MACOFI INTERNATIONAL: 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.
MACOFI INTERNATIONAL
Largest movements
- Cash +€110,018
up €110,018 (+14.5%), from €757,625 to €867,644
mainly Trade debts (+€66,663) and Depreciation (+€56,303)
- Tangible fixed assets -€56,303
down €56,303 (-5.6%), from €1.0m to €951,105
of which Land and buildings: -€55,292
- Deferred charges and accrued income -€19,252
down €19,252 (-92.2%), from €20,878 to €1,626
- Trade debts +€66,663
up €66,663 (+187%), from €35,589 to €102,252
- Other debts -€30,314
down €30,314 (-12.9%), from €234,774 to €204,460
- Profit (loss) carried forward +€23,155
up €23,155 (+2.0%), from -€1.2m to -€1.1m
- Reserves -€21,858
down €21,858 (-1.9%), from €1.1m to €1.1m
of which Tax-exempt reserves: -€21,858
- Gross operating margin +€19,110
up €19,110 (+6.2%), from €309,060 to €328,169
- Taxes +€5,379
up €5,379 (+133%), from €4,048 to €9,427
- Financial income -€4,143
down €4,143 (-49.2%), from €8,421 to €4,278
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 | €1,818,777 | €1,852,496 | +€33,720 | +1.9% |
| Fixed assets | 21/28 | €1,029,834 | €975,121 | -€54,713 | -5.3% |
| Tangible fixed assets | 22/27 | €1,007,408 | €951,105 | -€56,303 | -5.6% |
| Land and buildings | 22 | €1,003,871 | €948,580 | -€55,292 | -5.5% |
| Furniture and vehicles | 24 | €3,537 | €2,525 | -€1,011 | -28.6% |
| Financial fixed assets | 28 | €22,426 | €24,015 | +€1,590 | +7.1% |
| Current assets | 29/58 | €788,943 | €877,376 | +€88,433 | +11.2% |
| Amounts receivable within one year | 40/41 | €10,439 | €8,106 | -€2,333 | -22.4% |
| Trade receivables | 40 | €7,262 | €6,601 | -€661 | -9.1% |
| Other amounts receivable | 41 | €3,178 | €1,505 | -€1,673 | -52.6% |
| Cash at bank and in hand | 54/58 | €757,625 | €867,644 | +€110,018 | +14.5% |
| Deferred charges and accrued income | 490/1 | €20,878 | €1,626 | -€19,252 | -92.2% |
| Total equity and liabilities | 10/49 | €1,818,777 | €1,852,496 | +€33,720 | +1.9% |
| Equity | 10/15 | €1,364,901 | €1,366,198 | +€1,297 | +0.1% |
| Contributions | 10/11 | €1,410,000 | €1,410,000 | = | 0.0% |
| Capital | 10 | €1,410,000 | €1,410,000 | = | 0.0% |
| Issued capital | 100 | €1,410,000 | €1,410,000 | = | 0.0% |
| Reserves | 13 | €1,121,388 | €1,099,530 | -€21,858 | -1.9% |
| Non-distributable reserves | 130/1 | €22,041 | €22,041 | = | 0.0% |
| Legal reserve | 130 | €22,041 | €22,041 | = | 0.0% |
| Tax-exempt reserves | 132 | €341,645 | €319,787 | -€21,858 | -6.4% |
| Distributable reserves | 133 | €757,702 | €757,702 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,166,487 | -€1,143,332 | +€23,155 | +2.0% |
| Provisions and deferred taxes | 16 | €113,882 | €106,596 | -€7,286 | -6.4% |
| Deferred taxes | 168 | €113,882 | €106,596 | -€7,286 | -6.4% |
| Amounts payable | 17/49 | €339,993 | €379,701 | +€39,708 | +11.7% |
| Amounts payable within one year | 42/48 | €301,649 | €348,568 | +€46,918 | +15.6% |
| Trade debts | 44 | €35,589 | €102,252 | +€66,663 | +187% |
| Suppliers | 440/4 | €35,589 | €102,252 | +€66,663 | +187% |
| Taxes, remuneration and social security | 45 | €31,286 | €41,855 | +€10,569 | +33.8% |
| Taxes | 450/3 | - | €9,430 | +€9,430 | |
| Remuneration and social security | 454/9 | €31,286 | €32,425 | +€1,139 | +3.6% |
| Other amounts payable | 47/48 | €234,774 | €204,460 | -€30,314 | -12.9% |
| Accrued charges and deferred income | 492/3 | €38,344 | €31,134 | -€7,210 | -18.8% |
| Remuneration, social security and pensions | 62 | €260,122 | €263,242 | +€3,120 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,304 | €56,303 | -€1 | 0.0% |
| Other operating charges | 640/8 | €9,001 | €9,159 | +€159 | +1.8% |
| Gross operating margin | 9900 | €309,060 | €328,169 | +€19,110 | +6.2% |
| Operating profit (loss) | 9901 | -€16,366 | -€535 | +€15,831 | +96.7% |
| Financial income | 75/76B | €8,421 | €4,278 | -€4,143 | -49.2% |
| Recurring financial income | 75 | €8,421 | €4,278 | -€4,143 | -49.2% |
| Financial charges | 65/66B | €294 | €305 | +€11 | +3.7% |
| Recurring financial charges | 65 | €294 | €305 | +€11 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | -€8,239 | €3,438 | +€11,677 | |
| Transfer from deferred taxes | 780 | €7,286 | €7,286 | = | 0.0% |
| Income taxes | 67/77 | €4,048 | €9,427 | +€5,379 | +133% |
| Profit (loss) for the period | 9904 | -€5,001 | €1,297 | +€6,298 | |
| Transfer from tax-exempt reserves | 789 | €21,858 | €21,858 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,857 | €23,155 | +€6,298 | +37.4% |
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 26 October 2026 via checked.be.