MACELLUM: 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.
MACELLUM
Largest movements
- Tangible fixed assets -€53,368
down €53,368 (-1.9%), from €2.9m to €2.8m
of which Land and buildings: -€52,653
- Receivables within one year -€49,910
down €49,910 (-5.0%), from €1.0m to €957,858
of which Trade receivables: -€92,850
- Accrued charges and deferred income -€87,703
no longer reported in 2025 (was €87,703)
- Trade debts -€45,438
down €45,438 (-60.2%), from €75,516 to €30,078
- Write-downs +€47,404
new in 2025: €47,404
- Taxes -€26,950
down €26,950, from €18,468 to -€8,481
- Gross operating margin +€19,056
up €19,056 (+9.0%), from €211,050 to €230,106
- Financial income +€10,200
up €10,200 (+20,400%), from €50 to €10,250
- Depreciation +€5,271
up €5,271 (+9.7%), from €54,453 to €59,724
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 | €3,950,473 | €3,821,313 | -€129,160 | -3.3% |
| Fixed assets | 21/28 | €2,915,788 | €2,862,810 | -€52,978 | -1.8% |
| Tangible fixed assets | 22/27 | €2,865,689 | €2,812,321 | -€53,368 | -1.9% |
| Land and buildings | 22 | €2,807,272 | €2,754,619 | -€52,653 | -1.9% |
| Plant, machinery and equipment | 23 | €58,417 | €57,703 | -€714 | -1.2% |
| Financial fixed assets | 28 | €50,099 | €50,489 | +€389 | +0.8% |
| Current assets | 29/58 | €1,034,685 | €958,504 | -€76,181 | -7.4% |
| Amounts receivable within one year | 40/41 | €1,007,768 | €957,858 | -€49,910 | -5.0% |
| Trade receivables | 40 | €1,007,768 | €914,918 | -€92,850 | -9.2% |
| Other amounts receivable | 41 | - | €42,939 | +€42,939 | |
| Cash at bank and in hand | 54/58 | €26,716 | €437 | -€26,278 | -98.4% |
| Deferred charges and accrued income | 490/1 | €202 | €209 | +€7 | +3.5% |
| Total equity and liabilities | 10/49 | €3,950,473 | €3,821,313 | -€129,160 | -3.3% |
| Equity | 10/15 | €663,262 | €687,571 | +€24,309 | +3.7% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €61,320 | €81,262 | +€19,942 | +32.5% |
| Non-distributable reserves | 130/1 | €42,000 | €60,000 | +€18,000 | +42.9% |
| Legal reserve | 130 | €42,000 | €60,000 | +€18,000 | +42.9% |
| Distributable reserves | 133 | €19,320 | €21,262 | +€1,942 | +10.1% |
| Profit (loss) carried forward | 14 | €1,942 | €6,309 | +€4,367 | +225% |
| Amounts payable | 17/49 | €3,287,211 | €3,133,743 | -€153,469 | -4.7% |
| Amounts payable after more than one year | 17 | €2,864,830 | €2,844,059 | -€20,771 | -0.7% |
| Other amounts payable | 178/9 | €2,864,830 | €2,844,059 | -€20,771 | -0.7% |
| Amounts payable within one year | 42/48 | €334,678 | €289,684 | -€44,994 | -13.4% |
| Trade debts | 44 | €75,516 | €30,078 | -€45,438 | -60.2% |
| Suppliers | 440/4 | €75,516 | €30,078 | -€45,438 | -60.2% |
| Taxes, remuneration and social security | 45 | €18,429 | €9,780 | -€8,648 | -46.9% |
| Taxes | 450/3 | €18,429 | €9,780 | -€8,648 | -46.9% |
| Other amounts payable | 47/48 | €240,734 | €249,826 | +€9,093 | +3.8% |
| Accrued charges and deferred income | 492/3 | €87,703 | - | -€87,703 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,453 | €59,724 | +€5,271 | +9.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €47,404 | +€47,404 | |
| Other operating charges | 640/8 | €24,406 | €23,818 | -€587 | -2.4% |
| Gross operating margin | 9900 | €211,050 | €230,106 | +€19,056 | +9.0% |
| Operating profit (loss) | 9901 | €132,191 | €99,160 | -€33,031 | -25.0% |
| Financial income | 75/76B | €50 | €10,250 | +€10,200 | +20,400% |
| Recurring financial income | 75 | €50 | €10,250 | +€10,200 | +20,400% |
| Financial charges | 65/66B | €91,831 | €93,583 | +€1,752 | +1.9% |
| Recurring financial charges | 65 | €91,831 | €93,583 | +€1,752 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | €40,410 | €15,827 | -€24,583 | -60.8% |
| Income taxes | 67/77 | €18,468 | -€8,481 | -€26,950 | |
| Profit (loss) for the period | 9904 | €21,942 | €24,309 | +€2,367 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,942 | €24,309 | +€2,367 | +10.8% |
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 13 October 2026 via checked.be.