MAC 16: 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.
MAC 16
Largest movements
- Tangible fixed assets -€10,066
down €10,066 (-4.0%), from €249,807 to €239,741
- Receivables within one year +€9,551
up €9,551 (+12.4%), from €77,061 to €86,611
No liability line moved by more than 1% of the balance sheet total.
- Taxes -€22,646
no longer reported in 2025 (was €22,646)
- Gross operating margin +€6,577
up €6,577, from -€1,767 to €4,811
- Financial income -€465
down €465 (-9.5%), from €4,900 to €4,435
- Other operating charges -€355
down €355 (-24.9%), from €1,423 to €1,068
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 | €328,656 | €326,707 | -€1,949 | -0.6% |
| Fixed assets | 21/28 | €249,807 | €239,741 | -€10,066 | -4.0% |
| Tangible fixed assets | 22/27 | €249,807 | €239,741 | -€10,066 | -4.0% |
| Land and buildings | 22 | €249,807 | €239,741 | -€10,066 | -4.0% |
| Current assets | 29/58 | €78,849 | €86,966 | +€8,117 | +10.3% |
| Amounts receivable within one year | 40/41 | €77,061 | €86,611 | +€9,551 | +12.4% |
| Other amounts receivable | 41 | €77,061 | €86,611 | +€9,551 | +12.4% |
| Cash at bank and in hand | 54/58 | €1,789 | €355 | -€1,434 | -80.2% |
| Total equity and liabilities | 10/49 | €328,656 | €326,707 | -€1,949 | -0.6% |
| Equity | 10/15 | €328,656 | €326,707 | -€1,949 | -0.6% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Outside capital | 11 | €30,987 | €30,987 | = | 0.0% |
| Other | 1109/19 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €3,099 | €3,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | €294,571 | €292,622 | -€1,949 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,066 | €10,066 | = | 0.0% |
| Other operating charges | 640/8 | €1,423 | €1,068 | -€355 | -24.9% |
| Gross operating margin | 9900 | -€1,767 | €4,811 | +€6,577 | |
| Operating profit (loss) | 9901 | -€13,256 | -€6,324 | +€6,932 | +52.3% |
| Financial income | 75/76B | €4,900 | €4,435 | -€465 | -9.5% |
| Recurring financial income | 75 | €4,900 | €4,435 | -€465 | -9.5% |
| Financial charges | 65/66B | €59 | €60 | +€2 | +2.6% |
| Recurring financial charges | 65 | €59 | €60 | +€2 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | -€8,414 | -€1,949 | +€6,466 | +76.8% |
| Income taxes | 67/77 | €22,646 | - | -€22,646 | |
| Profit (loss) for the period | 9904 | -€31,060 | -€1,949 | +€29,111 | +93.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,060 | -€1,949 | +€29,111 | +93.7% |
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 2 October 2026 via checked.be.