MAXXO: 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.
MAXXO
Largest movements
- Tangible fixed assets -€60,404
down €60,404 (-5.0%), from €1.2m to €1.1m
of which Land and buildings: -€64,058
- Receivables within one year -€30,287
down €30,287 (-16.7%), from €181,077 to €150,790
of which Trade receivables: -€35,141
- Profit (loss) carried forward +€77,908
up €77,908 (+379%), from €20,533 to €98,442
- Debts after one year -€64,413
down €64,413 (-8.9%), from €726,419 to €662,005
- Short-term financial debts -€61,263
down €61,263 (-59.3%), from €103,263 to €42,000
of which Credit institutions: -€103,263
- Tax, wage and social debts -€37,681
down €37,681 (-33.8%), from €111,516 to €73,836
of which Taxes: -€30,386
- Gross operating margin -€87,183
down €87,183 (-28.5%), from €306,213 to €219,030
- Other operating charges -€18,471
down €18,471 (-88.3%), from €20,930 to €2,458
- Taxes -€14,751
down €14,751 (-29.6%), from €49,783 to €35,032
- Financial charges -€5,663
down €5,663 (-21.7%), from €26,097 to €20,434
- Financial income +€3,248
up €3,248 (+32.4%), from €10,012 to €13,260
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,989,688 | €1,885,130 | -€104,558 | -5.3% |
| Fixed assets | 21/28 | €1,198,921 | €1,138,516 | -€60,404 | -5.0% |
| Tangible fixed assets | 22/27 | €1,198,921 | €1,138,516 | -€60,404 | -5.0% |
| Land and buildings | 22 | €1,196,656 | €1,132,598 | -€64,058 | -5.4% |
| Furniture and vehicles | 24 | €2,265 | €5,918 | +€3,653 | +161% |
| Current assets | 29/58 | €790,767 | €746,614 | -€44,153 | -5.6% |
| Amounts receivable after more than one year | 29 | €567,500 | €567,500 | = | 0.0% |
| Other amounts receivable | 291 | €567,500 | €567,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €181,077 | €150,790 | -€30,287 | -16.7% |
| Trade receivables | 40 | €91,435 | €56,295 | -€35,141 | -38.4% |
| Other amounts receivable | 41 | €89,642 | €94,495 | +€4,854 | +5.4% |
| Cash at bank and in hand | 54/58 | €28,904 | €11,651 | -€17,254 | -59.7% |
| Deferred charges and accrued income | 490/1 | €13,286 | €16,673 | +€3,387 | +25.5% |
| Total equity and liabilities | 10/49 | €1,989,688 | €1,885,130 | -€104,558 | -5.3% |
| Equity | 10/15 | €862,204 | €938,390 | +€76,187 | +8.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €835,471 | €833,749 | -€1,722 | -0.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €121,254 | €119,532 | -€1,722 | -1.4% |
| Distributable reserves | 133 | €712,357 | €712,357 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,533 | €98,442 | +€77,908 | +379% |
| Provisions and deferred taxes | 16 | €22,114 | €21,376 | -€738 | -3.3% |
| Deferred taxes | 168 | €22,114 | €21,376 | -€738 | -3.3% |
| Amounts payable | 17/49 | €1,105,370 | €925,364 | -€180,006 | -16.3% |
| Amounts payable after more than one year | 17 | €726,419 | €662,005 | -€64,413 | -8.9% |
| Financial debts | 170/4 | €726,419 | €662,005 | -€64,413 | -8.9% |
| Amounts payable within one year | 42/48 | €378,951 | €263,358 | -€115,593 | -30.5% |
| Current portion of amounts payable after more than one year | 42 | €62,287 | €64,413 | +€2,126 | +3.4% |
| Financial debts | 43 | €103,263 | €42,000 | -€61,263 | -59.3% |
| Credit institutions | 430/8 | €103,263 | €0 | -€103,263 | -100% |
| Other loans | 439 | - | €42,000 | +€42,000 | |
| Trade debts | 44 | €101,885 | €83,109 | -€18,776 | -18.4% |
| Suppliers | 440/4 | €101,885 | €83,109 | -€18,776 | -18.4% |
| Taxes, remuneration and social security | 45 | €111,516 | €73,836 | -€37,681 | -33.8% |
| Taxes | 450/3 | €104,222 | €73,836 | -€30,386 | -29.2% |
| Remuneration and social security | 454/9 | €7,295 | €0 | -€7,295 | -100% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,118 | €98,916 | +€2,798 | +2.9% |
| Other operating charges | 640/8 | €20,930 | €2,458 | -€18,471 | -88.3% |
| Non-recurring operating charges | 66A | €33,997 | €0 | -€33,997 | -100% |
| Gross operating margin | 9900 | €306,213 | €219,030 | -€87,183 | -28.5% |
| Operating profit (loss) | 9901 | €155,168 | €117,655 | -€37,513 | -24.2% |
| Financial income | 75/76B | €10,012 | €13,260 | +€3,248 | +32.4% |
| Recurring financial income | 75 | €10,012 | €13,260 | +€3,248 | +32.4% |
| Financial charges | 65/66B | €26,097 | €20,434 | -€5,663 | -21.7% |
| Recurring financial charges | 65 | €26,097 | €20,434 | -€5,663 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €139,082 | €110,481 | -€28,601 | -20.6% |
| Transfer from deferred taxes | 780 | €738 | €738 | = | 0.0% |
| Income taxes | 67/77 | €49,783 | €35,032 | -€14,751 | -29.6% |
| Profit (loss) for the period | 9904 | €90,037 | €76,187 | -€13,851 | -15.4% |
| Transfer from tax-exempt reserves | 789 | €1,722 | €1,722 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €91,759 | €77,908 | -€13,851 | -15.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.