MACON: 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.
MACON
Largest movements
- Financial fixed assets +€44,816
up €44,816 (+87.3%), from €51,327 to €96,143
- Receivables within one year +€20,413
up €20,413 (+65.5%), from €31,151 to €51,563
of which Other amounts receivable: +€22,500
- Cash -€9,595
down €9,595 (-17.5%), from €54,879 to €45,284
mainly Investment in fixed assets (net) (-€55,441) and Receivables within one year (-€20,413)
- Reserves +€48,386
up €48,386 (+35.6%), from €135,942 to €184,328
of which Distributable reserves: +€48,386
- Tax, wage and social debts +€14,590
up €14,590 (+362.5%), from €4,025 to €18,614
of which Taxes: +€13,473
- Trade debts -€12,986
down €12,986 (-64.3%), from €20,207 to €7,221
- Other debts +€4,983
up €4,983 (+20.1%), from €24,843 to €29,826
- Gross operating margin +€25,661
up €25,661 (+42.6%), from €60,247 to €85,909
- Taxes +€5,569
up €5,569 (+32.0%), from €17,386 to €22,955
- Depreciation -€4,642
down €4,642 (-28.9%), from €16,062 to €11,420
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 | €205,686 | €260,525 | +€54,838 | +26.7% |
| Fixed assets | 21/28 | €119,656 | €163,677 | +€44,021 | +36.8% |
| Tangible fixed assets | 22/27 | €68,329 | €67,535 | -€795 | -1.2% |
| Land and buildings | 22 | €64,282 | €65,441 | +€1,158 | +1.8% |
| Plant, machinery and equipment | 23 | €704 | €0 | -€704 | -100.0% |
| Furniture and vehicles | 24 | €3,343 | €2,094 | -€1,249 | -37.4% |
| Financial fixed assets | 28 | €51,327 | €96,143 | +€44,816 | +87.3% |
| Current assets | 29/58 | €86,030 | €96,847 | +€10,817 | +12.6% |
| Amounts receivable within one year | 40/41 | €31,151 | €51,563 | +€20,413 | +65.5% |
| Trade receivables | 40 | €23,310 | €21,223 | -€2,087 | -9.0% |
| Other amounts receivable | 41 | €7,840 | €30,340 | +€22,500 | +287.0% |
| Cash at bank and in hand | 54/58 | €54,879 | €45,284 | -€9,595 | -17.5% |
| Total equity and liabilities | 10/49 | €205,686 | €260,525 | +€54,838 | +26.7% |
| Equity | 10/15 | €154,542 | €202,928 | +€48,386 | +31.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €135,942 | €184,328 | +€48,386 | +35.6% |
| Tax-exempt reserves | 132 | €438 | €438 | = | 0.0% |
| Distributable reserves | 133 | €135,504 | €183,890 | +€48,386 | +35.7% |
| Amounts payable | 17/49 | €51,145 | €57,597 | +€6,452 | +12.6% |
| Amounts payable within one year | 42/48 | €49,075 | €55,661 | +€6,587 | +13.4% |
| Trade debts | 44 | €20,207 | €7,221 | -€12,986 | -64.3% |
| Suppliers | 440/4 | €20,207 | €7,221 | -€12,986 | -64.3% |
| Taxes, remuneration and social security | 45 | €4,025 | €18,614 | +€14,590 | +362.5% |
| Taxes | 450/3 | €4,025 | €17,498 | +€13,473 | +334.8% |
| Remuneration and social security | 454/9 | - | €1,116 | +€1,116 | |
| Other amounts payable | 47/48 | €24,843 | €29,826 | +€4,983 | +20.1% |
| Accrued charges and deferred income | 492/3 | €2,070 | €1,935 | -€134 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,062 | €11,420 | -€4,642 | -28.9% |
| Other operating charges | 640/8 | €866 | €1,137 | +€271 | +31.3% |
| Gross operating margin | 9900 | €60,247 | €85,909 | +€25,661 | +42.6% |
| Operating profit (loss) | 9901 | €43,319 | €73,351 | +€30,033 | +69.3% |
| Financial charges | 65/66B | €2,161 | €2,010 | -€151 | -7.0% |
| Recurring financial charges | 65 | €2,161 | €2,010 | -€151 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €41,158 | €71,341 | +€30,184 | +73.3% |
| Income taxes | 67/77 | €17,386 | €22,955 | +€5,569 | +32.0% |
| Profit (loss) for the period | 9904 | €23,772 | €48,386 | +€24,615 | +103.5% |
| Profit (loss) for the period to be appropriated | 9905 | €23,772 | €48,386 | +€24,615 | +103.5% |
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 30 September 2026 via checked.be.