The Maximizer: 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.
The Maximizer
Largest movements
- Tangible fixed assets -€286,761
down €286,761 (-18.6%), from €1.5m to €1.3m
of which Plant, machinery and equipment: -€302,941
- Receivables within one year +€35,796
up €35,796 (+4.3%), from €842,032 to €877,828
of which Other amounts receivable: +€28,885
- Other debts -€440,989
down €440,989 (-14.6%), from €3.0m to €2.6m
- Trade debts +€127,942
up €127,942 (+521.0%), from €24,558 to €152,501
- Profit (loss) carried forward +€39,434
up €39,434 (+13.6%), from -€289,511 to -€250,077
- Financial charges -€95,738
down €95,738 (-99.5%), from €96,233 to €495
- Depreciation +€15,187
up €15,187 (+3.7%), from €406,529 to €421,716
- Gross operating margin -€12,009
down €12,009 (-2.5%), from €476,460 to €464,451
- Financial income -€9,253
down €9,253 (-89.7%), from €10,311 to €1,058
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 | €2,776,741 | €2,503,128 | -€273,613 | -9.9% |
| Fixed assets | 21/28 | €1,544,362 | €1,257,601 | -€286,761 | -18.6% |
| Tangible fixed assets | 22/27 | €1,544,362 | €1,257,601 | -€286,761 | -18.6% |
| Land and buildings | 22 | €290,795 | €306,974 | +€16,180 | +5.6% |
| Plant, machinery and equipment | 23 | €1,253,567 | €950,626 | -€302,941 | -24.2% |
| Current assets | 29/58 | €1,232,379 | €1,245,527 | +€13,148 | +1.1% |
| Amounts receivable within one year | 40/41 | €842,032 | €877,828 | +€35,796 | +4.3% |
| Trade receivables | 40 | €487,835 | €494,746 | +€6,911 | +1.4% |
| Other amounts receivable | 41 | €354,197 | €383,082 | +€28,885 | +8.2% |
| Cash at bank and in hand | 54/58 | €2,789 | €541 | -€2,248 | -80.6% |
| Deferred charges and accrued income | 490/1 | €387,558 | €367,158 | -€20,400 | -5.3% |
| Total equity and liabilities | 10/49 | €2,776,741 | €2,503,128 | -€273,613 | -9.9% |
| Equity | 10/15 | -€270,113 | -€230,679 | +€39,434 | +14.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €798 | €798 | = | 0.0% |
| Distributable reserves | 133 | €798 | €798 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€289,511 | -€250,077 | +€39,434 | +13.6% |
| Amounts payable | 17/49 | €3,046,854 | €2,733,807 | -€313,046 | -10.3% |
| Amounts payable within one year | 42/48 | €3,046,854 | €2,733,807 | -€313,046 | -10.3% |
| Trade debts | 44 | €24,558 | €152,501 | +€127,942 | +521.0% |
| Suppliers | 440/4 | €24,558 | €152,501 | +€127,942 | +521.0% |
| Other amounts payable | 47/48 | €3,022,295 | €2,581,307 | -€440,989 | -14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €406,529 | €421,716 | +€15,187 | +3.7% |
| Other operating charges | 640/8 | €4,615 | €3,865 | -€751 | -16.3% |
| Gross operating margin | 9900 | €476,460 | €464,451 | -€12,009 | -2.5% |
| Operating profit (loss) | 9901 | €65,315 | €38,870 | -€26,445 | -40.5% |
| Financial income | 75/76B | €10,311 | €1,058 | -€9,253 | -89.7% |
| Recurring financial income | 75 | €10,311 | €1,058 | -€9,253 | -89.7% |
| Financial charges | 65/66B | €96,233 | €495 | -€95,738 | -99.5% |
| Recurring financial charges | 65 | €96,233 | €495 | -€95,738 | -99.5% |
| Profit (loss) for the period before taxes | 9903 | -€20,606 | €39,434 | +€60,040 | |
| Profit (loss) for the period | 9904 | -€20,606 | €39,434 | +€60,040 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,606 | €39,434 | +€60,040 |
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 1 October 2026 via checked.be.