TEXMAX: 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.
TEXMAX
Largest movements
- Tangible fixed assets -€40,070
down €40,070 (-15.0%), from €267,706 to €227,636
of which Other tangible fixed assets: -€31,142
- Intangible fixed assets -€12,618
down €12,618 (-21.5%), from €58,618 to €46,000
- Cash +€9,837
up €9,837 (+11.7%), from €83,763 to €93,600
mainly Depreciation (+€69,740) and Accrued charges and deferred income (+€27,104)
- Deferred charges and accrued income -€8,219
down €8,219 (-60.0%), from €13,696 to €5,477
- Receivables within one year +€7,545
up €7,545 (+27.4%), from €27,545 to €35,090
of which Trade receivables: +€7,878
- Reserves +€100,000
up €100,000 (+1612.9%), from €6,200 to €106,200
of which Distributable reserves: +€100,000
- Profit (loss) carried forward -€83,766
down €83,766 (-88.4%), from €94,744 to €10,977
- Debts after one year -€62,299
down €62,299 (-66.0%), from €94,324 to €32,025
- Accrued charges and deferred income +€27,104
up €27,104 (+459.2%), from €5,903 to €33,007
- Other debts -€26,040
down €26,040 (-73.4%), from €35,484 to €9,444
- Gross operating margin -€46,389
down €46,389 (-10.4%), from €446,514 to €400,125
- Staff costs -€27,770
down €27,770 (-9.1%), from €304,508 to €276,738
- Other operating charges +€26,252
up €26,252 (+485.0%), from €5,413 to €31,665
- Depreciation -€12,754
down €12,754 (-15.5%), from €82,493 to €69,740
- Taxes +€5,041
new in 2025: €5,041
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 | €463,015 | €415,136 | -€47,880 | -10.3% |
| Fixed assets | 21/28 | €326,324 | €273,636 | -€52,688 | -16.1% |
| Intangible fixed assets | 21 | €58,618 | €46,000 | -€12,618 | -21.5% |
| Tangible fixed assets | 22/27 | €267,706 | €227,636 | -€40,070 | -15.0% |
| Plant, machinery and equipment | 23 | €87,012 | €85,963 | -€1,049 | -1.2% |
| Furniture and vehicles | 24 | €18,653 | €11,341 | -€7,312 | -39.2% |
| Leasing and similar rights | 25 | €567 | - | -€567 | |
| Other tangible fixed assets | 26 | €161,475 | €130,333 | -€31,142 | -19.3% |
| Current assets | 29/58 | €136,692 | €141,500 | +€4,808 | +3.5% |
| Stocks and contracts in progress | 3 | €11,688 | €7,333 | -€4,355 | -37.3% |
| Stocks | 30/36 | €11,688 | €7,333 | -€4,355 | -37.3% |
| Amounts receivable within one year | 40/41 | €27,545 | €35,090 | +€7,545 | +27.4% |
| Trade receivables | 40 | €16,010 | €23,888 | +€7,878 | +49.2% |
| Other amounts receivable | 41 | €11,536 | €11,202 | -€333 | -2.9% |
| Cash at bank and in hand | 54/58 | €83,763 | €93,600 | +€9,837 | +11.7% |
| Deferred charges and accrued income | 490/1 | €13,696 | €5,477 | -€8,219 | -60.0% |
| Total equity and liabilities | 10/49 | €463,015 | €415,136 | -€47,880 | -10.3% |
| Equity | 10/15 | €195,134 | €204,886 | +€9,751 | +5.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €106,200 | +€100,000 | +1612.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | - | €100,000 | +€100,000 | |
| Profit (loss) carried forward | 14 | €94,744 | €10,977 | -€83,766 | -88.4% |
| Investment grants | 15 | €32,191 | €25,708 | -€6,482 | -20.1% |
| Amounts payable | 17/49 | €267,881 | €210,250 | -€57,631 | -21.5% |
| Amounts payable after more than one year | 17 | €94,324 | €32,025 | -€62,299 | -66.0% |
| Financial debts | 170/4 | €94,324 | €32,025 | -€62,299 | -66.0% |
| Amounts payable within one year | 42/48 | €167,654 | €145,218 | -€22,436 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €61,312 | €62,299 | +€987 | +1.6% |
| Trade debts | 44 | €48,128 | €45,598 | -€2,530 | -5.3% |
| Suppliers | 440/4 | €48,128 | €45,598 | -€2,530 | -5.3% |
| Advances received on contracts in progress | 46 | - | €9,009 | +€9,009 | |
| Taxes, remuneration and social security | 45 | €22,730 | €18,869 | -€3,862 | -17.0% |
| Taxes | 450/3 | €329 | €7,255 | +€6,925 | +2102.2% |
| Remuneration and social security | 454/9 | €22,401 | €11,614 | -€10,787 | -48.2% |
| Other amounts payable | 47/48 | €35,484 | €9,444 | -€26,040 | -73.4% |
| Accrued charges and deferred income | 492/3 | €5,903 | €33,007 | +€27,104 | +459.2% |
| Remuneration, social security and pensions | 62 | €304,508 | €276,738 | -€27,770 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,493 | €69,740 | -€12,754 | -15.5% |
| Other operating charges | 640/8 | €5,413 | €31,665 | +€26,252 | +485.0% |
| Gross operating margin | 9900 | €446,514 | €400,125 | -€46,389 | -10.4% |
| Operating profit (loss) | 9901 | €54,099 | €21,982 | -€32,117 | -59.4% |
| Financial income | 75/76B | €7,543 | €6,670 | -€874 | -11.6% |
| Recurring financial income | 75 | €7,543 | €6,670 | -€874 | -11.6% |
| Financial charges | 65/66B | €6,453 | €7,377 | +€924 | +14.3% |
| Recurring financial charges | 65 | €6,453 | €7,377 | +€924 | +14.3% |
| Profit (loss) for the period before taxes | 9903 | €55,189 | €21,275 | -€33,915 | -61.5% |
| Income taxes | 67/77 | - | €5,041 | +€5,041 | |
| Profit (loss) for the period | 9904 | €55,189 | €16,234 | -€38,956 | -70.6% |
| Profit (loss) for the period to be appropriated | 9905 | €55,189 | €16,234 | -€38,956 | -70.6% |
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 29 September 2026 via checked.be.