Mac Investment: 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 Investment
Largest movements
- Current investments +€115,382
up €115,382 (+53.8%), from €214,578 to €329,960
- Deferred charges and accrued income +€26,548
up €26,548 (+39,797%), from €67 to €26,615
- Receivables within one year -€21,096
down €21,096 (-97.8%), from €21,579 to €483
of which Trade receivables: -€20,364
- Tangible fixed assets +€9,629
new in 2025: €9,629
- Cash +€7,472
up €7,472 (+45.0%), from €16,613 to €24,084
mainly Net result for the year (+€120,862) and Receivables within one year (+€21,096)
- Reserves +€120,862
up €120,862 (+50.7%), from €238,429 to €359,290
- Tax, wage and social debts +€16,385
up €16,385 (+118%), from €13,862 to €30,247
of which Taxes: +€15,084
- Financial income +€91,098
up €91,098 (+15,973%), from €570 to €91,668
- Taxes +€21,843
up €21,843 (+107%), from €20,429 to €42,272
- Gross operating margin -€5,602
down €5,602 (-7.0%), from €79,668 to €74,066
- Depreciation +€981
new in 2025: €981
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 | €252,836 | €390,771 | +€137,936 | +54.6% |
| Fixed assets | 21/28 | - | €9,629 | +€9,629 | |
| Tangible fixed assets | 22/27 | - | €9,629 | +€9,629 | |
| Furniture and vehicles | 24 | - | €9,629 | +€9,629 | |
| Current assets | 29/58 | €252,836 | €381,142 | +€128,306 | +50.7% |
| Amounts receivable within one year | 40/41 | €21,579 | €483 | -€21,096 | -97.8% |
| Trade receivables | 40 | €20,764 | €400 | -€20,364 | -98.1% |
| Other amounts receivable | 41 | €815 | €83 | -€732 | -89.8% |
| Current investments | 50/53 | €214,578 | €329,960 | +€115,382 | +53.8% |
| Cash at bank and in hand | 54/58 | €16,613 | €24,084 | +€7,472 | +45.0% |
| Deferred charges and accrued income | 490/1 | €67 | €26,615 | +€26,548 | +39,797% |
| Total equity and liabilities | 10/49 | €252,836 | €390,771 | +€137,936 | +54.6% |
| Equity | 10/15 | €238,429 | €359,290 | +€120,862 | +50.7% |
| Reserves | 13 | €238,429 | €359,290 | +€120,862 | +50.7% |
| Distributable reserves | 133 | €238,429 | €359,290 | +€120,862 | +50.7% |
| Amounts payable | 17/49 | €14,407 | €31,481 | +€17,074 | +119% |
| Amounts payable within one year | 42/48 | €14,407 | €31,481 | +€17,074 | +119% |
| Financial debts | 43 | - | €170 | +€170 | |
| Credit institutions | 430/8 | - | €170 | +€170 | |
| Trade debts | 44 | €546 | €1,065 | +€519 | +95.1% |
| Suppliers | 440/4 | €546 | €1,065 | +€519 | +95.1% |
| Taxes, remuneration and social security | 45 | €13,862 | €30,247 | +€16,385 | +118% |
| Taxes | 450/3 | €13,862 | €28,946 | +€15,084 | +109% |
| Remuneration and social security | 454/9 | - | €1,301 | +€1,301 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €981 | +€981 | |
| Other operating charges | 640/8 | €902 | €524 | -€378 | -41.9% |
| Gross operating margin | 9900 | €79,668 | €74,066 | -€5,602 | -7.0% |
| Operating profit (loss) | 9901 | €78,767 | €72,561 | -€6,205 | -7.9% |
| Financial income | 75/76B | €570 | €91,668 | +€91,098 | +15,973% |
| Recurring financial income | 75 | €570 | €91,668 | +€91,098 | +15,973% |
| Financial charges | 65/66B | €500 | €1,096 | +€596 | +119% |
| Recurring financial charges | 65 | €500 | €1,096 | +€596 | +119% |
| Profit (loss) for the period before taxes | 9903 | €78,837 | €163,134 | +€84,296 | +107% |
| Income taxes | 67/77 | €20,429 | €42,272 | +€21,843 | +107% |
| Profit (loss) for the period | 9904 | €58,408 | €120,862 | +€62,453 | +107% |
| Profit (loss) for the period to be appropriated | 9905 | €58,408 | €120,862 | +€62,453 | +107% |
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 24 October 2026 via checked.be.