MAACCO: 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.
MAACCO
Largest movements
- Intangible fixed assets -€54,337
down €54,337 (-65.5%), from €82,972 to €28,635
- Receivables within one year +€50,793
up €50,793 (+50.2%), from €101,222 to €152,015
of which Trade receivables: +€64,654
- Cash -€13,537
down €13,537 (-10.7%), from €126,878 to €113,340
mainly Receivables within one year (-€50,793) and Contributions, distributions and other (-€50,000)
- Profit (loss) carried forward -€41,102
down €41,102 (-88.1%), from €46,659 to €5,557
- Trade debts +€38,405
up €38,405 (+76.3%), from €50,307 to €88,712
- Current portion of long-term debt -€26,404
down €26,404 (-62.0%), from €42,568 to €16,164
- Debts after one year -€16,164
down €16,164 (-55.6%), from €29,054 to €12,890
- Other debts +€16,103
up €16,103 (+24.3%), from €66,184 to €82,287
- Gross operating margin -€54,950
down €54,950 (-31.2%), from €176,027 to €121,077
- Taxes -€14,015
down €14,015 (-79.2%), from €17,703 to €3,688
- Staff costs +€3,531
up €3,531 (+7.0%), from €50,264 to €53,796
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 | €311,071 | €293,991 | -€17,081 | -5.5% |
| Fixed assets | 21/28 | €82,972 | €28,635 | -€54,337 | -65.5% |
| Intangible fixed assets | 21 | €82,972 | €28,635 | -€54,337 | -65.5% |
| Current assets | 29/58 | €228,100 | €265,356 | +€37,256 | +16.3% |
| Amounts receivable within one year | 40/41 | €101,222 | €152,015 | +€50,793 | +50.2% |
| Trade receivables | 40 | €61,219 | €125,873 | +€64,654 | +106% |
| Other amounts receivable | 41 | €40,003 | €26,143 | -€13,861 | -34.6% |
| Cash at bank and in hand | 54/58 | €126,878 | €113,340 | -€13,537 | -10.7% |
| Total equity and liabilities | 10/49 | €311,071 | €293,991 | -€17,081 | -5.5% |
| Equity | 10/15 | €105,259 | €64,157 | -€41,102 | -39.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €40,000 | €40,000 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,659 | €5,557 | -€41,102 | -88.1% |
| Amounts payable | 17/49 | €205,812 | €229,834 | +€24,022 | +11.7% |
| Amounts payable after more than one year | 17 | €29,054 | €12,890 | -€16,164 | -55.6% |
| Financial debts | 170/4 | €29,054 | €12,890 | -€16,164 | -55.6% |
| Amounts payable within one year | 42/48 | €176,759 | €212,981 | +€36,222 | +20.5% |
| Current portion of amounts payable after more than one year | 42 | €42,568 | €16,164 | -€26,404 | -62.0% |
| Trade debts | 44 | €50,307 | €88,712 | +€38,405 | +76.3% |
| Suppliers | 440/4 | €50,307 | €88,712 | +€38,405 | +76.3% |
| Advances received on contracts in progress | 46 | €750 | - | -€750 | |
| Taxes, remuneration and social security | 45 | €16,949 | €25,818 | +€8,869 | +52.3% |
| Taxes | 450/3 | €9,310 | €17,905 | +€8,596 | +92.3% |
| Remuneration and social security | 454/9 | €7,640 | €7,913 | +€273 | +3.6% |
| Other amounts payable | 47/48 | €66,184 | €82,287 | +€16,103 | +24.3% |
| Accrued charges and deferred income | 492/3 | - | €3,963 | +€3,963 | |
| Remuneration, social security and pensions | 62 | €50,264 | €53,796 | +€3,531 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,337 | €54,337 | +€0 | 0.0% |
| Other operating charges | 640/8 | €549 | €624 | +€74 | +13.5% |
| Gross operating margin | 9900 | €176,027 | €121,077 | -€54,950 | -31.2% |
| Operating profit (loss) | 9901 | €70,877 | €12,321 | -€58,556 | -82.6% |
| Financial income | 75/76B | €778 | €1,034 | +€256 | +32.8% |
| Recurring financial income | 75 | €778 | €1,034 | +€256 | +32.8% |
| Financial charges | 65/66B | €1,323 | €768 | -€554 | -41.9% |
| Recurring financial charges | 65 | €1,323 | €768 | -€554 | -41.9% |
| Profit (loss) for the period before taxes | 9903 | €70,332 | €12,586 | -€57,746 | -82.1% |
| Income taxes | 67/77 | €17,703 | €3,688 | -€14,015 | -79.2% |
| Profit (loss) for the period | 9904 | €52,629 | €8,898 | -€43,731 | -83.1% |
| Profit (loss) for the period to be appropriated | 9905 | €52,629 | €8,898 | -€43,731 | -83.1% |
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 23 October 2026 via checked.be.