M.A.K.E.: 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.K.E.
Largest movements
- Stocks and contracts -€44,068
down €44,068 (-20.9%), from €210,804 to €166,737
- Profit (loss) carried forward -€87,135
down €87,135 (-63.8%), from -€136,482 to -€223,617
- Trade debts +€30,632
up €30,632 (+22.0%), from €139,213 to €169,845
- Other debts +€6,011
up €6,011 (+5.6%), from €107,692 to €113,703
- Tax, wage and social debts +€2,640
up €2,640 (+2.4%), from €109,413 to €112,054
of which Remuneration and social security: +€22,169
- Gross operating margin -€99,463
down €99,463, from €95,682 to -€3,780
- Staff costs -€31,189
down €31,189 (-33.3%), from €93,732 to €62,543
- Other operating charges -€1,146
down €1,146 (-8.8%), from €12,962 to €11,815
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €241,271 | €194,308 | -€46,963 | -19.5% |
| Fixed assets | 21/28 | €1,859 | €2,638 | +€779 | +41.9% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €1,859 | €2,638 | +€779 | +41.9% |
| Current assets | 29/58 | €239,412 | €191,670 | -€47,743 | -19.9% |
| Stocks and contracts in progress | 3 | €210,804 | €166,737 | -€44,068 | -20.9% |
| Stocks | 30/36 | €210,804 | €166,737 | -€44,068 | -20.9% |
| Amounts receivable within one year | 40/41 | €11,601 | €9,231 | -€2,370 | -20.4% |
| Trade receivables | 40 | €11,601 | €9,231 | -€2,370 | -20.4% |
| Cash at bank and in hand | 54/58 | €9,908 | €8,345 | -€1,563 | -15.8% |
| Deferred charges and accrued income | 490/1 | €7,100 | €7,358 | +€258 | +3.6% |
| Total equity and liabilities | 10/49 | €241,271 | €194,308 | -€46,963 | -19.5% |
| Equity | 10/15 | -€116,022 | -€203,157 | -€87,135 | -75.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€136,482 | -€223,617 | -€87,135 | -63.8% |
| Amounts payable | 17/49 | €357,293 | €397,465 | +€40,172 | +11.2% |
| Amounts payable within one year | 42/48 | €356,319 | €395,602 | +€39,283 | +11.0% |
| Trade debts | 44 | €139,213 | €169,845 | +€30,632 | +22.0% |
| Suppliers | 440/4 | €139,213 | €169,845 | +€30,632 | +22.0% |
| Taxes, remuneration and social security | 45 | €109,413 | €112,054 | +€2,640 | +2.4% |
| Taxes | 450/3 | €80,313 | €60,785 | -€19,528 | -24.3% |
| Remuneration and social security | 454/9 | €29,100 | €51,269 | +€22,169 | +76.2% |
| Other amounts payable | 47/48 | €107,692 | €113,703 | +€6,011 | +5.6% |
| Accrued charges and deferred income | 492/3 | €974 | €1,863 | +€889 | +91.3% |
| Remuneration, social security and pensions | 62 | €93,732 | €62,543 | -€31,189 | -33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €297 | €0 | -€297 | -100.0% |
| Other operating charges | 640/8 | €12,962 | €11,815 | -€1,146 | -8.8% |
| Non-recurring operating charges | 66A | - | €2,140 | +€2,140 | |
| Gross operating margin | 9900 | €95,682 | -€3,780 | -€99,463 | |
| Operating profit (loss) | 9901 | -€11,309 | -€80,279 | -€68,970 | -609.9% |
| Financial income | 75/76B | €403 | €425 | +€21 | +5.3% |
| Recurring financial income | 75 | €403 | €425 | +€21 | +5.3% |
| Financial charges | 65/66B | €6,542 | €7,282 | +€740 | +11.3% |
| Recurring financial charges | 65 | €6,542 | €7,282 | +€740 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | -€17,447 | -€87,135 | -€69,689 | -399.4% |
| Profit (loss) for the period | 9904 | -€17,447 | -€87,135 | -€69,689 | -399.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,447 | -€87,135 | -€69,689 | -399.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.