Machaon: 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.
Machaon
Largest movements
- Cash +€32,651
up €32,651 (+94.8%), from €34,447 to €67,098
mainly Trade debts (+€28,344) and Depreciation (+€14,726)
- Tangible fixed assets +€21,599
up €21,599 (+165.5%), from €13,054 to €34,652
of which Furniture and vehicles: +€25,531
- Receivables within one year +€14,495
up €14,495 (+32.8%), from €44,179 to €58,674
of which Trade receivables: +€11,324
- Intangible fixed assets -€4,500
down €4,500 (-42.9%), from €10,500 to €6,000
- Trade debts +€28,344
up €28,344 (+169.4%), from €16,728 to €45,073
- Debts after one year +€14,341
up €14,341 (+93.1%), from €15,406 to €29,747
- Profit (loss) carried forward +€11,084
up €11,084 (+22.2%), from €49,862 to €60,946
- Current portion of long-term debt +€7,842
up €7,842 (+131.0%), from €5,986 to €13,827
- Tax, wage and social debts +€3,714
up €3,714 (+27.0%), from €13,775 to €17,488
of which Remuneration and social security: +€2,196
- Taxes -€29,638
down €29,638 (-91.3%), from €32,465 to €2,827
- Gross operating margin -€16,653
down €16,653 (-24.3%), from €68,659 to €52,006
- Depreciation +€5,452
up €5,452 (+58.8%), from €9,275 to €14,726
- Financial charges +€3,412
up €3,412 (+15.6%), from €21,942 to €25,354
- Financial income +€2,310
up €2,310 (+25057.5%), from €9 to €2,320
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 | €102,757 | €168,423 | +€65,666 | +63.9% |
| Fixed assets | 21/28 | €23,579 | €41,121 | +€17,542 | +74.4% |
| Intangible fixed assets | 21 | €10,500 | €6,000 | -€4,500 | -42.9% |
| Tangible fixed assets | 22/27 | €13,054 | €34,652 | +€21,599 | +165.5% |
| Plant, machinery and equipment | 23 | €5,854 | €1,921 | -€3,932 | -67.2% |
| Furniture and vehicles | 24 | €7,200 | €32,731 | +€25,531 | +354.6% |
| Financial fixed assets | 28 | €25 | €469 | +€444 | +1774.0% |
| Current assets | 29/58 | €79,178 | €127,302 | +€48,124 | +60.8% |
| Amounts receivable within one year | 40/41 | €44,179 | €58,674 | +€14,495 | +32.8% |
| Trade receivables | 40 | €40,183 | €51,507 | +€11,324 | +28.2% |
| Other amounts receivable | 41 | €3,996 | €7,167 | +€3,172 | +79.4% |
| Cash at bank and in hand | 54/58 | €34,447 | €67,098 | +€32,651 | +94.8% |
| Deferred charges and accrued income | 490/1 | €552 | €1,531 | +€978 | +177.1% |
| Total equity and liabilities | 10/49 | €102,757 | €168,423 | +€65,666 | +63.9% |
| Equity | 10/15 | €50,862 | €61,946 | +€11,084 | +21.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,862 | €60,946 | +€11,084 | +22.2% |
| Amounts payable | 17/49 | €51,895 | €106,477 | +€54,582 | +105.2% |
| Amounts payable after more than one year | 17 | €15,406 | €29,747 | +€14,341 | +93.1% |
| Financial debts | 170/4 | €15,406 | €29,747 | +€14,341 | +93.1% |
| Amounts payable within one year | 42/48 | €36,489 | €76,731 | +€40,242 | +110.3% |
| Current portion of amounts payable after more than one year | 42 | €5,986 | €13,827 | +€7,842 | +131.0% |
| Trade debts | 44 | €16,728 | €45,073 | +€28,344 | +169.4% |
| Suppliers | 440/4 | €16,728 | €45,073 | +€28,344 | +169.4% |
| Taxes, remuneration and social security | 45 | €13,775 | €17,488 | +€3,714 | +27.0% |
| Taxes | 450/3 | €13,775 | €15,293 | +€1,518 | +11.0% |
| Remuneration and social security | 454/9 | €0 | €2,196 | +€2,196 | |
| Other amounts payable | 47/48 | - | €342 | +€342 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,275 | €14,726 | +€5,452 | +58.8% |
| Other operating charges | 640/8 | €561 | €334 | -€227 | -40.4% |
| Gross operating margin | 9900 | €68,659 | €52,006 | -€16,653 | -24.3% |
| Operating profit (loss) | 9901 | €58,824 | €36,946 | -€21,878 | -37.2% |
| Financial income | 75/76B | €9 | €2,320 | +€2,310 | +25057.5% |
| Recurring financial income | 75 | €9 | €2,320 | +€2,310 | +25057.5% |
| Financial charges | 65/66B | €21,942 | €25,354 | +€3,412 | +15.6% |
| Recurring financial charges | 65 | €21,942 | €25,354 | +€3,412 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | €36,891 | €13,911 | -€22,979 | -62.3% |
| Income taxes | 67/77 | €32,465 | €2,827 | -€29,638 | -91.3% |
| Profit (loss) for the period | 9904 | €4,426 | €11,084 | +€6,658 | +150.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,426 | €11,084 | +€6,658 | +150.5% |
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 29 September 2026 via checked.be.