MACOT: 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.
MACOT
Largest movements
- Cash +€8,309
up €8,309 (+30.8%), from €26,980 to €35,289
mainly Depreciation (+€14,104) and Receivables within one year (+€4,341)
- Receivables within one year -€4,341
down €4,341 (-93.6%), from €4,638 to €297
of which Trade receivables: -€2,510
- Deferred charges and accrued income +€2,082
new in 2025: €2,082
- Tangible fixed assets -€1,558
down €1,558 (-5.6%), from €27,806 to €26,249
of which Furniture and vehicles: -€3,243
- Trade debts +€2,319
up €2,319 (+303.5%), from €764 to €3,083
- Tax, wage and social debts +€1,741
new in 2025: €1,741
- Depreciation +€6,800
up €6,800 (+93.1%), from €7,304 to €14,104
- Gross operating margin -€2,558
down €2,558 (-14.9%), from €17,196 to €14,638
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 | €59,424 | €63,918 | +€4,493 | +7.6% |
| Fixed assets | 21/28 | €27,806 | €26,249 | -€1,558 | -5.6% |
| Tangible fixed assets | 22/27 | €27,806 | €26,249 | -€1,558 | -5.6% |
| Plant, machinery and equipment | 23 | €1,714 | €1,012 | -€701 | -40.9% |
| Furniture and vehicles | 24 | €21,217 | €17,974 | -€3,243 | -15.3% |
| Other tangible fixed assets | 26 | €4,876 | €7,262 | +€2,387 | +48.9% |
| Current assets | 29/58 | €31,618 | €37,669 | +€6,051 | +19.1% |
| Amounts receivable within one year | 40/41 | €4,638 | €297 | -€4,341 | -93.6% |
| Trade receivables | 40 | €2,808 | €297 | -€2,510 | -89.4% |
| Other amounts receivable | 41 | €1,830 | - | -€1,830 | |
| Cash at bank and in hand | 54/58 | €26,980 | €35,289 | +€8,309 | +30.8% |
| Deferred charges and accrued income | 490/1 | - | €2,082 | +€2,082 | |
| Total equity and liabilities | 10/49 | €59,424 | €63,918 | +€4,493 | +7.6% |
| Equity | 10/15 | €13,328 | €13,509 | +€181 | +1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,272 | -€5,091 | +€181 | +3.4% |
| Amounts payable | 17/49 | €46,097 | €50,409 | +€4,312 | +9.4% |
| Amounts payable within one year | 42/48 | €46,097 | €50,409 | +€4,312 | +9.4% |
| Trade debts | 44 | €764 | €3,083 | +€2,319 | +303.5% |
| Suppliers | 440/4 | €764 | €3,083 | +€2,319 | +303.5% |
| Taxes, remuneration and social security | 45 | - | €1,741 | +€1,741 | |
| Taxes | 450/3 | - | €1,741 | +€1,741 | |
| Other amounts payable | 47/48 | €45,332 | €45,584 | +€252 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,304 | €14,104 | +€6,800 | +93.1% |
| Other operating charges | 640/8 | €149 | €249 | +€100 | +67.3% |
| Gross operating margin | 9900 | €17,196 | €14,638 | -€2,558 | -14.9% |
| Operating profit (loss) | 9901 | €9,744 | €286 | -€9,458 | -97.1% |
| Financial income | 75/76B | €26 | €71 | +€45 | +174.1% |
| Recurring financial income | 75 | €26 | €71 | +€45 | +174.1% |
| Financial charges | 65/66B | €188 | €176 | -€12 | -6.5% |
| Recurring financial charges | 65 | €188 | €176 | -€12 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €9,582 | €181 | -€9,401 | -98.1% |
| Income taxes | 67/77 | €5 | - | -€5 | |
| Profit (loss) for the period | 9904 | €9,577 | €181 | -€9,396 | -98.1% |
| Profit (loss) for the period to be appropriated | 9905 | €9,577 | €181 | -€9,396 | -98.1% |
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 8 October 2026 via checked.be.