MACA-EAU: 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-EAU
Largest movements
- Tangible fixed assets -€28,044
down €28,044 (-17.5%), from €160,256 to €132,212
of which Land and buildings: -€18,976
- Current investments +€12,209
up €12,209 (+43.5%), from €28,066 to €40,275
- Receivables within one year -€3,054
down €3,054 (-15.8%), from €19,306 to €16,252
of which Trade receivables: -€3,924
- Cash +€2,234
up €2,234 (+42.0%), from €5,316 to €7,550
mainly Depreciation (+€31,452) and Other debts (+€17,957)
- Deferred charges and accrued income +€2,165
up €2,165 (+138.0%), from €1,569 to €3,734
- Reserves -€30,294
down €30,294 (-55.2%), from €54,881 to €24,587
of which Distributable reserves: -€30,294
- Other debts +€17,957
up €17,957 (+18.7%), from €96,101 to €114,058
- Debts after one year -€3,332
down €3,332 (-49.2%), from €6,771 to €3,439
- Gross operating margin +€5,516
up €5,516 (+10.4%), from €52,987 to €58,504
- Taxes +€1,939
up €1,939 (+43.4%), from €4,466 to €6,404
- Financial income -€1,637
down €1,637 (-88.7%), from €1,846 to €209
- Other operating charges -€966
down €966 (-16.4%), from €5,883 to €4,917
- Financial charges +€755
up €755 (+31.0%), from €2,433 to €3,188
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 | €214,552 | €200,062 | -€14,490 | -6.8% |
| Fixed assets | 21/28 | €160,296 | €132,252 | -€28,044 | -17.5% |
| Tangible fixed assets | 22/27 | €160,256 | €132,212 | -€28,044 | -17.5% |
| Land and buildings | 22 | €94,878 | €75,903 | -€18,976 | -20.0% |
| Plant, machinery and equipment | 23 | €64,991 | €56,310 | -€8,681 | -13.4% |
| Furniture and vehicles | 24 | €387 | - | -€387 | |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €54,256 | €67,810 | +€13,554 | +25.0% |
| Amounts receivable within one year | 40/41 | €19,306 | €16,252 | -€3,054 | -15.8% |
| Trade receivables | 40 | €16,879 | €12,954 | -€3,924 | -23.3% |
| Other amounts receivable | 41 | €2,427 | €3,298 | +€871 | +35.9% |
| Current investments | 50/53 | €28,066 | €40,275 | +€12,209 | +43.5% |
| Cash at bank and in hand | 54/58 | €5,316 | €7,550 | +€2,234 | +42.0% |
| Deferred charges and accrued income | 490/1 | €1,569 | €3,734 | +€2,165 | +138.0% |
| Total equity and liabilities | 10/49 | €214,552 | €200,062 | -€14,490 | -6.8% |
| Equity | 10/15 | €97,277 | €66,983 | -€30,294 | -31.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €54,881 | €24,587 | -€30,294 | -55.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €53,022 | €22,728 | -€30,294 | -57.1% |
| Profit (loss) carried forward | 14 | €36,195 | €36,195 | = | 0.0% |
| Amounts payable | 17/49 | €117,275 | €133,079 | +€15,804 | +13.5% |
| Amounts payable after more than one year | 17 | €6,771 | €3,439 | -€3,332 | -49.2% |
| Financial debts | 170/4 | €6,771 | €3,439 | -€3,332 | -49.2% |
| Amounts payable within one year | 42/48 | €110,504 | €129,248 | +€18,744 | +17.0% |
| Current portion of amounts payable after more than one year | 42 | €5,404 | €3,332 | -€2,072 | -38.3% |
| Financial debts | 43 | €2,596 | €3,222 | +€626 | +24.1% |
| Credit institutions | 430/8 | €2,596 | €3,222 | +€626 | +24.1% |
| Trade debts | 44 | €1,983 | €2,713 | +€730 | +36.8% |
| Suppliers | 440/4 | €1,983 | €2,713 | +€730 | +36.8% |
| Taxes, remuneration and social security | 45 | €4,419 | €5,923 | +€1,504 | +34.0% |
| Taxes | 450/3 | €4,419 | €5,923 | +€1,504 | +34.0% |
| Other amounts payable | 47/48 | €96,101 | €114,058 | +€17,957 | +18.7% |
| Accrued charges and deferred income | 492/3 | - | €392 | +€392 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,075 | €31,452 | -€623 | -1.9% |
| Other operating charges | 640/8 | €5,883 | €4,917 | -€966 | -16.4% |
| Gross operating margin | 9900 | €52,987 | €58,504 | +€5,516 | +10.4% |
| Operating profit (loss) | 9901 | €15,030 | €22,134 | +€7,105 | +47.3% |
| Financial income | 75/76B | €1,846 | €209 | -€1,637 | -88.7% |
| Recurring financial income | 75 | €1,846 | €209 | -€1,637 | -88.7% |
| Financial charges | 65/66B | €2,433 | €3,188 | +€755 | +31.0% |
| Recurring financial charges | 65 | €2,433 | €3,188 | +€755 | +31.0% |
| Profit (loss) for the period before taxes | 9903 | €14,442 | €19,156 | +€4,713 | +32.6% |
| Income taxes | 67/77 | €4,466 | €6,404 | +€1,939 | +43.4% |
| Profit (loss) for the period | 9904 | €9,977 | €12,751 | +€2,775 | +27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,977 | €12,751 | +€2,775 | +27.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.