MACLOC: 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.
MACLOC
Largest movements
- Current investments +€193,624
up €193,624 (+29.6%), from €653,643 to €847,267
- Tangible fixed assets +€81,233
up €81,233 (+289.4%), from €28,074 to €109,308
of which Furniture and vehicles: +€77,544
- Cash -€67,300
down €67,300 (-37.5%), from €179,654 to €112,354
mainly Contributions, distributions and other (-€220,201) and Current investments (-€193,624)
- Other debts +€218,046
up €218,046 (+2614.9%), from €8,339 to €226,385
- Reserves -€46,970
down €46,970 (-5.3%), from €879,288 to €832,318
- Trade debts +€20,659
up €20,659 (+5218.6%), from €396 to €21,055
- Depreciation +€6,269
up €6,269 (+31.9%), from €19,680 to €25,949
- Gross operating margin -€5,938
down €5,938 (-2.2%), from €273,724 to €267,786
- Other operating charges +€5,530
up €5,530 (+1257.8%), from €440 to €5,970
- Financial income +€3,619
up €3,619 (+31.1%), from €11,628 to €15,247
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 | €923,195 | €1,112,342 | +€189,147 | +20.5% |
| Fixed assets | 21/28 | €28,074 | €109,308 | +€81,233 | +289.4% |
| Tangible fixed assets | 22/27 | €28,074 | €109,308 | +€81,233 | +289.4% |
| Plant, machinery and equipment | 23 | €8,413 | €12,102 | +€3,689 | +43.9% |
| Furniture and vehicles | 24 | €19,662 | €97,206 | +€77,544 | +394.4% |
| Current assets | 29/58 | €895,121 | €1,003,035 | +€107,914 | +12.1% |
| Stocks and contracts in progress | 3 | €39,290 | €29,880 | -€9,410 | -24.0% |
| Stocks | 30/36 | €39,290 | €29,880 | -€9,410 | -24.0% |
| Amounts receivable within one year | 40/41 | €16,610 | €11,249 | -€5,361 | -32.3% |
| Trade receivables | 40 | €13,497 | €11,249 | -€2,247 | -16.7% |
| Other amounts receivable | 41 | €3,113 | - | -€3,113 | |
| Current investments | 50/53 | €653,643 | €847,267 | +€193,624 | +29.6% |
| Cash at bank and in hand | 54/58 | €179,654 | €112,354 | -€67,300 | -37.5% |
| Deferred charges and accrued income | 490/1 | €5,925 | €2,285 | -€3,640 | -61.4% |
| Total equity and liabilities | 10/49 | €923,195 | €1,112,342 | +€189,147 | +20.5% |
| Equity | 10/15 | €891,688 | €844,718 | -€46,970 | -5.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €879,288 | €832,318 | -€46,970 | -5.3% |
| Distributable reserves | 133 | €879,288 | €832,318 | -€46,970 | -5.3% |
| Amounts payable | 17/49 | €31,508 | €267,625 | +€236,117 | +749.4% |
| Amounts payable within one year | 42/48 | €31,508 | €267,625 | +€236,117 | +749.4% |
| Trade debts | 44 | €396 | €21,055 | +€20,659 | +5218.6% |
| Suppliers | 440/4 | €396 | €21,055 | +€20,659 | +5218.6% |
| Taxes, remuneration and social security | 45 | €22,773 | €20,185 | -€2,588 | -11.4% |
| Taxes | 450/3 | €22,773 | €20,185 | -€2,588 | -11.4% |
| Other amounts payable | 47/48 | €8,339 | €226,385 | +€218,046 | +2614.9% |
| Non-recurring operating income | 76A | €8,141 | €14,037 | +€5,896 | +72.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,680 | €25,949 | +€6,269 | +31.9% |
| Other operating charges | 640/8 | €440 | €5,970 | +€5,530 | +1257.8% |
| Gross operating margin | 9900 | €273,724 | €267,786 | -€5,938 | -2.2% |
| Operating profit (loss) | 9901 | €253,605 | €235,867 | -€17,738 | -7.0% |
| Financial income | 75/76B | €11,628 | €15,247 | +€3,619 | +31.1% |
| Recurring financial income | 75 | €11,628 | €15,247 | +€3,619 | +31.1% |
| Financial charges | 65/66B | €54 | €54 | = | 0.0% |
| Recurring financial charges | 65 | €54 | €54 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €265,179 | €251,060 | -€14,119 | -5.3% |
| Income taxes | 67/77 | €80,463 | €77,830 | -€2,633 | -3.3% |
| Profit (loss) for the period | 9904 | €184,716 | €173,230 | -€11,486 | -6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €184,716 | €173,230 | -€11,486 | -6.2% |
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 5 October 2026 via checked.be.