MACIMARO: 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.
MACIMARO
Largest movements
- Intangible fixed assets +€123,894
new in 2025: €123,894
- Stocks and contracts -€123,894
down €123,894 (-100.0%), from €123,894 to €0
- Debts after one year -€14,377
down €14,377 (-1.7%), from €846,491 to €832,114
- Profit (loss) carried forward +€8,308
up €8,308 (+0.9%), from -€881,057 to -€872,749
- Other debts +€6,455
up €6,455 (+13.2%), from €49,027 to €55,481
- Depreciation -€19,435
down €19,435 (-100.0%), from €19,435 to €0
- Taxes -€2,294
down €2,294 (-100.0%), from €2,294 to €0
- Other operating charges +€1,337
up €1,337 (+21.2%), from €6,310 to €7,647
- Gross operating margin +€816
up €816 (+4.1%), from €19,855 to €20,671
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 | €449,725 | €452,799 | +€3,073 | +0.7% |
| Fixed assets | 21/28 | €311,770 | €439,370 | +€127,600 | +40.9% |
| Intangible fixed assets | 21 | - | €123,894 | +€123,894 | |
| Tangible fixed assets | 22/27 | €311,770 | €315,476 | +€3,706 | +1.2% |
| Land and buildings | 22 | €311,770 | €315,476 | +€3,706 | +1.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €137,956 | €13,429 | -€124,527 | -90.3% |
| Stocks and contracts in progress | 3 | €123,894 | €0 | -€123,894 | -100.0% |
| Stocks | 30/36 | €123,894 | €0 | -€123,894 | -100.0% |
| Amounts receivable within one year | 40/41 | €1,692 | €0 | -€1,692 | -100.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,692 | €0 | -€1,692 | -100.0% |
| Cash at bank and in hand | 54/58 | €11,889 | €12,792 | +€903 | +7.6% |
| Deferred charges and accrued income | 490/1 | €480 | €637 | +€157 | +32.6% |
| Total equity and liabilities | 10/49 | €449,725 | €452,799 | +€3,073 | +0.7% |
| Equity | 10/15 | -€459,623 | -€451,314 | +€8,308 | +1.8% |
| Contributions | 10/11 | €311,973 | €311,973 | = | 0.0% |
| Reserves | 13 | €109,462 | €109,462 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,198 | €6,198 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,198 | €6,198 | = | 0.0% |
| Distributable reserves | 133 | €103,264 | €103,264 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€881,057 | -€872,749 | +€8,308 | +0.9% |
| Amounts payable | 17/49 | €909,348 | €904,113 | -€5,235 | -0.6% |
| Amounts payable after more than one year | 17 | €846,491 | €832,114 | -€14,377 | -1.7% |
| Financial debts | 170/4 | €846,491 | €832,114 | -€14,377 | -1.7% |
| Amounts payable within one year | 42/48 | €62,857 | €71,999 | +€9,142 | +14.5% |
| Current portion of amounts payable after more than one year | 42 | €13,830 | €14,377 | +€547 | +4.0% |
| Trade debts | 44 | - | €2,141 | +€2,141 | |
| Suppliers | 440/4 | - | €2,141 | +€2,141 | |
| Other amounts payable | 47/48 | €49,027 | €55,481 | +€6,455 | +13.2% |
| Non-recurring operating income | 76A | €360 | €1,350 | +€990 | +274.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,435 | €0 | -€19,435 | -100.0% |
| Other operating charges | 640/8 | €6,310 | €7,647 | +€1,337 | +21.2% |
| Gross operating margin | 9900 | €19,855 | €20,671 | +€816 | +4.1% |
| Operating profit (loss) | 9901 | -€5,889 | €13,024 | +€18,913 | |
| Financial charges | 65/66B | €4,890 | €4,715 | -€175 | -3.6% |
| Recurring financial charges | 65 | €4,890 | €4,715 | -€175 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | -€10,780 | €8,308 | +€19,088 | |
| Income taxes | 67/77 | €2,294 | €0 | -€2,294 | -100.0% |
| Profit (loss) for the period | 9904 | -€13,074 | €8,308 | +€21,382 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,074 | €8,308 | +€21,382 |
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 12 October 2026 via checked.be.