Macas: 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.
Macas
Largest movements
- Receivables within one year +€7,130
up €7,130 (+48.1%), from €14,808 to €21,937
of which Trade receivables: +€10,537
- Cash -€5,544
down €5,544 (-84.9%), from €6,528 to €984
mainly Investment in fixed assets (net) (-€12,632) and Receivables within one year (-€7,130)
- Deferred charges and accrued income +€1,533
up €1,533 (+171%), from €897 to €2,431
- Trade debts +€6,784
up €6,784 (+48.3%), from €14,041 to €20,825
- Accrued charges and deferred income -€5,076
no longer reported in 2025 (was €5,076)
- Tax, wage and social debts -€2,270
down €2,270 (-38.1%), from €5,957 to €3,687
- Profit (loss) carried forward +€2,200
up €2,200 (+13.0%), from €16,880 to €19,080
- Other debts +€1,109
up €1,109 (+94.3%), from €1,176 to €2,285
- Gross operating margin -€11,433
down €11,433 (-36.1%), from €31,675 to €20,242
- Depreciation +€4,441
up €4,441 (+51.9%), from €8,563 to €13,004
- Taxes -€2,954
down €2,954 (-51.8%), from €5,700 to €2,746
- Other operating charges +€1,744
up €1,744 (+398%), from €439 to €2,183
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 | €46,130 | €48,877 | +€2,747 | +6.0% |
| Fixed assets | 21/28 | €23,896 | €23,525 | -€371 | -1.6% |
| Tangible fixed assets | 22/27 | €23,896 | €23,525 | -€371 | -1.6% |
| Plant, machinery and equipment | 23 | - | €2,867 | +€2,867 | |
| Furniture and vehicles | 24 | €23,896 | €20,658 | -€3,239 | -13.6% |
| Current assets | 29/58 | €22,233 | €25,352 | +€3,119 | +14.0% |
| Amounts receivable within one year | 40/41 | €14,808 | €21,937 | +€7,130 | +48.1% |
| Trade receivables | 40 | €11,400 | €21,937 | +€10,537 | +92.4% |
| Other amounts receivable | 41 | €3,408 | - | -€3,408 | |
| Cash at bank and in hand | 54/58 | €6,528 | €984 | -€5,544 | -84.9% |
| Deferred charges and accrued income | 490/1 | €897 | €2,431 | +€1,533 | +171% |
| Total equity and liabilities | 10/49 | €46,130 | €48,877 | +€2,747 | +6.0% |
| Equity | 10/15 | €19,880 | €22,080 | +€2,200 | +11.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,880 | €19,080 | +€2,200 | +13.0% |
| Amounts payable | 17/49 | €26,250 | €26,797 | +€547 | +2.1% |
| Amounts payable within one year | 42/48 | €21,174 | €26,797 | +€5,623 | +26.6% |
| Trade debts | 44 | €14,041 | €20,825 | +€6,784 | +48.3% |
| Suppliers | 440/4 | €14,041 | €20,825 | +€6,784 | +48.3% |
| Taxes, remuneration and social security | 45 | €5,957 | €3,687 | -€2,270 | -38.1% |
| Taxes | 450/3 | €5,957 | €3,687 | -€2,270 | -38.1% |
| Other amounts payable | 47/48 | €1,176 | €2,285 | +€1,109 | +94.3% |
| Accrued charges and deferred income | 492/3 | €5,076 | - | -€5,076 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,563 | €13,004 | +€4,441 | +51.9% |
| Other operating charges | 640/8 | €439 | €2,183 | +€1,744 | +398% |
| Gross operating margin | 9900 | €31,675 | €20,242 | -€11,433 | -36.1% |
| Operating profit (loss) | 9901 | €22,674 | €5,056 | -€17,619 | -77.7% |
| Financial charges | 65/66B | €95 | €110 | +€15 | +16.3% |
| Recurring financial charges | 65 | €95 | €110 | +€15 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €22,580 | €4,946 | -€17,634 | -78.1% |
| Income taxes | 67/77 | €5,700 | €2,746 | -€2,954 | -51.8% |
| Profit (loss) for the period | 9904 | €16,880 | €2,200 | -€14,679 | -87.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,880 | €2,200 | -€14,679 | -87.0% |
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 17 October 2026 via checked.be.