Machielsen & Partners: 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.
Machielsen & Partners
Largest movements
- Receivables after one year +€40,000
new in 2025: €40,000
- Cash +€15,697
up €15,697 (+28.8%), from €54,560 to €70,258
mainly Debts after one year (+€31,342) and Depreciation (+€12,694)
- Tangible fixed assets -€11,670
down €11,670 (-20.5%), from €56,804 to €45,135
of which Land and buildings: -€9,112
- Current investments +€6,134
up €6,134 (+35.7%), from €17,201 to €23,335
- Receivables within one year -€4,843
down €4,843 (-23.1%), from €20,977 to €16,134
of which Trade receivables: -€6,645
- Debts after one year +€31,342
new in 2025: €31,342
- Current portion of long-term debt +€4,397
up €4,397 (+144%), from €3,047 to €7,444
- Tax, wage and social debts +€3,920
up €3,920 (+60.2%), from €6,510 to €10,430
- Trade debts +€3,543
up €3,543 (+100%), from €3,540 to €7,083
- Staff costs +€8,690
up €8,690, from -€6,633 to €2,057
- Gross operating margin +€7,236
up €7,236 (+66.0%), from €10,968 to €18,204
- Taxes -€618
down €618 (-47.0%), from €1,315 to €698
- Financial charges +€289
up €289 (+48.6%), from €594 to €882
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 | €164,201 | €208,470 | +€44,270 | +27.0% |
| Fixed assets | 21/28 | €62,818 | €51,149 | -€11,670 | -18.6% |
| Tangible fixed assets | 22/27 | €56,804 | €45,135 | -€11,670 | -20.5% |
| Land and buildings | 22 | €45,561 | €36,449 | -€9,112 | -20.0% |
| Plant, machinery and equipment | 23 | €5,335 | €3,770 | -€1,565 | -29.3% |
| Furniture and vehicles | 24 | €5,908 | €4,916 | -€992 | -16.8% |
| Financial fixed assets | 28 | €6,014 | €6,014 | = | 0.0% |
| Current assets | 29/58 | €101,382 | €157,322 | +€55,939 | +55.2% |
| Amounts receivable after more than one year | 29 | - | €40,000 | +€40,000 | |
| Other amounts receivable | 291 | - | €40,000 | +€40,000 | |
| Amounts receivable within one year | 40/41 | €20,977 | €16,134 | -€4,843 | -23.1% |
| Trade receivables | 40 | €19,684 | €13,039 | -€6,645 | -33.8% |
| Other amounts receivable | 41 | €1,293 | €3,095 | +€1,802 | +139% |
| Current investments | 50/53 | €17,201 | €23,335 | +€6,134 | +35.7% |
| Cash at bank and in hand | 54/58 | €54,560 | €70,258 | +€15,697 | +28.8% |
| Deferred charges and accrued income | 490/1 | €8,644 | €7,595 | -€1,049 | -12.1% |
| Total equity and liabilities | 10/49 | €164,201 | €208,470 | +€44,270 | +27.0% |
| Equity | 10/15 | €151,072 | €151,473 | +€402 | +0.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €144,872 | €145,273 | +€402 | +0.3% |
| Distributable reserves | 133 | €144,872 | €145,273 | +€402 | +0.3% |
| Amounts payable | 17/49 | €13,129 | €56,997 | +€43,868 | +334% |
| Amounts payable after more than one year | 17 | - | €31,342 | +€31,342 | |
| Financial debts | 170/4 | - | €31,342 | +€31,342 | |
| Amounts payable within one year | 42/48 | €13,129 | €25,655 | +€12,526 | +95.4% |
| Current portion of amounts payable after more than one year | 42 | €3,047 | €7,444 | +€4,397 | +144% |
| Trade debts | 44 | €3,540 | €7,083 | +€3,543 | +100% |
| Suppliers | 440/4 | €3,540 | €7,083 | +€3,543 | +100% |
| Taxes, remuneration and social security | 45 | €6,510 | €10,430 | +€3,920 | +60.2% |
| Taxes | 450/3 | €6,510 | €10,430 | +€3,920 | +60.2% |
| Other amounts payable | 47/48 | €32 | €697 | +€665 | +2,058% |
| Remuneration, social security and pensions | 62 | -€6,633 | €2,057 | +€8,690 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,540 | €12,694 | +€154 | +1.2% |
| Other operating charges | 640/8 | €1,985 | €2,024 | +€40 | +2.0% |
| Gross operating margin | 9900 | €10,968 | €18,204 | +€7,236 | +66.0% |
| Operating profit (loss) | 9901 | €3,077 | €1,428 | -€1,649 | -53.6% |
| Financial income | 75/76B | €410 | €553 | +€144 | +35.1% |
| Recurring financial income | 75 | €410 | €553 | +€144 | +35.1% |
| Financial charges | 65/66B | €594 | €882 | +€289 | +48.6% |
| Recurring financial charges | 65 | €594 | €882 | +€289 | +48.6% |
| Profit (loss) for the period before taxes | 9903 | €2,893 | €1,099 | -€1,794 | -62.0% |
| Income taxes | 67/77 | €1,315 | €698 | -€618 | -47.0% |
| Profit (loss) for the period | 9904 | €1,578 | €402 | -€1,176 | -74.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,578 | €402 | -€1,176 | -74.5% |
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 1 November 2026 via checked.be.