G. Macken: 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.
G. Macken
Largest movements
- Current assets -€2.4m
down €2.4m (-68.9%), from €3.5m to €1.1m
of which Receivables within one year: -€2.8m
- Financial fixed assets -€51,860
down €51,860 (-100%), from €51,860 to €0
- Total equity and liabilities -€2.5m
down €2.5m (-68.8%), from €3.7m to €1.1m
of which Equity: -€2.5m
- Gross operating margin -€38,014
down €38,014 (-125%), from -€30,352 to -€68,367
- Depreciation -€1,374
down €1,374 (-6.0%), from €23,066 to €21,693
From the 2016 result to the 2017 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2016 | 2017 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,658,987 | €1,142,272 | -€2.5m | -68.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €115,407 | €41,854 | -€73,553 | -63.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €63,547 | €41,854 | -€21,693 | -34.1% |
| Financial fixed assets | 28 | €51,860 | €0 | -€51,860 | -100% |
| Current assets | 29/58 | €3,543,579 | €1,100,418 | -€2.4m | -68.9% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,966,716 | €156,671 | -€2.8m | -94.7% |
| Current investments | 50/53 | €573,799 | €697,502 | +€123,703 | +21.6% |
| Cash at bank and in hand | 54/58 | €29,336 | €29,336 | = | 0.0% |
| Total equity and liabilities | 10/49 | €3,658,987 | €1,142,272 | -€2.5m | -68.8% |
| Equity | 10/15 | €3,658,987 | €1,142,272 | -€2.5m | -68.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €3,705,818 | €618,782 | -€3.1m | -83.3% |
| Profit (loss) carried forward | 14 | €509,862 | €509,862 | = | 0.0% |
| Amounts payable | 17/49 | - | €32,490 | +€32,490 | |
| Amounts payable within one year | 42/48 | - | €32,490 | +€32,490 | |
| Turnover | 70 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,066 | €21,693 | -€1,374 | -6.0% |
| Gross operating margin | 9900 | -€30,352 | -€68,367 | -€38,014 | -125% |
| Operating profit (loss) | 9901 | -€53,512 | -€90,409 | -€36,897 | -69.0% |
| Recurring financial income | 75 | €648,013 | €648,013 | = | 0.0% |
| Recurring financial charges | 65 | €31,974 | €16,217 | -€15,757 | -49.3% |
| Profit (loss) for the period before taxes | 9903 | €583,286 | €583,286 | = | 0.0% |
| Income taxes | 67/77 | -€224 | €411 | +€635 | |
| Profit (loss) for the period | 9904 | €583,286 | €583,286 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €577,293 | €577,293 | = | 0.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2016 and 31 December 2017. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.