MACK MANAGEMENT: 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.
MACK MANAGEMENT
Largest movements
- Tangible fixed assets +€44,305
up €44,305 (+52.3%), from €84,637 to €128,942
of which Land and buildings: +€56,159
- Cash +€22,709
up €22,709 (+313%), from €7,259 to €29,968
mainly Net result for the year (+€39,378) and Debts after one year (+€20,323)
- Receivables within one year +€5,176
up €5,176 (+34.3%), from €15,094 to €20,270
of which Trade receivables: +€5,174
- Reserves +€39,378
up €39,378 (+101%), from €39,159 to €78,538
- Debts after one year +€20,323
new in 2025: €20,323
- Current portion of long-term debt +€10,603
new in 2025: €10,603
- Tax, wage and social debts +€5,220
up €5,220 (+48.1%), from €10,855 to €16,075
of which Taxes: +€5,220
- Depreciation +€4,405
up €4,405 (+42.2%), from €10,436 to €14,841
- Gross operating margin +€3,481
up €3,481 (+5.5%), from €63,260 to €66,741
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 | €106,989 | €180,894 | +€73,905 | +69.1% |
| Fixed assets | 21/28 | €84,637 | €128,942 | +€44,305 | +52.3% |
| Tangible fixed assets | 22/27 | €84,637 | €128,942 | +€44,305 | +52.3% |
| Land and buildings | 22 | €35,246 | €91,405 | +€56,159 | +159% |
| Furniture and vehicles | 24 | €49,390 | €37,537 | -€11,854 | -24.0% |
| Current assets | 29/58 | €22,353 | €51,952 | +€29,600 | +132% |
| Amounts receivable within one year | 40/41 | €15,094 | €20,270 | +€5,176 | +34.3% |
| Trade receivables | 40 | €15,094 | €20,268 | +€5,174 | +34.3% |
| Other amounts receivable | 41 | - | €3 | +€3 | |
| Cash at bank and in hand | 54/58 | €7,259 | €29,968 | +€22,709 | +313% |
| Deferred charges and accrued income | 490/1 | - | €1,714 | +€1,714 | |
| Total equity and liabilities | 10/49 | €106,989 | €180,894 | +€73,905 | +69.1% |
| Equity | 10/15 | €41,659 | €81,038 | +€39,378 | +94.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €39,159 | €78,538 | +€39,378 | +101% |
| Distributable reserves | 133 | €39,159 | €78,538 | +€39,378 | +101% |
| Amounts payable | 17/49 | €65,330 | €99,856 | +€34,526 | +52.8% |
| Amounts payable after more than one year | 17 | - | €20,323 | +€20,323 | |
| Financial debts | 170/4 | - | €20,323 | +€20,323 | |
| Amounts payable within one year | 42/48 | €65,162 | €79,354 | +€14,192 | +21.8% |
| Current portion of amounts payable after more than one year | 42 | - | €10,603 | +€10,603 | |
| Trade debts | 44 | €3,473 | €2,635 | -€839 | -24.1% |
| Suppliers | 440/4 | €3,473 | €2,635 | -€839 | -24.1% |
| Taxes, remuneration and social security | 45 | €10,855 | €16,075 | +€5,220 | +48.1% |
| Taxes | 450/3 | €7,605 | €12,825 | +€5,220 | +68.6% |
| Remuneration and social security | 454/9 | €3,250 | €3,250 | = | 0.0% |
| Other amounts payable | 47/48 | €50,833 | €50,040 | -€793 | -1.6% |
| Accrued charges and deferred income | 492/3 | €168 | €179 | +€11 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,436 | €14,841 | +€4,405 | +42.2% |
| Other operating charges | 640/8 | €564 | €457 | -€107 | -18.9% |
| Gross operating margin | 9900 | €63,260 | €66,741 | +€3,481 | +5.5% |
| Operating profit (loss) | 9901 | €52,261 | €51,443 | -€818 | -1.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -50.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -50.0% |
| Financial charges | 65/66B | - | €359 | +€359 | |
| Recurring financial charges | 65 | - | €359 | +€359 | |
| Profit (loss) for the period before taxes | 9903 | €52,261 | €51,084 | -€1,177 | -2.3% |
| Income taxes | 67/77 | €12,269 | €11,705 | -€563 | -4.6% |
| Profit (loss) for the period | 9904 | €39,992 | €39,378 | -€614 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,992 | €39,378 | -€614 | -1.5% |
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 18 October 2026 via checked.be.