MAC 3: 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 3
Largest movements
- Cash +€13,371
up €13,371 (+65.4%), from €20,447 to €33,817
mainly Depreciation (+€11,831) and Net result for the year (+€7,948)
- Tangible fixed assets -€9,482
down €9,482 (-2.6%), from €361,672 to €352,190
- Profit (loss) carried forward +€10,644
up €10,644 (+25.2%), from -€42,286 to -€31,642
- Other debts +€5,138
new in 2025: €5,138
- Debts after one year -€3,907
down €3,907 (-2.1%), from €186,950 to €183,043
of which Financial debts: -€5,000
- Financial charges +€7,401
up €7,401 (+12017.1%), from €62 to €7,463
- Gross operating margin +€5,239
up €5,239 (+22.0%), from €23,813 to €29,052
- Depreciation +€426
up €426 (+3.7%), from €11,405 to €11,831
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 | €382,119 | €389,829 | +€7,710 | +2.0% |
| Fixed assets | 21/28 | €361,672 | €352,190 | -€9,482 | -2.6% |
| Tangible fixed assets | 22/27 | €361,672 | €352,190 | -€9,482 | -2.6% |
| Land and buildings | 22 | €361,672 | €352,190 | -€9,482 | -2.6% |
| Current assets | 29/58 | €20,447 | €37,639 | +€17,193 | +84.1% |
| Amounts receivable within one year | 40/41 | - | €3,630 | +€3,630 | |
| Trade receivables | 40 | - | €3,630 | +€3,630 | |
| Cash at bank and in hand | 54/58 | €20,447 | €33,817 | +€13,371 | +65.4% |
| Deferred charges and accrued income | 490/1 | - | €192 | +€192 | |
| Total equity and liabilities | 10/49 | €382,119 | €389,829 | +€7,710 | +2.0% |
| Equity | 10/15 | €163,144 | €171,092 | +€7,948 | +4.9% |
| Contributions | 10/11 | €121,468 | €121,468 | = | 0.0% |
| Capital | 10 | €121,468 | €121,468 | = | 0.0% |
| Issued capital | 100 | €121,468 | €121,468 | = | 0.0% |
| Reserves | 13 | €83,961 | €81,265 | -€2,696 | -3.2% |
| Tax-exempt reserves | 132 | €83,961 | €81,265 | -€2,696 | -3.2% |
| Profit (loss) carried forward | 14 | -€42,286 | -€31,642 | +€10,644 | +25.2% |
| Provisions and deferred taxes | 16 | €27,987 | €27,089 | -€899 | -3.2% |
| Deferred taxes | 168 | €27,987 | €27,089 | -€899 | -3.2% |
| Amounts payable | 17/49 | €190,988 | €191,649 | +€661 | +0.3% |
| Amounts payable after more than one year | 17 | €186,950 | €183,043 | -€3,907 | -2.1% |
| Financial debts | 170/4 | €185,600 | €180,600 | -€5,000 | -2.7% |
| Other amounts payable | 178/9 | €1,350 | €2,443 | +€1,093 | +81.0% |
| Amounts payable within one year | 42/48 | €3,323 | €8,058 | +€4,735 | +142.5% |
| Trade debts | 44 | €2,000 | €0 | -€2,000 | -100.0% |
| Suppliers | 440/4 | €2,000 | €0 | -€2,000 | -100.0% |
| Taxes, remuneration and social security | 45 | €1,323 | €2,919 | +€1,596 | +120.6% |
| Taxes | 450/3 | €1,323 | €2,919 | +€1,596 | +120.6% |
| Other amounts payable | 47/48 | - | €5,138 | +€5,138 | |
| Accrued charges and deferred income | 492/3 | €715 | €548 | -€167 | -23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,405 | €11,831 | +€426 | +3.7% |
| Other operating charges | 640/8 | €2,627 | €2,709 | +€82 | +3.1% |
| Gross operating margin | 9900 | €23,813 | €29,052 | +€5,239 | +22.0% |
| Operating profit (loss) | 9901 | €9,781 | €14,512 | +€4,731 | +48.4% |
| Financial charges | 65/66B | €62 | €7,463 | +€7,401 | +12017.1% |
| Recurring financial charges | 65 | €62 | €7,463 | +€7,401 | +12017.1% |
| Profit (loss) for the period before taxes | 9903 | €9,719 | €7,049 | -€2,670 | -27.5% |
| Transfer from deferred taxes | 780 | €899 | €899 | = | 0.0% |
| Profit (loss) for the period | 9904 | €10,618 | €7,948 | -€2,670 | -25.1% |
| Transfer from tax-exempt reserves | 789 | €2,696 | €2,696 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,314 | €10,644 | -€2,670 | -20.1% |
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 7 October 2026 via checked.be.