MACA-venture: 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-venture
Largest movements
- Receivables after one year -€44,458
down €44,458 (-88.9%), from €50,000 to €5,542
- Cash +€23,080
up €23,080 (+21.2%), from €108,792 to €131,872
mainly Receivables after one year (+€44,458) and Net result for the year (+€16,215)
- Receivables within one year +€3,274
up €3,274 (+19.2%), from €17,079 to €20,353
of which Trade receivables: +€5,114
- Deferred charges and accrued income -€2,404
down €2,404 (-100.0%), from €2,404 to €0
- Other debts -€51,399
down €51,399 (-86.7%), from €59,265 to €7,866
- Reserves +€16,215
up €16,215 (+13.7%), from €118,256 to €134,471
- Trade debts +€8,219
new in 2025: €8,219
- Tax, wage and social debts +€5,360
up €5,360 (+13638.3%), from €39 to €5,399
- Gross operating margin -€39,638
down €39,638 (-60.7%), from €65,326 to €25,688
- Taxes -€7,640
down €7,640 (-58.6%), from €13,039 to €5,399
- Depreciation -€1,851
down €1,851 (-54.1%), from €3,422 to €1,571
- Financial charges -€689
down €689 (-30.1%), from €2,292 to €1,603
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 | €180,438 | €158,840 | -€21,598 | -12.0% |
| Fixed assets | 21/28 | €2,163 | €1,074 | -€1,089 | -50.4% |
| Tangible fixed assets | 22/27 | €2,163 | €1,074 | -€1,089 | -50.4% |
| Furniture and vehicles | 24 | €2,163 | €1,074 | -€1,089 | -50.4% |
| Current assets | 29/58 | €178,275 | €157,766 | -€20,509 | -11.5% |
| Amounts receivable after more than one year | 29 | €50,000 | €5,542 | -€44,458 | -88.9% |
| Other amounts receivable | 291 | €50,000 | €5,542 | -€44,458 | -88.9% |
| Amounts receivable within one year | 40/41 | €17,079 | €20,353 | +€3,274 | +19.2% |
| Trade receivables | 40 | €12,856 | €17,971 | +€5,114 | +39.8% |
| Other amounts receivable | 41 | €4,223 | €2,382 | -€1,841 | -43.6% |
| Cash at bank and in hand | 54/58 | €108,792 | €131,872 | +€23,080 | +21.2% |
| Deferred charges and accrued income | 490/1 | €2,404 | €0 | -€2,404 | -100.0% |
| Total equity and liabilities | 10/49 | €180,438 | €158,840 | -€21,598 | -12.0% |
| Equity | 10/15 | €120,256 | €136,471 | +€16,215 | +13.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €118,256 | €134,471 | +€16,215 | +13.7% |
| Distributable reserves | 133 | €118,256 | €134,471 | +€16,215 | +13.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €60,182 | €22,369 | -€37,813 | -62.8% |
| Amounts payable within one year | 42/48 | €59,332 | €21,484 | -€37,848 | -63.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €27 | €0 | -€27 | -100.0% |
| Credit institutions | 430/8 | €27 | €0 | -€27 | -100.0% |
| Trade debts | 44 | - | €8,219 | +€8,219 | |
| Suppliers | 440/4 | - | €8,219 | +€8,219 | |
| Taxes, remuneration and social security | 45 | €39 | €5,399 | +€5,360 | +13638.3% |
| Taxes | 450/3 | €39 | €5,399 | +€5,360 | +13638.3% |
| Other amounts payable | 47/48 | €59,265 | €7,866 | -€51,399 | -86.7% |
| Accrued charges and deferred income | 492/3 | €850 | €885 | +€35 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,422 | €1,571 | -€1,851 | -54.1% |
| Other operating charges | 640/8 | €331 | €948 | +€617 | +186.5% |
| Gross operating margin | 9900 | €65,326 | €25,688 | -€39,638 | -60.7% |
| Operating profit (loss) | 9901 | €61,573 | €23,168 | -€38,405 | -62.4% |
| Financial income | 75/76B | €0 | €49 | +€49 | |
| Recurring financial income | 75 | €0 | €49 | +€49 | |
| Financial charges | 65/66B | €2,292 | €1,603 | -€689 | -30.1% |
| Recurring financial charges | 65 | €2,292 | €1,603 | -€689 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €59,281 | €21,614 | -€37,667 | -63.5% |
| Income taxes | 67/77 | €13,039 | €5,399 | -€7,640 | -58.6% |
| Profit (loss) for the period | 9904 | €46,242 | €16,215 | -€30,027 | -64.9% |
| Profit (loss) for the period to be appropriated | 9905 | €46,242 | €16,215 | -€30,027 | -64.9% |
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 8 October 2026 via checked.be.