MACO: 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.
MACO
Largest movements
- Stocks and contracts +€717,500
up €717,500 (+108.8%), from €659,500 to €1.4m
- Cash -€654,118
down €654,118 (-44.3%), from €1.5m to €823,779
mainly Stocks and contracts (-€717,500) and Net result for the year (-€25,779)
- Trade debts +€77,370
up €77,370 (+386.9%), from €20,000 to €97,370
- Other operating charges +€26,572
up €26,572 (+114.2%), from €23,268 to €49,841
- Gross operating margin -€16,323
down €16,323 (-40.2%), from €40,606 to €24,283
- Financial charges -€15,377
down €15,377 (-55.1%), from €27,907 to €12,531
- Financial income +€3,354
up €3,354 (+37.5%), from €8,955 to €12,309
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,076,763 | €3,143,838 | +€67,075 | +2.2% |
| Current assets | 29/58 | €3,076,763 | €3,143,838 | +€67,075 | +2.2% |
| Stocks and contracts in progress | 3 | €659,500 | €1,377,000 | +€717,500 | +108.8% |
| Stocks | 30/36 | €659,500 | €1,377,000 | +€717,500 | +108.8% |
| Amounts receivable within one year | 40/41 | €338 | €4,031 | +€3,693 | +1091.7% |
| Other amounts receivable | 41 | €338 | €4,031 | +€3,693 | +1091.7% |
| Current investments | 50/53 | €939,028 | €939,028 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,477,896 | €823,779 | -€654,118 | -44.3% |
| Total equity and liabilities | 10/49 | €3,076,763 | €3,143,838 | +€67,075 | +2.2% |
| Equity | 10/15 | €2,746,503 | €2,720,724 | -€25,779 | -0.9% |
| Contributions | 10/11 | €3,512,000 | €3,512,000 | = | 0.0% |
| Capital | 10 | €3,512,000 | €3,512,000 | = | 0.0% |
| Issued capital | 100 | €3,512,000 | €3,512,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€765,497 | -€791,276 | -€25,779 | -3.4% |
| Amounts payable | 17/49 | €330,259 | €423,114 | +€92,854 | +28.1% |
| Amounts payable after more than one year | 17 | €306,731 | €318,585 | +€11,855 | +3.9% |
| Financial debts | 170/4 | €306,731 | €315,585 | +€8,855 | +2.9% |
| Other amounts payable | 178/9 | - | €3,000 | +€3,000 | |
| Amounts payable within one year | 42/48 | €23,529 | €104,529 | +€81,000 | +344.3% |
| Trade debts | 44 | €20,000 | €97,370 | +€77,370 | +386.9% |
| Suppliers | 440/4 | €20,000 | €97,370 | +€77,370 | +386.9% |
| Taxes, remuneration and social security | 45 | €3,529 | €7,158 | +€3,629 | +102.8% |
| Taxes | 450/3 | €3,529 | €7,158 | +€3,629 | +102.8% |
| Other operating charges | 640/8 | €23,268 | €49,841 | +€26,572 | +114.2% |
| Gross operating margin | 9900 | €40,606 | €24,283 | -€16,323 | -40.2% |
| Operating profit (loss) | 9901 | €17,338 | -€25,558 | -€42,896 | |
| Financial income | 75/76B | €8,955 | €12,309 | +€3,354 | +37.5% |
| Recurring financial income | 75 | €8,955 | €12,309 | +€3,354 | +37.5% |
| Financial charges | 65/66B | €27,907 | €12,531 | -€15,377 | -55.1% |
| Recurring financial charges | 65 | €27,907 | €12,531 | -€15,377 | -55.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,615 | -€25,779 | -€24,165 | -1496.5% |
| Profit (loss) for the period | 9904 | -€1,615 | -€25,779 | -€24,165 | -1496.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,615 | -€25,779 | -€24,165 | -1496.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.