MACELLO: 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.
MACELLO
Largest movements
- Receivables within one year -€229,021
down €229,021 (-49.9%), from €459,407 to €230,386
of which Trade receivables: -€216,539
- Tangible fixed assets -€26,675
down €26,675 (-37.0%), from €72,190 to €45,515
of which Furniture and vehicles: -€26,675
- Tax, wage and social debts -€132,825
down €132,825 (-68.1%), from €195,107 to €62,282
of which Remuneration and social security: -€104,933
- Trade debts -€93,466
down €93,466 (-47.2%), from €198,079 to €104,614
- Current portion of long-term debt -€29,311
down €29,311 (-40.3%), from €72,681 to €43,370
- Staff costs -€373,853
down €373,853 (-25.3%), from €1.5m to €1.1m
- Gross operating margin -€337,537
down €337,537 (-22.8%), from €1.5m to €1.1m
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 | €534,522 | €278,826 | -€255,696 | -47.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €75,115 | €48,440 | -€26,675 | -35.5% |
| Tangible fixed assets | 22/27 | €72,190 | €45,515 | -€26,675 | -37.0% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €72,190 | €45,515 | -€26,675 | -37.0% |
| Financial fixed assets | 28 | €2,925 | €2,925 | = | 0.0% |
| Current assets | 29/58 | €459,407 | €230,386 | -€229,021 | -49.9% |
| Amounts receivable within one year | 40/41 | €459,407 | €230,386 | -€229,021 | -49.9% |
| Trade receivables | 40 | €391,118 | €174,579 | -€216,539 | -55.4% |
| Other amounts receivable | 41 | €68,290 | €55,807 | -€12,483 | -18.3% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €534,522 | €278,826 | -€255,696 | -47.8% |
| Equity | 10/15 | €58,105 | €56,388 | -€1,717 | -3.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,505 | €37,788 | -€1,717 | -4.3% |
| Amounts payable | 17/49 | €476,417 | €222,438 | -€253,979 | -53.3% |
| Amounts payable after more than one year | 17 | €8,982 | €8,982 | = | 0.0% |
| Financial debts | 170/4 | €8,982 | €8,982 | = | 0.0% |
| Amounts payable within one year | 42/48 | €467,435 | €213,456 | -€253,979 | -54.3% |
| Current portion of amounts payable after more than one year | 42 | €72,681 | €43,370 | -€29,311 | -40.3% |
| Financial debts | 43 | €1,568 | €3,191 | +€1,622 | +103.5% |
| Credit institutions | 430/8 | €1,568 | €3,191 | +€1,622 | +103.5% |
| Trade debts | 44 | €198,079 | €104,614 | -€93,466 | -47.2% |
| Suppliers | 440/4 | €198,079 | €104,614 | -€93,466 | -47.2% |
| Taxes, remuneration and social security | 45 | €195,107 | €62,282 | -€132,825 | -68.1% |
| Taxes | 450/3 | €38,728 | €10,837 | -€27,891 | -72.0% |
| Remuneration and social security | 454/9 | €156,378 | €51,445 | -€104,933 | -67.1% |
| Remuneration, social security and pensions | 62 | €1,479,870 | €1,106,017 | -€373,853 | -25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,799 | €26,675 | -€124 | -0.5% |
| Other operating charges | 640/8 | €2,076 | €2,914 | +€838 | +40.4% |
| Gross operating margin | 9900 | €1,480,454 | €1,142,917 | -€337,537 | -22.8% |
| Operating profit (loss) | 9901 | -€28,291 | €7,311 | +€35,602 | |
| Financial income | 75/76B | - | €33 | +€33 | |
| Recurring financial income | 75 | - | €33 | +€33 | |
| Financial charges | 65/66B | €4,930 | €3,989 | -€942 | -19.1% |
| Recurring financial charges | 65 | €4,930 | €3,989 | -€942 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | -€33,221 | €3,355 | +€36,576 | |
| Income taxes | 67/77 | €1,340 | €5,073 | +€3,733 | +278.7% |
| Profit (loss) for the period | 9904 | -€34,561 | -€1,717 | +€32,843 | +95.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,561 | -€1,717 | +€32,843 | +95.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.