MAXTI: 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.
MAXTI
Largest movements
- Cash +€53,947
up €53,947 (+18.0%), from €299,885 to €353,832
mainly Net result for the year (+€125,570) and Other debts (+€30,430)
- Tangible fixed assets -€19,655
down €19,655 (-25.5%), from €76,983 to €57,328
of which Furniture and vehicles: -€19,444
- Other debts +€30,430
up €30,430 (+37.8%), from €80,485 to €110,915
- Reserves +€14,655
up €14,655 (+1.5%), from €1.0m to €1.0m
of which Distributable reserves: +€14,655
- Gross operating margin -€48,164
down €48,164 (-21.0%), from €229,343 to €181,179
- Financial income +€11,804
up €11,804 (+177.3%), from €6,658 to €18,461
- Taxes -€10,827
down €10,827 (-16.8%), from €64,519 to €53,692
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 | €1,110,903 | €1,151,653 | +€40,750 | +3.7% |
| Fixed assets | 21/28 | €76,983 | €57,328 | -€19,655 | -25.5% |
| Tangible fixed assets | 22/27 | €76,983 | €57,328 | -€19,655 | -25.5% |
| Plant, machinery and equipment | 23 | €299 | €88 | -€211 | -70.6% |
| Furniture and vehicles | 24 | €76,684 | €57,240 | -€19,444 | -25.4% |
| Current assets | 29/58 | €1,033,920 | €1,094,325 | +€60,405 | +5.8% |
| Amounts receivable within one year | 40/41 | €81,321 | €87,618 | +€6,297 | +7.7% |
| Trade receivables | 40 | €8,470 | €0 | -€8,470 | -100.0% |
| Other amounts receivable | 41 | €72,851 | €87,618 | +€14,767 | +20.3% |
| Current investments | 50/53 | €650,000 | €650,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €299,885 | €353,832 | +€53,947 | +18.0% |
| Deferred charges and accrued income | 490/1 | €2,715 | €2,875 | +€160 | +5.9% |
| Total equity and liabilities | 10/49 | €1,110,903 | €1,151,653 | +€40,750 | +3.7% |
| Equity | 10/15 | €1,009,088 | €1,023,742 | +€14,655 | +1.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,002,888 | €1,017,542 | +€14,655 | +1.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,002,888 | €1,017,542 | +€14,655 | +1.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €101,815 | €127,911 | +€26,095 | +25.6% |
| Amounts payable within one year | 42/48 | €101,815 | €127,911 | +€26,095 | +25.6% |
| Trade debts | 44 | - | €260 | +€260 | |
| Suppliers | 440/4 | - | €260 | +€260 | |
| Taxes, remuneration and social security | 45 | €21,331 | €16,736 | -€4,594 | -21.5% |
| Taxes | 450/3 | €21,331 | €16,736 | -€4,594 | -21.5% |
| Other amounts payable | 47/48 | €80,485 | €110,915 | +€30,430 | +37.8% |
| Non-recurring operating income | 76A | €15,000 | €0 | -€15,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,543 | €19,655 | +€112 | +0.6% |
| Other operating charges | 640/8 | €622 | €656 | +€34 | +5.5% |
| Gross operating margin | 9900 | €229,343 | €181,179 | -€48,164 | -21.0% |
| Operating profit (loss) | 9901 | €209,178 | €160,868 | -€48,310 | -23.1% |
| Financial income | 75/76B | €6,658 | €18,461 | +€11,804 | +177.3% |
| Recurring financial income | 75 | €6,658 | €18,461 | +€11,804 | +177.3% |
| Financial charges | 65/66B | €137 | €67 | -€70 | -50.9% |
| Recurring financial charges | 65 | €137 | €67 | -€70 | -50.9% |
| Profit (loss) for the period before taxes | 9903 | €215,699 | €179,262 | -€36,437 | -16.9% |
| Income taxes | 67/77 | €64,519 | €53,692 | -€10,827 | -16.8% |
| Profit (loss) for the period | 9904 | €151,180 | €125,570 | -€25,610 | -16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €151,180 | €125,570 | -€25,610 | -16.9% |
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 11 October 2026 via checked.be.