MAC-B: 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-B
Largest movements
- Cash +€122,625
up €122,625 (+68.2%), from €179,704 to €302,329
mainly Other debts (+€206,669) and Net result for the year (+€146,756)
- Receivables after one year -€73,400
no longer reported in 2025 (was €73,400)
- Receivables within one year +€29,207
up €29,207 (+263.6%), from €11,082 to €40,289
of which Trade receivables: +€33,945
- Tangible fixed assets -€14,413
down €14,413 (-25.6%), from €56,272 to €41,859
of which Other tangible fixed assets: -€12,012
- Stocks and contracts -€4,409
down €4,409 (-60.6%), from €7,278 to €2,869
- Other debts +€206,669
up €206,669 (+227.1%), from €91,000 to €297,669
- Reserves -€148,244
down €148,244 (-98.2%), from €150,927 to €2,683
- Tax, wage and social debts +€8,020
up €8,020 (+21.2%), from €37,843 to €45,863
of which Remuneration and social security: +€7,777
- Debts after one year -€5,791
down €5,791 (-30.1%), from €19,226 to €13,435
- Gross operating margin +€70,617
up €70,617 (+22.7%), from €311,290 to €381,907
- Staff costs +€29,938
up €29,938 (+18.0%), from €166,693 to €196,631
- Taxes -€8,888
down €8,888 (-96.6%), from €9,202 to €314
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 | €331,143 | €389,192 | +€58,049 | +17.5% |
| Fixed assets | 21/28 | €57,372 | €41,859 | -€15,513 | -27.0% |
| Tangible fixed assets | 22/27 | €56,272 | €41,859 | -€14,413 | -25.6% |
| Plant, machinery and equipment | 23 | €5,418 | €5,064 | -€354 | -6.5% |
| Furniture and vehicles | 24 | €3,778 | €1,731 | -€2,047 | -54.2% |
| Other tangible fixed assets | 26 | €47,076 | €35,064 | -€12,012 | -25.5% |
| Financial fixed assets | 28 | €1,100 | - | -€1,100 | |
| Current assets | 29/58 | €273,771 | €347,333 | +€73,562 | +26.9% |
| Amounts receivable after more than one year | 29 | €73,400 | - | -€73,400 | |
| Other amounts receivable | 291 | €73,400 | - | -€73,400 | |
| Stocks and contracts in progress | 3 | €7,278 | €2,869 | -€4,409 | -60.6% |
| Stocks | 30/36 | €7,278 | €2,869 | -€4,409 | -60.6% |
| Amounts receivable within one year | 40/41 | €11,082 | €40,289 | +€29,207 | +263.6% |
| Trade receivables | 40 | - | €33,945 | +€33,945 | |
| Other amounts receivable | 41 | €11,082 | €6,344 | -€4,738 | -42.8% |
| Cash at bank and in hand | 54/58 | €179,704 | €302,329 | +€122,625 | +68.2% |
| Deferred charges and accrued income | 490/1 | €2,307 | €1,846 | -€461 | -20.0% |
| Total equity and liabilities | 10/49 | €331,143 | €389,192 | +€58,049 | +17.5% |
| Equity | 10/15 | €169,527 | €21,283 | -€148,244 | -87.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €150,927 | €2,683 | -€148,244 | -98.2% |
| Distributable reserves | 133 | €150,927 | €2,683 | -€148,244 | -98.2% |
| Amounts payable | 17/49 | €161,616 | €367,909 | +€206,293 | +127.6% |
| Amounts payable after more than one year | 17 | €19,226 | €13,435 | -€5,791 | -30.1% |
| Financial debts | 170/4 | €19,226 | €13,435 | -€5,791 | -30.1% |
| Amounts payable within one year | 42/48 | €139,815 | €352,071 | +€212,256 | +151.8% |
| Current portion of amounts payable after more than one year | 42 | €5,684 | €5,791 | +€107 | +1.9% |
| Trade debts | 44 | €5,288 | €2,748 | -€2,540 | -48.0% |
| Suppliers | 440/4 | €5,288 | €2,748 | -€2,540 | -48.0% |
| Taxes, remuneration and social security | 45 | €37,843 | €45,863 | +€8,020 | +21.2% |
| Taxes | 450/3 | €19,839 | €20,082 | +€243 | +1.2% |
| Remuneration and social security | 454/9 | €18,004 | €25,781 | +€7,777 | +43.2% |
| Other amounts payable | 47/48 | €91,000 | €297,669 | +€206,669 | +227.1% |
| Accrued charges and deferred income | 492/3 | €2,575 | €2,403 | -€172 | -6.7% |
| Remuneration, social security and pensions | 62 | €166,693 | €196,631 | +€29,938 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,244 | €14,031 | -€213 | -1.5% |
| Other operating charges | 640/8 | €2,914 | €3,486 | +€572 | +19.6% |
| Non-recurring operating charges | 66A | - | €15,025 | +€15,025 | |
| Gross operating margin | 9900 | €311,290 | €381,907 | +€70,617 | +22.7% |
| Operating profit (loss) | 9901 | €127,439 | €152,734 | +€25,295 | +19.8% |
| Financial income | 75/76B | €167 | €3 | -€164 | -98.2% |
| Recurring financial income | 75 | €167 | €3 | -€164 | -98.2% |
| Financial charges | 65/66B | €5,051 | €5,667 | +€616 | +12.2% |
| Recurring financial charges | 65 | €5,051 | €5,667 | +€616 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €122,555 | €147,070 | +€24,515 | +20.0% |
| Income taxes | 67/77 | €9,202 | €314 | -€8,888 | -96.6% |
| Profit (loss) for the period | 9904 | €113,353 | €146,756 | +€33,403 | +29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €113,353 | €146,756 | +€33,403 | +29.5% |
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 8 October 2026 via checked.be.