Maco: 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.
Maco
Largest movements
- Tangible fixed assets +€13,406
up €13,406 (+51.8%), from €25,859 to €39,266
of which Plant, machinery and equipment: +€14,349
- Cash -€6,624
down €6,624 (-16.5%), from €40,064 to €33,439
mainly Investment in fixed assets (net) (-€27,232) and Debts after one year (-€10,016)
- Stocks and contracts -€3,792
down €3,792 (-35.0%), from €10,836 to €7,043
- Profit (loss) carried forward +€12,753
up €12,753 (+31.2%), from €40,811 to €53,564
- Debts after one year -€10,016
down €10,016 (-55.1%), from €18,175 to €8,160
- Trade debts -€4,180
down €4,180 (-39.8%), from €10,499 to €6,319
- Tax, wage and social debts +€2,670
up €2,670 (+23.0%), from €11,600 to €14,270
of which Taxes: +€7,770
- Advances received +€2,000
new in 2025: €2,000
- Gross operating margin +€7,017
up €7,017 (+23.7%), from €29,643 to €36,661
- Financial charges +€4,480
up €4,480 (+1,538%), from €291 to €4,772
- Staff costs -€1,889
no longer reported in 2025 (was €1,889)
- Taxes +€979
up €979 (+28.8%), from €3,402 to €4,382
- Depreciation +€637
up €637 (+4.8%), from €13,189 to €13,826
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 | €109,878 | €113,106 | +€3,227 | +2.9% |
| Fixed assets | 21/28 | €25,859 | €39,266 | +€13,406 | +51.8% |
| Tangible fixed assets | 22/27 | €25,859 | €39,266 | +€13,406 | +51.8% |
| Plant, machinery and equipment | 23 | €7,758 | €22,107 | +€14,349 | +185% |
| Furniture and vehicles | 24 | €15,263 | €5,249 | -€10,014 | -65.6% |
| Other tangible fixed assets | 26 | €2,838 | €11,910 | +€9,072 | +320% |
| Current assets | 29/58 | €84,019 | €73,840 | -€10,179 | -12.1% |
| Stocks and contracts in progress | 3 | €10,836 | €7,043 | -€3,792 | -35.0% |
| Stocks | 30/36 | €10,836 | €7,043 | -€3,792 | -35.0% |
| Amounts receivable within one year | 40/41 | €29,958 | €30,229 | +€271 | +0.9% |
| Trade receivables | 40 | €23,867 | €28,729 | +€4,862 | +20.4% |
| Other amounts receivable | 41 | €6,092 | €1,500 | -€4,592 | -75.4% |
| Cash at bank and in hand | 54/58 | €40,064 | €33,439 | -€6,624 | -16.5% |
| Deferred charges and accrued income | 490/1 | €3,161 | €3,128 | -€33 | -1.0% |
| Total equity and liabilities | 10/49 | €109,878 | €113,106 | +€3,227 | +2.9% |
| Equity | 10/15 | €69,604 | €82,356 | +€12,753 | +18.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €8,793 | €8,793 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €6,793 | €6,793 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,811 | €53,564 | +€12,753 | +31.2% |
| Amounts payable | 17/49 | €40,274 | €30,749 | -€9,525 | -23.7% |
| Amounts payable after more than one year | 17 | €18,175 | €8,160 | -€10,016 | -55.1% |
| Other amounts payable | 178/9 | €18,175 | €8,160 | -€10,016 | -55.1% |
| Amounts payable within one year | 42/48 | €22,099 | €22,590 | +€491 | +2.2% |
| Trade debts | 44 | €10,499 | €6,319 | -€4,180 | -39.8% |
| Suppliers | 440/4 | €10,499 | €6,319 | -€4,180 | -39.8% |
| Advances received on contracts in progress | 46 | - | €2,000 | +€2,000 | |
| Taxes, remuneration and social security | 45 | €11,600 | €14,270 | +€2,670 | +23.0% |
| Taxes | 450/3 | €6,500 | €14,270 | +€7,770 | +120% |
| Remuneration and social security | 454/9 | €5,100 | - | -€5,100 | |
| Remuneration, social security and pensions | 62 | €1,889 | - | -€1,889 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,189 | €13,826 | +€637 | +4.8% |
| Other operating charges | 640/8 | €1,037 | €1,158 | +€121 | +11.7% |
| Gross operating margin | 9900 | €29,643 | €36,661 | +€7,017 | +23.7% |
| Operating profit (loss) | 9901 | €13,529 | €21,677 | +€8,148 | +60.2% |
| Financial income | 75/76B | €459 | €229 | -€230 | -50.1% |
| Recurring financial income | 75 | €459 | €229 | -€230 | -50.1% |
| Financial charges | 65/66B | €291 | €4,772 | +€4,480 | +1,538% |
| Recurring financial charges | 65 | €291 | €4,772 | +€4,480 | +1,538% |
| Profit (loss) for the period before taxes | 9903 | €13,697 | €17,134 | +€3,438 | +25.1% |
| Income taxes | 67/77 | €3,402 | €4,382 | +€979 | +28.8% |
| Profit (loss) for the period | 9904 | €10,294 | €12,753 | +€2,458 | +23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,294 | €12,753 | +€2,458 | +23.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.