MAXUS: 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.
MAXUS
Largest movements
- Cash -€38,330
down €38,330 (-65.1%), from €58,890 to €20,560
mainly Provisions (-€27,533) and Tax, wage and social debts (-€22,200)
- Receivables within one year +€21,913
up €21,913 (+77.8%), from €28,176 to €50,089
of which Other amounts receivable: +€17,181
- Tangible fixed assets -€10,672
down €10,672 (-2.1%), from €506,046 to €495,374
of which Land and buildings: -€12,118
- Deferred charges and accrued income +€9,432
up €9,432 (+67.6%), from €13,962 to €23,394
- Provisions -€27,533
down €27,533 (-11.1%), from €247,782 to €220,249
- Tax, wage and social debts -€22,200
down €22,200 (-70.7%), from €31,417 to €9,216
- Trade debts +€18,591
new in 2025: €18,591
- Reserves +€15,286
up €15,286 (+3.8%), from €397,987 to €413,273
of which Distributable reserves: +€17,725
- Gross operating margin -€98,174
down €98,174 (-89.1%), from €110,187 to €12,013
- Provisions -€32,639
down €32,639, from €5,919 to -€26,720
- Taxes -€20,712
down €20,712 (-63.0%), from €32,891 to €12,180
- Other operating charges +€3,243
up €3,243 (+190.2%), from €1,705 to €4,948
- Financial charges -€2,400
down €2,400 (-91.2%), from €2,632 to €232
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 | €882,993 | €865,337 | -€17,656 | -2.0% |
| Fixed assets | 21/28 | €509,646 | €498,974 | -€10,672 | -2.1% |
| Tangible fixed assets | 22/27 | €506,046 | €495,374 | -€10,672 | -2.1% |
| Land and buildings | 22 | €487,307 | €475,189 | -€12,118 | -2.5% |
| Plant, machinery and equipment | 23 | €18,739 | €12,695 | -€6,044 | -32.3% |
| Furniture and vehicles | 24 | - | €7,490 | +€7,490 | |
| Financial fixed assets | 28 | €3,600 | €3,600 | = | 0.0% |
| Current assets | 29/58 | €373,347 | €366,363 | -€6,984 | -1.9% |
| Amounts receivable after more than one year | 29 | €270,000 | €270,000 | = | 0.0% |
| Other amounts receivable | 291 | €270,000 | €270,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €2,320 | €2,320 | = | 0.0% |
| Stocks | 30/36 | €2,320 | €2,320 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,176 | €50,089 | +€21,913 | +77.8% |
| Trade receivables | 40 | €4,815 | €9,548 | +€4,732 | +98.3% |
| Other amounts receivable | 41 | €23,361 | €40,542 | +€17,181 | +73.5% |
| Cash at bank and in hand | 54/58 | €58,890 | €20,560 | -€38,330 | -65.1% |
| Deferred charges and accrued income | 490/1 | €13,962 | €23,394 | +€9,432 | +67.6% |
| Total equity and liabilities | 10/49 | €882,993 | €865,337 | -€17,656 | -2.0% |
| Equity | 10/15 | €601,965 | €617,251 | +€15,286 | +2.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €397,987 | €413,273 | +€15,286 | +3.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €78,653 | €76,214 | -€2,439 | -3.1% |
| Distributable reserves | 133 | €317,474 | €335,199 | +€17,725 | +5.6% |
| Profit (loss) carried forward | 14 | €191,578 | €191,578 | = | 0.0% |
| Provisions and deferred taxes | 16 | €247,782 | €220,249 | -€27,533 | -11.1% |
| Provisions for liabilities and charges | 160/5 | €247,782 | €220,249 | -€27,533 | -11.1% |
| Taxes | 161 | €26,218 | €25,405 | -€813 | -3.1% |
| Other liabilities and charges | 164/5 | €221,564 | €194,844 | -€26,720 | -12.1% |
| Amounts payable | 17/49 | €33,246 | €27,838 | -€5,409 | -16.3% |
| Amounts payable within one year | 42/48 | €33,246 | €27,838 | -€5,409 | -16.3% |
| Trade debts | 44 | - | €18,591 | +€18,591 | |
| Suppliers | 440/4 | - | €18,591 | +€18,591 | |
| Taxes, remuneration and social security | 45 | €31,417 | €9,216 | -€22,200 | -70.7% |
| Taxes | 450/3 | €31,417 | €9,216 | -€22,200 | -70.7% |
| Other amounts payable | 47/48 | €1,830 | €30 | -€1,800 | -98.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,255 | €18,556 | +€301 | +1.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €5,919 | -€26,720 | -€32,639 | |
| Other operating charges | 640/8 | €1,705 | €4,948 | +€3,243 | +190.2% |
| Gross operating margin | 9900 | €110,187 | €12,013 | -€98,174 | -89.1% |
| Operating profit (loss) | 9901 | €84,308 | €15,229 | -€69,079 | -81.9% |
| Financial income | 75/76B | €10,719 | €11,656 | +€937 | +8.7% |
| Recurring financial income | 75 | €10,719 | €11,656 | +€937 | +8.7% |
| Financial charges | 65/66B | €2,632 | €232 | -€2,400 | -91.2% |
| Recurring financial charges | 65 | €2,632 | €232 | -€2,400 | -91.2% |
| Profit (loss) for the period before taxes | 9903 | €92,395 | €26,653 | -€65,743 | -71.2% |
| Transfer from deferred taxes | 780 | €813 | €813 | = | 0.0% |
| Income taxes | 67/77 | €32,891 | €12,180 | -€20,712 | -63.0% |
| Profit (loss) for the period | 9904 | €60,317 | €15,286 | -€45,031 | -74.7% |
| Transfer from tax-exempt reserves | 789 | €2,439 | €2,439 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €62,756 | €17,725 | -€45,031 | -71.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.