Machelar: 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.
What changed
Machelar
NACE 68.204, Real estate activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€588,549
2024 · €536,677+€51,872
Equity
€6.6m
2024 · €6.0m+€586,883
Cash
€1.6m
2024 · €1.6m+€61,944
Balance sheet total
€7.0m
2024 · €6.4m+€581,755
Largest movements
Assets
- Tangible fixed assets +€546,230
up €546,230 (+33.0%), from €1.7m to €2.2m
of which Land and buildings: +€554,916
Equity and liabilities
- Reserves +€586,883
up €586,883 (+20.3%), from €2.9m to €3.5m
Income statement
- Gross operating margin +€199,107
up €199,107 (+22.7%), from €878,476 to €1.1m
- Other operating charges +€115,443
up €115,443 (+1,367%), from €8,448 to €123,891
- Taxes +€17,963
up €17,963 (+7.2%), from €250,038 to €268,001
- Depreciation +€15,033
up €15,033 (+22.5%), from €66,790 to €81,824
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.
Result 2024
€536,677
Gross operating margin
+€199,107
Depreciation
-€15,033
Other operating charges
-€115,443
Financial income
+€534
Financial charges
+€670
Taxes
-€17,963
Result 2025
€588,549
raises the resultlowers the result
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.
From operations
+€691,664
Investment
-€628,054
Financing
-€1,666
Cash 2024
€1.6m
From operations (derived)
+€691,664
Net result for the year
+€588,549
Depreciation
+€81,824
Receivables within one year
+€26,993
Smaller working-capital items
-€2,111
Trade debts
-€10,267
Tax, wage and social debts
-€17,044
Other debts
+€26,434
Accrued charges and deferred income
-€2,713
Investment (derived)
-€628,054
Investment in fixed assets (net)
-€628,054
Financing
-€1,666
Contributions, distributions and other
-€1,666
Cash 2025
€1.6m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,393,966 | €6,975,721 | +€581,755 | +9.1% |
| Fixed assets | 21/28 | €4,753,413 | €5,299,644 | +€546,230 | +11.5% |
| Tangible fixed assets | 22/27 | €1,653,163 | €2,199,394 | +€546,230 | +33.0% |
| Land and buildings | 22 | €1,618,248 | €2,173,164 | +€554,916 | +34.3% |
| Plant, machinery and equipment | 23 | €32,294 | €24,594 | -€7,700 | -23.8% |
| Furniture and vehicles | 24 | €2,621 | €1,636 | -€985 | -37.6% |
| Financial fixed assets | 28 | €3,100,250 | €3,100,250 | = | 0.0% |
| Current assets | 29/58 | €1,640,552 | €1,676,077 | +€35,525 | +2.2% |
| Amounts receivable within one year | 40/41 | €85,433 | €58,440 | -€26,993 | -31.6% |
| Trade receivables | 40 | €84,420 | €58,425 | -€25,996 | -30.8% |
| Other amounts receivable | 41 | €1,013 | €16 | -€997 | -98.5% |
| Cash at bank and in hand | 54/58 | €1,552,655 | €1,614,599 | +€61,944 | +4.0% |
| Deferred charges and accrued income | 490/1 | €2,464 | €3,038 | +€574 | +23.3% |
| Total equity and liabilities | 10/49 | €6,393,966 | €6,975,721 | +€581,755 | +9.1% |
| Equity | 10/15 | €5,989,953 | €6,576,836 | +€586,883 | +9.8% |
| Contributions | 10/11 | €3,103,000 | €3,103,000 | = | 0.0% |
| Reserves | 13 | €2,886,953 | €3,473,836 | +€586,883 | +20.3% |
| Distributable reserves | 133 | €2,886,953 | €3,473,836 | +€586,883 | +20.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €404,013 | €398,885 | -€5,128 | -1.3% |
| Amounts payable within one year | 42/48 | €381,985 | €379,570 | -€2,415 | -0.6% |
| Trade debts | 44 | €12,225 | €1,958 | -€10,267 | -84.0% |
| Suppliers | 440/4 | €12,225 | €1,958 | -€10,267 | -84.0% |
| Advances received on contracts in progress | 46 | €1,668 | €131 | -€1,538 | -92.2% |
| Taxes, remuneration and social security | 45 | €124,047 | €107,003 | -€17,044 | -13.7% |
| Taxes | 450/3 | €118,922 | €99,953 | -€18,969 | -16.0% |
| Remuneration and social security | 454/9 | €5,125 | €7,050 | +€1,925 | +37.6% |
| Other amounts payable | 47/48 | €244,044 | €270,478 | +€26,434 | +10.8% |
| Accrued charges and deferred income | 492/3 | €22,028 | €19,315 | -€2,713 | -12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,790 | €81,824 | +€15,033 | +22.5% |
| Other operating charges | 640/8 | €8,448 | €123,891 | +€115,443 | +1,367% |
| Gross operating margin | 9900 | €878,476 | €1,077,582 | +€199,107 | +22.7% |
| Operating profit (loss) | 9901 | €803,237 | €871,868 | +€68,631 | +8.5% |
| Financial income | 75/76B | €970 | €1,504 | +€534 | +55.1% |
| Recurring financial income | 75 | €970 | €1,504 | +€534 | +55.1% |
| Financial charges | 65/66B | €17,492 | €16,822 | -€670 | -3.8% |
| Recurring financial charges | 65 | €17,492 | €16,822 | -€670 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €786,715 | €856,550 | +€69,835 | +8.9% |
| Income taxes | 67/77 | €250,038 | €268,001 | +€17,963 | +7.2% |
| Profit (loss) for the period | 9904 | €536,677 | €588,549 | +€51,872 | +9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €536,677 | €588,549 | +€51,872 | +9.7% |
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.