | = | 0.0% |
| Financial fixed assets | 28 | €1,900 | €1,900 | = | 0.0% |
| Current assets | 29/58 | €51,403 | €46,875 | -€4,529 | -8.8% |
| Amounts receivable within one year | 40/41 | €45,642 | €46,557 | +€914 | +2.0% |
| Trade receivables | 40 | €44,742 | €45,875 | +€1,133 | +2.5% |
| Other amounts receivable | 41 | €900 | €682 | -€219 | -24.3% |
| Cash at bank and in hand | 54/58 | €5,761 | €318 | -€5,443 | -94.5% |
| Total equity and liabilities | 10/49 | €53,303 | €48,775 | -€4,529 | -8.5% |
| Equity | 10/15 | €2,507 | €2,501 | -€6 | -0.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7 | €1 | -€6 | -84.9% |
| Amounts payable | 17/49 | €50,797 | €46,274 | -€4,523 | -8.9% |
| Amounts payable within one year | 42/48 | €50,797 | €45,324 | -€5,473 | -10.8% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €33,680 | €42,593 | +€8,912 | +26.5% |
| Taxes | 450/3 | €16,750 | €14,450 | -€2,300 | -13.7% |
| Remuneration and social security | 454/9 | €16,930 | €28,143 | +€11,212 | +66.2% |
| Other amounts payable | 47/48 | €17,116 | €2,731 | -€14,385 | -84.0% |
| Accrued charges and deferred income | 492/3 | - | €950 | +€950 | |
| Other operating charges | 640/8 | €22 | €1,809 | +€1,788 | +8276.9% |
| Gross operating margin | 9900 | €10,611 | €3,551 | -€7,059 | -66.5% |
| Operating profit (loss) | 9901 | €10,589 | €1,742 | -€8,847 | -83.6% |
| Financial income | 75/76B | €95 | - | -€95 | |
| Recurring financial income | 75 | €95 | - | -€95 | |
| Financial charges | 65/66B | €10,677 | €1,748 | -€8,929 | -83.6% |
| Recurring financial charges | 65 | €10,677 | €1,748 | -€8,929 | -83.6% |
| Profit (loss) for the period before taxes | 9903 | €7 | -€6 | -€13 | |
| Profit (loss) for the period | 9904 | €7 | -€6 | -€13 | |
| Profit (loss) for the period to be appropriated | 9905 | €7 | -€6 | -€13 |
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.