MACLO: 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.
MACLO
Largest movements
- Tangible fixed assets +€7,916
up €7,916 (+42.0%), from €18,850 to €26,766
of which Plant, machinery and equipment: +€7,430
- Cash -€4,331
down €4,331 (-31.6%), from €13,714 to €9,383
mainly Investment in fixed assets (net) (-€13,877) and Other debts (-€5,240)
- Reserves +€7,860
new in 2025: €7,860
- Other debts -€5,240
down €5,240 (-64.8%), from €8,090 to €2,850
- Trade debts +€1,040
up €1,040 (+139%), from €750 to €1,790
- Gross operating margin +€5,199
up €5,199 (+34.3%), from €15,166 to €20,364
- Depreciation +€2,345
up €2,345 (+64.8%), from €3,617 to €5,961
- Taxes +€871
up €871 (+23.1%), from €3,770 to €4,641
- Other operating charges +€746
up €746 (+85.4%), from €873 to €1,619
- Financial charges +€248
up €248 (+737%), from €34 to €282
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 | €34,878 | €38,616 | +€3,738 | +10.7% |
| Fixed assets | 21/28 | €18,850 | €26,766 | +€7,916 | +42.0% |
| Tangible fixed assets | 22/27 | €18,850 | €26,766 | +€7,916 | +42.0% |
| Plant, machinery and equipment | 23 | €18,515 | €25,945 | +€7,430 | +40.1% |
| Furniture and vehicles | 24 | €335 | €820 | +€486 | +145% |
| Current assets | 29/58 | €16,028 | €11,850 | -€4,178 | -26.1% |
| Amounts receivable within one year | 40/41 | €2,314 | €2,467 | +€153 | +6.6% |
| Trade receivables | 40 | €2,314 | €2,109 | -€205 | -8.9% |
| Other amounts receivable | 41 | - | €359 | +€359 | |
| Cash at bank and in hand | 54/58 | €13,714 | €9,383 | -€4,331 | -31.6% |
| Total equity and liabilities | 10/49 | €34,878 | €38,616 | +€3,738 | +10.7% |
| Equity | 10/15 | €24,034 | €31,896 | +€7,862 | +32.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | - | €7,860 | +€7,860 | |
| Distributable reserves | 133 | - | €7,860 | +€7,860 | |
| Profit (loss) carried forward | 14 | €5,442 | €5,444 | +€2 | 0.0% |
| Amounts payable | 17/49 | €10,844 | €6,720 | -€4,124 | -38.0% |
| Amounts payable within one year | 42/48 | €10,844 | €6,720 | -€4,124 | -38.0% |
| Trade debts | 44 | €750 | €1,790 | +€1,040 | +139% |
| Suppliers | 440/4 | €750 | €1,790 | +€1,040 | +139% |
| Taxes, remuneration and social security | 45 | €2,004 | €2,081 | +€77 | +3.8% |
| Taxes | 450/3 | €2,004 | €2,081 | +€77 | +3.8% |
| Other amounts payable | 47/48 | €8,090 | €2,850 | -€5,240 | -64.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,617 | €5,961 | +€2,345 | +64.8% |
| Other operating charges | 640/8 | €873 | €1,619 | +€746 | +85.4% |
| Gross operating margin | 9900 | €15,166 | €20,364 | +€5,199 | +34.3% |
| Operating profit (loss) | 9901 | €10,676 | €12,785 | +€2,108 | +19.7% |
| Financial charges | 65/66B | €34 | €282 | +€248 | +737% |
| Recurring financial charges | 65 | €34 | €282 | +€248 | +737% |
| Profit (loss) for the period before taxes | 9903 | €10,643 | €12,503 | +€1,860 | +17.5% |
| Income taxes | 67/77 | €3,770 | €4,641 | +€871 | +23.1% |
| Profit (loss) for the period | 9904 | €6,873 | €7,862 | +€989 | +14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,873 | €7,862 | +€989 | +14.4% |
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.