MACA INVEST: 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.
MACA INVEST
Largest movements
- Cash -€169,796
down €169,796 (-60.8%), from €279,149 to €109,354
mainly Debts after one year (-€317,088) and Investment in fixed assets (net) (-€233,376)
- Debts after one year -€317,088
down €317,088 (-7.6%), from €4.2m to €3.8m
- Reserves +€208,484
up €208,484 (+15.7%), from €1.3m to €1.5m
of which Distributable reserves: +€224,396
- Other debts -€197,580
down €197,580 (-68.5%), from €288,370 to €90,790
- Current portion of long-term debt +€167,208
up €167,208 (+47.9%), from €349,152 to €516,360
- Depreciation -€150,825
down €150,825 (-45.7%), from €330,123 to €179,298
- Financial charges +€64,106
up €64,106 (+88.2%), from €72,664 to €136,769
- Taxes -€45,487
down €45,487 (-49.2%), from €92,518 to €47,031
- Gross operating margin +€32,603
up €32,603 (+6.8%), from €477,487 to €510,090
- Other operating charges +€25,066
up €25,066 (+126%), from €19,933 to €45,000
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 | €7,594,756 | €7,487,282 | -€107,474 | -1.4% |
| Fixed assets | 21/28 | €5,842,673 | €5,896,751 | +€54,078 | +0.9% |
| Tangible fixed assets | 22/27 | €3,572,496 | €3,626,574 | +€54,078 | +1.5% |
| Land and buildings | 22 | €3,500,138 | €3,358,651 | -€141,487 | -4.0% |
| Plant, machinery and equipment | 23 | €50,902 | €203,398 | +€152,497 | +300% |
| Furniture and vehicles | 24 | €21,456 | €64,524 | +€43,069 | +201% |
| Financial fixed assets | 28 | €2,270,178 | €2,270,178 | = | 0.0% |
| Current assets | 29/58 | €1,752,082 | €1,590,530 | -€161,552 | -9.2% |
| Stocks and contracts in progress | 3 | €265,117 | €265,117 | = | 0.0% |
| Stocks | 30/36 | €265,117 | €265,117 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €641,013 | €649,257 | +€8,244 | +1.3% |
| Trade receivables | 40 | €34,993 | €43,237 | +€8,244 | +23.6% |
| Other amounts receivable | 41 | €606,020 | €606,020 | = | 0.0% |
| Current investments | 50/53 | €566,803 | €566,803 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €279,149 | €109,354 | -€169,796 | -60.8% |
| Total equity and liabilities | 10/49 | €7,594,756 | €7,487,282 | -€107,474 | -1.4% |
| Equity | 10/15 | €2,506,553 | €2,715,037 | +€208,484 | +8.3% |
| 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 | €1,329,783 | €1,538,266 | +€208,484 | +15.7% |
| Non-distributable reserves | 130/1 | €16,250 | €16,250 | = | 0.0% |
| Legal reserve | 130 | €16,250 | €16,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €727,933 | €712,021 | -€15,912 | -2.2% |
| Distributable reserves | 133 | €585,599 | €809,995 | +€224,396 | +38.3% |
| Profit (loss) carried forward | 14 | €1,114,771 | €1,114,771 | = | 0.0% |
| Provisions and deferred taxes | 16 | €288,521 | €282,227 | -€6,295 | -2.2% |
| Deferred taxes | 168 | €288,521 | €282,227 | -€6,295 | -2.2% |
| Amounts payable | 17/49 | €4,799,681 | €4,490,018 | -€309,663 | -6.5% |
| Amounts payable after more than one year | 17 | €4,151,018 | €3,833,930 | -€317,088 | -7.6% |
| Financial debts | 170/4 | €4,151,018 | €3,833,930 | -€317,088 | -7.6% |
| Amounts payable within one year | 42/48 | €648,663 | €656,088 | +€7,425 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €349,152 | €516,360 | +€167,208 | +47.9% |
| Trade debts | 44 | €7,251 | €25,395 | +€18,144 | +250% |
| Suppliers | 440/4 | €7,251 | €25,395 | +€18,144 | +250% |
| Taxes, remuneration and social security | 45 | €3,890 | €23,543 | +€19,653 | +505% |
| Taxes | 450/3 | €3,890 | €23,543 | +€19,653 | +505% |
| Other amounts payable | 47/48 | €288,370 | €90,790 | -€197,580 | -68.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €330,123 | €179,298 | -€150,825 | -45.7% |
| Other operating charges | 640/8 | €19,933 | €45,000 | +€25,066 | +126% |
| Gross operating margin | 9900 | €477,487 | €510,090 | +€32,603 | +6.8% |
| Operating profit (loss) | 9901 | €127,430 | €285,792 | +€158,361 | +124% |
| Financial income | 75/76B | €98,879 | €100,198 | +€1,319 | +1.3% |
| Recurring financial income | 75 | €98,879 | €100,198 | +€1,319 | +1.3% |
| Financial charges | 65/66B | €72,664 | €136,769 | +€64,106 | +88.2% |
| Recurring financial charges | 65 | €72,664 | €136,769 | +€64,106 | +88.2% |
| Profit (loss) for the period before taxes | 9903 | €153,645 | €249,220 | +€95,575 | +62.2% |
| Transfer from deferred taxes | 780 | €6,295 | €6,295 | = | 0.0% |
| Income taxes | 67/77 | €92,518 | €47,031 | -€45,487 | -49.2% |
| Profit (loss) for the period | 9904 | €67,422 | €208,484 | +€141,062 | +209% |
| Transfer from tax-exempt reserves | 789 | €15,912 | €15,912 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €83,334 | €224,396 | +€141,062 | +169% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.