MAC PHIL: what changed
MAC PHIL
Largest movements
- Receivables within one year +€20,357
up €20,357 (+65.1%), from €31,247 to €51,604
of which Trade receivables: +€19,970
- Stocks and contracts -€18,321
down €18,321 (-7.1%), from €257,650 to €239,330
- Cash -€5,885
down €5,885 (-7.5%), from €78,773 to €72,888
mainly Net result for the year (-€33,310) and Receivables within one year (-€20,357)
- Profit (loss) carried forward -€33,310
down €33,310 (-26.0%), from €128,074 to €94,765
- Trade debts +€22,544
up €22,544 (+43.4%), from €51,925 to €74,469
- Tax, wage and social debts +€9,066
up €9,066 (+31.6%), from €28,730 to €37,795
of which Taxes: +€9,495
- Other debts -€4,290
down €4,290 (-15.1%), from €28,394 to €24,104
- Financial income +€7,906
up €7,906 (+254%), from €3,106 to €11,012
- Other operating charges +€6,959
up €6,959 (+33.3%), from €20,891 to €27,850
- Staff costs +€5,350
up €5,350 (+6.7%), from €79,579 to €84,928
- Gross operating margin -€2,855
down €2,855 (-3.4%), from €83,108 to €80,253
- Financial charges +€2,097
up €2,097 (+29.4%), from €7,143 to €9,240
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €373,465 | €367,475 | -€5,990 | -1.6% |
| Fixed assets | 21/28 | €5,794 | €3,653 | -€2,141 | -36.9% |
| Tangible fixed assets | 22/27 | €5,794 | €3,653 | -€2,141 | -36.9% |
| Other tangible fixed assets | 26 | €5,794 | €3,653 | -€2,141 | -36.9% |
| Current assets | 29/58 | €367,671 | €363,822 | -€3,849 | -1.0% |
| Stocks and contracts in progress | 3 | €257,650 | €239,330 | -€18,321 | -7.1% |
| Stocks | 30/36 | €257,650 | €239,330 | -€18,321 | -7.1% |
| Amounts receivable within one year | 40/41 | €31,247 | €51,604 | +€20,357 | +65.1% |
| Trade receivables | 40 | €31,177 | €51,148 | +€19,970 | +64.1% |
| Other amounts receivable | 41 | €70 | €456 | +€387 | +556% |
| Cash at bank and in hand | 54/58 | €78,773 | €72,888 | -€5,885 | -7.5% |
| Total equity and liabilities | 10/49 | €373,465 | €367,475 | -€5,990 | -1.6% |
| Equity | 10/15 | €264,416 | €231,106 | -€33,310 | -12.6% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €12,395 | €12,395 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,395 | €12,395 | = | 0.0% |
| Profit (loss) carried forward | 14 | €128,074 | €94,765 | -€33,310 | -26.0% |
| Amounts payable | 17/49 | €109,049 | €136,369 | +€27,320 | +25.1% |
| Amounts payable within one year | 42/48 | €109,049 | €136,369 | +€27,320 | +25.1% |
| Trade debts | 44 | €51,925 | €74,469 | +€22,544 | +43.4% |
| Suppliers | 440/4 | €51,925 | €74,469 | +€22,544 | +43.4% |
| Taxes, remuneration and social security | 45 | €28,730 | €37,795 | +€9,066 | +31.6% |
| Taxes | 450/3 | €20,599 | €30,094 | +€9,495 | +46.1% |
| Remuneration and social security | 454/9 | €8,131 | €7,701 | -€430 | -5.3% |
| Other amounts payable | 47/48 | €28,394 | €24,104 | -€4,290 | -15.1% |
| Remuneration, social security and pensions | 62 | €79,579 | €84,928 | +€5,350 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,063 | €2,141 | +€77 | +3.8% |
| Other operating charges | 640/8 | €20,891 | €27,850 | +€6,959 | +33.3% |
| Gross operating margin | 9900 | €83,108 | €80,253 | -€2,855 | -3.4% |
| Operating profit (loss) | 9901 | -€19,425 | -€34,667 | -€15,241 | -78.5% |
| Financial income | 75/76B | €3,106 | €11,012 | +€7,906 | +254% |
| Recurring financial income | 75 | €3,106 | €11,012 | +€7,906 | +254% |
| Financial charges | 65/66B | €7,143 | €9,240 | +€2,097 | +29.4% |
| Recurring financial charges | 65 | €7,143 | €9,240 | +€2,097 | +29.4% |
| Profit (loss) for the period before taxes | 9903 | -€23,462 | -€32,895 | -€9,433 | -40.2% |
| Income taxes | 67/77 | €76 | €415 | +€339 | +446% |
| Profit (loss) for the period | 9904 | -€23,538 | -€33,310 | -€9,771 | -41.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,538 | -€33,310 | -€9,771 | -41.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.