M.A.C.: 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.
M.A.C.
Largest movements
- Tangible fixed assets -€13,473
down €13,473 (-4.7%), from €287,032 to €273,559
of which Land and buildings: -€8,505
- Profit (loss) carried forward +€21,109
up €21,109 (+78.2%), from -€26,989 to -€5,880
- Other debts -€13,658
down €13,658 (-5.9%), from €233,334 to €219,676
- Debts after one year -€9,315
down €9,315 (-100.0%), from €9,315 to €0
- Current portion of long-term debt -€6,191
down €6,191 (-39.9%), from €15,506 to €9,315
- Depreciation -€1,150
down €1,150 (-7.9%), from €14,623 to €13,473
- Gross operating margin +€1,019
up €1,019 (+2.6%), from €38,893 to €39,912
- Financial charges -€622
down €622 (-42.9%), from €1,451 to €829
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €297,263 | €286,841 | -€10,422 | -3.5% |
| Fixed assets | 21/28 | €287,032 | €273,559 | -€13,473 | -4.7% |
| Tangible fixed assets | 22/27 | €287,032 | €273,559 | -€13,473 | -4.7% |
| Land and buildings | 22 | €218,169 | €209,664 | -€8,505 | -3.9% |
| Plant, machinery and equipment | 23 | €68,863 | €63,895 | -€4,968 | -7.2% |
| Current assets | 29/58 | €10,231 | €13,282 | +€3,051 | +29.8% |
| Amounts receivable within one year | 40/41 | - | €56 | +€56 | |
| Trade receivables | 40 | - | €56 | +€56 | |
| Cash at bank and in hand | 54/58 | €10,231 | €12,789 | +€2,558 | +25.0% |
| Deferred charges and accrued income | 490/1 | - | €437 | +€437 | |
| Total equity and liabilities | 10/49 | €297,263 | €286,841 | -€10,422 | -3.5% |
| Equity | 10/15 | €35,011 | €56,120 | +€21,109 | +60.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,989 | -€5,880 | +€21,109 | +78.2% |
| Amounts payable | 17/49 | €262,252 | €230,721 | -€31,531 | -12.0% |
| Amounts payable after more than one year | 17 | €9,315 | €0 | -€9,315 | -100.0% |
| Financial debts | 170/4 | €9,315 | €0 | -€9,315 | -100.0% |
| Amounts payable within one year | 42/48 | €252,937 | €230,721 | -€22,216 | -8.8% |
| Current portion of amounts payable after more than one year | 42 | €15,506 | €9,315 | -€6,191 | -39.9% |
| Trade debts | 44 | €4,096 | €1,730 | -€2,367 | -57.8% |
| Suppliers | 440/4 | €4,096 | €1,730 | -€2,367 | -57.8% |
| Other amounts payable | 47/48 | €233,334 | €219,676 | -€13,658 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,623 | €13,473 | -€1,150 | -7.9% |
| Other operating charges | 640/8 | €4,252 | €4,501 | +€250 | +5.9% |
| Gross operating margin | 9900 | €38,893 | €39,912 | +€1,019 | +2.6% |
| Operating profit (loss) | 9901 | €20,018 | €21,938 | +€1,920 | +9.6% |
| Financial charges | 65/66B | €1,451 | €829 | -€622 | -42.9% |
| Recurring financial charges | 65 | €1,451 | €829 | -€622 | -42.9% |
| Profit (loss) for the period before taxes | 9903 | €18,568 | €21,109 | +€2,542 | +13.7% |
| Profit (loss) for the period | 9904 | €18,568 | €21,109 | +€2,542 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,568 | €21,109 | +€2,542 | +13.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.