Macadoh: 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.
Macadoh
Largest movements
- Receivables within one year +€30,261
up €30,261 (+134.0%), from €22,578 to €52,839
of which Trade receivables: +€39,932
- Tangible fixed assets -€21,901
down €21,901 (-48.6%), from €45,059 to €23,158
- Cash -€19,534
down €19,534 (-64.1%), from €30,495 to €10,961
mainly Receivables within one year (-€30,261) and Other debts (-€17,433)
- Stocks and contracts +€5,000
up €5,000 (+200.0%), from €2,500 to €7,500
- Other debts -€17,433
down €17,433 (-42.7%), from €40,849 to €23,416
- Trade debts +€13,725
up €13,725 (+476.2%), from €2,882 to €16,607
- Tax, wage and social debts -€4,489
down €4,489 (-49.0%), from €9,169 to €4,680
of which Taxes: -€6,316
- Profit (loss) carried forward +€2,022
up €2,022 (+4938.9%), from €41 to €2,063
- Staff costs +€22,422
up €22,422 (+54.8%), from €40,928 to €63,350
- Gross operating margin -€20,734
down €20,734 (-19.4%), from €106,831 to €86,097
- Taxes -€5,726
down €5,726 (-87.0%), from €6,580 to €854
- Financial income +€1,277
up €1,277 (+1824771.4%), from €0 to €1,277
- Depreciation -€1,154
down €1,154 (-6.7%), from €17,197 to €16,043
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 | €102,941 | €96,767 | -€6,174 | -6.0% |
| Fixed assets | 21/28 | €45,059 | €23,158 | -€21,901 | -48.6% |
| Tangible fixed assets | 22/27 | €45,059 | €23,158 | -€21,901 | -48.6% |
| Plant, machinery and equipment | 23 | €45,059 | €23,158 | -€21,901 | -48.6% |
| Current assets | 29/58 | €57,882 | €73,609 | +€15,727 | +27.2% |
| Stocks and contracts in progress | 3 | €2,500 | €7,500 | +€5,000 | +200.0% |
| Stocks | 30/36 | €2,500 | €7,500 | +€5,000 | +200.0% |
| Amounts receivable within one year | 40/41 | €22,578 | €52,839 | +€30,261 | +134.0% |
| Trade receivables | 40 | €87 | €40,019 | +€39,932 | +46110.8% |
| Other amounts receivable | 41 | €22,491 | €12,820 | -€9,671 | -43.0% |
| Cash at bank and in hand | 54/58 | €30,495 | €10,961 | -€19,534 | -64.1% |
| Deferred charges and accrued income | 490/1 | €2,309 | €2,309 | = | 0.0% |
| Total equity and liabilities | 10/49 | €102,941 | €96,767 | -€6,174 | -6.0% |
| Equity | 10/15 | €50,041 | €52,063 | +€2,022 | +4.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41 | €2,063 | +€2,022 | +4938.9% |
| Amounts payable | 17/49 | €52,900 | €44,704 | -€8,197 | -15.5% |
| Amounts payable within one year | 42/48 | €52,900 | €44,704 | -€8,197 | -15.5% |
| Trade debts | 44 | €2,882 | €16,607 | +€13,725 | +476.2% |
| Suppliers | 440/4 | €2,882 | €16,607 | +€13,725 | +476.2% |
| Taxes, remuneration and social security | 45 | €9,169 | €4,680 | -€4,489 | -49.0% |
| Taxes | 450/3 | €6,687 | €371 | -€6,316 | -94.5% |
| Remuneration and social security | 454/9 | €2,482 | €4,309 | +€1,827 | +73.6% |
| Other amounts payable | 47/48 | €40,849 | €23,416 | -€17,433 | -42.7% |
| Non-recurring operating income | 76A | €500 | €0 | -€500 | -100.0% |
| Remuneration, social security and pensions | 62 | €40,928 | €63,350 | +€22,422 | +54.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,197 | €16,043 | -€1,154 | -6.7% |
| Other operating charges | 640/8 | €3,194 | €3,020 | -€174 | -5.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €106,831 | €86,097 | -€20,734 | -19.4% |
| Operating profit (loss) | 9901 | €45,512 | €3,684 | -€41,828 | -91.9% |
| Financial income | 75/76B | €0 | €1,277 | +€1,277 | +1824771.4% |
| Recurring financial income | 75 | €0 | €1,277 | +€1,277 | +1824771.4% |
| Financial charges | 65/66B | €2,192 | €2,085 | -€107 | -4.9% |
| Recurring financial charges | 65 | €2,192 | €2,085 | -€107 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €43,320 | €2,876 | -€40,444 | -93.4% |
| Income taxes | 67/77 | €6,580 | €854 | -€5,726 | -87.0% |
| Profit (loss) for the period | 9904 | €36,740 | €2,022 | -€34,718 | -94.5% |
| Profit (loss) for the period to be appropriated | 9905 | €36,740 | €2,022 | -€34,718 | -94.5% |
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 10 October 2026 via checked.be.