MAC GUFF BELGIUM: 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.
MAC GUFF BELGIUM
Largest movements
- Cash +€82,305
up €82,305 (+294%), from €27,954 to €110,259
mainly Other debts (+€217,478) and Depreciation (+€32,083)
- Tangible fixed assets -€26,973
down €26,973 (-45.8%), from €58,897 to €31,924
of which Furniture and vehicles: -€25,773
- Deferred charges and accrued income -€6,850
down €6,850 (-53.9%), from €12,707 to €5,856
- Other debts +€217,478
up €217,478 (+32.6%), from €666,764 to €884,241
- Tax, wage and social debts -€110,866
down €110,866 (-62.8%), from €176,517 to €65,651
of which Remuneration and social security: -€105,497
- Profit (loss) carried forward -€52,843
down €52,843 (-8.3%), from -€636,694 to -€689,537
- Trade debts -€5,123
down €5,123 (-13.2%), from €38,851 to €33,727
- Staff costs -€478,737
down €478,737 (-55.6%), from €861,016 to €382,279
- Gross operating margin -€116,065
down €116,065 (-22.6%), from €513,980 to €397,915
- Financial charges +€17,977
up €17,977 (+97.1%), from €18,506 to €36,483
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 | €278,998 | €327,643 | +€48,645 | +17.4% |
| Fixed assets | 21/28 | €70,611 | €43,638 | -€26,973 | -38.2% |
| Tangible fixed assets | 22/27 | €58,897 | €31,924 | -€26,973 | -45.8% |
| Plant, machinery and equipment | 23 | €5,302 | €3,625 | -€1,678 | -31.6% |
| Furniture and vehicles | 24 | €43,102 | €17,329 | -€25,773 | -59.8% |
| Other tangible fixed assets | 26 | €10,492 | €10,970 | +€479 | +4.6% |
| Financial fixed assets | 28 | €11,714 | €11,714 | = | 0.0% |
| Current assets | 29/58 | €208,387 | €284,005 | +€75,617 | +36.3% |
| Amounts receivable within one year | 40/41 | €167,727 | €167,889 | +€163 | +0.1% |
| Trade receivables | 40 | €162,637 | €162,800 | +€163 | +0.1% |
| Other amounts receivable | 41 | €5,089 | €5,089 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €27,954 | €110,259 | +€82,305 | +294% |
| Deferred charges and accrued income | 490/1 | €12,707 | €5,856 | -€6,850 | -53.9% |
| Total equity and liabilities | 10/49 | €278,998 | €327,643 | +€48,645 | +17.4% |
| Equity | 10/15 | -€603,134 | -€655,977 | -€52,843 | -8.8% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €25,500 | €25,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €25,500 | €25,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€636,694 | -€689,537 | -€52,843 | -8.3% |
| Amounts payable | 17/49 | €882,132 | €983,620 | +€101,488 | +11.5% |
| Amounts payable within one year | 42/48 | €882,132 | €983,620 | +€101,488 | +11.5% |
| Trade debts | 44 | €38,851 | €33,727 | -€5,123 | -13.2% |
| Suppliers | 440/4 | €38,851 | €33,727 | -€5,123 | -13.2% |
| Taxes, remuneration and social security | 45 | €176,517 | €65,651 | -€110,866 | -62.8% |
| Taxes | 450/3 | €20,237 | €14,867 | -€5,370 | -26.5% |
| Remuneration and social security | 454/9 | €156,281 | €50,784 | -€105,497 | -67.5% |
| Other amounts payable | 47/48 | €666,764 | €884,241 | +€217,478 | +32.6% |
| Non-recurring operating income | 76A | - | €7,096 | +€7,096 | |
| Remuneration, social security and pensions | 62 | €861,016 | €382,279 | -€478,737 | -55.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,756 | €32,083 | -€1,672 | -5.0% |
| Other operating charges | 640/8 | €387 | €0 | -€387 | -100% |
| Non-recurring operating charges | 66A | €27,400 | €0 | -€27,400 | -100% |
| Gross operating margin | 9900 | €513,980 | €397,915 | -€116,065 | -22.6% |
| Operating profit (loss) | 9901 | -€408,579 | -€16,447 | +€392,132 | +96.0% |
| Financial income | 75/76B | - | €87 | +€87 | |
| Recurring financial income | 75 | - | €87 | +€87 | |
| Financial charges | 65/66B | €18,506 | €36,483 | +€17,977 | +97.1% |
| Recurring financial charges | 65 | €18,506 | €36,483 | +€17,977 | +97.1% |
| Profit (loss) for the period before taxes | 9903 | -€427,085 | -€52,843 | +€374,242 | +87.6% |
| Profit (loss) for the period | 9904 | -€427,085 | -€52,843 | +€374,242 | +87.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€427,085 | -€52,843 | +€374,242 | +87.6% |
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 25 October 2026 via checked.be.