MACLA: 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.
MACLA
Largest movements
- Cash +€121,638
up €121,638 (+318.2%), from €38,232 to €159,870
mainly Net result for the year (+€224,207) and Other debts (+€105,234)
- Deferred charges and accrued income +€97,217
up €97,217 (+2197.2%), from €4,425 to €101,642
- Receivables within one year -€41,943
down €41,943 (-49.4%), from €84,860 to €42,917
of which Trade receivables: -€30,694
- Tangible fixed assets -€23,917
down €23,917 (-6.3%), from €379,073 to €355,156
of which Land and buildings: -€15,999
- Current investments +€14,267
up €14,267 (+2.4%), from €586,072 to €600,339
- Other debts +€105,234
up €105,234 (+426.5%), from €24,674 to €129,908
- Reserves +€103,149
up €103,149 (+18.9%), from €544,383 to €647,532
- Current portion of long-term debt -€60,121
down €60,121 (-100.0%), from €60,121 to €0
- Tax, wage and social debts +€19,479
up €19,479 (+86.1%), from €22,636 to €42,115
- Gross operating margin +€130,338
up €130,338 (+54.7%), from €238,353 to €368,691
- Taxes +€37,961
up €37,961 (+56.6%), from €67,026 to €104,987
- Financial income +€22,948
up €22,948 (+302.9%), from €7,577 to €30,525
- Financial charges +€11,903
up €11,903 (+62.1%), from €19,178 to €31,080
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 | €1,092,662 | €1,259,924 | +€167,262 | +15.3% |
| Fixed assets | 21/28 | €379,073 | €355,156 | -€23,917 | -6.3% |
| Tangible fixed assets | 22/27 | €379,073 | €355,156 | -€23,917 | -6.3% |
| Land and buildings | 22 | €116,589 | €100,590 | -€15,999 | -13.7% |
| Plant, machinery and equipment | 23 | €240,938 | €230,798 | -€10,140 | -4.2% |
| Furniture and vehicles | 24 | €21,545 | €23,767 | +€2,222 | +10.3% |
| Current assets | 29/58 | €713,589 | €904,768 | +€191,179 | +26.8% |
| Amounts receivable within one year | 40/41 | €84,860 | €42,917 | -€41,943 | -49.4% |
| Trade receivables | 40 | €73,554 | €42,860 | -€30,694 | -41.7% |
| Other amounts receivable | 41 | €11,306 | €57 | -€11,249 | -99.5% |
| Current investments | 50/53 | €586,072 | €600,339 | +€14,267 | +2.4% |
| Cash at bank and in hand | 54/58 | €38,232 | €159,870 | +€121,638 | +318.2% |
| Deferred charges and accrued income | 490/1 | €4,425 | €101,642 | +€97,217 | +2197.2% |
| Total equity and liabilities | 10/49 | €1,092,662 | €1,259,924 | +€167,262 | +15.3% |
| Equity | 10/15 | €972,523 | €1,071,058 | +€98,534 | +10.1% |
| Contributions | 10/11 | €428,140 | €423,525 | -€4,615 | -1.1% |
| Reserves | 13 | €544,383 | €647,532 | +€103,149 | +18.9% |
| Distributable reserves | 133 | €544,383 | €647,532 | +€103,149 | +18.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €120,138 | €188,866 | +€68,728 | +57.2% |
| Amounts payable after more than one year | 17 | €3,000 | €3,000 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €3,000 | €3,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €113,520 | €181,444 | +€67,923 | +59.8% |
| Current portion of amounts payable after more than one year | 42 | €60,121 | €0 | -€60,121 | -100.0% |
| Trade debts | 44 | €6,089 | €9,420 | +€3,332 | +54.7% |
| Suppliers | 440/4 | €6,089 | €9,420 | +€3,332 | +54.7% |
| Taxes, remuneration and social security | 45 | €22,636 | €42,115 | +€19,479 | +86.1% |
| Taxes | 450/3 | €22,636 | €42,115 | +€19,479 | +86.1% |
| Other amounts payable | 47/48 | €24,674 | €129,908 | +€105,234 | +426.5% |
| Accrued charges and deferred income | 492/3 | €3,618 | €4,423 | +€804 | +22.2% |
| Non-recurring operating income | 76A | €22,370 | €0 | -€22,370 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,401 | €32,062 | -€1,340 | -4.0% |
| Other operating charges | 640/8 | €6,784 | €6,880 | +€96 | +1.4% |
| Non-recurring operating charges | 66A | €781 | €0 | -€781 | -100.0% |
| Gross operating margin | 9900 | €238,353 | €368,691 | +€130,338 | +54.7% |
| Operating profit (loss) | 9901 | €197,386 | €329,749 | +€132,363 | +67.1% |
| Financial income | 75/76B | €7,577 | €30,525 | +€22,948 | +302.9% |
| Recurring financial income | 75 | €7,577 | €30,525 | +€22,948 | +302.9% |
| Financial charges | 65/66B | €19,178 | €31,080 | +€11,903 | +62.1% |
| Recurring financial charges | 65 | €19,178 | €31,080 | +€11,903 | +62.1% |
| Profit (loss) for the period before taxes | 9903 | €185,786 | €329,195 | +€143,409 | +77.2% |
| Income taxes | 67/77 | €67,026 | €104,987 | +€37,961 | +56.6% |
| Profit (loss) for the period | 9904 | €118,760 | €224,207 | +€105,447 | +88.8% |
| Profit (loss) for the period to be appropriated | 9905 | €118,760 | €224,207 | +€105,447 | +88.8% |
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.