MACE: what changed
Two fiscal 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.
MACE
Largest movements
- Tangible fixed assets -€43,323
down €43,323 (-30.9%), from €140,259 to €96,935
- Cash +€42,107
up €42,107 (+23.1%), from €182,042 to €224,149
mainly Accrued charges and deferred income (+€167,528) and Depreciation (+€43,323)
- Provisions -€167,739
no longer reported in 2025 (was €167,739)
- Accrued charges and deferred income +€167,528
new in 2025: €167,528
- Reserves +€6,708
up €6,708 (+4.7%), from €141,608 to €148,317
- Current portion of long-term debt -€5,913
no longer reported in 2025 (was €5,913)
- Gross operating margin +€4,273
up €4,273 (+6.6%), from €65,036 to €69,309
- Financial charges +€2,146
up €2,146 (+16.0%), from €13,453 to €15,599
- Depreciation +€817
up €817 (+1.9%), from €42,507 to €43,323
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 | €346,099 | €342,116 | -€3,983 | -1.2% |
| Fixed assets | 21/28 | €140,259 | €96,935 | -€43,323 | -30.9% |
| Tangible fixed assets | 22/27 | €140,259 | €96,935 | -€43,323 | -30.9% |
| Land and buildings | 22 | €89,350 | €67,816 | -€21,535 | -24.1% |
| Plant, machinery and equipment | 23 | €4,915 | €2,800 | -€2,115 | -43.0% |
| Furniture and vehicles | 24 | €45,993 | €26,320 | -€19,673 | -42.8% |
| Current assets | 29/58 | €205,840 | €245,180 | +€39,340 | +19.1% |
| Amounts receivable within one year | 40/41 | €19,357 | €17,656 | -€1,701 | -8.8% |
| Trade receivables | 40 | €18,274 | €15,609 | -€2,665 | -14.6% |
| Other amounts receivable | 41 | €1,083 | €2,047 | +€964 | +89.0% |
| Cash at bank and in hand | 54/58 | €182,042 | €224,149 | +€42,107 | +23.1% |
| Deferred charges and accrued income | 490/1 | €4,441 | €3,375 | -€1,066 | -24.0% |
| Total equity and liabilities | 10/49 | €346,099 | €342,116 | -€3,983 | -1.2% |
| Equity | 10/15 | €160,201 | €166,909 | +€6,708 | +4.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €141,608 | €148,317 | +€6,708 | +4.7% |
| Distributable reserves | 133 | €141,608 | €148,317 | +€6,708 | +4.7% |
| Provisions and deferred taxes | 16 | €167,739 | - | -€167,739 | |
| Provisions for liabilities and charges | 160/5 | €167,739 | - | -€167,739 | |
| Other liabilities and charges | 164/5 | €167,739 | - | -€167,739 | |
| Amounts payable | 17/49 | €18,160 | €175,207 | +€157,047 | +864.8% |
| Amounts payable within one year | 42/48 | €18,160 | €7,679 | -€10,481 | -57.7% |
| Current portion of amounts payable after more than one year | 42 | €5,913 | - | -€5,913 | |
| Financial debts | 43 | - | €1,505 | +€1,505 | |
| Credit institutions | 430/8 | - | €1,505 | +€1,505 | |
| Trade debts | 44 | €2,698 | €32 | -€2,666 | -98.8% |
| Suppliers | 440/4 | €2,698 | €32 | -€2,666 | -98.8% |
| Taxes, remuneration and social security | 45 | €9,549 | €6,142 | -€3,407 | -35.7% |
| Taxes | 450/3 | €9,549 | €6,142 | -€3,407 | -35.7% |
| Accrued charges and deferred income | 492/3 | - | €167,528 | +€167,528 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,507 | €43,323 | +€817 | +1.9% |
| Other operating charges | 640/8 | €1,353 | €1,197 | -€156 | -11.5% |
| Gross operating margin | 9900 | €65,036 | €69,309 | +€4,273 | +6.6% |
| Operating profit (loss) | 9901 | €21,176 | €24,788 | +€3,612 | +17.1% |
| Financial income | 75/76B | €681 | €1,029 | +€348 | +51.1% |
| Recurring financial income | 75 | €681 | €1,029 | +€348 | +51.1% |
| Financial charges | 65/66B | €13,453 | €15,599 | +€2,146 | +16.0% |
| Recurring financial charges | 65 | €13,453 | €15,599 | +€2,146 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | €8,403 | €10,217 | +€1,814 | +21.6% |
| Income taxes | 67/77 | €3,124 | €3,509 | +€385 | +12.3% |
| Profit (loss) for the period | 9904 | €5,279 | €6,708 | +€1,429 | +27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,279 | €6,708 | +€1,429 | +27.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.