MACOAL: 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.
MACOAL
Largest movements
- Receivables within one year -€22,902
down €22,902 (-59.8%), from €38,298 to €15,396
of which Other amounts receivable: -€27,228
- Current investments +€12,812
new in 2025: €12,812
- Cash +€5,247
up €5,247 (+2.8%), from €186,792 to €192,039
mainly Other debts (+€132,807) and Net result for the year (+€66,284)
- Profit (loss) carried forward -€138,918
down €138,918 (-67.7%), from €205,202 to €66,284
- Other debts +€132,807
new in 2025: €132,807
- Depreciation +€1,188
up €1,188 (+20.6%), from €5,772 to €6,960
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.
Cash bridge derived
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 | €234,375 | €229,012 | -€5,363 | -2.3% |
| Fixed assets | 21/28 | €8,893 | €8,072 | -€821 | -9.2% |
| Tangible fixed assets | 22/27 | €8,893 | €8,072 | -€821 | -9.2% |
| Furniture and vehicles | 24 | €8,893 | €8,072 | -€821 | -9.2% |
| Current assets | 29/58 | €225,482 | €220,940 | -€4,542 | -2.0% |
| Amounts receivable within one year | 40/41 | €38,298 | €15,396 | -€22,902 | -59.8% |
| Trade receivables | 40 | €11,070 | €15,396 | +€4,326 | +39.1% |
| Other amounts receivable | 41 | €27,228 | - | -€27,228 | |
| Current investments | 50/53 | - | €12,812 | +€12,812 | |
| Cash at bank and in hand | 54/58 | €186,792 | €192,039 | +€5,247 | +2.8% |
| Deferred charges and accrued income | 490/1 | €392 | €693 | +€301 | +76.8% |
| Total equity and liabilities | 10/49 | €234,375 | €229,012 | -€5,363 | -2.3% |
| Equity | 10/15 | €219,462 | €80,544 | -€138,918 | -63.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €205,202 | €66,284 | -€138,918 | -67.7% |
| Amounts payable | 17/49 | €14,913 | €148,468 | +€133,554 | +895.5% |
| Amounts payable within one year | 42/48 | €14,913 | €148,468 | +€133,554 | +895.5% |
| Trade debts | 44 | - | €301 | +€301 | |
| Suppliers | 440/4 | - | €301 | +€301 | |
| Taxes, remuneration and social security | 45 | €14,913 | €15,360 | +€447 | +3.0% |
| Taxes | 450/3 | €14,913 | €15,360 | +€447 | +3.0% |
| Other amounts payable | 47/48 | - | €132,807 | +€132,807 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,772 | €6,960 | +€1,188 | +20.6% |
| Other operating charges | 640/8 | €10 | €120 | +€110 | +1075.3% |
| Gross operating margin | 9900 | €96,308 | €96,047 | -€261 | -0.3% |
| Operating profit (loss) | 9901 | €90,526 | €88,967 | -€1,559 | -1.7% |
| Financial income | 75/76B | €1,650 | €1,218 | -€432 | -26.2% |
| Recurring financial income | 75 | €1,650 | €1,218 | -€432 | -26.2% |
| Financial charges | 65/66B | €143 | €113 | -€30 | -21.1% |
| Recurring financial charges | 65 | €143 | €113 | -€30 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €92,033 | €90,072 | -€1,961 | -2.1% |
| Income taxes | 67/77 | €23,857 | €23,788 | -€69 | -0.3% |
| Profit (loss) for the period | 9904 | €68,176 | €66,284 | -€1,892 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €68,176 | €66,284 | -€1,892 | -2.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.