MACA: 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.
MACA
Largest movements
- Tangible fixed assets -€51,294
down €51,294 (-5.4%), from €954,096 to €902,802
of which Land and buildings: -€68,704
- Cash +€46,047
up €46,047 (+665.9%), from €6,915 to €52,962
mainly Other debts (+€206,884) and Depreciation (+€68,836)
- Other debts +€206,884
up €206,884 (+38.7%), from €534,572 to €741,456
- Debts after one year -€173,509
down €173,509 (-44.7%), from €388,509 to €215,000
- Profit (loss) carried forward -€20,368
down €20,368 (-14.4%), from -€141,165 to -€161,533
- Financial charges -€10,028
down €10,028 (-41.9%), from €23,929 to €13,901
- Depreciation +€6,058
up €6,058 (+9.6%), from €62,778 to €68,836
- Other operating charges -€3,568
down €3,568 (-47.8%), from €7,466 to €3,898
- Gross operating margin +€2,913
up €2,913 (+5.1%), from €56,891 to €59,804
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 | €980,220 | €974,179 | -€6,041 | -0.6% |
| Fixed assets | 21/28 | €954,096 | €902,802 | -€51,294 | -5.4% |
| Tangible fixed assets | 22/27 | €954,096 | €902,802 | -€51,294 | -5.4% |
| Land and buildings | 22 | €954,096 | €885,391 | -€68,704 | -7.2% |
| Plant, machinery and equipment | 23 | - | €17,410 | +€17,410 | |
| Current assets | 29/58 | €26,124 | €71,377 | +€45,253 | +173.2% |
| Amounts receivable within one year | 40/41 | €0 | €126 | +€126 | |
| Trade receivables | 40 | - | €126 | +€126 | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €6,915 | €52,962 | +€46,047 | +665.9% |
| Deferred charges and accrued income | 490/1 | €19,210 | €18,290 | -€919 | -4.8% |
| Total equity and liabilities | 10/49 | €980,220 | €974,179 | -€6,041 | -0.6% |
| Equity | 10/15 | €15,515 | -€9,701 | -€25,215 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €94,679 | €89,832 | -€4,847 | -5.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €87,119 | €82,272 | -€4,847 | -5.6% |
| Distributable reserves | 133 | €1,360 | €1,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€141,165 | -€161,533 | -€20,368 | -14.4% |
| Provisions and deferred taxes | 16 | €29,040 | €27,424 | -€1,616 | -5.6% |
| Deferred taxes | 168 | €29,040 | €27,424 | -€1,616 | -5.6% |
| Amounts payable | 17/49 | €935,666 | €956,456 | +€20,790 | +2.2% |
| Amounts payable after more than one year | 17 | €388,509 | €215,000 | -€173,509 | -44.7% |
| Financial debts | 170/4 | €388,509 | €215,000 | -€173,509 | -44.7% |
| Amounts payable within one year | 42/48 | €547,157 | €741,456 | +€194,299 | +35.5% |
| Current portion of amounts payable after more than one year | 42 | €7,851 | €0 | -€7,851 | -100.0% |
| Trade debts | 44 | €4,734 | €0 | -€4,734 | -100.0% |
| Suppliers | 440/4 | €4,734 | €0 | -€4,734 | -100.0% |
| Other amounts payable | 47/48 | €534,572 | €741,456 | +€206,884 | +38.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,778 | €68,836 | +€6,058 | +9.6% |
| Other operating charges | 640/8 | €7,466 | €3,898 | -€3,568 | -47.8% |
| Gross operating margin | 9900 | €56,891 | €59,804 | +€2,913 | +5.1% |
| Operating profit (loss) | 9901 | -€13,354 | -€12,930 | +€424 | +3.2% |
| Financial income | 75/76B | €539 | €0 | -€539 | -100.0% |
| Recurring financial income | 75 | €539 | €0 | -€539 | -100.0% |
| Financial charges | 65/66B | €23,929 | €13,901 | -€10,028 | -41.9% |
| Recurring financial charges | 65 | €23,929 | €13,901 | -€10,028 | -41.9% |
| Profit (loss) for the period before taxes | 9903 | -€36,744 | -€26,831 | +€9,913 | +27.0% |
| Transfer from deferred taxes | 780 | €1,616 | €1,616 | = | 0.0% |
| Income taxes | 67/77 | €0 | €0 | -€0 | -100.0% |
| Profit (loss) for the period | 9904 | -€35,128 | -€25,215 | +€9,913 | +28.2% |
| Transfer from tax-exempt reserves | 789 | €4,847 | €4,847 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,280 | -€20,368 | +€9,913 | +32.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.