MACARO: 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.
MACARO
Largest movements
- Cash +€54,487
up €54,487 (+13.4%), from €407,773 to €462,260
mainly Net result for the year (+€45,597) and Tax, wage and social debts (+€10,900)
- Reserves +€45,597
up €45,597 (+7.9%), from €577,297 to €622,894
- Tax, wage and social debts +€10,900
up €10,900 (+68.4%), from €15,929 to €26,829
- Gross operating margin +€36,071
up €36,071 (+84.4%), from €42,730 to €78,801
- Taxes +€11,590
up €11,590 (+87.9%), from €13,191 to €24,781
- Financial charges -€9,793
down €9,793 (-97.1%), from €10,090 to €297
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 | €604,214 | €658,561 | +€54,347 | +9.0% |
| Fixed assets | 21/28 | €13,178 | €7,510 | -€5,668 | -43.0% |
| Tangible fixed assets | 22/27 | €11,163 | €5,495 | -€5,668 | -50.8% |
| Furniture and vehicles | 24 | €11,163 | €5,495 | -€5,668 | -50.8% |
| Financial fixed assets | 28 | €2,015 | €2,015 | = | 0.0% |
| Current assets | 29/58 | €591,036 | €651,050 | +€60,015 | +10.2% |
| Amounts receivable within one year | 40/41 | €180,658 | €186,757 | +€6,099 | +3.4% |
| Trade receivables | 40 | €20,504 | €12,523 | -€7,981 | -38.9% |
| Other amounts receivable | 41 | €160,153 | €174,233 | +€14,080 | +8.8% |
| Cash at bank and in hand | 54/58 | €407,773 | €462,260 | +€54,487 | +13.4% |
| Deferred charges and accrued income | 490/1 | €2,605 | €2,033 | -€571 | -21.9% |
| Total equity and liabilities | 10/49 | €604,214 | €658,561 | +€54,347 | +9.0% |
| Equity | 10/15 | €584,297 | €629,894 | +€45,597 | +7.8% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €577,297 | €622,894 | +€45,597 | +7.9% |
| Distributable reserves | 133 | €577,297 | €622,894 | +€45,597 | +7.9% |
| Amounts payable | 17/49 | €19,917 | €28,667 | +€8,750 | +43.9% |
| Amounts payable within one year | 42/48 | €19,917 | €28,667 | +€8,750 | +43.9% |
| Trade debts | 44 | €3,988 | €1,838 | -€2,150 | -53.9% |
| Suppliers | 440/4 | €3,988 | €1,838 | -€2,150 | -53.9% |
| Taxes, remuneration and social security | 45 | €15,929 | €26,829 | +€10,900 | +68.4% |
| Taxes | 450/3 | €15,929 | €26,829 | +€10,900 | +68.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,668 | €5,668 | = | 0.0% |
| Other operating charges | 640/8 | €2,693 | €2,458 | -€236 | -8.7% |
| Gross operating margin | 9900 | €42,730 | €78,801 | +€36,071 | +84.4% |
| Operating profit (loss) | 9901 | €34,368 | €70,675 | +€36,307 | +106% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €10,090 | €297 | -€9,793 | -97.1% |
| Recurring financial charges | 65 | €10,090 | €297 | -€9,793 | -97.1% |
| Profit (loss) for the period before taxes | 9903 | €24,279 | €70,378 | +€46,099 | +190% |
| Income taxes | 67/77 | €13,191 | €24,781 | +€11,590 | +87.9% |
| Profit (loss) for the period | 9904 | €11,088 | €45,597 | +€34,509 | +311% |
| Profit (loss) for the period to be appropriated | 9905 | €11,088 | €45,597 | +€34,509 | +311% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.