MAXTORIA: 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.
MAXTORIA
Largest movements
- Receivables within one year -€14,332
down €14,332 (-17.9%), from €80,277 to €65,946
of which Trade receivables: -€11,957
- Tangible fixed assets -€12,766
down €12,766 (-4.4%), from €289,885 to €277,119
of which Land and buildings: -€12,465
- Debts after one year -€27,864
down €27,864 (-14.7%), from €189,149 to €161,285
- Profit (loss) carried forward +€7,982
up €7,982 (+5.0%), from €159,513 to €167,494
- Other debts -€5,500
no longer reported in 2025 (was €5,500)
- Tax, wage and social debts -€4,440
down €4,440 (-26.1%), from €17,010 to €12,570
- Gross operating margin -€12,355
down €12,355 (-21.9%), from €56,531 to €44,176
- Other operating charges +€9,757
up €9,757 (+1617.6%), from €603 to €10,360
- Taxes -€5,636
down €5,636 (-63.0%), from €8,944 to €3,307
- Financial charges -€699
down €699 (-6.7%), from €10,460 to €9,761
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 | €429,636 | €399,699 | -€29,937 | -7.0% |
| Fixed assets | 21/28 | €346,193 | €332,386 | -€13,807 | -4.0% |
| Tangible fixed assets | 22/27 | €289,885 | €277,119 | -€12,766 | -4.4% |
| Land and buildings | 22 | €288,455 | €275,990 | -€12,465 | -4.3% |
| Plant, machinery and equipment | 23 | €1,430 | €1,129 | -€301 | -21.0% |
| Financial fixed assets | 28 | €56,308 | €55,267 | -€1,042 | -1.8% |
| Current assets | 29/58 | €83,442 | €67,313 | -€16,129 | -19.3% |
| Amounts receivable within one year | 40/41 | €80,277 | €65,946 | -€14,332 | -17.9% |
| Trade receivables | 40 | €13,005 | €1,048 | -€11,957 | -91.9% |
| Other amounts receivable | 41 | €67,272 | €64,897 | -€2,375 | -3.5% |
| Cash at bank and in hand | 54/58 | - | €1,367 | +€1,367 | |
| Deferred charges and accrued income | 490/1 | €3,165 | - | -€3,165 | |
| Total equity and liabilities | 10/49 | €429,636 | €399,699 | -€29,937 | -7.0% |
| Equity | 10/15 | €179,973 | €187,954 | +€7,982 | +4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €159,513 | €167,494 | +€7,982 | +5.0% |
| Amounts payable | 17/49 | €249,663 | €211,745 | -€37,919 | -15.2% |
| Amounts payable after more than one year | 17 | €189,149 | €161,285 | -€27,864 | -14.7% |
| Financial debts | 170/4 | €189,149 | €161,285 | -€27,864 | -14.7% |
| Amounts payable within one year | 42/48 | €60,514 | €50,460 | -€10,055 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €26,685 | €27,864 | +€1,178 | +4.4% |
| Financial debts | 43 | €2,414 | - | -€2,414 | |
| Credit institutions | 430/8 | €2,414 | - | -€2,414 | |
| Trade debts | 44 | €8,905 | €10,026 | +€1,120 | +12.6% |
| Suppliers | 440/4 | €8,905 | €10,026 | +€1,120 | +12.6% |
| Taxes, remuneration and social security | 45 | €17,010 | €12,570 | -€4,440 | -26.1% |
| Taxes | 450/3 | €17,010 | €12,570 | -€4,440 | -26.1% |
| Other amounts payable | 47/48 | €5,500 | - | -€5,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,766 | €12,766 | = | 0.0% |
| Other operating charges | 640/8 | €603 | €10,360 | +€9,757 | +1617.6% |
| Gross operating margin | 9900 | €56,531 | €44,176 | -€12,355 | -21.9% |
| Operating profit (loss) | 9901 | €43,162 | €21,050 | -€22,112 | -51.2% |
| Financial charges | 65/66B | €10,460 | €9,761 | -€699 | -6.7% |
| Recurring financial charges | 65 | €10,460 | €9,761 | -€699 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €32,702 | €11,289 | -€21,413 | -65.5% |
| Income taxes | 67/77 | €8,944 | €3,307 | -€5,636 | -63.0% |
| Profit (loss) for the period | 9904 | €23,758 | €7,982 | -€15,776 | -66.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,758 | €7,982 | -€15,776 | -66.4% |
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 6 October 2026 via checked.be.