MACOS: 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.
MACOS
Largest movements
- Receivables within one year -€55,835
down €55,835 (-68.1%), from €81,966 to €26,131
of which Other amounts receivable: -€55,041
- Cash +€28,678
up €28,678 (+37.5%), from €76,492 to €105,170
mainly Receivables within one year (+€55,835) and Net result for the year (+€25,488)
- Reserves -€32,512
down €32,512 (-13.6%), from €239,360 to €206,848
- Tax, wage and social debts +€7,067
up €7,067 (+96.4%), from €7,335 to €14,401
- Gross operating margin -€72,894
down €72,894 (-65.8%), from €110,857 to €37,963
- Taxes -€23,194
down €23,194 (-61.8%), from €37,538 to €14,343
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 | €268,963 | €243,509 | -€25,454 | -9.5% |
| Fixed assets | 21/28 | €23,189 | €22,632 | -€557 | -2.4% |
| Tangible fixed assets | 22/27 | €23,189 | €22,632 | -€557 | -2.4% |
| Furniture and vehicles | 24 | €1,539 | €2,002 | +€464 | +30.1% |
| Other tangible fixed assets | 26 | €21,650 | €20,629 | -€1,021 | -4.7% |
| Current assets | 29/58 | €245,774 | €220,878 | -€24,896 | -10.1% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €81,966 | €26,131 | -€55,835 | -68.1% |
| Trade receivables | 40 | €8,394 | €7,600 | -€794 | -9.5% |
| Other amounts receivable | 41 | €73,571 | €18,531 | -€55,041 | -74.8% |
| Current investments | 50/53 | €47,316 | €48,527 | +€1,211 | +2.6% |
| Cash at bank and in hand | 54/58 | €76,492 | €105,170 | +€28,678 | +37.5% |
| Deferred charges and accrued income | 490/1 | €0 | €1,050 | +€1,050 | |
| Total equity and liabilities | 10/49 | €268,963 | €243,509 | -€25,454 | -9.5% |
| Equity | 10/15 | €259,267 | €226,755 | -€32,512 | -12.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €239,360 | €206,848 | -€32,512 | -13.6% |
| Distributable reserves | 133 | €239,360 | €206,848 | -€32,512 | -13.6% |
| Profit (loss) carried forward | 14 | €13,707 | €13,707 | = | 0.0% |
| Amounts payable | 17/49 | €9,696 | €16,754 | +€7,058 | +72.8% |
| Amounts payable within one year | 42/48 | €9,696 | €16,754 | +€7,058 | +72.8% |
| Trade debts | 44 | €2,362 | €2,353 | -€9 | -0.4% |
| Suppliers | 440/4 | €2,362 | €2,353 | -€9 | -0.4% |
| Taxes, remuneration and social security | 45 | €7,335 | €14,401 | +€7,067 | +96.4% |
| Taxes | 450/3 | €7,335 | €14,401 | +€7,067 | +96.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €10,376 | €0 | -€10,376 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,983 | €3,693 | -€290 | -7.3% |
| Other operating charges | 640/8 | €1,359 | €1,636 | +€277 | +20.4% |
| Gross operating margin | 9900 | €110,857 | €37,963 | -€72,894 | -65.8% |
| Operating profit (loss) | 9901 | €105,515 | €32,634 | -€72,882 | -69.1% |
| Financial income | 75/76B | €8,164 | €7,631 | -€532 | -6.5% |
| Recurring financial income | 75 | €8,164 | €7,631 | -€532 | -6.5% |
| Financial charges | 65/66B | €608 | €434 | -€174 | -28.6% |
| Recurring financial charges | 65 | €608 | €434 | -€174 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €113,071 | €39,831 | -€73,240 | -64.8% |
| Income taxes | 67/77 | €37,538 | €14,343 | -€23,194 | -61.8% |
| Profit (loss) for the period | 9904 | €75,534 | €25,488 | -€50,046 | -66.3% |
| Profit (loss) for the period to be appropriated | 9905 | €75,534 | €25,488 | -€50,046 | -66.3% |
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 3 October 2026 via checked.be.