MACOPEX (0428.581.731): financials and annual accounts

MACOPEX

Brussels ·KBO/BCE: BE 0428.581.731

Line	2025	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Balance sheet: assets
Total assets`20/58`	916,997	904,673	946,583	999,724	1.0m	982,813	1.0m	1.1m	1.1m	1.1m	1.1m	1.1m	1.1m	701,904	738,475	686,417	627,576	758,018
Fixed assets`21/28`	684,991	781,435	813,136	841,134	877,842	909,437	944,892	975,481	965,462	967,728	991,073	1.0m	1.1m	623,620	656,125	650,162	580,521	715,349
Tangible fixed assets`22/27`	414,401	510,611	542,312	566,786	603,494	638,689	674,144	704,733	694,714	696,980	720,325	749,773	792,531	352,872	385,377	379,414	331,544	466,372
Land and buildings`22`	389,257	470,280	489,705	509,130	528,555	547,980	567,405	586,830	606,255	625,679	645,104	664,529	683,954	223,756	231,363	273,753	202,468	310,000
Plant, machinery and equipment`23`	675	1,145	1,463	-	-	-	-	-	-	5,004	-	-	-	108,866	123,638	105,661	123,659	145,539
Furniture and vehicles`24`	-	720	2,432	114	22,999	33,153	43,307	40,461	618	-	-	-	-	20,250	-	-	5,417	10,834
Other tangible fixed assets`26`	24,468	38,466	48,712	57,542	51,940	57,556	63,433	77,443	87,842	66,297	75,220	85,243	98,452	-	-	-	-	-
Financial fixed assets`28`	270,591	270,824	270,824	274,348	274,348	270,748	270,748	270,748	270,748	270,748	270,748	270,748	270,748	270,748	270,748	270,748	248,977	248,977
Current assets`29/58`	232,006	123,238	133,447	158,590	146,818	73,376	74,252	76,788	91,583	121,060	111,068	89,995	84,830	78,284	82,350	36,255	47,056	42,669
Stocks and contracts in progress`3`	2,889	2,889	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stocks`30/36`	2,889	2,889	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amounts receivable within one year`40/41`	83,864	93,720	81,074	87,854	97,550	33,070	19,840	44,963	45,332	46,771	40,628	64,794	43,506	63,997	20,597	8,815	7,957	9,854
Trade receivables`40`	19,033	51,315	36,072	58,991	91,286	30,829	11,619	1,846	793	20,655	16,331	13,041	756	756	847	1,224	7,943	6,288
Other amounts receivable`41`	64,831	42,405	45,002	28,863	6,264	2,241	8,221	43,117	44,539	26,116	24,297	51,753	42,750	63,242	19,750	7,590	14	3,566
Current investments`50/53`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,231	2,330	4,020	4,020
Cash at bank and in hand`54/58`	140,277	18,732	46,507	68,863	49,268	35,550	48,826	26,956	41,430	69,043	64,531	19,914	37,608	10,829	51,256	20,977	32,339	26,157
Deferred charges and accrued income`490/1`	4,975	7,897	5,866	1,874	-	4,756	5,587	4,869	4,820	5,246	5,909	5,287	3,716	3,457	7,267	4,133	2,740	2,638
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	916,997	904,673	946,583	999,724	1.0m	982,813	1.0m	1.1m	1.1m	1.1m	1.1m	1.1m	1.1m	701,904	738,475	686,417	627,576	758,018
Equity`10/15`	362,668	429,855	469,296	465,962	458,763	425,382	402,731	382,904	362,250	385,453	371,244	347,974	339,750	350,552	353,288	262,799	204,683	130,783
Contributions`10/11`	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157
Capital`10`	99,157	99,157	99,157	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issued capital`100`	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157	99,157
Reserves`13`	206,993	69,597	71,671	73,745	66,981	68,692	70,404	72,116	73,827	75,540	77,310	79,022	80,734	82,445	110,137	52,096	49,875	17,602
Non-distributable reserves`130/1`	9,916	9,916	9,916	9,916	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	9,916	9,916	9,916	9,916	9,916	9,916	9,916	9,916	9,916	9,916	9,916	9,916	9,916	9,916	9,705	7,997	5,055	2,126
Tax-exempt reserves`132`	197,077	59,681	61,755	63,830	57,065	58,777	60,488	62,200	63,912	65,624	67,395	69,106	70,818	72,529	100,432	44,099	44,820	15,476
Profit (loss) carried forward`14`	56,518	261,101	298,468	293,059	292,624	257,532	233,170	211,631	189,265	210,756	194,776	169,794	159,859	168,949	143,995	111,546	55,651	14,023
Provisions and deferred taxes`16`	57,196	11,051	11,570	12,088	21,446	22,327	49,506	50,388	77,567	104,746	105,627	106,508	107,390	108,271	43,745	14,739	16,127	2,568
