MACE: 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.
MACE
Largest movements
- Cash +€72,036
up €72,036 (+40.3%), from €178,592 to €250,628
mainly Net result for the year (+€58,351) and Tax, wage and social debts (+€9,971)
- Receivables within one year -€3,487
down €3,487 (-9.2%), from €37,847 to €34,361
of which Other amounts receivable: -€3,560
- Reserves +€58,351
up €58,351 (+29.9%), from €195,143 to €253,494
- Tax, wage and social debts +€9,971
new in 2025: €9,971
- Gross operating margin +€13,862
up €13,862 (+21.2%), from €65,282 to €79,144
- Taxes +€6,986
up €6,986 (+52.9%), from €13,212 to €20,198
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 | €216,440 | €284,989 | +€68,549 | +31.7% |
| Current assets | 29/58 | €216,440 | €284,989 | +€68,549 | +31.7% |
| Amounts receivable within one year | 40/41 | €37,847 | €34,361 | -€3,487 | -9.2% |
| Trade receivables | 40 | €27,494 | €27,567 | +€73 | +0.3% |
| Other amounts receivable | 41 | €10,354 | €6,794 | -€3,560 | -34.4% |
| Cash at bank and in hand | 54/58 | €178,592 | €250,628 | +€72,036 | +40.3% |
| Total equity and liabilities | 10/49 | €216,440 | €284,989 | +€68,549 | +31.7% |
| Equity | 10/15 | €197,643 | €255,994 | +€58,351 | +29.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €195,143 | €253,494 | +€58,351 | +29.9% |
| Distributable reserves | 133 | €195,143 | €253,494 | +€58,351 | +29.9% |
| Amounts payable | 17/49 | €18,796 | €28,995 | +€10,199 | +54.3% |
| Amounts payable within one year | 42/48 | €18,796 | €28,595 | +€9,799 | +52.1% |
| Trade debts | 44 | - | €57 | +€57 | |
| Suppliers | 440/4 | - | €57 | +€57 | |
| Taxes, remuneration and social security | 45 | - | €9,971 | +€9,971 | |
| Taxes | 450/3 | - | €9,971 | +€9,971 | |
| Other amounts payable | 47/48 | €18,796 | €18,568 | -€229 | -1.2% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €534 | €0 | -€534 | -100% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €65,282 | €79,144 | +€13,862 | +21.2% |
| Operating profit (loss) | 9901 | €64,243 | €78,624 | +€14,381 | +22.4% |
| Financial charges | 65/66B | €362 | €75 | -€287 | -79.3% |
| Recurring financial charges | 65 | €362 | €75 | -€287 | -79.3% |
| Profit (loss) for the period before taxes | 9903 | €63,881 | €78,549 | +€14,668 | +23.0% |
| Income taxes | 67/77 | €13,212 | €20,198 | +€6,986 | +52.9% |
| Profit (loss) for the period | 9904 | €50,669 | €58,351 | +€7,682 | +15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €50,669 | €58,351 | +€7,682 | +15.2% |
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 13 October 2026 via checked.be.