MACLUG: 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.
MACLUG
Largest movements
- Cash +€16,538
up €16,538 (+53.2%), from €31,113 to €47,652
mainly Net result for the year (+€30,841) and Receivables within one year (+€15,239)
- Receivables within one year -€15,239
down €15,239 (-47.9%), from €31,808 to €16,569
of which Trade receivables: -€15,173
- Tangible fixed assets -€5,858
down €5,858 (-26.8%), from €21,896 to €16,038
- Other debts -€32,867
down €32,867 (-87.2%), from €37,692 to €4,825
- Profit (loss) carried forward +€30,841
up €30,841 (+2053.5%), from €1,502 to €32,343
- Current portion of long-term debt -€8,543
no longer reported in 2025 (was €8,543)
- Tax, wage and social debts +€5,100
up €5,100 (+31.9%), from €15,994 to €21,094
of which Taxes: +€5,085
- Gross operating margin -€11,210
down €11,210 (-17.2%), from €65,009 to €53,799
- Taxes -€1,780
down €1,780 (-16.2%), from €11,011 to €9,230
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 | €85,859 | €81,061 | -€4,798 | -5.6% |
| Fixed assets | 21/28 | €21,993 | €16,135 | -€5,858 | -26.6% |
| Tangible fixed assets | 22/27 | €21,896 | €16,038 | -€5,858 | -26.8% |
| Furniture and vehicles | 24 | €21,896 | €16,038 | -€5,858 | -26.8% |
| Financial fixed assets | 28 | €97 | €97 | = | 0.0% |
| Current assets | 29/58 | €63,866 | €64,925 | +€1,060 | +1.7% |
| Amounts receivable within one year | 40/41 | €31,808 | €16,569 | -€15,239 | -47.9% |
| Trade receivables | 40 | €30,855 | €15,682 | -€15,173 | -49.2% |
| Other amounts receivable | 41 | €953 | €887 | -€66 | -6.9% |
| Cash at bank and in hand | 54/58 | €31,113 | €47,652 | +€16,538 | +53.2% |
| Deferred charges and accrued income | 490/1 | €944 | €705 | -€239 | -25.4% |
| Total equity and liabilities | 10/49 | €85,859 | €81,061 | -€4,798 | -5.6% |
| Equity | 10/15 | €20,169 | €51,010 | +€30,841 | +152.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €117 | €117 | = | 0.0% |
| Tax-exempt reserves | 132 | €117 | €117 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,502 | €32,343 | +€30,841 | +2053.5% |
| Amounts payable | 17/49 | €65,690 | €30,051 | -€35,640 | -54.3% |
| Amounts payable within one year | 42/48 | €65,690 | €30,051 | -€35,640 | -54.3% |
| Current portion of amounts payable after more than one year | 42 | €8,543 | - | -€8,543 | |
| Trade debts | 44 | €3,462 | €4,132 | +€670 | +19.4% |
| Suppliers | 440/4 | €3,462 | €4,132 | +€670 | +19.4% |
| Taxes, remuneration and social security | 45 | €15,994 | €21,094 | +€5,100 | +31.9% |
| Taxes | 450/3 | €13,386 | €18,471 | +€5,085 | +38.0% |
| Remuneration and social security | 454/9 | €2,608 | €2,623 | +€15 | +0.6% |
| Other amounts payable | 47/48 | €37,692 | €4,825 | -€32,867 | -87.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,464 | €12,478 | +€15 | +0.1% |
| Other operating charges | 640/8 | €1,127 | €921 | -€205 | -18.2% |
| Gross operating margin | 9900 | €65,009 | €53,799 | -€11,210 | -17.2% |
| Operating profit (loss) | 9901 | €51,418 | €40,400 | -€11,019 | -21.4% |
| Financial income | 75/76B | €16 | €69 | +€53 | +326.3% |
| Recurring financial income | 75 | €16 | €69 | +€53 | +326.3% |
| Financial charges | 65/66B | €385 | €397 | +€12 | +3.2% |
| Recurring financial charges | 65 | €385 | €397 | +€12 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €51,050 | €40,072 | -€10,978 | -21.5% |
| Income taxes | 67/77 | €11,011 | €9,230 | -€1,780 | -16.2% |
| Profit (loss) for the period | 9904 | €40,039 | €30,841 | -€9,198 | -23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,039 | €30,841 | -€9,198 | -23.0% |
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 11 October 2026 via checked.be.