MACagency: 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.
MACagency
Largest movements
- Cash -€39,969
down €39,969 (-77.6%), from €51,503 to €11,534
mainly Debts after one year (-€101,880) and Investment in fixed assets (net) (-€38,820)
- Debts after one year -€101,880
down €101,880 (-10.6%), from €961,015 to €859,135
of which Financial debts: -€101,880
- Profit (loss) carried forward +€25,799
up €25,799 (+3.2%), from €813,429 to €839,228
- Write-downs -€167,426
no longer reported in 2025 (was €167,426)
- Gross operating margin +€24,304
up €24,304 (+21.3%), from €114,153 to €138,456
- Financial charges -€7,533
down €7,533 (-14.3%), from €52,714 to €45,181
- Other operating charges -€1,772
down €1,772 (-13.3%), from €13,315 to €11,543
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 | €1,939,065 | €1,878,054 | -€61,011 | -3.1% |
| Fixed assets | 21/28 | €1,881,460 | €1,864,346 | -€17,114 | -0.9% |
| Tangible fixed assets | 22/27 | €1,881,460 | €1,864,346 | -€17,114 | -0.9% |
| Land and buildings | 22 | €1,764,901 | €1,753,768 | -€11,133 | -0.6% |
| Plant, machinery and equipment | 23 | €1,149 | €478 | -€671 | -58.4% |
| Furniture and vehicles | 24 | €20,710 | €15,400 | -€5,310 | -25.6% |
| Other tangible fixed assets | 26 | €94,700 | €94,700 | = | 0.0% |
| Current assets | 29/58 | €57,605 | €13,708 | -€43,897 | -76.2% |
| Amounts receivable within one year | 40/41 | €4,094 | - | -€4,094 | |
| Trade receivables | 40 | €4,094 | - | -€4,094 | |
| Cash at bank and in hand | 54/58 | €51,503 | €11,534 | -€39,969 | -77.6% |
| Deferred charges and accrued income | 490/1 | €2,008 | €2,174 | +€166 | +8.3% |
| Total equity and liabilities | 10/49 | €1,939,065 | €1,878,054 | -€61,011 | -3.1% |
| Equity | 10/15 | €819,629 | €845,428 | +€25,799 | +3.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €813,429 | €839,228 | +€25,799 | +3.2% |
| Amounts payable | 17/49 | €1,119,437 | €1,032,626 | -€86,811 | -7.8% |
| Amounts payable after more than one year | 17 | €961,015 | €859,135 | -€101,880 | -10.6% |
| Financial debts | 170/4 | €959,484 | €857,604 | -€101,880 | -10.6% |
| Other amounts payable | 178/9 | €1,530 | €1,530 | = | 0.0% |
| Amounts payable within one year | 42/48 | €157,442 | €171,221 | +€13,779 | +8.8% |
| Current portion of amounts payable after more than one year | 42 | €97,750 | €101,881 | +€4,131 | +4.2% |
| Trade debts | 44 | €3,492 | €5,762 | +€2,269 | +65.0% |
| Suppliers | 440/4 | €3,492 | €5,762 | +€2,269 | +65.0% |
| Other amounts payable | 47/48 | €56,200 | €63,579 | +€7,379 | +13.1% |
| Accrued charges and deferred income | 492/3 | €980 | €2,270 | +€1,290 | +131.6% |
| Remuneration, social security and pensions | 62 | €1,154 | - | -€1,154 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,346 | €55,934 | +€588 | +1.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €167,426 | - | -€167,426 | |
| Other operating charges | 640/8 | €13,315 | €11,543 | -€1,772 | -13.3% |
| Gross operating margin | 9900 | €114,153 | €138,456 | +€24,304 | +21.3% |
| Operating profit (loss) | 9901 | -€123,088 | €70,980 | +€194,068 | |
| Financial income | 75/76B | €1 | €1 | +€0 | +12.5% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +12.5% |
| Financial charges | 65/66B | €52,714 | €45,181 | -€7,533 | -14.3% |
| Recurring financial charges | 65 | €52,714 | €45,181 | -€7,533 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | -€175,802 | €25,800 | +€201,601 | |
| Income taxes | 67/77 | €0 | €0 | +€0 | +11.8% |
| Profit (loss) for the period | 9904 | -€175,802 | €25,799 | +€201,601 | |
| Profit (loss) for the period to be appropriated | 9905 | -€175,802 | €25,799 | +€201,601 |
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 9 October 2026 via checked.be.