M.A.C.: what changed
Two fiscal 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
- Deferred charges and accrued income +€96,364
up €96,364 (+21795.8%), from €442 to €96,806
- Tangible fixed assets -€16,996
down €16,996 (-22.2%), from €76,457 to €59,462
- Cash +€13,705
up €13,705 (+496.9%), from €2,758 to €16,464
mainly Trade debts (+€102,365) and Other debts (+€47,665)
- Intangible fixed assets +€9,410
new in 2025: €9,410
- Trade debts +€102,365
up €102,365 (+8295.0%), from €1,234 to €103,599
- Other debts +€47,665
up €47,665 (+75.1%), from €63,482 to €111,147
- Profit (loss) carried forward -€28,234
down €28,234 (-135.0%), from -€20,915 to -€49,149
- Debts after one year -€17,503
down €17,503 (-100.0%), from €17,503 to €0
- Tax, wage and social debts -€7,000
down €7,000 (-29.2%), from €24,000 to €17,000
of which Remuneration and social security: -€10,000
- Purchases and services +€208,965
up €208,965 (+41.7%), from €500,966 to €709,931
- Turnover +€171,994
up €171,994 (+31.7%), from €543,179 to €715,173
- Gross operating margin -€37,268
down €37,268 (-79.2%), from €47,054 to €9,786
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.
Cash bridge derived
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 | €94,676 | €197,159 | +€102,483 | +108.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €76,457 | €68,871 | -€7,586 | -9.9% |
| Intangible fixed assets | 21 | - | €9,410 | +€9,410 | |
| Tangible fixed assets | 22/27 | €76,457 | €59,462 | -€16,996 | -22.2% |
| Furniture and vehicles | 24 | €76,457 | €59,462 | -€16,996 | -22.2% |
| Current assets | 29/58 | €18,219 | €128,288 | +€110,069 | +604.2% |
| Amounts receivable within one year | 40/41 | €15,018 | €15,018 | = | 0.0% |
| Other amounts receivable | 41 | €15,018 | €15,018 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,758 | €16,464 | +€13,705 | +496.9% |
| Deferred charges and accrued income | 490/1 | €442 | €96,806 | +€96,364 | +21795.8% |
| Total equity and liabilities | 10/49 | €94,676 | €197,159 | +€102,483 | +108.2% |
| Equity | 10/15 | -€11,544 | -€39,777 | -€28,234 | -244.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €3,172 | €3,172 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,312 | €1,312 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,915 | -€49,149 | -€28,234 | -135.0% |
| Amounts payable | 17/49 | €106,219 | €236,936 | +€130,717 | +123.1% |
| Amounts payable after more than one year | 17 | €17,503 | €0 | -€17,503 | -100.0% |
| Financial debts | 170/4 | €17,503 | €0 | -€17,503 | -100.0% |
| Amounts payable within one year | 42/48 | €88,716 | €236,936 | +€148,220 | +167.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | €5,190 | +€5,190 | |
| Trade debts | 44 | €1,234 | €103,599 | +€102,365 | +8295.0% |
| Suppliers | 440/4 | €1,234 | €103,599 | +€102,365 | +8295.0% |
| Taxes, remuneration and social security | 45 | €24,000 | €17,000 | -€7,000 | -29.2% |
| Taxes | 450/3 | €12,000 | €15,000 | +€3,000 | +25.0% |
| Remuneration and social security | 454/9 | €12,000 | €2,000 | -€10,000 | -83.3% |
| Other amounts payable | 47/48 | €63,482 | €111,147 | +€47,665 | +75.1% |
| Turnover | 70 | €543,179 | €715,173 | +€171,994 | +31.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €500,966 | €709,931 | +€208,965 | +41.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,287 | €36,066 | +€4,779 | +15.3% |
| Other operating charges | 640/8 | €1,139 | €1,333 | +€194 | +17.0% |
| Gross operating margin | 9900 | €47,054 | €9,786 | -€37,268 | -79.2% |
| Operating profit (loss) | 9901 | €14,628 | -€27,613 | -€42,241 | |
| Financial income | 75/76B | €410 | €230 | -€180 | -44.0% |
| Recurring financial income | 75 | €410 | €230 | -€180 | -44.0% |
| Financial charges | 65/66B | €592 | €807 | +€215 | +36.4% |
| Recurring financial charges | 65 | €592 | €807 | +€215 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | €14,446 | -€28,191 | -€42,637 | |
| Income taxes | 67/77 | €36 | €43 | +€7 | +19.4% |
| Profit (loss) for the period | 9904 | €14,410 | -€28,234 | -€42,643 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,410 | -€28,234 | -€42,643 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.