M.A.C. Management: 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. Management
Largest movements
- Cash -€85,219
down €85,219 (-68.2%), from €124,960 to €39,741
mainly Contributions, distributions and other (-€317,593) and Debts after one year (-€44,085)
- Tangible fixed assets -€21,605
down €21,605 (-12.2%), from €177,803 to €156,198
of which Furniture and vehicles: -€34,494
- Profit (loss) carried forward -€86,901
down €86,901 (-100%), from €86,901 to €0
- Other debts +€54,154
up €54,154 (+20.6%), from €263,439 to €317,593
- Debts after one year -€44,085
down €44,085 (-46.1%), from €95,709 to €51,624
- Current portion of long-term debt -€22,377
down €22,377 (-33.7%), from €66,462 to €44,085
- Tax, wage and social debts -€8,066
down €8,066 (-22.6%), from €35,737 to €27,672
- Gross operating margin +€11,041
up €11,041 (+3.1%), from €357,678 to €368,719
- Depreciation +€8,619
up €8,619 (+29.1%), from €29,616 to €38,235
- Taxes +€8,104
up €8,104 (+9.0%), from €90,232 to €98,336
- Other operating charges -€6,175
down €6,175 (-81.5%), from €7,579 to €1,405
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 | €574,658 | €466,536 | -€108,122 | -18.8% |
| Fixed assets | 21/28 | €255,703 | €234,098 | -€21,605 | -8.4% |
| Tangible fixed assets | 22/27 | €177,803 | €156,198 | -€21,605 | -12.2% |
| Furniture and vehicles | 24 | €145,878 | €111,385 | -€34,494 | -23.6% |
| Other tangible fixed assets | 26 | €31,924 | €44,813 | +€12,889 | +40.4% |
| Financial fixed assets | 28 | €77,900 | €77,900 | = | 0.0% |
| Current assets | 29/58 | €318,955 | €232,438 | -€86,517 | -27.1% |
| Amounts receivable within one year | 40/41 | €193,519 | €192,194 | -€1,325 | -0.7% |
| Trade receivables | 40 | €1,499 | €2,361 | +€862 | +57.5% |
| Other amounts receivable | 41 | €192,021 | €189,833 | -€2,187 | -1.1% |
| Cash at bank and in hand | 54/58 | €124,960 | €39,741 | -€85,219 | -68.2% |
| Deferred charges and accrued income | 490/1 | €475 | €503 | +€28 | +5.9% |
| Total equity and liabilities | 10/49 | €574,658 | €466,536 | -€108,122 | -18.8% |
| Equity | 10/15 | €107,361 | €20,460 | -€86,901 | -80.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,901 | €0 | -€86,901 | -100% |
| Amounts payable | 17/49 | €467,297 | €446,076 | -€21,221 | -4.5% |
| Amounts payable after more than one year | 17 | €95,709 | €51,624 | -€44,085 | -46.1% |
| Financial debts | 170/4 | €95,709 | €51,624 | -€44,085 | -46.1% |
| Amounts payable within one year | 42/48 | €371,588 | €394,452 | +€22,864 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €66,462 | €44,085 | -€22,377 | -33.7% |
| Trade debts | 44 | €5,949 | €5,102 | -€847 | -14.2% |
| Suppliers | 440/4 | €5,949 | €5,102 | -€847 | -14.2% |
| Taxes, remuneration and social security | 45 | €35,737 | €27,672 | -€8,066 | -22.6% |
| Taxes | 450/3 | €35,737 | €27,672 | -€8,066 | -22.6% |
| Other amounts payable | 47/48 | €263,439 | €317,593 | +€54,154 | +20.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,616 | €38,235 | +€8,619 | +29.1% |
| Other operating charges | 640/8 | €7,579 | €1,405 | -€6,175 | -81.5% |
| Gross operating margin | 9900 | €357,678 | €368,719 | +€11,041 | +3.1% |
| Operating profit (loss) | 9901 | €320,482 | €329,079 | +€8,597 | +2.7% |
| Financial income | 75/76B | €3,984 | €5,448 | +€1,465 | +36.8% |
| Recurring financial income | 75 | €3,984 | €5,448 | +€1,465 | +36.8% |
| Financial charges | 65/66B | €6,194 | €5,499 | -€695 | -11.2% |
| Recurring financial charges | 65 | €6,194 | €5,499 | -€695 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €318,271 | €329,028 | +€10,757 | +3.4% |
| Income taxes | 67/77 | €90,232 | €98,336 | +€8,104 | +9.0% |
| Profit (loss) for the period | 9904 | €228,039 | €230,692 | +€2,653 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €228,039 | €230,692 | +€2,653 | +1.2% |
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 19 October 2026 via checked.be.