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
- Current investments -€446,748
down €446,748 (-15.9%), from €2.8m to €2.4m
- Receivables within one year +€300,073
up €300,073 (+46.3%), from €648,172 to €948,245
of which Other amounts receivable: +€314,466
- Cash +€77,526
up €77,526 (+1,756%), from €4,414 to €81,939
mainly Current investments (+€446,748) and Depreciation (+€7,646)
No liability line moved by more than 1% of the balance sheet total.
- Financial income +€59,464
up €59,464 (+113%), from €52,821 to €112,285
- Gross operating margin -€14,385
down €14,385, from €7,113 to -€7,272
- Taxes +€5,124
up €5,124 (+63.2%), from €8,107 to €13,231
- Depreciation +€1,801
up €1,801 (+30.8%), from €5,845 to €7,646
- Other operating charges -€1,133
down €1,133 (-82.6%), from €1,371 to €239
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 | €3,527,649 | €3,496,921 | -€30,728 | -0.9% |
| Fixed assets | 21/28 | €42,924 | €54,742 | +€11,819 | +27.5% |
| Tangible fixed assets | 22/27 | €42,924 | €54,742 | +€11,819 | +27.5% |
| Plant, machinery and equipment | 23 | €1,507 | €1,128 | -€380 | -25.2% |
| Furniture and vehicles | 24 | €41,416 | €53,615 | +€12,198 | +29.5% |
| Current assets | 29/58 | €3,484,725 | €3,442,179 | -€42,547 | -1.2% |
| Amounts receivable within one year | 40/41 | €648,172 | €948,245 | +€300,073 | +46.3% |
| Trade receivables | 40 | €14,520 | €127 | -€14,393 | -99.1% |
| Other amounts receivable | 41 | €633,652 | €948,118 | +€314,466 | +49.6% |
| Current investments | 50/53 | €2,817,898 | €2,371,150 | -€446,748 | -15.9% |
| Cash at bank and in hand | 54/58 | €4,414 | €81,939 | +€77,526 | +1,756% |
| Deferred charges and accrued income | 490/1 | €14,242 | €40,844 | +€26,602 | +187% |
| Total equity and liabilities | 10/49 | €3,527,649 | €3,496,921 | -€30,728 | -0.9% |
| Equity | 10/15 | €3,481,899 | €3,487,474 | +€5,575 | +0.2% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €3,481,399 | €3,486,974 | +€5,575 | +0.2% |
| Non-distributable reserves | 130/1 | €12,570 | €12,570 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,570 | €12,570 | = | 0.0% |
| Distributable reserves | 133 | €3,468,829 | €3,474,404 | +€5,575 | +0.2% |
| Amounts payable | 17/49 | €45,749 | €9,447 | -€36,303 | -79.4% |
| Amounts payable within one year | 42/48 | €45,749 | €9,447 | -€36,303 | -79.4% |
| Current portion of amounts payable after more than one year | 42 | €24,228 | €0 | -€24,228 | -100% |
| Trade debts | 44 | €18,669 | €4,358 | -€14,310 | -76.7% |
| Suppliers | 440/4 | €18,669 | €4,358 | -€14,310 | -76.7% |
| Taxes, remuneration and social security | 45 | €2,853 | €5,063 | +€2,210 | +77.5% |
| Taxes | 450/3 | €2,853 | €5,063 | +€2,210 | +77.5% |
| Other amounts payable | 47/48 | €0 | €25 | +€25 | |
| Non-recurring operating income | 76A | €10,000 | €0 | -€10,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,845 | €7,646 | +€1,801 | +30.8% |
| Other operating charges | 640/8 | €1,371 | €239 | -€1,133 | -82.6% |
| Non-recurring operating charges | 66A | - | €55,000 | +€55,000 | |
| Gross operating margin | 9900 | €7,113 | -€7,272 | -€14,385 | |
| Operating profit (loss) | 9901 | -€103 | -€70,156 | -€70,053 | -67,967% |
| Financial income | 75/76B | €52,821 | €112,285 | +€59,464 | +113% |
| Recurring financial income | 75 | €52,821 | €112,285 | +€59,464 | +113% |
| Financial charges | 65/66B | €22,241 | €23,323 | +€1,082 | +4.9% |
| Recurring financial charges | 65 | €22,241 | €23,323 | +€1,082 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | €30,477 | €18,806 | -€11,672 | -38.3% |
| Income taxes | 67/77 | €8,107 | €13,231 | +€5,124 | +63.2% |
| Profit (loss) for the period | 9904 | €22,371 | €5,575 | -€16,796 | -75.1% |
| Profit (loss) for the period to be appropriated | 9905 | €22,371 | €5,575 | -€16,796 | -75.1% |
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 24 October 2026 via checked.be.