M.A.C.J.: 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.J.
Largest movements
- Cash +€27,877
up €27,877 (+94.5%), from €29,485 to €57,362
mainly Net result for the year (+€51,913) and Tax, wage and social debts (+€17,610)
- Debts after one year -€56,008
down €56,008 (-12.5%), from €448,710 to €392,702
- Profit (loss) carried forward +€51,913
up €51,913 (+21.6%), from €240,592 to €292,504
- Tax, wage and social debts +€17,610
up €17,610 (+52.2%), from €33,705 to €51,315
- Financial income -€149,992
down €149,992 (-100.0%), from €150,000 to €9
- Other operating charges +€1,666
new in 2025: €1,666
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 | €1,597,060 | €1,618,388 | +€21,328 | +1.3% |
| Fixed assets | 21/28 | €1,535,000 | €1,539,711 | +€4,711 | +0.3% |
| Tangible fixed assets | 22/27 | - | €4,711 | +€4,711 | |
| Furniture and vehicles | 24 | - | €4,711 | +€4,711 | |
| Financial fixed assets | 28 | €1,535,000 | €1,535,000 | = | 0.0% |
| Current assets | 29/58 | €62,060 | €78,677 | +€16,617 | +26.8% |
| Amounts receivable within one year | 40/41 | €32,182 | €20,765 | -€11,416 | -35.5% |
| Trade receivables | 40 | €32,182 | €20,765 | -€11,416 | -35.5% |
| Cash at bank and in hand | 54/58 | €29,485 | €57,362 | +€27,877 | +94.5% |
| Deferred charges and accrued income | 490/1 | €394 | €550 | +€156 | +39.6% |
| Total equity and liabilities | 10/49 | €1,597,060 | €1,618,388 | +€21,328 | +1.3% |
| Equity | 10/15 | €1,040,592 | €1,092,504 | +€51,913 | +5.0% |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €240,592 | €292,504 | +€51,913 | +21.6% |
| Amounts payable | 17/49 | €556,468 | €525,883 | -€30,585 | -5.5% |
| Amounts payable after more than one year | 17 | €448,710 | €392,702 | -€56,008 | -12.5% |
| Financial debts | 170/4 | €448,710 | €392,702 | -€56,008 | -12.5% |
| Amounts payable within one year | 42/48 | €107,758 | €133,182 | +€25,423 | +23.6% |
| Current portion of amounts payable after more than one year | 42 | €53,843 | €56,008 | +€2,166 | +4.0% |
| Trade debts | 44 | €16,464 | €20,699 | +€4,235 | +25.7% |
| Suppliers | 440/4 | €16,464 | €20,699 | +€4,235 | +25.7% |
| Taxes, remuneration and social security | 45 | €33,705 | €51,315 | +€17,610 | +52.2% |
| Taxes | 450/3 | €33,705 | €51,315 | +€17,610 | +52.2% |
| Other amounts payable | 47/48 | €3,747 | €5,160 | +€1,413 | +37.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €379 | +€379 | |
| Other operating charges | 640/8 | - | €1,666 | +€1,666 | |
| Gross operating margin | 9900 | €90,647 | €90,220 | -€426 | -0.5% |
| Operating profit (loss) | 9901 | €90,647 | €88,176 | -€2,470 | -2.7% |
| Financial income | 75/76B | €150,000 | €9 | -€149,992 | -100.0% |
| Recurring financial income | 75 | €150,000 | €9 | -€149,992 | -100.0% |
| Financial charges | 65/66B | €19,241 | €18,998 | -€243 | -1.3% |
| Recurring financial charges | 65 | €19,241 | €18,998 | -€243 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €221,405 | €69,187 | -€152,219 | -68.8% |
| Income taxes | 67/77 | €17,921 | €17,274 | -€646 | -3.6% |
| Profit (loss) for the period | 9904 | €203,485 | €51,913 | -€151,572 | -74.5% |
| Profit (loss) for the period to be appropriated | 9905 | €203,485 | €51,913 | -€151,572 | -74.5% |
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 22 October 2026 via checked.be.