Maxanna: 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.
What changed
Maxanna
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€164,798
2024 · €168,450-€3,653
Equity
€3.4m
2024 · €3.3m+€164,798
Cash
€328,956
2024 · €279,197+€49,759
Balance sheet total
€7.3m
2024 · €7.5m-€239,685
Largest movements
Assets
- Tangible fixed assets -€233,103
down €233,103 (-6.4%), from €3.6m to €3.4m
of which Land and buildings: -€215,031
Equity and liabilities
- Debts after one year -€344,881
down €344,881 (-18.5%), from €1.9m to €1.5m
- Reserves +€164,798
up €164,798 (+8.2%), from €2.0m to €2.2m
Income statement
- Turnover +€399,480
up €399,480 (+35.2%), from €1.1m to €1.5m
- Staff costs +€276,208
new in 2025: €276,208
- Financial income -€69,339
down €69,339 (-93.4%), from €74,250 to €4,911
- Taxes +€28,665
up €28,665 (+99.6%), from €28,788 to €57,453
- Services and other goods +€28,303
up €28,303 (+4.4%), from €649,228 to €677,531
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.
Result 2024
€168,450
Turnover
+€399,480
Other operating income
+€5,050
Services and other goods
-€28,303
Staff costs
-€276,208
Depreciation
-€1,456
Other operating charges
-€677
Other operating items
-€10,389
Financial income
-€69,339
Financial charges
+€6,854
Taxes
-€28,665
Result 2025
€164,798
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€432,140
Investment
€0
Financing
-€382,381
Cash 2024
€279,197
From operations (derived)
+€432,140
Net result for the year
+€164,798
Depreciation
+€233,103
Receivables within one year
+€56,030
Deferred charges and accrued income
+€310
Provisions
-€47,094
Trade debts
-€4,333
Tax, wage and social debts
+€37,101
Accrued charges and deferred income
-€7,776
Financing
-€382,381
Debts after one year
-€344,881
Current portion of long-term debt
-€37,500
Cash 2025
€328,956
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,543,102 | €7,303,417 | -€239,685 | -3.2% |
| Fixed assets | 21/28 | €7,045,196 | €6,812,092 | -€233,103 | -3.3% |
| Tangible fixed assets | 22/27 | €3,634,126 | €3,401,022 | -€233,103 | -6.4% |
| Land and buildings | 22 | €3,560,381 | €3,345,350 | -€215,031 | -6.0% |
| Furniture and vehicles | 24 | €73,745 | €55,673 | -€18,072 | -24.5% |
| Financial fixed assets | 28 | €3,411,070 | €3,411,070 | = | 0.0% |
| Affiliated companies | 280/1 | €3,411,070 | €3,411,070 | = | 0.0% |
| Participating interests | 280 | €3,411,070 | €3,411,070 | = | 0.0% |
| Current assets | 29/58 | €497,906 | €491,325 | -€6,581 | -1.3% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €217,040 | €161,010 | -€56,030 | -25.8% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €217,040 | €161,010 | -€56,030 | -25.8% |
| Cash at bank and in hand | 54/58 | €279,197 | €328,956 | +€49,759 | +17.8% |
| Deferred charges and accrued income | 490/1 | €1,669 | €1,359 | -€310 | -18.6% |
| Total equity and liabilities | 10/49 | €7,543,102 | €7,303,417 | -€239,685 | -3.2% |
| Equity | 10/15 | €3,282,863 | €3,447,661 | +€164,798 | +5.0% |
| Contributions | 10/11 | €1,284,000 | €1,284,000 | = | 0.0% |
| Reserves | 13 | €1,998,863 | €2,163,661 | +€164,798 | +8.2% |
| Distributable reserves | 133 | €1,998,863 | €2,163,661 | +€164,798 | +8.2% |
| Provisions and deferred taxes | 16 | €1,346,396 | €1,299,302 | -€47,094 | -3.5% |
| Provisions for liabilities and charges | 160/5 | €1,346,396 | €1,299,302 | -€47,094 | -3.5% |
| Other liabilities and charges | 164/5 | €1,346,396 | €1,299,302 | -€47,094 | -3.5% |
| Amounts payable | 17/49 | €2,913,843 | €2,556,455 | -€357,388 | -12.3% |
| Amounts payable after more than one year | 17 | €1,864,444 | €1,519,563 | -€344,881 | -18.5% |
| Financial debts | 170/4 | €1,864,444 | €1,519,563 | -€344,881 | -18.5% |
| Credit institutions | 173 | €1,864,444 | €1,519,563 | -€344,881 | -18.5% |
| Amounts payable within one year | 42/48 | €954,731 | €950,000 | -€4,732 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €382,381 | €344,881 | -€37,500 | -9.8% |
| Trade debts | 44 | €68,930 | €64,597 | -€4,333 | -6.3% |
| Suppliers | 440/4 | €68,930 | €64,597 | -€4,333 | -6.3% |
| Taxes, remuneration and social security | 45 | €3,421 | €40,522 | +€37,101 | +1,085% |
| Taxes | 450/3 | €3,421 | €12,453 | +€9,033 | +264% |
| Remuneration and social security | 454/9 | - | €28,069 | +€28,069 | |
| Other amounts payable | 47/48 | €500,000 | €500,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €94,667 | €86,892 | -€7,776 | -8.2% |
| Operating income | 70/76A | €1,197,062 | €1,591,204 | +€394,141 | +32.9% |
| Turnover | 70 | €1,134,520 | €1,534,000 | +€399,480 | +35.2% |
| Other operating income | 74 | €34,153 | €39,204 | +€5,050 | +14.8% |
| Non-recurring operating income | 76A | €28,389 | €18,000 | -€10,389 | -36.6% |
| Operating charges | 60/66A | €905,173 | €1,211,816 | +€306,643 | +33.9% |
| Services and other goods | 61 | €649,228 | €677,531 | +€28,303 | +4.4% |
| Remuneration, social security and pensions | 62 | - | €276,208 | +€276,208 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €231,648 | €233,103 | +€1,456 | +0.6% |
| Other operating charges | 640/8 | €24,297 | €24,974 | +€677 | +2.8% |
| Operating profit (loss) | 9901 | €291,890 | €379,388 | +€87,498 | +30.0% |
| Financial income | 75/76B | €74,250 | €4,911 | -€69,339 | -93.4% |
| Recurring financial income | 75 | €74,250 | €4,911 | -€69,339 | -93.4% |
| Income from financial fixed assets | 750 | €72,500 | €0 | -€72,500 | -100% |
| Income from current assets | 751 | €1,750 | €4,911 | +€3,161 | +181% |
| Other financial income | 752/9 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €168,901 | €162,047 | -€6,854 | -4.1% |
| Recurring financial charges | 65 | €168,901 | €162,047 | -€6,854 | -4.1% |
| Debt charges | 650 | €138,516 | €129,464 | -€9,051 | -6.5% |
| Other financial charges | 652/9 | €30,386 | €32,583 | +€2,197 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €197,239 | €222,251 | +€25,013 | +12.7% |
| Income taxes | 67/77 | €28,788 | €57,453 | +€28,665 | +99.6% |
| Taxes | 670/3 | €28,788 | €57,453 | +€28,665 | +99.6% |
| Profit (loss) for the period | 9904 | €168,450 | €164,798 | -€3,653 | -2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €168,450 | €164,798 | -€3,653 | -2.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.