MAXWARE: 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.
MAXWARE
Largest movements
- Cash +€55,110
up €55,110 (+5.3%), from €1.0m to €1.1m
mainly Net result for the year (+€42,309) and Depreciation (+€18,074)
- Tangible fixed assets -€17,075
down €17,075 (-43.9%), from €38,908 to €21,833
of which Furniture and vehicles: -€17,735
- Reserves +€42,309
up €42,309 (+4.0%), from €1.1m to €1.1m
of which Distributable reserves: +€42,309
- Gross operating margin -€7,941
down €7,941 (-9.3%), from €85,222 to €77,281
- Financial income +€3,482
up €3,482 (+151.1%), from €2,305 to €5,787
- Taxes -€2,986
down €2,986 (-12.6%), from €23,755 to €20,770
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 | €1,103,786 | €1,137,974 | +€34,187 | +3.1% |
| Fixed assets | 21/28 | €38,982 | €21,907 | -€17,075 | -43.8% |
| Tangible fixed assets | 22/27 | €38,908 | €21,833 | -€17,075 | -43.9% |
| Plant, machinery and equipment | 23 | €280 | €940 | +€660 | +235.4% |
| Furniture and vehicles | 24 | €38,628 | €20,893 | -€17,735 | -45.9% |
| Financial fixed assets | 28 | €74 | €74 | = | 0.0% |
| Current assets | 29/58 | €1,064,804 | €1,116,066 | +€51,262 | +4.8% |
| Amounts receivable within one year | 40/41 | €18,950 | €14,409 | -€4,541 | -24.0% |
| Trade receivables | 40 | €17,996 | €14,324 | -€3,672 | -20.4% |
| Other amounts receivable | 41 | €953 | €85 | -€868 | -91.1% |
| Current investments | 50/53 | €965 | €965 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,043,812 | €1,098,922 | +€55,110 | +5.3% |
| Deferred charges and accrued income | 490/1 | €1,077 | €1,770 | +€693 | +64.3% |
| Total equity and liabilities | 10/49 | €1,103,786 | €1,137,974 | +€34,187 | +3.1% |
| Equity | 10/15 | €1,077,753 | €1,120,061 | +€42,309 | +3.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,059,161 | €1,101,469 | +€42,309 | +4.0% |
| Non-distributable reserves | 130/1 | €82,682 | €82,682 | = | 0.0% |
| Reserves not available under the articles | 1311 | €82,682 | €82,682 | = | 0.0% |
| Distributable reserves | 133 | €976,479 | €1,018,788 | +€42,309 | +4.3% |
| Amounts payable | 17/49 | €26,034 | €17,912 | -€8,122 | -31.2% |
| Amounts payable within one year | 42/48 | €26,034 | €17,912 | -€8,122 | -31.2% |
| Trade debts | 44 | €5,781 | €4,187 | -€1,594 | -27.6% |
| Suppliers | 440/4 | €5,781 | €4,187 | -€1,594 | -27.6% |
| Taxes, remuneration and social security | 45 | €11,665 | €11,459 | -€206 | -1.8% |
| Taxes | 450/3 | €9,242 | €9,527 | +€284 | +3.1% |
| Remuneration and social security | 454/9 | €2,422 | €1,932 | -€490 | -20.2% |
| Other amounts payable | 47/48 | €8,588 | €2,266 | -€6,322 | -73.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,025 | €18,074 | +€49 | +0.3% |
| Other operating charges | 640/8 | €1,798 | €1,867 | +€69 | +3.8% |
| Gross operating margin | 9900 | €85,222 | €77,281 | -€7,941 | -9.3% |
| Operating profit (loss) | 9901 | €65,399 | €57,340 | -€8,059 | -12.3% |
| Financial income | 75/76B | €2,305 | €5,787 | +€3,482 | +151.1% |
| Recurring financial income | 75 | €2,305 | €5,787 | +€3,482 | +151.1% |
| Financial charges | 65/66B | €461 | €49 | -€412 | -89.5% |
| Recurring financial charges | 65 | €461 | €49 | -€412 | -89.5% |
| Profit (loss) for the period before taxes | 9903 | €67,243 | €63,078 | -€4,165 | -6.2% |
| Income taxes | 67/77 | €23,755 | €20,770 | -€2,986 | -12.6% |
| Profit (loss) for the period | 9904 | €43,488 | €42,309 | -€1,179 | -2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €43,488 | €42,309 | -€1,179 | -2.7% |
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.