Macht: 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.
Macht
Largest movements
- Current investments +€340,000
up €340,000, from €0 to €340,000
- Cash -€314,098
down €314,098 (-74.1%), from €423,662 to €109,564
mainly Current investments (-€340,000) and Investment in fixed assets (net) (-€93,208)
- Receivables after one year +€69,000
up €69,000 (+6,900%), from €1,000 to €70,000
- Tangible fixed assets +€65,375
up €65,375 (+7.6%), from €858,559 to €923,933
of which Furniture and vehicles: +€33,917
- Receivables within one year +€37,569
up €37,569 (+47.9%), from €78,356 to €115,925
of which Other amounts receivable: +€33,293
- Reserves +€226,023
up €226,023 (+24.9%), from €908,939 to €1.1m
- Debts after one year -€41,300
down €41,300 (-12.0%), from €344,572 to €303,272
- Tax, wage and social debts +€18,526
up €18,526 (+77.6%), from €23,862 to €42,388
- Gross operating margin -€73,889
down €73,889 (-18.4%), from €400,935 to €327,045
- Taxes -€20,024
down €20,024 (-22.8%), from €87,991 to €67,967
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 | €1,361,577 | €1,563,669 | +€202,093 | +14.8% |
| Fixed assets | 21/28 | €858,559 | €923,933 | +€65,375 | +7.6% |
| Tangible fixed assets | 22/27 | €858,559 | €923,933 | +€65,375 | +7.6% |
| Land and buildings | 22 | €841,261 | €871,062 | +€29,801 | +3.5% |
| Plant, machinery and equipment | 23 | - | €2,509 | +€2,509 | |
| Furniture and vehicles | 24 | €16,359 | €50,276 | +€33,917 | +207% |
| Other tangible fixed assets | 26 | €939 | €87 | -€852 | -90.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €503,018 | €639,736 | +€136,718 | +27.2% |
| Amounts receivable after more than one year | 29 | €1,000 | €70,000 | +€69,000 | +6,900% |
| Other amounts receivable | 291 | €1,000 | €70,000 | +€69,000 | +6,900% |
| Amounts receivable within one year | 40/41 | €78,356 | €115,925 | +€37,569 | +47.9% |
| Trade receivables | 40 | €18,911 | €23,187 | +€4,276 | +22.6% |
| Other amounts receivable | 41 | €59,445 | €92,738 | +€33,293 | +56.0% |
| Current investments | 50/53 | €0 | €340,000 | +€340,000 | |
| Cash at bank and in hand | 54/58 | €423,662 | €109,564 | -€314,098 | -74.1% |
| Deferred charges and accrued income | 490/1 | - | €4,247 | +€4,247 | |
| Total equity and liabilities | 10/49 | €1,361,577 | €1,563,669 | +€202,093 | +14.8% |
| Equity | 10/15 | €927,539 | €1,153,562 | +€226,023 | +24.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €908,939 | €1,134,962 | +€226,023 | +24.9% |
| Distributable reserves | 133 | €908,939 | €1,134,962 | +€226,023 | +24.9% |
| Amounts payable | 17/49 | €434,038 | €410,107 | -€23,930 | -5.5% |
| Amounts payable after more than one year | 17 | €344,572 | €303,272 | -€41,300 | -12.0% |
| Financial debts | 170/4 | €344,572 | €303,272 | -€41,300 | -12.0% |
| Amounts payable within one year | 42/48 | €89,465 | €106,835 | +€17,370 | +19.4% |
| Current portion of amounts payable after more than one year | 42 | €48,637 | €41,300 | -€7,337 | -15.1% |
| Trade debts | 44 | €16,966 | €23,147 | +€6,181 | +36.4% |
| Suppliers | 440/4 | €16,966 | €23,147 | +€6,181 | +36.4% |
| Taxes, remuneration and social security | 45 | €23,862 | €42,388 | +€18,526 | +77.6% |
| Taxes | 450/3 | €23,862 | €42,388 | +€18,526 | +77.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,904 | €27,833 | +€3,929 | +16.4% |
| Other operating charges | 640/8 | €2,409 | €2,301 | -€108 | -4.5% |
| Gross operating margin | 9900 | €400,935 | €327,045 | -€73,889 | -18.4% |
| Operating profit (loss) | 9901 | €374,621 | €296,911 | -€77,710 | -20.7% |
| Financial income | 75/76B | €2,438 | €4,000 | +€1,562 | +64.1% |
| Recurring financial income | 75 | €2,438 | €4,000 | +€1,562 | +64.1% |
| Financial charges | 65/66B | €7,846 | €6,921 | -€925 | -11.8% |
| Recurring financial charges | 65 | €7,846 | €6,921 | -€925 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €369,212 | €293,990 | -€75,223 | -20.4% |
| Income taxes | 67/77 | €87,991 | €67,967 | -€20,024 | -22.8% |
| Profit (loss) for the period | 9904 | €281,222 | €226,023 | -€55,199 | -19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €281,222 | €226,023 | -€55,199 | -19.6% |
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.