MACEMA: 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.
MACEMA
Largest movements
- Tangible fixed assets -€27,730
down €27,730 (-4.6%), from €608,585 to €580,855
- Cash +€17,171
up €17,171 (+13.9%), from €123,339 to €140,510
mainly Depreciation (+€27,730) and Net result for the year (+€12,395)
- Debts after one year -€35,612
down €35,612 (-10.2%), from €348,466 to €312,854
- Profit (loss) carried forward +€17,408
up €17,408 (+44.3%), from €39,300 to €56,708
- Gross operating margin -€28,639
down €28,639 (-30.6%), from €93,557 to €64,918
- Depreciation -€15,645
down €15,645 (-36.1%), from €43,375 to €27,730
- Other operating charges +€8,861
up €8,861 (+307%), from €2,885 to €11,746
- Taxes +€5,415
new in 2025: €5,415
- Financial charges -€4,942
down €4,942 (-33.7%), from €14,680 to €9,737
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 | €1,229,658 | €1,219,087 | -€10,571 | -0.9% |
| Fixed assets | 21/28 | €608,585 | €580,855 | -€27,730 | -4.6% |
| Tangible fixed assets | 22/27 | €608,585 | €580,855 | -€27,730 | -4.6% |
| Land and buildings | 22 | €608,585 | €580,855 | -€27,730 | -4.6% |
| Current assets | 29/58 | €621,074 | €638,232 | +€17,159 | +2.8% |
| Stocks and contracts in progress | 3 | €437,066 | €437,066 | = | 0.0% |
| Stocks | 30/36 | €437,066 | €437,066 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €60,243 | €59,743 | -€500 | -0.8% |
| Other amounts receivable | 41 | €60,243 | €59,743 | -€500 | -0.8% |
| Cash at bank and in hand | 54/58 | €123,339 | €140,510 | +€17,171 | +13.9% |
| Deferred charges and accrued income | 490/1 | €425 | €913 | +€488 | +115% |
| Total equity and liabilities | 10/49 | €1,229,658 | €1,219,087 | -€10,571 | -0.9% |
| Equity | 10/15 | €367,167 | €379,562 | +€12,395 | +3.4% |
| Contributions | 10/11 | €240,000 | €240,000 | = | 0.0% |
| Capital | 10 | €240,000 | €240,000 | = | 0.0% |
| Issued capital | 100 | €240,000 | €240,000 | = | 0.0% |
| Reserves | 13 | €87,866 | €82,854 | -€5,012 | -5.7% |
| Non-distributable reserves | 130/1 | €6,387 | €6,387 | = | 0.0% |
| Legal reserve | 130 | €6,387 | €6,387 | = | 0.0% |
| Tax-exempt reserves | 132 | €42,979 | €37,967 | -€5,012 | -11.7% |
| Distributable reserves | 133 | €38,500 | €38,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,300 | €56,708 | +€17,408 | +44.3% |
| Provisions and deferred taxes | 16 | €14,535 | €12,429 | -€2,105 | -14.5% |
| Deferred taxes | 168 | €14,535 | €12,429 | -€2,105 | -14.5% |
| Amounts payable | 17/49 | €847,957 | €827,096 | -€20,861 | -2.5% |
| Amounts payable after more than one year | 17 | €348,466 | €312,854 | -€35,612 | -10.2% |
| Financial debts | 170/4 | €348,466 | €312,854 | -€35,612 | -10.2% |
| Amounts payable within one year | 42/48 | €472,685 | €487,490 | +€14,805 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €30,258 | €31,507 | +€1,249 | +4.1% |
| Financial debts | 43 | €701 | €0 | -€701 | -100% |
| Credit institutions | 430/8 | €701 | €0 | -€701 | -100% |
| Trade debts | 44 | €21,637 | €30,479 | +€8,842 | +40.9% |
| Suppliers | 440/4 | €21,637 | €30,479 | +€8,842 | +40.9% |
| Taxes, remuneration and social security | 45 | €27,604 | €33,019 | +€5,415 | +19.6% |
| Taxes | 450/3 | €27,604 | €33,019 | +€5,415 | +19.6% |
| Other amounts payable | 47/48 | €392,485 | €392,485 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €26,806 | €26,752 | -€54 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,375 | €27,730 | -€15,645 | -36.1% |
| Other operating charges | 640/8 | €2,885 | €11,746 | +€8,861 | +307% |
| Gross operating margin | 9900 | €93,557 | €64,918 | -€28,639 | -30.6% |
| Operating profit (loss) | 9901 | €47,297 | €25,442 | -€21,855 | -46.2% |
| Financial income | 75/76B | €865 | €0 | -€865 | -100% |
| Recurring financial income | 75 | €865 | €0 | -€865 | -100% |
| Financial charges | 65/66B | €14,680 | €9,737 | -€4,942 | -33.7% |
| Recurring financial charges | 65 | €14,680 | €9,737 | -€4,942 | -33.7% |
| Profit (loss) for the period before taxes | 9903 | €33,482 | €15,705 | -€17,777 | -53.1% |
| Transfer from deferred taxes | 780 | €2,105 | €2,105 | = | 0.0% |
| Income taxes | 67/77 | - | €5,415 | +€5,415 | |
| Profit (loss) for the period | 9904 | €35,587 | €12,395 | -€23,192 | -65.2% |
| Transfer from tax-exempt reserves | 789 | €5,012 | €5,012 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,600 | €17,408 | -€23,192 | -57.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.