MACNASH ASSOCIATES: 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.
MACNASH ASSOCIATES
Largest movements
- Receivables within one year +€19,562
up €19,562 (+31.3%), from €62,447 to €82,009
of which Other amounts receivable: +€21,154
- Cash -€7,930
down €7,930 (-56.5%), from €14,024 to €6,095
mainly Receivables within one year (-€19,562) and Tax, wage and social debts (-€7,786)
- Intangible fixed assets -€3,683
down €3,683 (-41.2%), from €8,933 to €5,250
- Tangible fixed assets -€2,550
down €2,550 (-68.2%), from €3,741 to €1,191
of which Other tangible fixed assets: -€1,796
- Trade debts +€18,352
up €18,352 (+104%), from €17,678 to €36,030
- Tax, wage and social debts -€7,786
down €7,786 (-57.5%), from €13,550 to €5,764
- Profit (loss) carried forward -€5,167
down €5,167, from €689 to -€4,478
- Gross operating margin -€23,497
down €23,497 (-91.4%), from €25,717 to €2,220
- Taxes -€5,764
down €5,764 (-100%), from €5,764 to €0
- Financial charges -€1,119
down €1,119 (-59.7%), from €1,872 to €754
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 | €103,178 | €108,577 | +€5,399 | +5.2% |
| Fixed assets | 21/28 | €12,834 | €6,601 | -€6,233 | -48.6% |
| Intangible fixed assets | 21 | €8,933 | €5,250 | -€3,683 | -41.2% |
| Tangible fixed assets | 22/27 | €3,741 | €1,191 | -€2,550 | -68.2% |
| Furniture and vehicles | 24 | €1,000 | €246 | -€754 | -75.4% |
| Other tangible fixed assets | 26 | €2,741 | €945 | -€1,796 | -65.5% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €90,345 | €101,977 | +€11,632 | +12.9% |
| Amounts receivable after more than one year | 29 | €13,873 | €13,873 | = | 0.0% |
| Other amounts receivable | 291 | €13,873 | €13,873 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €62,447 | €82,009 | +€19,562 | +31.3% |
| Trade receivables | 40 | €12,375 | €10,783 | -€1,592 | -12.9% |
| Other amounts receivable | 41 | €50,072 | €71,226 | +€21,154 | +42.2% |
| Cash at bank and in hand | 54/58 | €14,024 | €6,095 | -€7,930 | -56.5% |
| Total equity and liabilities | 10/49 | €103,178 | €108,577 | +€5,399 | +5.2% |
| Equity | 10/15 | €54,264 | €49,097 | -€5,167 | -9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €34,975 | €34,975 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €33,115 | €33,115 | = | 0.0% |
| Profit (loss) carried forward | 14 | €689 | -€4,478 | -€5,167 | |
| Amounts payable | 17/49 | €48,915 | €59,481 | +€10,566 | +21.6% |
| Amounts payable within one year | 42/48 | €48,915 | €59,481 | +€10,566 | +21.6% |
| Trade debts | 44 | €17,678 | €36,030 | +€18,352 | +104% |
| Suppliers | 440/4 | €17,678 | €36,030 | +€18,352 | +104% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €13,550 | €5,764 | -€7,786 | -57.5% |
| Taxes | 450/3 | €13,550 | €5,764 | -€7,786 | -57.5% |
| Other amounts payable | 47/48 | €17,686 | €17,686 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,455 | €6,233 | -€222 | -3.4% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €25,717 | €2,220 | -€23,497 | -91.4% |
| Operating profit (loss) | 9901 | €18,875 | -€4,413 | -€23,288 | |
| Financial charges | 65/66B | €1,872 | €754 | -€1,119 | -59.7% |
| Recurring financial charges | 65 | €1,872 | €754 | -€1,119 | -59.7% |
| Profit (loss) for the period before taxes | 9903 | €17,002 | -€5,167 | -€22,169 | |
| Income taxes | 67/77 | €5,764 | €0 | -€5,764 | -100% |
| Profit (loss) for the period | 9904 | €11,238 | -€5,167 | -€16,405 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,238 | -€5,167 | -€16,405 |
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 20 October 2026 via checked.be.