MAXTRANS: 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.
MAXTRANS
Largest movements
- Receivables within one year +€530,747
up €530,747 (+34.5%), from €1.5m to €2.1m
of which Other amounts receivable: +€565,113
- Tangible fixed assets -€157,944
down €157,944 (-42.7%), from €369,823 to €211,879
of which Leasing and similar rights: -€90,620
- Cash -€66,189
down €66,189 (-51.5%), from €128,486 to €62,297
mainly Receivables within one year (-€530,747) and Debts after one year (-€77,460)
- Profit (loss) carried forward +€280,234
up €280,234 (+23.4%), from €1.2m to €1.5m
- Reserves +€126,300
up €126,300 (+48.1%), from €262,600 to €388,900
of which Tax-exempt reserves: +€126,300
- Debts after one year -€77,460
down €77,460 (-74.0%), from €104,730 to €27,270
- Tax, wage and social debts -€60,934
down €60,934 (-42.3%), from €144,075 to €83,141
of which Taxes: -€53,874
- Trade debts +€52,835
up €52,835 (+44.4%), from €118,932 to €171,767
- Turnover +€517,758
up €517,758 (+33.3%), from €1.6m to €2.1m
- Goods and materials +€353,870
up €353,870 (+115.8%), from €305,663 to €659,533
- Services and other goods +€47,623
up €47,623 (+11.6%), from €410,875 to €458,498
- Taxes +€34,433
up €34,433 (+34.2%), from €100,570 to €135,003
- Other operating income -€30,838
down €30,838 (-69.9%), from €44,086 to €13,248
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 | €2,053,025 | €2,354,436 | +€301,411 | +14.7% |
| Fixed assets | 21/28 | €369,823 | €212,379 | -€157,444 | -42.6% |
| Tangible fixed assets | 22/27 | €369,823 | €211,879 | -€157,944 | -42.7% |
| Plant, machinery and equipment | 23 | €62,481 | €38,684 | -€23,797 | -38.1% |
| Furniture and vehicles | 24 | €107,378 | €63,851 | -€43,527 | -40.5% |
| Leasing and similar rights | 25 | €199,964 | €109,344 | -€90,620 | -45.3% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Other financial fixed assets | 284/8 | - | €500 | +€500 | |
| Amounts receivable and cash guarantees | 285/8 | - | €500 | +€500 | |
| Current assets | 29/58 | €1,683,202 | €2,142,057 | +€458,855 | +27.3% |
| Amounts receivable within one year | 40/41 | €1,536,656 | €2,067,403 | +€530,747 | +34.5% |
| Trade receivables | 40 | €170,760 | €136,394 | -€34,366 | -20.1% |
| Other amounts receivable | 41 | €1,365,896 | €1,931,009 | +€565,113 | +41.4% |
| Cash at bank and in hand | 54/58 | €128,486 | €62,297 | -€66,189 | -51.5% |
| Deferred charges and accrued income | 490/1 | €18,060 | €12,357 | -€5,703 | -31.6% |
| Total equity and liabilities | 10/49 | €2,053,025 | €2,354,436 | +€301,411 | +14.7% |
| Equity | 10/15 | €1,558,264 | €1,964,798 | +€406,534 | +26.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €262,600 | €388,900 | +€126,300 | +48.1% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €252,600 | €378,900 | +€126,300 | +50.0% |
| Profit (loss) carried forward | 14 | €1,195,664 | €1,475,898 | +€280,234 | +23.4% |
| Amounts payable | 17/49 | €494,761 | €389,638 | -€105,123 | -21.2% |
| Amounts payable after more than one year | 17 | €104,730 | €27,270 | -€77,460 | -74.0% |
| Financial debts | 170/4 | €104,730 | €27,270 | -€77,460 | -74.0% |
| Leasing and similar obligations | 172 | €104,730 | €27,270 | -€77,460 | -74.0% |
| Amounts payable within one year | 42/48 | €390,031 | €362,368 | -€27,663 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €92,024 | €77,460 | -€14,564 | -15.8% |
| Trade debts | 44 | €118,932 | €171,767 | +€52,835 | +44.4% |
| Suppliers | 440/4 | €118,932 | €171,767 | +€52,835 | +44.4% |
| Taxes, remuneration and social security | 45 | €144,075 | €83,141 | -€60,934 | -42.3% |
| Taxes | 450/3 | €98,152 | €44,278 | -€53,874 | -54.9% |
| Remuneration and social security | 454/9 | €45,923 | €38,863 | -€7,060 | -15.4% |
| Other amounts payable | 47/48 | €35,000 | €30,000 | -€5,000 | -14.3% |
| Operating income | 70/76A | €1,599,613 | €2,133,033 | +€533,420 | +33.3% |
| Turnover | 70 | €1,555,527 | €2,073,285 | +€517,758 | +33.3% |
| Other operating income | 74 | €44,086 | €13,248 | -€30,838 | -69.9% |
| Non-recurring operating income | 76A | - | €46,500 | +€46,500 | |
| Operating charges | 60/66A | €1,199,974 | €1,621,140 | +€421,166 | +35.1% |
| Goods for resale, raw materials and consumables | 60 | €305,663 | €659,533 | +€353,870 | +115.8% |
| Purchases | 600/8 | €305,663 | €659,533 | +€353,870 | +115.8% |
| Services and other goods | 61 | €410,875 | €458,498 | +€47,623 | +11.6% |
| Remuneration, social security and pensions | 62 | €291,794 | €301,400 | +€9,606 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €157,610 | €157,944 | +€334 | +0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,410 | -€3,410 | -€6,820 | |
| Other operating charges | 640/8 | €30,622 | €47,175 | +€16,553 | +54.1% |
| Operating profit (loss) | 9901 | €399,639 | €511,893 | +€112,254 | +28.1% |
| Financial income | 75/76B | €43,992 | €43,675 | -€317 | -0.7% |
| Recurring financial income | 75 | €43,992 | €43,675 | -€317 | -0.7% |
| Income from current assets | 751 | €43,992 | €43,603 | -€389 | -0.9% |
| Other financial income | 752/9 | - | €72 | +€72 | |
| Financial charges | 65/66B | €12,540 | €14,031 | +€1,491 | +11.9% |
| Recurring financial charges | 65 | €12,540 | €14,031 | +€1,491 | +11.9% |
| Debt charges | 650 | €11,655 | €13,122 | +€1,467 | +12.6% |
| Other financial charges | 652/9 | €885 | €909 | +€24 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €431,091 | €541,537 | +€110,446 | +25.6% |
| Income taxes | 67/77 | €100,570 | €135,003 | +€34,433 | +34.2% |
| Taxes | 670/3 | €100,570 | €135,003 | +€34,433 | +34.2% |
| Profit (loss) for the period | 9904 | €330,521 | €406,534 | +€76,013 | +23.0% |
| Transfer to tax-exempt reserves | 689 | €147,350 | €126,300 | -€21,050 | -14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €183,171 | €280,234 | +€97,063 | +53.0% |
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 9 October 2026 via checked.be.