MACINNES: 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.
MACINNES
Largest movements
- Tangible fixed assets +€59,744
up €59,744 (+1812.1%), from €3,297 to €63,041
- Current investments +€58,501
up €58,501 (+17.5%), from €334,703 to €393,205
- Cash -€38,696
down €38,696 (-59.5%), from €65,085 to €26,388
mainly Contributions, distributions and other (-€201,473) and Investment in fixed assets (net) (-€70,078)
- Receivables within one year -€11,029
down €11,029 (-14.0%), from €78,529 to €67,500
- Other debts +€82,893
up €82,893 (+29.3%), from €283,071 to €365,964
- Reserves -€30,733
down €30,733 (-17.1%), from €179,523 to €148,790
of which Tax-exempt reserves: -€30,733
- Trade debts +€13,984
up €13,984 (+421.8%), from €3,315 to €17,299
- Financial charges +€18,594
up €18,594, from -€11,177 to €7,417
- Financial income +€13,284
up €13,284 (+126.0%), from €10,543 to €23,827
- Gross operating margin -€7,866
down €7,866 (-3.4%), from €234,050 to €226,184
- Depreciation +€7,706
up €7,706 (+293.2%), from €2,628 to €10,334
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 | €484,697 | €554,033 | +€69,336 | +14.3% |
| Fixed assets | 21/28 | €3,297 | €63,041 | +€59,744 | +1812.1% |
| Tangible fixed assets | 22/27 | €3,297 | €63,041 | +€59,744 | +1812.1% |
| Furniture and vehicles | 24 | €3,297 | €63,041 | +€59,744 | +1812.1% |
| Current assets | 29/58 | €481,400 | €490,992 | +€9,592 | +2.0% |
| Amounts receivable within one year | 40/41 | €78,529 | €67,500 | -€11,029 | -14.0% |
| Trade receivables | 40 | €78,529 | €67,500 | -€11,029 | -14.0% |
| Current investments | 50/53 | €334,703 | €393,205 | +€58,501 | +17.5% |
| Cash at bank and in hand | 54/58 | €65,085 | €26,388 | -€38,696 | -59.5% |
| Deferred charges and accrued income | 490/1 | €3,083 | €3,899 | +€816 | +26.5% |
| Total equity and liabilities | 10/49 | €484,697 | €554,033 | +€69,336 | +14.3% |
| Equity | 10/15 | €182,523 | €151,790 | -€30,733 | -16.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €179,523 | €148,790 | -€30,733 | -17.1% |
| Tax-exempt reserves | 132 | €81,253 | €50,520 | -€30,733 | -37.8% |
| Distributable reserves | 133 | €98,270 | €98,270 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €302,174 | €402,243 | +€100,069 | +33.1% |
| Amounts payable within one year | 42/48 | €302,174 | €402,243 | +€100,069 | +33.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €3,315 | €17,299 | +€13,984 | +421.8% |
| Suppliers | 440/4 | €3,315 | €17,299 | +€13,984 | +421.8% |
| Taxes, remuneration and social security | 45 | €15,787 | €18,980 | +€3,192 | +20.2% |
| Taxes | 450/3 | €15,787 | €18,980 | +€3,192 | +20.2% |
| Other amounts payable | 47/48 | €283,071 | €365,964 | +€82,893 | +29.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,628 | €10,334 | +€7,706 | +293.2% |
| Other operating charges | 640/8 | €1,376 | €709 | -€667 | -48.5% |
| Gross operating margin | 9900 | €234,050 | €226,184 | -€7,866 | -3.4% |
| Operating profit (loss) | 9901 | €230,046 | €215,141 | -€14,905 | -6.5% |
| Financial income | 75/76B | €10,543 | €23,827 | +€13,284 | +126.0% |
| Recurring financial income | 75 | €10,543 | €23,827 | +€13,284 | +126.0% |
| Financial charges | 65/66B | -€11,177 | €7,417 | +€18,594 | |
| Recurring financial charges | 65 | -€11,177 | €7,417 | +€18,594 | |
| Profit (loss) for the period before taxes | 9903 | €251,766 | €231,552 | -€20,214 | -8.0% |
| Income taxes | 67/77 | €62,744 | €60,812 | -€1,932 | -3.1% |
| Profit (loss) for the period | 9904 | €189,022 | €170,740 | -€18,282 | -9.7% |
| Transfer from tax-exempt reserves | 789 | €75,359 | €30,733 | -€44,626 | -59.2% |
| Transfer to tax-exempt reserves | 689 | €21,050 | €0 | -€21,050 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €243,331 | €201,473 | -€41,858 | -17.2% |
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 7 October 2026 via checked.be.