MACO B.M.G.: 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 B.M.G.
Largest movements
- Tangible fixed assets -€27,774
down €27,774 (-27.1%), from €102,352 to €74,578
of which Furniture and vehicles: -€39,716
- Cash +€27,748
up €27,748 (+31.4%), from €88,347 to €116,095
mainly Depreciation (+€38,274) and Trade debts (+€13,808)
- Receivables within one year +€12,839
up €12,839 (+59.6%), from €21,531 to €34,370
of which Trade receivables: +€16,123
- Trade debts +€13,808
up €13,808 (+66.0%), from €20,931 to €34,740
- Debts after one year -€10,929
down €10,929 (-41.4%), from €26,429 to €15,500
of which Financial debts: -€11,429
- Reserves +€9,106
up €9,106 (+7.7%), from €118,720 to €127,826
of which Distributable reserves: +€9,751
- Depreciation +€4,111
up €4,111 (+12.0%), from €34,163 to €38,274
- Taxes -€1,138
down €1,138 (-65.3%), from €1,743 to €605
- Gross operating margin +€828
up €828 (+1.6%), from €50,395 to €51,224
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 | €212,230 | €225,042 | +€12,813 | +6.0% |
| Fixed assets | 21/28 | €102,352 | €74,578 | -€27,774 | -27.1% |
| Tangible fixed assets | 22/27 | €102,352 | €74,578 | -€27,774 | -27.1% |
| Plant, machinery and equipment | 23 | €62,635 | €74,578 | +€11,942 | +19.1% |
| Furniture and vehicles | 24 | €39,716 | €0 | -€39,716 | -100% |
| Current assets | 29/58 | €109,878 | €150,464 | +€40,587 | +36.9% |
| Amounts receivable within one year | 40/41 | €21,531 | €34,370 | +€12,839 | +59.6% |
| Trade receivables | 40 | €16,789 | €32,912 | +€16,123 | +96.0% |
| Other amounts receivable | 41 | €4,741 | €1,457 | -€3,284 | -69.3% |
| Cash at bank and in hand | 54/58 | €88,347 | €116,095 | +€27,748 | +31.4% |
| Total equity and liabilities | 10/49 | €212,230 | €225,042 | +€12,813 | +6.0% |
| Equity | 10/15 | €148,720 | €158,826 | +€10,106 | +6.8% |
| Contributions | 10/11 | €30,000 | €31,000 | +€1,000 | +3.3% |
| Contributions outside capital | 11 | €30,000 | - | -€30,000 | |
| Other | 1109/19 | €30,000 | - | -€30,000 | |
| Reserves | 13 | €118,720 | €127,826 | +€9,106 | +7.7% |
| Non-distributable reserves | 130/1 | €1,730 | €1,730 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,730 | €1,730 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,960 | €9,314 | -€645 | -6.5% |
| Distributable reserves | 133 | €107,030 | €116,781 | +€9,751 | +9.1% |
| Provisions and deferred taxes | 16 | €3,320 | €3,105 | -€215 | -6.5% |
| Deferred taxes | 168 | €3,320 | €3,105 | -€215 | -6.5% |
| Amounts payable | 17/49 | €60,190 | €63,112 | +€2,922 | +4.9% |
| Amounts payable after more than one year | 17 | €26,429 | €15,500 | -€10,929 | -41.4% |
| Financial debts | 170/4 | €11,429 | €0 | -€11,429 | -100% |
| Other amounts payable | 178/9 | €15,000 | €15,500 | +€500 | +3.3% |
| Amounts payable within one year | 42/48 | €33,103 | €46,912 | +€13,808 | +41.7% |
| Current portion of amounts payable after more than one year | 42 | €11,429 | €11,429 | -€0 | 0.0% |
| Trade debts | 44 | €20,931 | €34,740 | +€13,808 | +66.0% |
| Suppliers | 440/4 | €20,931 | €34,740 | +€13,808 | +66.0% |
| Taxes, remuneration and social security | 45 | €743 | €743 | = | 0.0% |
| Taxes | 450/3 | €743 | €743 | = | 0.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €658 | €700 | +€42 | +6.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €2,750 | €2,850 | +€100 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,163 | €38,274 | +€4,111 | +12.0% |
| Other operating charges | 640/8 | €513 | €636 | +€123 | +24.0% |
| Gross operating margin | 9900 | €50,395 | €51,224 | +€828 | +1.6% |
| Operating profit (loss) | 9901 | €12,970 | €9,463 | -€3,507 | -27.0% |
| Financial income | 75/76B | €492 | €497 | +€5 | +1.0% |
| Recurring financial income | 75 | €492 | €497 | +€5 | +1.0% |
| Financial charges | 65/66B | €617 | €464 | -€153 | -24.8% |
| Recurring financial charges | 65 | €617 | €464 | -€153 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €12,845 | €9,496 | -€3,349 | -26.1% |
| Transfer from deferred taxes | 780 | €215 | €215 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €1,743 | €605 | -€1,138 | -65.3% |
| Profit (loss) for the period | 9904 | €11,316 | €9,106 | -€2,210 | -19.5% |
| Transfer from tax-exempt reserves | 789 | €645 | €645 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €11,961 | €9,751 | -€2,210 | -18.5% |
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 30 October 2026 via checked.be.