MachaonAdvisory: 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.
MachaonAdvisory
Largest movements
- Current investments +€150,689
up €150,689 (+42.5%), from €354,280 to €504,969
- Cash +€50,553
up €50,553 (+14.3%), from €353,329 to €403,882
mainly Net result for the year (+€177,776) and Tax, wage and social debts (+€13,362)
- Receivables within one year -€11,121
down €11,121 (-34.3%), from €32,454 to €21,333
of which Trade receivables: -€11,713
- Reserves +€177,776
up €177,776 (+26.5%), from €671,253 to €849,029
- Tax, wage and social debts +€13,362
up €13,362 (+167%), from €7,984 to €21,347
- Trade debts -€10,623
down €10,623 (-93.3%), from €11,383 to €760
- Gross operating margin +€105,746
up €105,746 (+53.7%), from €196,930 to €302,676
- Financial income -€35,970
down €35,970 (-83.1%), from €43,289 to €7,318
- Taxes +€26,841
up €26,841 (+52.1%), from €51,515 to €78,357
- Financial charges +€11,697
up €11,697 (+30.9%), from €37,835 to €49,532
- Depreciation -€3,385
down €3,385 (-46.3%), from €7,315 to €3,930
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 | €758,930 | €944,749 | +€185,819 | +24.5% |
| Fixed assets | 21/28 | €18,539 | €14,565 | -€3,974 | -21.4% |
| Intangible fixed assets | 21 | €1,300 | €587 | -€714 | -54.9% |
| Tangible fixed assets | 22/27 | €17,195 | €13,978 | -€3,217 | -18.7% |
| Furniture and vehicles | 24 | €4,610 | €2,331 | -€2,279 | -49.4% |
| Other tangible fixed assets | 26 | €12,585 | €11,647 | -€938 | -7.5% |
| Financial fixed assets | 28 | €43 | - | -€43 | |
| Current assets | 29/58 | €740,392 | €930,184 | +€189,792 | +25.6% |
| Amounts receivable within one year | 40/41 | €32,454 | €21,333 | -€11,121 | -34.3% |
| Trade receivables | 40 | €24,690 | €12,977 | -€11,713 | -47.4% |
| Other amounts receivable | 41 | €7,764 | €8,356 | +€592 | +7.6% |
| Current investments | 50/53 | €354,280 | €504,969 | +€150,689 | +42.5% |
| Cash at bank and in hand | 54/58 | €353,329 | €403,882 | +€50,553 | +14.3% |
| Deferred charges and accrued income | 490/1 | €329 | - | -€329 | |
| Total equity and liabilities | 10/49 | €758,930 | €944,749 | +€185,819 | +24.5% |
| Equity | 10/15 | €738,763 | €916,538 | +€177,776 | +24.1% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €671,253 | €849,029 | +€177,776 | +26.5% |
| Distributable reserves | 133 | €671,253 | €849,029 | +€177,776 | +26.5% |
| Profit (loss) carried forward | 14 | €55,010 | €55,010 | = | 0.0% |
| Amounts payable | 17/49 | €20,167 | €28,211 | +€8,043 | +39.9% |
| Amounts payable after more than one year | 17 | - | €6,104 | +€6,104 | |
| Other amounts payable | 178/9 | - | €6,104 | +€6,104 | |
| Amounts payable within one year | 42/48 | €20,167 | €22,107 | +€1,939 | +9.6% |
| Trade debts | 44 | €11,383 | €760 | -€10,623 | -93.3% |
| Suppliers | 440/4 | €11,383 | €760 | -€10,623 | -93.3% |
| Taxes, remuneration and social security | 45 | €7,984 | €21,347 | +€13,362 | +167% |
| Taxes | 450/3 | €7,984 | €21,347 | +€13,362 | +167% |
| Other amounts payable | 47/48 | €800 | - | -€800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,315 | €3,930 | -€3,385 | -46.3% |
| Other operating charges | 640/8 | €1,405 | €400 | -€1,005 | -71.5% |
| Gross operating margin | 9900 | €196,930 | €302,676 | +€105,746 | +53.7% |
| Operating profit (loss) | 9901 | €188,210 | €298,346 | +€110,136 | +58.5% |
| Financial income | 75/76B | €43,289 | €7,318 | -€35,970 | -83.1% |
| Recurring financial income | 75 | €43,289 | €7,318 | -€35,970 | -83.1% |
| Financial charges | 65/66B | €37,835 | €49,532 | +€11,697 | +30.9% |
| Recurring financial charges | 65 | €37,835 | €49,532 | +€11,697 | +30.9% |
| Profit (loss) for the period before taxes | 9903 | €193,664 | €256,133 | +€62,469 | +32.3% |
| Income taxes | 67/77 | €51,515 | €78,357 | +€26,841 | +52.1% |
| Profit (loss) for the period | 9904 | €142,148 | €177,776 | +€35,627 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €142,148 | €177,776 | +€35,627 | +25.1% |
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 18 October 2026 via checked.be.