MACCO: 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.
MACCO
Largest movements
- Financial fixed assets +€65,080
up €65,080 (+130%), from €50,158 to €115,238
- Cash -€36,413
down €36,413 (-14.5%), from €250,440 to €214,027
mainly Investment in fixed assets (net) (-€65,080) and Other debts (-€1,167)
- Accrued charges and deferred income +€15,910
new in 2025: €15,910
- Profit (loss) carried forward +€6,955
up €6,955 (+2.3%), from €308,094 to €315,049
- Gross operating margin +€19,430
up €19,430, from -€10,921 to €8,509
- Financial income -€3,921
down €3,921 (-42.9%), from €9,142 to €5,221
- Other operating charges -€3,650
down €3,650 (-50.1%), from €7,285 to €3,635
- Depreciation +€351
up €351 (+15.3%), from €2,303 to €2,654
- Financial charges +€283
up €283 (+140%), from €202 to €486
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 | €314,028 | €338,029 | +€24,001 | +7.6% |
| Fixed assets | 21/28 | €60,404 | €122,830 | +€62,426 | +103% |
| Tangible fixed assets | 22/27 | €10,247 | €7,593 | -€2,654 | -25.9% |
| Furniture and vehicles | 24 | €10,247 | €7,593 | -€2,654 | -25.9% |
| Financial fixed assets | 28 | €50,158 | €115,238 | +€65,080 | +130% |
| Current assets | 29/58 | €253,624 | €215,199 | -€38,425 | -15.2% |
| Amounts receivable within one year | 40/41 | €2,834 | €881 | -€1,953 | -68.9% |
| Other amounts receivable | 41 | €2,834 | €881 | -€1,953 | -68.9% |
| Cash at bank and in hand | 54/58 | €250,440 | €214,027 | -€36,413 | -14.5% |
| Deferred charges and accrued income | 490/1 | €350 | €291 | -€59 | -16.7% |
| Total equity and liabilities | 10/49 | €314,028 | €338,029 | +€24,001 | +7.6% |
| Equity | 10/15 | €311,094 | €318,049 | +€6,955 | +2.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €308,094 | €315,049 | +€6,955 | +2.3% |
| Amounts payable | 17/49 | €2,934 | €19,980 | +€17,046 | +581% |
| Amounts payable within one year | 42/48 | €2,934 | €4,070 | +€1,136 | +38.7% |
| Trade debts | 44 | €324 | €592 | +€268 | +82.7% |
| Suppliers | 440/4 | €324 | €592 | +€268 | +82.7% |
| Taxes, remuneration and social security | 45 | - | €2,035 | +€2,035 | |
| Taxes | 450/3 | - | €2,035 | +€2,035 | |
| Other amounts payable | 47/48 | €2,610 | €1,443 | -€1,167 | -44.7% |
| Accrued charges and deferred income | 492/3 | - | €15,910 | +€15,910 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,303 | €2,654 | +€351 | +15.3% |
| Other operating charges | 640/8 | €7,285 | €3,635 | -€3,650 | -50.1% |
| Gross operating margin | 9900 | -€10,921 | €8,509 | +€19,430 | |
| Operating profit (loss) | 9901 | -€20,508 | €2,220 | +€22,728 | |
| Financial income | 75/76B | €9,142 | €5,221 | -€3,921 | -42.9% |
| Recurring financial income | 75 | €9,142 | €5,221 | -€3,921 | -42.9% |
| Financial charges | 65/66B | €202 | €486 | +€283 | +140% |
| Recurring financial charges | 65 | €202 | €486 | +€283 | +140% |
| Profit (loss) for the period before taxes | 9903 | -€11,569 | €6,955 | +€18,524 | |
| Profit (loss) for the period | 9904 | -€11,569 | €6,955 | +€18,524 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,569 | €6,955 | +€18,524 |
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 29 October 2026 via checked.be.