Provisions for liabilities and charges`160/5`	-	-	-	-	-	-	26,298	26,298	52,595	78,893	78,893	78,893	78,893	78,893	-	-	1,018	2,568
Pensions and similar obligations`160`	-	-	-	-	-	-	26,298	26,298	-	-	-	-	-	-	-	-	-	-
Deferred taxes`168`	57,196	11,051	11,570	12,088	21,446	22,327	23,209	24,090	24,971	25,853	26,734	27,615	28,497	29,378	43,745	14,739	15,110	-
Amounts payable`17/49`	497,133	463,767	465,717	521,673	544,452	535,104	566,907	618,978	617,228	598,589	625,270	656,033	700,970	243,081	341,441	408,879	406,766	624,667
Amounts payable after more than one year`17`	340,000	405,000	405,000	407,887	425,865	444,823	475,346	505,277	489,819	514,130	539,307	566,039	597,034	84,130	167,461	245,205	236,715	392,890
Financial debts`170/4`	340,000	405,000	405,000	407,887	425,012	443,970	474,493	504,424	488,965	513,277	533,203	557,517	588,391	79,072	162,403	237,027	226,437	381,309
Other amounts payable`178/9`	-	-	-	-	853	853	853	853	853	853	6,103	8,522	8,643	5,058	5,058	8,178	10,278	11,580
Amounts payable within one year`42/48`	90,551	20,310	33,464	86,533	64,333	71,128	72,408	87,257	100,410	57,459	58,964	62,995	98,873	158,952	173,980	160,908	158,023	167,409
Current portion of amounts payable after more than one year`42`	1,621	6,500	7,947	30,910	34,127	44,302	43,712	46,505	32,645	28,356	24,319	17,385	43,328	83,331	82,737	86,383	83,686	82,334
Financial debts`43`	-	-	-	-	-	-	-	-	-	-	8,448	21,239	20,653	29,311	29,357	20,936	-	-
Credit institutions`430/8`	-	-	-	-	-	-	-	-	-	-	8,448	21,239	20,653	29,311	29,357	20,936	-	-
Trade debts`44`	42,368	4,719	669	10,434	19,425	-	2,869	4,255	5,646	2,064	258	254	9,206	26,144	42,143	40,427	39,698	77,100
Suppliers`440/4`	42,368	4,719	669	10,434	19,425	-	2,869	4,255	5,646	2,064	258	254	9,206	26,144	42,143	40,427	39,698	77,100
Advances received on contracts in progress`46`	3,872	5,000	-	-	-	-	-	-	38,720	-	-	-	2,842	-	-	-	-	-
Taxes, remuneration and social security`45`	10,536	767	6,737	45,190	10,782	18,865	16,389	26,428	15,439	19,079	17,978	16,156	14,883	12,204	11,782	8,696	28,072	3,508
Taxes`450/3`	10,536	767	6,333	25,344	3,019	9,789	8,100	15,938	1,783	2,805	3,035	3,265	5,209	5,226	4,343	2,846	24,987	1,874
Remuneration and social security`454/9`	-	-	403	19,845	7,763	9,076	8,289	10,490	13,656	16,274	14,942	12,891	9,675	6,979	7,439	5,850	3,085	1,634
Other amounts payable`47/48`	32,155	3,324	18,111	-	-	7,961	9,438	10,070	7,961	7,960	7,961	7,961	7,961	7,961	7,961	4,468	6,568	4,468
Accrued charges and deferred income`492/3`	66,582	38,457	27,253	27,253	54,253	19,153	19,153	26,443	27,000	27,000	27,000	27,000	5,063	-	-	2,765	12,027	64,368
Income statement
Non-recurring operating income`76A`	916	-	-	833	11	441	18,543	-	-	-	1,187	4,174	2,319	2,260	88,520	6,012	45,270	703
Gross operating margin`9900`	162,760	36,621	82,511	182,345	221,673	291,948	231,499	223,269	192,175	254,809	260,095	247,147	202,331	211,237	194,696	200,322	189,055	127,492
Remuneration, social security and pensions`62`	-	-	-4,261	65,652	83,287	153,500	112,989	120,438	149,263	168,619	148,450	138,717	92,842	82,972	69,733	64,695	54,783	35,539
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	24,555	34,736	33,514	47,577	43,276	47,375	47,003	47,011	37,767	35,102	35,202	53,899	117,953	50,647	48,833	52,973	37,378	41,630
Provisions for liabilities and charges: additions (uses and reversals)`635/8`	-	-	-	-	-	-	-	-26,298	-26,298	-	-	-	-	78,893	-	-1,018	-1,550	-21,599
Other operating charges`640/8`	35,996	25,500	27,391	28,513	21,446	21,093	20,783	26,261	20,430	19,971	17,977	18,263	14,282	19,666	20,802	19,167	18,587	17,034
Non-recurring operating charges`66A`	-	-	-	11,873	-	-	-	-	-	-	5,807	-	-	-	-	-	-	-
Operating profit (loss)`9901`	102,209	-23,615	25,868	28,731	73,663	69,980	50,723	55,856	11,012	31,117	58,466	36,269	-22,745	-20,941	55,328	64,504	79,858	54,889
Financial income`75/76B`	3	6	0	37	-	0	142	1,246	3	16,075	12,094	4,073	22,984	20,243	14,527	19,645	3,043	22,820
Recurring financial income`75`	3	6	0	37	-	0	142	1,246	3	16,075	12,094	4,073	22,984	20,243	14,527	19,645	3,043	22,820
