MAC-POL: 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-POL
Largest movements
- Receivables within one year +€107,188
up €107,188 (+276%), from €38,825 to €146,013
of which Trade receivables: +€103,402
- Tangible fixed assets +€6,867
up €6,867 (+1,856%), from €370 to €7,237
of which Furniture and vehicles: +€6,342
- Deferred charges and accrued income -€5,657
down €5,657 (-30.1%), from €18,770 to €13,113
- Cash +€3,971
up €3,971 (+46.6%), from €8,518 to €12,489
mainly Trade debts (+€104,777) and Other debts (+€8,386)
- Trade debts +€104,777
up €104,777 (+319%), from €32,806 to €137,583
- Other debts +€8,386
new in 2025: €8,386
- Tax, wage and social debts -€4,138
down €4,138 (-63.4%), from €6,529 to €2,391
of which Taxes: -€4,438
- Profit (loss) carried forward +€3,381
up €3,381 (+13.4%), from €25,152 to €28,533
- Depreciation -€2,371
down €2,371 (-73.8%), from €3,212 to €841
- Gross operating margin -€609
down €609 (-8.4%), from €7,283 to €6,674
- Taxes +€457
up €457 (+55.9%), from €817 to €1,274
- Other operating charges +€406
up €406 (+93.8%), from €433 to €838
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 | €67,524 | €179,893 | +€112,369 | +166% |
| Fixed assets | 21/28 | €1,412 | €8,279 | +€6,867 | +486% |
| Tangible fixed assets | 22/27 | €370 | €7,237 | +€6,867 | +1,856% |
| Plant, machinery and equipment | 23 | €370 | €895 | +€525 | +142% |
| Furniture and vehicles | 24 | - | €6,342 | +€6,342 | |
| Financial fixed assets | 28 | €1,042 | €1,042 | = | 0.0% |
| Current assets | 29/58 | €66,113 | €171,615 | +€105,502 | +160% |
| Amounts receivable within one year | 40/41 | €38,825 | €146,013 | +€107,188 | +276% |
| Trade receivables | 40 | €37,968 | €141,371 | +€103,402 | +272% |
| Other amounts receivable | 41 | €856 | €4,642 | +€3,786 | +442% |
| Cash at bank and in hand | 54/58 | €8,518 | €12,489 | +€3,971 | +46.6% |
| Deferred charges and accrued income | 490/1 | €18,770 | €13,113 | -€5,657 | -30.1% |
| Total equity and liabilities | 10/49 | €67,524 | €179,893 | +€112,369 | +166% |
| Equity | 10/15 | €28,152 | €31,533 | +€3,381 | +12.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,152 | €28,533 | +€3,381 | +13.4% |
| Amounts payable | 17/49 | €39,372 | €148,360 | +€108,988 | +277% |
| Amounts payable within one year | 42/48 | €39,335 | €148,360 | +€109,025 | +277% |
| Trade debts | 44 | €32,806 | €137,583 | +€104,777 | +319% |
| Suppliers | 440/4 | €32,806 | €137,583 | +€104,777 | +319% |
| Taxes, remuneration and social security | 45 | €6,529 | €2,391 | -€4,138 | -63.4% |
| Taxes | 450/3 | €6,529 | €2,091 | -€4,438 | -68.0% |
| Remuneration and social security | 454/9 | - | €300 | +€300 | |
| Other amounts payable | 47/48 | - | €8,386 | +€8,386 | |
| Accrued charges and deferred income | 492/3 | €37 | - | -€37 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,212 | €841 | -€2,371 | -73.8% |
| Other operating charges | 640/8 | €433 | €838 | +€406 | +93.8% |
| Gross operating margin | 9900 | €7,283 | €6,674 | -€609 | -8.4% |
| Operating profit (loss) | 9901 | €3,638 | €4,995 | +€1,356 | +37.3% |
| Financial income | 75/76B | €13 | €10 | -€3 | -20.4% |
| Recurring financial income | 75 | €13 | €10 | -€3 | -20.4% |
| Financial charges | 65/66B | €295 | €350 | +€54 | +18.4% |
| Recurring financial charges | 65 | €295 | €350 | +€54 | +18.4% |
| Profit (loss) for the period before taxes | 9903 | €3,356 | €4,655 | +€1,299 | +38.7% |
| Income taxes | 67/77 | €817 | €1,274 | +€457 | +55.9% |
| Profit (loss) for the period | 9904 | €2,538 | €3,381 | +€843 | +33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,538 | €3,381 | +€843 | +33.2% |
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 26 October 2026 via checked.be.