MACHET: 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.
MACHET
Largest movements
- Tangible fixed assets +€629,893
up €629,893 (+275.8%), from €228,354 to €858,247
of which Land and buildings: +€629,673
- Cash -€108,464
down €108,464 (-92.8%), from €116,818 to €8,354
mainly Investment in fixed assets (net) (-€706,825) and Trade debts (-€11,176)
- Financial fixed assets +€39,731
up €39,731 (+151.2%), from €26,269 to €66,000
- Debts after one year +€378,558
new in 2025: €378,558
- Profit (loss) carried forward +€180,305
up €180,305, from -€6,238 to €174,067
- Current portion of long-term debt +€21,442
new in 2025: €21,442
- Trade debts -€11,176
down €11,176 (-78.2%), from €14,286 to €3,110
- Financial income +€58,793
up €58,793 (+168.0%), from €34,993 to €93,786
of which Non-recurring financial income: +€62,496
- Turnover +€25,676
up €25,676 (+5.3%), from €483,167 to €508,843
- Gross operating margin +€19,269
up €19,269 (+10.4%), from €184,453 to €203,722
- Depreciation +€18,619
up €18,619 (+100.2%), from €18,582 to €37,201
- Financial charges +€15,464
up €15,464 (+391.8%), from €3,947 to €19,411
of which Non-recurring financial charges: +€11,677
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 | €440,406 | €1,010,219 | +€569,813 | +129.4% |
| Fixed assets | 21/28 | €254,623 | €924,247 | +€669,624 | +263.0% |
| Tangible fixed assets | 22/27 | €228,354 | €858,247 | +€629,893 | +275.8% |
| Land and buildings | 22 | €194,184 | €823,857 | +€629,673 | +324.3% |
| Plant, machinery and equipment | 23 | €15,193 | €16,189 | +€996 | +6.6% |
| Furniture and vehicles | 24 | €18,977 | €18,201 | -€776 | -4.1% |
| Financial fixed assets | 28 | €26,269 | €66,000 | +€39,731 | +151.2% |
| Current assets | 29/58 | €185,783 | €85,972 | -€99,811 | -53.7% |
| Stocks and contracts in progress | 3 | €34,418 | €39,277 | +€4,859 | +14.1% |
| Stocks | 30/36 | €34,418 | €39,277 | +€4,859 | +14.1% |
| Amounts receivable within one year | 40/41 | €34,547 | €38,341 | +€3,794 | +11.0% |
| Trade receivables | 40 | €3,304 | €4,940 | +€1,636 | +49.5% |
| Other amounts receivable | 41 | €31,243 | €33,401 | +€2,158 | +6.9% |
| Cash at bank and in hand | 54/58 | €116,818 | €8,354 | -€108,464 | -92.8% |
| Total equity and liabilities | 10/49 | €440,406 | €1,010,219 | +€569,813 | +129.4% |
| Equity | 10/15 | €416,569 | €596,874 | +€180,305 | +43.3% |
| Contributions | 10/11 | €410,000 | €410,000 | = | 0.0% |
| Reserves | 13 | €12,807 | €12,807 | = | 0.0% |
| Distributable reserves | 133 | €12,807 | €12,807 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,238 | €174,067 | +€180,305 | |
| Amounts payable | 17/49 | €23,837 | €413,345 | +€389,508 | +1634.0% |
| Amounts payable after more than one year | 17 | - | €378,558 | +€378,558 | |
| Financial debts | 170/4 | - | €378,558 | +€378,558 | |
| Amounts payable within one year | 42/48 | €23,837 | €34,787 | +€10,950 | +45.9% |
| Current portion of amounts payable after more than one year | 42 | - | €21,442 | +€21,442 | |
| Trade debts | 44 | €14,286 | €3,110 | -€11,176 | -78.2% |
| Suppliers | 440/4 | €14,286 | €3,110 | -€11,176 | -78.2% |
| Taxes, remuneration and social security | 45 | €8,385 | €9,069 | +€684 | +8.2% |
| Taxes | 450/3 | €8,385 | €7,520 | -€865 | -10.3% |
| Remuneration and social security | 454/9 | - | €1,549 | +€1,549 | |
| Other amounts payable | 47/48 | €1,166 | €1,166 | = | 0.0% |
| Turnover | 70 | €483,167 | €508,843 | +€25,676 | +5.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €298,714 | €305,121 | +€6,407 | +2.1% |
| Remuneration, social security and pensions | 62 | €8,637 | €20,768 | +€12,131 | +140.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,582 | €37,201 | +€18,619 | +100.2% |
| Other operating charges | 640/8 | €3,674 | €4,854 | +€1,180 | +32.1% |
| Non-recurring operating charges | 66A | €177 | - | -€177 | |
| Gross operating margin | 9900 | €184,453 | €203,722 | +€19,269 | +10.4% |
| Operating profit (loss) | 9901 | €153,383 | €140,899 | -€12,484 | -8.1% |
| Financial income | 75/76B | €34,993 | €93,786 | +€58,793 | +168.0% |
| Recurring financial income | 75 | €6,950 | €3,247 | -€3,703 | -53.3% |
| Non-recurring financial income | 76B | €28,043 | €90,539 | +€62,496 | +222.9% |
| Financial charges | 65/66B | €3,947 | €19,411 | +€15,464 | +391.8% |
| Recurring financial charges | 65 | €2,497 | €6,284 | +€3,787 | +151.7% |
| Non-recurring financial charges | 66B | €1,450 | €13,127 | +€11,677 | +805.3% |
| Profit (loss) for the period before taxes | 9903 | €184,429 | €215,274 | +€30,845 | +16.7% |
| Income taxes | 67/77 | €30,000 | €34,969 | +€4,969 | +16.6% |
| Profit (loss) for the period | 9904 | €154,429 | €180,305 | +€25,876 | +16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €154,429 | €180,305 | +€25,876 | +16.8% |
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 28 September 2026 via checked.be.