Financial charges`65/66B`	14,433	16,163	16,294	27,273	30,641	29,367	22,864	28,885	35,066	35,152	36,334	33,496	14,226	12,147	28,370	13,654	16,825	23,605
Recurring financial charges`65`	14,433	16,163	16,294	27,273	30,641	29,367	22,864	28,885	35,066	35,152	36,334	33,496	14,226	12,147	28,370	13,654	16,825	23,605
Profit (loss) for the period before taxes`9903`	87,779	-39,772	9,574	1,495	43,023	40,613	28,001	28,217	-24,050	12,040	29,605	11,021	-11,667	-10,585	130,005	76,507	111,345	54,806
Transfer from deferred taxes`780`	519	519	519	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to deferred taxes`680`	47,182	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes`67/77`	1,845	188	6,758	3,653	10,523	18,844	9,055	8,444	34	-1,288	7,217	3,678	16	6,519	10,509	18,762	22,335	19,248
Profit (loss) for the period`9904`	39,270	-39,441	3,334	-1,639	33,381	22,650	19,828	20,654	-23,203	14,209	23,270	8,224	-10,802	-2,737	90,489	58,116	73,901	35,558
Transfer from tax-exempt reserves`789`	2,074	2,074	2,074	2,074	1,712	1,712	1,712	1,712	1,712	1,771	1,712	1,712	1,712	27,902	721	721	68	-
Transfer to tax-exempt reserves`689`	141,545	-	-	-	-	-	-	-	-	-	-	-	-	-	57,053	-	29,412	-
Profit (loss) for the period to be appropriated`9905`	-100,200	-37,367	5,409	435	35,093	24,362	21,539	22,366	-21,491	15,980	24,981	9,936	-9,091	25,165	34,157	58,837	44,557	35,558
Appropriation of the result
Profit (loss) to be appropriated`9906`	56,518	261,101	298,468	293,059	292,624	257,532	233,170	211,631	189,265	210,756	194,776	169,794	159,859	169,160	145,702	114,487	58,580	14,761
Profit (loss) brought forward from the previous period`14P`	156,718	298,468	293,059	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	-	-	-	-	-	-	-	-	-	-	-	-	-	211	1,708	2,942	2,929	738
To the legal reserve`6920`	-	-	-	-	-	-	-	-	-	-	-	-	-	211	1,708	2,942	2,929	738
Social balance sheet
Average staff (FTE)`9087`	-	-	0.1	2.1	2.6	2.7	3.2	3.6	4.9	4.9	5.1	4.6	3.2	2.9	2.7	2.5	2.1	1.3
Hours worked`1013`	-	-	224	3,135	4,270	4,956	5,440	6,502	8,639	8,627	8,784	8,262	5,600	5,208	4,806	4,635	3,197	1,933
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Financial year	Type	Filed	Reference	Document
31-01-2025	micro format	23-12-2025	2025-00588717	PDF
31-01-2023	micro format	31-10-2023	2023-00505193	PDF
31-01-2022	micro format	31-10-2022	2022-20484990	PDF
31-01-2021	micro format	10-11-2021	2021-76900501	PDF
31-01-2020	micro format	01-12-2020	2020-74600107	PDF
31-01-2019	micro format	22-10-2019	2019-71200569	PDF
31-01-2018	micro format	24-08-2018	2018-52500285	PDF
31-01-2017	full format	30-08-2017	2017-52900209	PDF
31-01-2016	full format	29-08-2016	2016-49200320	PDF
31-01-2015	full format	28-07-2015	2015-35500137	PDF
31-01-2014	full format	30-09-2014	2014-60900301	PDF
31-01-2013	full format	30-09-2013	2013-61900073	PDF
31-01-2012	full format	30-09-2012	2012-60200445	PDF
31-01-2011	full format	18-08-2011	2011-40900340	PDF
31-01-2010	full format	31-08-2010	2010-52700025	PDF
31-01-2009	full format	30-09-2009	2009-79000090	PDF
31-01-2008	full format	22-08-2008	2008-61100290	PDF
31-01-2007	full format	27-08-2007	2007-62100276	PDF
31-01-2006	full format	18-08-2006	2006-64202163	PDF
31-01-2005	full format	25-08-2005	2005-65405052	PDF
31-01-2003	full format	11-07-2003	2003-43604008	PDF
31-01-2001	full format	03-09-2001	2001-53504315	PDF
31-01-2000	full format	20-07-2000	2000-44404038	PDF
31-01-1999	full format	01-10-1999	1999-50505255	PDF
31-01-1998	full format	10-07-1998	1998-31504849	PDF
31-01-1997	full format	02-06-1997	1997-11000328	PDF
31-01-1996	full format	04-06-1996	1996-12300157	PDF
31-01-1995	full format	02-06-1995	1995-11205136	PDF
31-01-1994	full format	03-06-1994	1994-11902861	PDF
31-01-1993	full format	23-07-1993	1993-28402412	PDF
31-01-1992	full format	06-08-1992	1992-27204090	PDF
31-01-1991	full format	24-07-1991	1991-19502067	PDF
31-01-1990	full format	31-07-1990	1990-20002454	PDF
31-01-1989	full format	18-08-1989	1989-20501048	PDF
31-01-1988	full format	19-08-1988	1988-19003600	PDF
31-01-1987	full format	19-08-1987	1987-20503783	PDF

