MACADAM: 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.
MACADAM
Largest movements
- Cash +€16,167
up €16,167 (+19.7%), from €81,936 to €98,103
mainly Depreciation (+€13,603) and Trade debts (+€6,472)
- Tangible fixed assets -€13,603
down €13,603 (-12.5%), from €109,237 to €95,634
of which Land and buildings: -€10,234
- Receivables within one year +€4,609
up €4,609 (+94.2%), from €4,893 to €9,502
of which Trade receivables: +€5,499
- Trade debts +€6,472
up €6,472 (+72.3%), from €8,948 to €15,420
- Reserves +€5,909
up €5,909 (+6.8%), from €86,622 to €92,531
- Other debts -€3,557
down €3,557 (-4.6%), from €77,542 to €73,985
- Staff costs +€14,146
up €14,146 (+21.8%), from €64,899 to €79,045
- Gross operating margin +€3,231
up €3,231 (+3.1%), from €103,729 to €106,960
- Taxes -€2,352
down €2,352 (-41.9%), from €5,618 to €3,266
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 | €206,771 | €214,923 | +€8,152 | +3.9% |
| Fixed assets | 21/28 | €110,037 | €96,434 | -€13,603 | -12.4% |
| Tangible fixed assets | 22/27 | €109,237 | €95,634 | -€13,603 | -12.5% |
| Land and buildings | 22 | €98,425 | €88,191 | -€10,234 | -10.4% |
| Plant, machinery and equipment | 23 | €573 | €0 | -€573 | -100% |
| Furniture and vehicles | 24 | €10,239 | €7,443 | -€2,797 | -27.3% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €96,734 | €118,490 | +€21,756 | +22.5% |
| Stocks and contracts in progress | 3 | €9,905 | €10,885 | +€980 | +9.9% |
| Stocks | 30/36 | €9,905 | €10,885 | +€980 | +9.9% |
| Amounts receivable within one year | 40/41 | €4,893 | €9,502 | +€4,609 | +94.2% |
| Trade receivables | 40 | €1,369 | €6,868 | +€5,499 | +402% |
| Other amounts receivable | 41 | €3,524 | €2,634 | -€890 | -25.3% |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €81,936 | €98,103 | +€16,167 | +19.7% |
| Total equity and liabilities | 10/49 | €206,771 | €214,923 | +€8,152 | +3.9% |
| Equity | 10/15 | €105,686 | €111,610 | +€5,924 | +5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €86,622 | €92,531 | +€5,909 | +6.8% |
| Distributable reserves | 133 | €86,622 | €92,531 | +€5,909 | +6.8% |
| Profit (loss) carried forward | 14 | €464 | €479 | +€15 | +3.1% |
| Amounts payable | 17/49 | €101,085 | €103,314 | +€2,229 | +2.2% |
| Amounts payable within one year | 42/48 | €101,085 | €103,314 | +€2,229 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | €0 | = | |
| Trade debts | 44 | €8,948 | €15,420 | +€6,472 | +72.3% |
| Suppliers | 440/4 | €8,948 | €15,420 | +€6,472 | +72.3% |
| Taxes, remuneration and social security | 45 | €14,595 | €13,909 | -€686 | -4.7% |
| Taxes | 450/3 | €7,338 | €4,395 | -€2,943 | -40.1% |
| Remuneration and social security | 454/9 | €7,257 | €9,514 | +€2,257 | +31.1% |
| Other amounts payable | 47/48 | €77,542 | €73,985 | -€3,557 | -4.6% |
| Remuneration, social security and pensions | 62 | €64,899 | €79,045 | +€14,146 | +21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,603 | €13,603 | +€0 | 0.0% |
| Other operating charges | 640/8 | €3,187 | €3,269 | +€82 | +2.6% |
| Gross operating margin | 9900 | €103,729 | €106,960 | +€3,231 | +3.1% |
| Operating profit (loss) | 9901 | €22,040 | €11,042 | -€10,998 | -49.9% |
| Financial income | 75/76B | €44 | €294 | +€250 | +569% |
| Recurring financial income | 75 | €44 | €294 | +€250 | +569% |
| Financial charges | 65/66B | €1,704 | €2,147 | +€442 | +26.0% |
| Recurring financial charges | 65 | €1,704 | €2,147 | +€442 | +26.0% |
| Profit (loss) for the period before taxes | 9903 | €20,380 | €9,190 | -€11,190 | -54.9% |
| Income taxes | 67/77 | €5,618 | €3,266 | -€2,352 | -41.9% |
| Profit (loss) for the period | 9904 | €14,762 | €5,924 | -€8,838 | -59.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,762 | €5,924 | -€8,838 | -59.9% |
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 25 October 2026 via checked.be.