MAXX PROJECTS: 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.
MAXX PROJECTS
Largest movements
- Receivables within one year +€89,882
up €89,882 (+52.4%), from €171,386 to €261,268
of which Other amounts receivable: +€112,188
- Other debts +€136,622
up €136,622 (+19.9%), from €687,705 to €824,327
- Profit (loss) carried forward -€30,581
down €30,581 (-10.0%), from -€305,242 to -€335,823
- Debts after one year -€26,823
down €26,823 (-6.8%), from €396,437 to €369,614
- Trade debts +€15,219
up €15,219 (+360%), from €4,226 to €19,446
- Depreciation +€6,261
up €6,261 (+10.2%), from €61,215 to €67,476
- Financial charges -€2,617
down €2,617 (-22.8%), from €11,486 to €8,869
- Financial income +€1,500
new in 2025: €1,500
- Gross operating margin -€671
down €671 (-1.3%), from €50,440 to €49,769
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 | €1,410,209 | €1,510,991 | +€100,782 | +7.1% |
| Fixed assets | 21/28 | €1,220,979 | €1,229,218 | +€8,238 | +0.7% |
| Tangible fixed assets | 22/27 | €1,063,479 | €1,071,718 | +€8,238 | +0.8% |
| Land and buildings | 22 | €1,048,003 | €1,010,214 | -€37,790 | -3.6% |
| Plant, machinery and equipment | 23 | €2,476 | €8,454 | +€5,978 | +241% |
| Furniture and vehicles | 24 | €13,000 | €53,051 | +€40,051 | +308% |
| Financial fixed assets | 28 | €157,500 | €157,500 | = | 0.0% |
| Current assets | 29/58 | €189,230 | €281,773 | +€92,543 | +48.9% |
| Amounts receivable within one year | 40/41 | €171,386 | €261,268 | +€89,882 | +52.4% |
| Trade receivables | 40 | €28,120 | €5,814 | -€22,306 | -79.3% |
| Other amounts receivable | 41 | €143,266 | €255,454 | +€112,188 | +78.3% |
| Cash at bank and in hand | 54/58 | €6,082 | €4,252 | -€1,830 | -30.1% |
| Deferred charges and accrued income | 490/1 | €11,762 | €16,253 | +€4,492 | +38.2% |
| Total equity and liabilities | 10/49 | €1,410,209 | €1,510,991 | +€100,782 | +7.1% |
| Equity | 10/15 | €294,758 | €264,177 | -€30,581 | -10.4% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€305,242 | -€335,823 | -€30,581 | -10.0% |
| Amounts payable | 17/49 | €1,115,451 | €1,246,813 | +€131,363 | +11.8% |
| Amounts payable after more than one year | 17 | €396,437 | €369,614 | -€26,823 | -6.8% |
| Financial debts | 170/4 | €396,437 | €369,614 | -€26,823 | -6.8% |
| Amounts payable within one year | 42/48 | €719,014 | €877,199 | +€158,185 | +22.0% |
| Current portion of amounts payable after more than one year | 42 | €26,175 | €33,427 | +€7,252 | +27.7% |
| Trade debts | 44 | €4,226 | €19,446 | +€15,219 | +360% |
| Suppliers | 440/4 | €4,226 | €19,446 | +€15,219 | +360% |
| Taxes, remuneration and social security | 45 | €908 | €0 | -€908 | -100% |
| Taxes | 450/3 | €908 | €0 | -€908 | -100% |
| Other amounts payable | 47/48 | €687,705 | €824,327 | +€136,622 | +19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,215 | €67,476 | +€6,261 | +10.2% |
| Other operating charges | 640/8 | €5,589 | €5,505 | -€84 | -1.5% |
| Gross operating margin | 9900 | €50,440 | €49,769 | -€671 | -1.3% |
| Operating profit (loss) | 9901 | -€16,364 | -€23,212 | -€6,848 | -41.9% |
| Financial income | 75/76B | - | €1,500 | +€1,500 | |
| Recurring financial income | 75 | - | €1,500 | +€1,500 | |
| Financial charges | 65/66B | €11,486 | €8,869 | -€2,617 | -22.8% |
| Recurring financial charges | 65 | €11,486 | €8,869 | -€2,617 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | -€27,850 | -€30,581 | -€2,731 | -9.8% |
| Income taxes | 67/77 | €120 | €0 | -€120 | -100% |
| Profit (loss) for the period | 9904 | -€27,970 | -€30,581 | -€2,611 | -9.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,970 | -€30,581 | -€2,611 | -9.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.