MACCO CONSTRUCTION: 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 CONSTRUCTION
Largest movements
- Cash +€8,631
up €8,631 (+7.5%), from €114,455 to €123,086
mainly Other debts (+€100,741) and Depreciation (+€35,359)
- Stocks and contracts +€8,570
up €8,570 (+117%), from €7,340 to €15,910
- Receivables within one year -€7,150
down €7,150 (-39.3%), from €18,184 to €11,034
of which Trade receivables: -€14,201
- Deferred charges and accrued income +€6,945
up €6,945 (+1,309%), from €531 to €7,476
- Tangible fixed assets +€5,141
up €5,141 (+4.5%), from €113,443 to €118,584
of which Plant, machinery and equipment: +€26,795
- Other debts +€100,741
up €100,741 (+327%), from €30,783 to €131,524
- Profit (loss) carried forward -€82,307
down €82,307 (-64.1%), from €128,349 to €46,042
- Debts after one year -€10,994
down €10,994 (-28.5%), from €38,526 to €27,533
- Trade debts +€9,972
up €9,972 (+194%), from €5,135 to €15,107
- Investment grants +€4,537
new in 2025: €4,537
- Gross operating margin +€15,136
up €15,136 (+14.5%), from €104,126 to €119,262
- Depreciation +€10,271
up €10,271 (+40.9%), from €25,088 to €35,359
- Taxes +€1,588
up €1,588 (+70.6%), from €2,247 to €3,835
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 | €254,268 | €276,405 | +€22,137 | +8.7% |
| Fixed assets | 21/28 | €113,758 | €118,899 | +€5,141 | +4.5% |
| Tangible fixed assets | 22/27 | €113,443 | €118,584 | +€5,141 | +4.5% |
| Plant, machinery and equipment | 23 | €17,709 | €44,504 | +€26,795 | +151% |
| Furniture and vehicles | 24 | €93,866 | €72,603 | -€21,262 | -22.7% |
| Other tangible fixed assets | 26 | €1,868 | €1,476 | -€392 | -21.0% |
| Financial fixed assets | 28 | €315 | €315 | = | 0.0% |
| Current assets | 29/58 | €140,510 | €157,506 | +€16,996 | +12.1% |
| Stocks and contracts in progress | 3 | €7,340 | €15,910 | +€8,570 | +117% |
| Contracts in progress | 37 | €7,340 | €15,910 | +€8,570 | +117% |
| Amounts receivable within one year | 40/41 | €18,184 | €11,034 | -€7,150 | -39.3% |
| Trade receivables | 40 | €17,890 | €3,689 | -€14,201 | -79.4% |
| Other amounts receivable | 41 | €294 | €7,345 | +€7,051 | +2,397% |
| Cash at bank and in hand | 54/58 | €114,455 | €123,086 | +€8,631 | +7.5% |
| Deferred charges and accrued income | 490/1 | €531 | €7,476 | +€6,945 | +1,309% |
| Total equity and liabilities | 10/49 | €254,268 | €276,405 | +€22,137 | +8.7% |
| Equity | 10/15 | €148,809 | €71,039 | -€77,770 | -52.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €128,349 | €46,042 | -€82,307 | -64.1% |
| Investment grants | 15 | - | €4,537 | +€4,537 | |
| Amounts payable | 17/49 | €105,459 | €205,366 | +€99,907 | +94.7% |
| Amounts payable after more than one year | 17 | €38,526 | €27,533 | -€10,994 | -28.5% |
| Financial debts | 170/4 | €38,526 | €27,533 | -€10,994 | -28.5% |
| Amounts payable within one year | 42/48 | €66,773 | €177,749 | +€110,977 | +166% |
| Current portion of amounts payable after more than one year | 42 | €24,848 | €25,118 | +€270 | +1.1% |
| Trade debts | 44 | €5,135 | €15,107 | +€9,972 | +194% |
| Suppliers | 440/4 | €5,135 | €15,107 | +€9,972 | +194% |
| Taxes, remuneration and social security | 45 | €6,007 | €6,000 | -€7 | -0.1% |
| Taxes | 450/3 | €2,202 | €2,597 | +€395 | +17.9% |
| Remuneration and social security | 454/9 | €3,805 | €3,403 | -€402 | -10.6% |
| Other amounts payable | 47/48 | €30,783 | €131,524 | +€100,741 | +327% |
| Accrued charges and deferred income | 492/3 | €159 | €84 | -€76 | -47.4% |
| Remuneration, social security and pensions | 62 | €59,804 | €59,377 | -€426 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,088 | €35,359 | +€10,271 | +40.9% |
| Other operating charges | 640/8 | €823 | €706 | -€117 | -14.2% |
| Gross operating margin | 9900 | €104,126 | €119,262 | +€15,136 | +14.5% |
| Operating profit (loss) | 9901 | €18,412 | €23,820 | +€5,408 | +29.4% |
| Financial income | 75/76B | €2,411 | €2,492 | +€81 | +3.4% |
| Recurring financial income | 75 | €2,411 | €2,492 | +€81 | +3.4% |
| Financial charges | 65/66B | €3,809 | €4,784 | +€975 | +25.6% |
| Recurring financial charges | 65 | €3,809 | €4,784 | +€975 | +25.6% |
| Profit (loss) for the period before taxes | 9903 | €17,013 | €21,527 | +€4,514 | +26.5% |
| Income taxes | 67/77 | €2,247 | €3,835 | +€1,588 | +70.6% |
| Profit (loss) for the period | 9904 | €14,766 | €17,693 | +€2,927 | +19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,766 | €17,693 | +€2,927 | +19.8% |
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 30 October 2026 via checked.be.