THE MAXX: 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 MAXX
Largest movements
- Cash -€3,273
down €3,273 (-9.2%), from €35,607 to €32,334
mainly Net result for the year (-€2,553) and Receivables within one year (-€653)
- Reserves -€2,553
down €2,553 (-4.3%), from €60,002 to €57,449
of which Distributable reserves: -€2,553
- Taxes -€6,312
no longer reported in 2025 (was €6,312)
- Financial income -€3,639
down €3,639 (-88.8%), from €4,100 to €461
- Financial charges -€212
down €212 (-82.9%), from €255 to €44
- Gross operating margin -€184
down €184 (-8.4%), from -€2,195 to -€2,378
- Other operating charges +€75
up €75 (+14.6%), from €516 to €591
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 | €80,242 | €77,700 | -€2,542 | -3.2% |
| Current assets | 29/58 | €80,242 | €77,700 | -€2,542 | -3.2% |
| Amounts receivable within one year | 40/41 | €7,175 | €7,828 | +€653 | +9.1% |
| Other amounts receivable | 41 | €7,175 | €7,828 | +€653 | +9.1% |
| Current investments | 50/53 | €37,078 | €37,078 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €35,607 | €32,334 | -€3,273 | -9.2% |
| Deferred charges and accrued income | 490/1 | €382 | €461 | +€79 | +20.7% |
| Total equity and liabilities | 10/49 | €80,242 | €77,700 | -€2,542 | -3.2% |
| Equity | 10/15 | €80,002 | €77,449 | -€2,553 | -3.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €60,002 | €57,449 | -€2,553 | -4.3% |
| Non-distributable reserves | 130/1 | €3,592 | €3,592 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,592 | €3,592 | = | 0.0% |
| Distributable reserves | 133 | €56,410 | €53,857 | -€2,553 | -4.5% |
| Amounts payable | 17/49 | €240 | €251 | +€11 | +4.5% |
| Amounts payable within one year | 42/48 | €240 | €251 | +€11 | +4.5% |
| Trade debts | 44 | €240 | €251 | +€11 | +4.5% |
| Suppliers | 440/4 | €240 | €251 | +€11 | +4.5% |
| Other operating charges | 640/8 | €516 | €591 | +€75 | +14.6% |
| Gross operating margin | 9900 | -€2,195 | -€2,378 | -€184 | -8.4% |
| Operating profit (loss) | 9901 | -€2,711 | -€2,970 | -€259 | -9.6% |
| Financial income | 75/76B | €4,100 | €461 | -€3,639 | -88.8% |
| Recurring financial income | 75 | €4,100 | €461 | -€3,639 | -88.8% |
| Financial charges | 65/66B | €255 | €44 | -€212 | -82.9% |
| Recurring financial charges | 65 | €255 | €44 | -€212 | -82.9% |
| Profit (loss) for the period before taxes | 9903 | €1,134 | -€2,553 | -€3,686 | |
| Income taxes | 67/77 | €6,312 | - | -€6,312 | |
| Profit (loss) for the period | 9904 | -€5,179 | -€2,553 | +€2,626 | +50.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,179 | -€2,553 | +€2,626 | +50.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.