MACINVESTMENT: 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.
MACINVESTMENT
Largest movements
- Receivables within one year -€57,036
down €57,036 (-55.9%), from €101,987 to €44,950
of which Trade receivables: -€43,683
- Cash -€14,034
down €14,034 (-71.2%), from €19,724 to €5,690
mainly Trade debts (-€42,502) and Net result for the year (-€36,180)
- Tangible fixed assets -€3,328
down €3,328 (-37.0%), from €8,989 to €5,661
of which Furniture and vehicles: -€2,291
- Trade debts -€42,502
down €42,502 (-64.4%), from €66,006 to €23,503
- Profit (loss) carried forward -€36,180
down €36,180 (-95.8%), from €37,785 to €1,604
- Tax, wage and social debts +€4,089
up €4,089 (+17.4%), from €23,546 to €27,634
of which Taxes: +€4,436
- Current portion of long-term debt -€1,860
no longer reported in 2025 (was €1,860)
- Gross operating margin -€80,659
down €80,659 (-74.4%), from €108,480 to €27,821
- Taxes -€10,275
down €10,275 (-94.0%), from €10,929 to €654
- Staff costs -€3,391
down €3,391 (-5.8%), from €58,680 to €55,289
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 | €134,195 | €57,742 | -€76,454 | -57.0% |
| Fixed assets | 21/28 | €11,170 | €6,842 | -€4,328 | -38.7% |
| Intangible fixed assets | 21 | €1,781 | €781 | -€1,000 | -56.2% |
| Tangible fixed assets | 22/27 | €8,989 | €5,661 | -€3,328 | -37.0% |
| Plant, machinery and equipment | 23 | €1,771 | €733 | -€1,038 | -58.6% |
| Furniture and vehicles | 24 | €7,218 | €4,928 | -€2,291 | -31.7% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €123,026 | €50,900 | -€72,125 | -58.6% |
| Amounts receivable within one year | 40/41 | €101,987 | €44,950 | -€57,036 | -55.9% |
| Trade receivables | 40 | €52,464 | €8,781 | -€43,683 | -83.3% |
| Other amounts receivable | 41 | €49,523 | €36,169 | -€13,354 | -27.0% |
| Cash at bank and in hand | 54/58 | €19,724 | €5,690 | -€14,034 | -71.2% |
| Deferred charges and accrued income | 490/1 | €1,315 | €260 | -€1,055 | -80.2% |
| Total equity and liabilities | 10/49 | €134,195 | €57,742 | -€76,454 | -57.0% |
| Equity | 10/15 | €42,785 | €6,604 | -€36,180 | -84.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,785 | €1,604 | -€36,180 | -95.8% |
| Amounts payable | 17/49 | €91,411 | €51,138 | -€40,273 | -44.1% |
| Amounts payable within one year | 42/48 | €91,411 | €51,138 | -€40,273 | -44.1% |
| Current portion of amounts payable after more than one year | 42 | €1,860 | - | -€1,860 | |
| Trade debts | 44 | €66,006 | €23,503 | -€42,502 | -64.4% |
| Suppliers | 440/4 | €66,006 | €23,503 | -€42,502 | -64.4% |
| Taxes, remuneration and social security | 45 | €23,546 | €27,634 | +€4,089 | +17.4% |
| Taxes | 450/3 | €16,469 | €20,905 | +€4,436 | +26.9% |
| Remuneration and social security | 454/9 | €7,077 | €6,729 | -€348 | -4.9% |
| Remuneration, social security and pensions | 62 | €58,680 | €55,289 | -€3,391 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,087 | €6,328 | +€241 | +4.0% |
| Other operating charges | 640/8 | €1,873 | €1,925 | +€52 | +2.8% |
| Gross operating margin | 9900 | €108,480 | €27,821 | -€80,659 | -74.4% |
| Operating profit (loss) | 9901 | €41,840 | -€35,722 | -€77,561 | |
| Financial income | 75/76B | €2,324 | €1,701 | -€622 | -26.8% |
| Recurring financial income | 75 | €2,324 | €1,701 | -€622 | -26.8% |
| Financial charges | 65/66B | €1,065 | €1,506 | +€441 | +41.4% |
| Recurring financial charges | 65 | €1,065 | €1,506 | +€441 | +41.4% |
| Profit (loss) for the period before taxes | 9903 | €43,099 | -€35,526 | -€78,625 | |
| Income taxes | 67/77 | €10,929 | €654 | -€10,275 | -94.0% |
| Profit (loss) for the period | 9904 | €32,170 | -€36,180 | -€68,350 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,170 | -€36,180 | -€68,350 |
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.