MaxWood Construct: 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.
MaxWood Construct
Largest movements
- Stocks and contracts +€93,997
up €93,997 (+15.2%), from €617,425 to €711,422
- Cash -€36,043
down €36,043 (-19.9%), from €181,330 to €145,287
mainly Stocks and contracts (-€93,997) and Receivables within one year (-€32,935)
- Receivables within one year +€32,935
up €32,935 (+132%), from €24,953 to €57,888
of which Trade receivables: +€39,888
- Tangible fixed assets -€29,219
down €29,219 (-24.4%), from €119,944 to €90,726
of which Furniture and vehicles: -€14,817
- Reserves +€47,150
up €47,150 (+23.2%), from €203,000 to €250,150
- Other debts +€23,033
up €23,033 (+2,879%), from €800 to €23,833
- Trade debts -€22,158
down €22,158 (-65.9%), from €33,623 to €11,465
- Tax, wage and social debts +€20,865
up €20,865 (+91.3%), from €22,845 to €43,710
of which Remuneration and social security: +€15,635
- Gross operating margin +€74,551
up €74,551 (+23.0%), from €323,487 to €398,038
- Staff costs +€38,399
up €38,399 (+19.9%), from €192,801 to €231,200
- Financial charges +€23,025
up €23,025 (+172%), from €13,424 to €36,449
- Depreciation +€11,542
up €11,542 (+48.1%), from €24,003 to €35,546
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.
Derived cash bridge
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 | €956,308 | €1,020,851 | +€64,543 | +6.7% |
| Fixed assets | 21/28 | €128,711 | €98,173 | -€30,538 | -23.7% |
| Intangible fixed assets | 21 | €2,806 | €1,487 | -€1,319 | -47.0% |
| Tangible fixed assets | 22/27 | €119,944 | €90,726 | -€29,219 | -24.4% |
| Plant, machinery and equipment | 23 | €51,170 | €36,768 | -€14,402 | -28.1% |
| Furniture and vehicles | 24 | €68,775 | €53,958 | -€14,817 | -21.5% |
| Financial fixed assets | 28 | €5,960 | €5,960 | = | 0.0% |
| Current assets | 29/58 | €827,597 | €922,679 | +€95,081 | +11.5% |
| Stocks and contracts in progress | 3 | €617,425 | €711,422 | +€93,997 | +15.2% |
| Stocks | 30/36 | €617,425 | €711,422 | +€93,997 | +15.2% |
| Amounts receivable within one year | 40/41 | €24,953 | €57,888 | +€32,935 | +132% |
| Trade receivables | 40 | €8,433 | €48,320 | +€39,888 | +473% |
| Other amounts receivable | 41 | €16,521 | €9,568 | -€6,953 | -42.1% |
| Cash at bank and in hand | 54/58 | €181,330 | €145,287 | -€36,043 | -19.9% |
| Deferred charges and accrued income | 490/1 | €3,889 | €8,082 | +€4,193 | +108% |
| Total equity and liabilities | 10/49 | €956,308 | €1,020,851 | +€64,543 | +6.7% |
| Equity | 10/15 | €324,147 | €370,482 | +€46,335 | +14.3% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | €203,000 | €250,150 | +€47,150 | +23.2% |
| Distributable reserves | 133 | €203,000 | €250,150 | +€47,150 | +23.2% |
| Profit (loss) carried forward | 14 | €103,147 | €102,332 | -€815 | -0.8% |
| Amounts payable | 17/49 | €632,161 | €650,369 | +€18,208 | +2.9% |
| Amounts payable after more than one year | 17 | €510,101 | €504,329 | -€5,772 | -1.1% |
| Financial debts | 170/4 | €510,101 | €504,329 | -€5,772 | -1.1% |
| Amounts payable within one year | 42/48 | €122,060 | €146,040 | +€23,980 | +19.6% |
| Current portion of amounts payable after more than one year | 42 | €5,772 | €5,772 | = | 0.0% |
| Financial debts | 43 | €59,020 | €61,260 | +€2,240 | +3.8% |
| Other loans | 439 | €59,020 | €61,260 | +€2,240 | +3.8% |
| Trade debts | 44 | €33,623 | €11,465 | -€22,158 | -65.9% |
| Suppliers | 440/4 | €33,623 | €11,465 | -€22,158 | -65.9% |
| Taxes, remuneration and social security | 45 | €22,845 | €43,710 | +€20,865 | +91.3% |
| Taxes | 450/3 | €4,616 | €9,846 | +€5,231 | +113% |
| Remuneration and social security | 454/9 | €18,229 | €33,864 | +€15,635 | +85.8% |
| Other amounts payable | 47/48 | €800 | €23,833 | +€23,033 | +2,879% |
| Remuneration, social security and pensions | 62 | €192,801 | €231,200 | +€38,399 | +19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,003 | €35,546 | +€11,542 | +48.1% |
| Other operating charges | 640/8 | - | €1 | +€1 | |
| Gross operating margin | 9900 | €323,487 | €398,038 | +€74,551 | +23.0% |
| Operating profit (loss) | 9901 | €106,682 | €131,292 | +€24,610 | +23.1% |
| Financial income | 75/76B | €3,895 | €2,843 | -€1,052 | -27.0% |
| Recurring financial income | 75 | €3,895 | €2,843 | -€1,052 | -27.0% |
| Financial charges | 65/66B | €13,424 | €36,449 | +€23,025 | +172% |
| Recurring financial charges | 65 | €13,424 | €36,449 | +€23,025 | +172% |
| Profit (loss) for the period before taxes | 9903 | €97,153 | €97,686 | +€533 | +0.5% |
| Income taxes | 67/77 | €26,217 | €27,518 | +€1,301 | +5.0% |
| Profit (loss) for the period | 9904 | €70,936 | €70,168 | -€768 | -1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €70,936 | €70,168 | -€768 | -1.1% |
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 19 October 2026 via checked.be.