Line	2025	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
EBITDA	126,764	11,121	59,382	76,307	116,939	117,355	97,726	102,867	48,780	66,219	93,668	90,168	95,208	29,706	104,161	117,477	117,236	96,518
Cash flow	63,825	-4,706	36,848	45,937	76,657	70,026	66,830	67,665	14,564	49,311	58,471	62,123	107,150	47,910	139,322	111,089	111,279	77,187
Investment in fixed assets	6,917	3,034	9,040	18,668	11,681	11,920	16,414	57,030	35,501	11,758	5,754	11,140	557,612	18,142	89,578	123,343	3,493	115,126
Change in cash	-	-27,775	-22,356	19,595	13,718	-13,276	21,870	-14,474	-27,613	4,512	44,618	-17,694	26,779	-40,427	30,279	-11,361	6,182	-
Working capital	141,454	102,928	99,983	72,057	82,485	2,249	1,845	-10,469	-8,827	63,601	52,105	27,000	-14,043	-80,667	-91,630	-124,653	-110,968	-124,740
Solvency	39.5%	47.5%	49.6%	46.6%	44.8%	43.3%	39.5%	36.4%	34.3%	35.4%	33.7%	31.3%	29.6%	49.9%	47.8%	38.3%	32.6%	17.3%
Current ratio	2.56	6.07	3.99	1.83	2.28	1.03	1.03	0.88	0.91	2.11	1.88	1.43	0.86	0.49	0.47	0.23	0.30	0.25
Quick ratio	2.53	5.93	3.99	1.83	2.28	1.03	1.03	0.88	0.91	2.11	1.88	1.43	0.86	0.49	0.47	0.23	0.30	0.25
Debt to equity	1.37	1.08	0.99	1.12	1.19	1.26	1.41	1.62	1.70	1.55	1.68	1.89	2.06	0.69	0.97	1.56	1.99	4.78
ROE	10.8%	-9.2%	0.7%	-0.4%	7.3%	5.3%	4.9%	5.4%	-6.4%	3.7%	6.3%	2.4%	-3.2%	-0.8%	25.6%	22.1%	36.1%	27.2%
ROA	4.3%	-4.4%	0.4%	-0.2%	3.3%	2.3%	1.9%	2.0%	-2.2%	1.3%	2.1%	0.7%	-0.9%	-0.4%	12.3%	8.5%	11.8%	4.7%
Interest coverage	8.78	0.69	3.64	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Item	31-01-2022
Average over the year, in full-time equivalents	0.1
Joined	0
Left	3

Item	31-01-2025	31-01-2023	31-01-2022
Tangible fixed assets	€6,917	€3,034	€9,040
Depreciation and write-downs of the year	€24,555	€34,736	€33,514

MACOPEX

Annual accounts 2025

Balance sheet

Change in equity

Change in cash

Position in the sector

Solvency39.5%

Current ratio2.56

Return on assets4.3%

Staff

Staff cost per FTE

Joined and left

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Investments

Insights on MACOPEX

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