BVBA MAKI: 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.
BVBA MAKI
Largest movements
- Tangible fixed assets +€12,849
up €12,849 (+5.7%), from €225,054 to €237,903
of which Furniture and vehicles: +€22,114
- Receivables within one year -€11,743
down €11,743 (-9.0%), from €130,317 to €118,574
of which Trade receivables: -€7,897
- Cash -€4,868
down €4,868 (-60.5%), from €8,046 to €3,178
mainly Contributions, distributions and other (-€41,793) and Investment in fixed assets (net) (-€41,106)
- Other debts +€47,523
up €47,523, from €0 to €47,523
- Debts after one year -€21,598
down €21,598 (-22.5%), from €95,884 to €74,286
- Trade debts -€10,554
down €10,554 (-64.2%), from €16,447 to €5,894
- Current portion of long-term debt -€10,034
down €10,034 (-31.7%), from €31,632 to €21,598
- Tax, wage and social debts -€3,908
down €3,908 (-100%), from €3,908 to €0
- Financial income -€47,387
down €47,387 (-92.5%), from €51,210 to €3,823
- Gross operating margin +€45,681
up €45,681 (+102%), from €44,827 to €90,507
- Write-downs -€28,516
down €28,516 (-100%), from €28,516 to €0
- Taxes +€15,989
up €15,989 (+559%), from €2,861 to €18,849
- Other operating charges +€1,364
up €1,364 (+47.0%), from €2,906 to €4,271
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €384,398 | €383,636 | -€763 | -0.2% |
| Fixed assets | 21/28 | €225,054 | €237,903 | +€12,849 | +5.7% |
| Tangible fixed assets | 22/27 | €225,054 | €237,903 | +€12,849 | +5.7% |
| Land and buildings | 22 | €181,377 | €176,152 | -€5,225 | -2.9% |
| Plant, machinery and equipment | 23 | €14,707 | €10,666 | -€4,040 | -27.5% |
| Furniture and vehicles | 24 | €28,971 | €51,084 | +€22,114 | +76.3% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €159,344 | €145,733 | -€13,611 | -8.5% |
| Stocks and contracts in progress | 3 | €20,981 | €20,981 | = | 0.0% |
| Stocks | 30/36 | €20,981 | €20,981 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €130,317 | €118,574 | -€11,743 | -9.0% |
| Trade receivables | 40 | €27,519 | €19,621 | -€7,897 | -28.7% |
| Other amounts receivable | 41 | €102,798 | €98,953 | -€3,846 | -3.7% |
| Current investments | 50/53 | - | €3,000 | +€3,000 | |
| Cash at bank and in hand | 54/58 | €8,046 | €3,178 | -€4,868 | -60.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €384,398 | €383,636 | -€763 | -0.2% |
| Equity | 10/15 | €223,555 | €221,586 | -€1,970 | -0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €204,955 | €202,986 | -€1,970 | -1.0% |
| Distributable reserves | 133 | €204,955 | €202,986 | -€1,970 | -1.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €160,843 | €162,050 | +€1,207 | +0.8% |
| Amounts payable after more than one year | 17 | €95,884 | €74,286 | -€21,598 | -22.5% |
| Financial debts | 170/4 | €95,884 | €74,286 | -€21,598 | -22.5% |
| Amounts payable within one year | 42/48 | €64,959 | €87,764 | +€22,805 | +35.1% |
| Current portion of amounts payable after more than one year | 42 | €31,632 | €21,598 | -€10,034 | -31.7% |
| Financial debts | 43 | €12,971 | €12,749 | -€222 | -1.7% |
| Credit institutions | 430/8 | €12,971 | €12,749 | -€222 | -1.7% |
| Trade debts | 44 | €16,447 | €5,894 | -€10,554 | -64.2% |
| Suppliers | 440/4 | €16,447 | €5,894 | -€10,554 | -64.2% |
| Taxes, remuneration and social security | 45 | €3,908 | €0 | -€3,908 | -100% |
| Taxes | 450/3 | €3,908 | €0 | -€3,908 | -100% |
| Other amounts payable | 47/48 | €0 | €47,523 | +€47,523 | |
| Remuneration, social security and pensions | 62 | €276 | €0 | -€276 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,312 | €28,258 | -€1,054 | -3.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €28,516 | €0 | -€28,516 | -100% |
| Other operating charges | 640/8 | €2,906 | €4,271 | +€1,364 | +47.0% |
| Gross operating margin | 9900 | €44,827 | €90,507 | +€45,681 | +102% |
| Operating profit (loss) | 9901 | -€16,183 | €57,979 | +€74,162 | |
| Financial income | 75/76B | €51,210 | €3,823 | -€47,387 | -92.5% |
| Recurring financial income | 75 | €51,210 | €3,823 | -€47,387 | -92.5% |
| Financial charges | 65/66B | €3,561 | €3,129 | -€432 | -12.1% |
| Recurring financial charges | 65 | €3,561 | €3,129 | -€432 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €31,466 | €58,673 | +€27,207 | +86.5% |
| Income taxes | 67/77 | €2,861 | €18,849 | +€15,989 | +559% |
| Profit (loss) for the period | 9904 | €28,606 | €39,824 | +€11,218 | +39.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,606 | €39,824 | +€11,218 | +39.2% |
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 31 October 2026 via checked.be.