MAXXIMUS: 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.
MAXXIMUS
Largest movements
- Cash +€65,816
up €65,816 (+330.8%), from €19,895 to €85,711
mainly Net result for the year (+€52,437) and Tax, wage and social debts (+€19,432)
- Receivables within one year +€39,949
up €39,949 (+51.1%), from €78,154 to €118,103
of which Trade receivables: +€27,000
- Tangible fixed assets -€12,658
down €12,658 (-28.5%), from €44,418 to €31,760
- Deferred charges and accrued income -€9,683
down €9,683 (-96.8%), from €10,000 to €317
- Reserves +€52,437
up €52,437 (+63.3%), from €82,896 to €135,332
of which Distributable reserves: +€52,437
- Tax, wage and social debts +€19,432
up €19,432 (+228.2%), from €8,515 to €27,947
- Advances received +€12,100
new in 2025: €12,100
- Debts after one year -€10,733
down €10,733 (-69.9%), from €15,345 to €4,612
- Short-term financial debts +€9,876
up €9,876 (+839.3%), from €1,177 to €11,052
- Gross operating margin +€71,402
up €71,402 (+324.2%), from €22,027 to €93,428
- Taxes +€25,375
up €25,375 (+772.5%), from €3,285 to €28,660
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 | €152,467 | €235,891 | +€83,424 | +54.7% |
| Fixed assets | 21/28 | €44,418 | €31,760 | -€12,658 | -28.5% |
| Tangible fixed assets | 22/27 | €44,418 | €31,760 | -€12,658 | -28.5% |
| Furniture and vehicles | 24 | €44,418 | €31,760 | -€12,658 | -28.5% |
| Current assets | 29/58 | €108,049 | €204,131 | +€96,082 | +88.9% |
| Amounts receivable within one year | 40/41 | €78,154 | €118,103 | +€39,949 | +51.1% |
| Trade receivables | 40 | - | €27,000 | +€27,000 | |
| Other amounts receivable | 41 | €78,154 | €91,103 | +€12,949 | +16.6% |
| Cash at bank and in hand | 54/58 | €19,895 | €85,711 | +€65,816 | +330.8% |
| Deferred charges and accrued income | 490/1 | €10,000 | €317 | -€9,683 | -96.8% |
| Total equity and liabilities | 10/49 | €152,467 | €235,891 | +€83,424 | +54.7% |
| Equity | 10/15 | €109,396 | €161,832 | +€52,437 | +47.9% |
| Contributions | 10/11 | €26,500 | €26,500 | = | 0.0% |
| Reserves | 13 | €82,896 | €135,332 | +€52,437 | +63.3% |
| Non-distributable reserves | 130/1 | €2,650 | €2,650 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,650 | €2,650 | = | 0.0% |
| Distributable reserves | 133 | €80,246 | €132,682 | +€52,437 | +65.3% |
| Amounts payable | 17/49 | €43,071 | €74,058 | +€30,987 | +71.9% |
| Amounts payable after more than one year | 17 | €15,345 | €4,612 | -€10,733 | -69.9% |
| Financial debts | 170/4 | €15,345 | €4,612 | -€10,733 | -69.9% |
| Amounts payable within one year | 42/48 | €27,727 | €69,447 | +€41,720 | +150.5% |
| Current portion of amounts payable after more than one year | 42 | €10,277 | €10,733 | +€456 | +4.4% |
| Financial debts | 43 | €1,177 | €11,052 | +€9,876 | +839.3% |
| Credit institutions | 430/8 | €1,177 | €11,052 | +€9,876 | +839.3% |
| Trade debts | 44 | €7,758 | €7,615 | -€143 | -1.8% |
| Suppliers | 440/4 | €7,758 | €7,615 | -€143 | -1.8% |
| Advances received on contracts in progress | 46 | - | €12,100 | +€12,100 | |
| Taxes, remuneration and social security | 45 | €8,515 | €27,947 | +€19,432 | +228.2% |
| Taxes | 450/3 | €8,515 | €27,947 | +€19,432 | +228.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,845 | €14,822 | -€24 | -0.2% |
| Other operating charges | 640/8 | €727 | €867 | +€140 | +19.2% |
| Gross operating margin | 9900 | €22,027 | €93,428 | +€71,402 | +324.2% |
| Operating profit (loss) | 9901 | €6,454 | €77,740 | +€71,286 | +1104.5% |
| Financial income | 75/76B | €4,630 | €4,587 | -€43 | -0.9% |
| Recurring financial income | 75 | €4,630 | €4,587 | -€43 | -0.9% |
| Financial charges | 65/66B | €1,677 | €1,230 | -€447 | -26.7% |
| Recurring financial charges | 65 | €1,677 | €1,230 | -€447 | -26.7% |
| Profit (loss) for the period before taxes | 9903 | €9,407 | €81,096 | +€71,690 | +762.1% |
| Income taxes | 67/77 | €3,285 | €28,660 | +€25,375 | +772.5% |
| Profit (loss) for the period | 9904 | €6,122 | €52,437 | +€46,315 | +756.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,122 | €52,437 | +€46,315 | +756.5% |
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 6 October 2026 via checked.be.