Maxxim: 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.
Maxxim
Largest movements
- Receivables within one year +€20,498
up €20,498 (+31.0%), from €66,097 to €86,595
of which Other amounts receivable: +€22,685
- Cash +€9,633
up €9,633 (+80.6%), from €11,949 to €21,582
mainly Net result for the year (+€23,227) and Depreciation (+€15,766)
- Intangible fixed assets -€8,000
down €8,000 (-40.1%), from €19,945 to €11,945
- Tangible fixed assets -€4,809
down €4,809 (-24.4%), from €19,730 to €14,921
of which Furniture and vehicles: -€4,435
- Profit (loss) carried forward +€11,463
up €11,463 (+22.0%), from €52,046 to €63,509
- Debts after one year -€10,096
down €10,096 (-32.9%), from €30,718 to €20,622
- Other debts +€9,186
up €9,186 (+356.2%), from €2,579 to €11,765
- Tax, wage and social debts +€6,609
up €6,609 (+39.9%), from €16,560 to €23,168
of which Taxes: +€6,105
- Gross operating margin +€14,386
up €14,386 (+14.1%), from €102,202 to €116,589
- Staff costs +€7,553
up €7,553 (+12.9%), from €58,415 to €65,968
- Depreciation +€3,011
up €3,011 (+23.6%), from €12,755 to €15,766
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 | €117,791 | €135,669 | +€17,878 | +15.2% |
| Fixed assets | 21/28 | €39,675 | €26,866 | -€12,809 | -32.3% |
| Intangible fixed assets | 21 | €19,945 | €11,945 | -€8,000 | -40.1% |
| Tangible fixed assets | 22/27 | €19,730 | €14,921 | -€4,809 | -24.4% |
| Land and buildings | 22 | €3,157 | €2,783 | -€374 | -11.9% |
| Furniture and vehicles | 24 | €16,573 | €12,138 | -€4,435 | -26.8% |
| Current assets | 29/58 | €78,116 | €108,803 | +€30,687 | +39.3% |
| Amounts receivable within one year | 40/41 | €66,097 | €86,595 | +€20,498 | +31.0% |
| Trade receivables | 40 | €45,525 | €43,338 | -€2,187 | -4.8% |
| Other amounts receivable | 41 | €20,571 | €43,257 | +€22,685 | +110.3% |
| Cash at bank and in hand | 54/58 | €11,949 | €21,582 | +€9,633 | +80.6% |
| Deferred charges and accrued income | 490/1 | €70 | €626 | +€556 | +798.7% |
| Total equity and liabilities | 10/49 | €117,791 | €135,669 | +€17,878 | +15.2% |
| Equity | 10/15 | €54,046 | €65,509 | +€11,463 | +21.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,046 | €63,509 | +€11,463 | +22.0% |
| Amounts payable | 17/49 | €63,744 | €70,159 | +€6,415 | +10.1% |
| Amounts payable after more than one year | 17 | €30,718 | €20,622 | -€10,096 | -32.9% |
| Financial debts | 170/4 | €30,718 | €20,622 | -€10,096 | -32.9% |
| Amounts payable within one year | 42/48 | €33,026 | €48,237 | +€15,211 | +46.1% |
| Current portion of amounts payable after more than one year | 42 | €9,663 | €10,096 | +€433 | +4.5% |
| Trade debts | 44 | €4,225 | €3,208 | -€1,017 | -24.1% |
| Suppliers | 440/4 | €4,225 | €3,208 | -€1,017 | -24.1% |
| Taxes, remuneration and social security | 45 | €16,560 | €23,168 | +€6,609 | +39.9% |
| Taxes | 450/3 | €6,735 | €12,841 | +€6,105 | +90.6% |
| Remuneration and social security | 454/9 | €9,824 | €10,328 | +€503 | +5.1% |
| Other amounts payable | 47/48 | €2,579 | €11,765 | +€9,186 | +356.2% |
| Accrued charges and deferred income | 492/3 | - | €1,300 | +€1,300 | |
| Remuneration, social security and pensions | 62 | €58,415 | €65,968 | +€7,553 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,755 | €15,766 | +€3,011 | +23.6% |
| Other operating charges | 640/8 | €2,036 | €1,520 | -€517 | -25.4% |
| Gross operating margin | 9900 | €102,202 | €116,589 | +€14,386 | +14.1% |
| Operating profit (loss) | 9901 | €28,997 | €33,335 | +€4,338 | +15.0% |
| Financial income | 75/76B | €1,518 | €508 | -€1,009 | -66.5% |
| Recurring financial income | 75 | €1,518 | €508 | -€1,009 | -66.5% |
| Financial charges | 65/66B | €3,178 | €2,292 | -€886 | -27.9% |
| Recurring financial charges | 65 | €3,178 | €2,292 | -€886 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €27,336 | €31,551 | +€4,215 | +15.4% |
| Income taxes | 67/77 | €8,182 | €8,324 | +€142 | +1.7% |
| Profit (loss) for the period | 9904 | €19,155 | €23,227 | +€4,073 | +21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,155 | €23,227 | +€4,073 | +21.3% |
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 7 October 2026 via checked.be.