Maxwell Management: 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.
Maxwell Management
Largest movements
- Cash -€20,039
down €20,039 (-27.0%), from €74,343 to €54,304
mainly Receivables within one year (-€11,191) and Contributions, distributions and other (-€8,806)
- Receivables within one year +€11,191
up €11,191 (+462.4%), from €2,420 to €13,611
of which Other amounts receivable: +€13,611
- Tax, wage and social debts -€3,957
down €3,957 (-21.7%), from €18,251 to €14,294
of which Taxes: -€6,727
- Other debts -€3,690
down €3,690 (-30.9%), from €11,923 to €8,234
- Trade debts -€1,623
down €1,623 (-71.4%), from €2,272 to €649
- Gross operating margin -€10,979
down €10,979 (-38.4%), from €28,594 to €17,615
- Taxes -€1,991
down €1,991 (-33.8%), from €5,894 to €3,903
- Other operating charges +€1,610
up €1,610 (+706.9%), from €228 to €1,837
- Financial charges +€815
up €815 (+55.9%), from €1,456 to €2,271
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 | €78,700 | €69,330 | -€9,370 | -11.9% |
| Fixed assets | 21/28 | €1,341 | €1,244 | -€97 | -7.2% |
| Tangible fixed assets | 22/27 | €1,341 | €1,244 | -€97 | -7.2% |
| Furniture and vehicles | 24 | €1,341 | €493 | -€847 | -63.2% |
| Other tangible fixed assets | 26 | - | €751 | +€751 | |
| Current assets | 29/58 | €77,359 | €68,086 | -€9,273 | -12.0% |
| Amounts receivable within one year | 40/41 | €2,420 | €13,611 | +€11,191 | +462.4% |
| Trade receivables | 40 | €2,420 | - | -€2,420 | |
| Other amounts receivable | 41 | - | €13,611 | +€13,611 | |
| Cash at bank and in hand | 54/58 | €74,343 | €54,304 | -€20,039 | -27.0% |
| Deferred charges and accrued income | 490/1 | €596 | €172 | -€425 | -71.2% |
| Total equity and liabilities | 10/49 | €78,700 | €69,330 | -€9,370 | -11.9% |
| Equity | 10/15 | €46,253 | €46,154 | -€100 | -0.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €43,253 | €43,154 | -€100 | -0.2% |
| Distributable reserves | 133 | €43,253 | €43,154 | -€100 | -0.2% |
| Amounts payable | 17/49 | €32,447 | €23,177 | -€9,270 | -28.6% |
| Amounts payable within one year | 42/48 | €32,447 | €23,177 | -€9,270 | -28.6% |
| Trade debts | 44 | €2,272 | €649 | -€1,623 | -71.4% |
| Suppliers | 440/4 | €2,272 | €649 | -€1,623 | -71.4% |
| Taxes, remuneration and social security | 45 | €18,251 | €14,294 | -€3,957 | -21.7% |
| Taxes | 450/3 | €18,251 | €11,524 | -€6,727 | -36.9% |
| Remuneration and social security | 454/9 | - | €2,770 | +€2,770 | |
| Other amounts payable | 47/48 | €11,923 | €8,234 | -€3,690 | -30.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,012 | €924 | -€88 | -8.7% |
| Other operating charges | 640/8 | €228 | €1,837 | +€1,610 | +706.9% |
| Gross operating margin | 9900 | €28,594 | €17,615 | -€10,979 | -38.4% |
| Operating profit (loss) | 9901 | €27,354 | €14,853 | -€12,501 | -45.7% |
| Financial income | 75/76B | €0 | €26 | +€26 | +13135.0% |
| Recurring financial income | 75 | €0 | €26 | +€26 | +13135.0% |
| Financial charges | 65/66B | €1,456 | €2,271 | +€815 | +55.9% |
| Recurring financial charges | 65 | €1,456 | €2,271 | +€815 | +55.9% |
| Profit (loss) for the period before taxes | 9903 | €25,898 | €12,609 | -€13,289 | -51.3% |
| Income taxes | 67/77 | €5,894 | €3,903 | -€1,991 | -33.8% |
| Profit (loss) for the period | 9904 | €20,004 | €8,706 | -€11,297 | -56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,004 | €8,706 | -€11,297 | -56.5% |
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 5 October 2026 via checked.be.