MACMAD: 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.
MACMAD
Largest movements
- Cash -€8,145
down €8,145 (-73.0%), from €11,154 to €3,008
mainly Net result for the year (-€11,646) and Trade debts (-€2,697)
- Receivables within one year -€1,386
down €1,386 (-42.4%), from €3,267 to €1,881
of which Other amounts receivable: -€2,373
- Tangible fixed assets -€892
down €892 (-10.0%), from €8,935 to €8,043
of which Plant, machinery and equipment: -€567
- Deferred charges and accrued income +€250
up €250, from €0 to €250
- Reserves -€12,091
down €12,091 (-100%), from €12,091 to €0
of which Tax-exempt reserves: -€12,091
- Other debts +€4,170
up €4,170 (+150%), from €2,787 to €6,957
- Trade debts -€2,697
down €2,697 (-71.5%), from €3,771 to €1,074
- Profit (loss) carried forward +€446
up €446 (+2.9%), from -€15,438 to -€14,992
- Gross operating margin +€7,583
up €7,583 (+42.3%), from -€17,924 to -€10,341
- Other operating charges -€365
down €365 (-51.6%), from €707 to €342
- Financial charges -€353
down €353 (-83.4%), from €424 to €70
- Depreciation -€319
down €319 (-26.4%), from €1,211 to €892
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 | €23,355 | €13,182 | -€10,173 | -43.6% |
| Fixed assets | 21/28 | €8,935 | €8,043 | -€892 | -10.0% |
| Tangible fixed assets | 22/27 | €8,935 | €8,043 | -€892 | -10.0% |
| Land and buildings | 22 | €5,615 | €5,291 | -€324 | -5.8% |
| Plant, machinery and equipment | 23 | €3,319 | €2,752 | -€567 | -17.1% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €14,420 | €5,139 | -€9,281 | -64.4% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €3,267 | €1,881 | -€1,386 | -42.4% |
| Trade receivables | 40 | €0 | €987 | +€987 | |
| Other amounts receivable | 41 | €3,267 | €894 | -€2,373 | -72.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €11,154 | €3,008 | -€8,145 | -73.0% |
| Deferred charges and accrued income | 490/1 | €0 | €250 | +€250 | |
| Total equity and liabilities | 10/49 | €23,355 | €13,182 | -€10,173 | -43.6% |
| Equity | 10/15 | €16,653 | €5,008 | -€11,646 | -69.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €12,091 | €0 | -€12,091 | -100% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €12,091 | €0 | -€12,091 | -100% |
| Profit (loss) carried forward | 14 | -€15,438 | -€14,992 | +€446 | +2.9% |
| Amounts payable | 17/49 | €6,702 | €8,174 | +€1,473 | +22.0% |
| Amounts payable within one year | 42/48 | €6,702 | €8,174 | +€1,473 | +22.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €3,771 | €1,074 | -€2,697 | -71.5% |
| Suppliers | 440/4 | €3,771 | €1,074 | -€2,697 | -71.5% |
| Taxes, remuneration and social security | 45 | €143 | €143 | = | 0.0% |
| Taxes | 450/3 | €143 | €143 | = | 0.0% |
| Other amounts payable | 47/48 | €2,787 | €6,957 | +€4,170 | +150% |
| Non-recurring operating income | 76A | €5,022 | €0 | -€5,022 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,211 | €892 | -€319 | -26.4% |
| Other operating charges | 640/8 | €707 | €342 | -€365 | -51.6% |
| Gross operating margin | 9900 | -€17,924 | -€10,341 | +€7,583 | +42.3% |
| Operating profit (loss) | 9901 | -€19,842 | -€11,575 | +€8,267 | +41.7% |
| Financial income | 75/76B | €136 | €0 | -€136 | -100% |
| Recurring financial income | 75 | €136 | €0 | -€136 | -100% |
| Financial charges | 65/66B | €424 | €70 | -€353 | -83.4% |
| Recurring financial charges | 65 | €424 | €70 | -€353 | -83.4% |
| Profit (loss) for the period before taxes | 9903 | -€20,130 | -€11,646 | +€8,484 | +42.1% |
| Income taxes | 67/77 | €143 | €0 | -€143 | -100% |
| Profit (loss) for the period | 9904 | -€20,273 | -€11,646 | +€8,627 | +42.6% |
| Transfer from tax-exempt reserves | 789 | - | €12,091 | +€12,091 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,273 | €446 | +€20,718 |
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 13 October 2026 via checked.be.