MAXSYSTEM: 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.
MAXSYSTEM
Largest movements
- Cash +€5,308
up €5,308 (+137%), from €3,871 to €9,178
mainly Net result for the year (+€3,250) and Stocks and contracts (+€1,895)
- Stocks and contracts -€1,895
down €1,895 (-23.7%), from €8,013 to €6,118
- Receivables within one year -€183
down €183 (-21.2%), from €866 to €683
of which Trade receivables: -€183
- Profit (loss) carried forward +€3,250
up €3,250 (+44.8%), from -€7,251 to -€4,000
- Tax, wage and social debts +€857
up €857 (+536%), from €160 to €1,016
- Other debts -€660
down €660 (-70.1%), from €941 to €281
- Trade debts -€218
down €218 (-72.7%), from €300 to €82
- Gross operating margin +€598
up €598 (+19.3%), from €3,097 to €3,695
- Financial charges -€84
down €84 (-65.0%), from €129 to €45
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 | €12,750 | €15,979 | +€3,229 | +25.3% |
| Current assets | 29/58 | €12,750 | €15,979 | +€3,229 | +25.3% |
| Stocks and contracts in progress | 3 | €8,013 | €6,118 | -€1,895 | -23.7% |
| Stocks | 30/36 | €8,013 | €6,118 | -€1,895 | -23.7% |
| Amounts receivable within one year | 40/41 | €866 | €683 | -€183 | -21.2% |
| Trade receivables | 40 | €387 | €204 | -€183 | -47.3% |
| Other amounts receivable | 41 | €479 | €479 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,871 | €9,178 | +€5,308 | +137% |
| Total equity and liabilities | 10/49 | €12,750 | €15,979 | +€3,229 | +25.3% |
| Equity | 10/15 | €11,349 | €14,600 | +€3,250 | +28.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,251 | -€4,000 | +€3,250 | +44.8% |
| Amounts payable | 17/49 | €1,401 | €1,379 | -€21 | -1.5% |
| Amounts payable within one year | 42/48 | €1,401 | €1,379 | -€21 | -1.5% |
| Trade debts | 44 | €300 | €82 | -€218 | -72.7% |
| Suppliers | 440/4 | €300 | €82 | -€218 | -72.7% |
| Taxes, remuneration and social security | 45 | €160 | €1,016 | +€857 | +536% |
| Taxes | 450/3 | €160 | €1,016 | +€857 | +536% |
| Other amounts payable | 47/48 | €941 | €281 | -€660 | -70.1% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €3,097 | €3,695 | +€598 | +19.3% |
| Operating profit (loss) | 9901 | €2,710 | €3,295 | +€585 | +21.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €129 | €45 | -€84 | -65.0% |
| Recurring financial charges | 65 | €129 | €45 | -€84 | -65.0% |
| Profit (loss) for the period before taxes | 9903 | €2,581 | €3,250 | +€669 | +25.9% |
| Profit (loss) for the period | 9904 | €2,581 | €3,250 | +€669 | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,581 | €3,250 | +€669 | +25.9% |
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 13 October 2026 via checked.be.