MACEROTRI IMMO: what changed
MACEROTRI IMMO
Largest movements
- Stocks and contracts -€136,899
no longer reported in 2025 (was €136,899)
- Tangible fixed assets -€112,347
down €112,347 (-18.9%), from €593,925 to €481,578
- Receivables within one year -€96,847
down €96,847 (-89.0%), from €108,790 to €11,943
of which Trade receivables: -€79,886
- Cash -€84,336
down €84,336 (-72.9%), from €115,661 to €31,325
mainly Contributions, distributions and other (-€311,901) and Tax, wage and social debts (-€67,271)
- Deferred charges and accrued income -€46,456
no longer reported in 2025 (was €46,456)
- Reserves -€171,812
down €171,812 (-53.2%), from €323,139 to €151,327
of which Distributable reserves: -€170,130
- Profit (loss) carried forward -€145,152
down €145,152 (-65.6%), from €221,172 to €76,020
- Tax, wage and social debts -€67,271
down €67,271 (-97.2%), from €69,214 to €1,943
of which Taxes: -€56,671
- Trade debts -€66,044
no longer reported in 2025 (was €66,044)
- Debts after one year -€30,702
down €30,702 (-11.5%), from €266,787 to €236,085
- Gross operating margin -€642,668
down €642,668 (-95.7%), from €671,509 to €28,841
- Staff costs -€496,501
no longer reported in 2025 (was €496,501)
- Taxes -€19,821
no longer reported in 2025 (was €19,821)
- Depreciation -€9,070
down €9,070 (-19.3%), from €47,092 to €38,022
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,034,247 | €524,846 | -€509,401 | -49.3% |
| Fixed assets | 21/28 | €594,325 | €481,578 | -€112,747 | -19.0% |
| Tangible fixed assets | 22/27 | €593,925 | €481,578 | -€112,347 | -18.9% |
| Land and buildings | 22 | €518,350 | €481,578 | -€36,772 | -7.1% |
| Plant, machinery and equipment | 23 | €50,153 | - | -€50,153 | |
| Furniture and vehicles | 24 | €25,422 | - | -€25,422 | |
| Financial fixed assets | 28 | €400 | - | -€400 | |
| Current assets | 29/58 | €439,922 | €43,268 | -€396,655 | -90.2% |
| Stocks and contracts in progress | 3 | €136,899 | - | -€136,899 | |
| Stocks | 30/36 | €136,899 | - | -€136,899 | |
| Amounts receivable within one year | 40/41 | €108,790 | €11,943 | -€96,847 | -89.0% |
| Trade receivables | 40 | €84,124 | €4,238 | -€79,886 | -95.0% |
| Other amounts receivable | 41 | €24,666 | €7,705 | -€16,961 | -68.8% |
| Current investments | 50/53 | €32,116 | - | -€32,116 | |
| Cash at bank and in hand | 54/58 | €115,661 | €31,325 | -€84,336 | -72.9% |
| Deferred charges and accrued income | 490/1 | €46,456 | - | -€46,456 | |
| Total equity and liabilities | 10/49 | €1,034,247 | €524,846 | -€509,401 | -49.3% |
| Equity | 10/15 | €584,380 | €256,115 | -€328,265 | -56.2% |
| Contributions | 10/11 | €18,750 | €8,781 | -€9,969 | -53.2% |
| Reserves | 13 | €323,139 | €151,327 | -€171,812 | -53.2% |
| Non-distributable reserves | 130/1 | €3,163 | €1,481 | -€1,682 | -53.2% |
| Reserves not available under the articles | 1311 | €3,163 | €1,481 | -€1,682 | -53.2% |
| Distributable reserves | 133 | €319,976 | €149,846 | -€170,130 | -53.2% |
| Profit (loss) carried forward | 14 | €221,172 | €76,020 | -€145,152 | -65.6% |
| Investment grants | 15 | €21,320 | €19,987 | -€1,332 | -6.3% |
| Amounts payable | 17/49 | €449,866 | €268,730 | -€181,136 | -40.3% |
| Amounts payable after more than one year | 17 | €266,787 | €236,085 | -€30,702 | -11.5% |
| Financial debts | 170/4 | €266,787 | €236,085 | -€30,702 | -11.5% |
| Amounts payable within one year | 42/48 | €183,079 | €32,645 | -€150,434 | -82.2% |
| Current portion of amounts payable after more than one year | 42 | €47,821 | €30,702 | -€17,119 | -35.8% |
| Trade debts | 44 | €66,044 | - | -€66,044 | |
| Suppliers | 440/4 | €66,044 | - | -€66,044 | |
| Taxes, remuneration and social security | 45 | €69,214 | €1,943 | -€67,271 | -97.2% |
| Taxes | 450/3 | €58,614 | €1,943 | -€56,671 | -96.7% |
| Remuneration and social security | 454/9 | €10,600 | - | -€10,600 | |
| Remuneration, social security and pensions | 62 | €496,501 | - | -€496,501 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,092 | €38,022 | -€9,070 | -19.3% |
| Other operating charges | 640/8 | €7,130 | €3,429 | -€3,700 | -51.9% |
| Non-recurring operating charges | 66A | €46,235 | - | -€46,235 | |
| Gross operating margin | 9900 | €671,509 | €28,841 | -€642,668 | -95.7% |
| Operating profit (loss) | 9901 | €74,551 | -€12,610 | -€87,162 | |
| Financial income | 75/76B | €3,199 | €1,188 | -€2,010 | -62.9% |
| Recurring financial income | 75 | €3,199 | €1,188 | -€2,010 | -62.9% |
| Financial charges | 65/66B | €10,543 | €4,943 | -€5,600 | -53.1% |
| Recurring financial charges | 65 | €10,543 | €4,943 | -€5,600 | -53.1% |
| Profit (loss) for the period before taxes | 9903 | €67,207 | -€16,365 | -€83,572 | |
| Income taxes | 67/77 | €19,821 | - | -€19,821 | |
| Profit (loss) for the period | 9904 | €47,387 | -€16,365 | -€63,751 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,387 | -€16,365 | -€63,751 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.