MACOTI: 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.
MACOTI
Largest movements
- Deferred charges and accrued income +€21,916
up €21,916 (+831.8%), from €2,635 to €24,551
- Tangible fixed assets -€19,479
down €19,479 (-7.4%), from €264,513 to €245,035
of which Land and buildings: -€10,905
- Cash +€10,427
up €10,427 (+3.8%), from €272,190 to €282,617
mainly Depreciation (+€12,201) and Net result for the year (+€9,334)
- Reserves +€9,334
up €9,334 (+6.4%), from €145,367 to €154,701
of which Distributable reserves: +€9,334
- Trade debts +€8,140
up €8,140 (+44.3%), from €18,386 to €26,527
- Gross operating margin -€11,956
down €11,956 (-5.8%), from €207,712 to €195,755
- Staff costs +€5,411
up €5,411 (+3.4%), from €161,100 to €166,511
- Other operating charges -€2,961
down €2,961 (-47.3%), from €6,265 to €3,305
- Taxes +€2,775
up €2,775 (+318.0%), from €873 to €3,647
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 | €539,338 | €552,203 | +€12,865 | +2.4% |
| Fixed assets | 21/28 | €264,513 | €245,035 | -€19,479 | -7.4% |
| Tangible fixed assets | 22/27 | €264,513 | €245,035 | -€19,479 | -7.4% |
| Land and buildings | 22 | €252,876 | €241,971 | -€10,905 | -4.3% |
| Plant, machinery and equipment | 23 | €4,360 | €3,064 | -€1,296 | -29.7% |
| Furniture and vehicles | 24 | €7,278 | - | -€7,278 | |
| Current assets | 29/58 | €274,825 | €307,168 | +€32,343 | +11.8% |
| Cash at bank and in hand | 54/58 | €272,190 | €282,617 | +€10,427 | +3.8% |
| Deferred charges and accrued income | 490/1 | €2,635 | €24,551 | +€21,916 | +831.8% |
| Total equity and liabilities | 10/49 | €539,338 | €552,203 | +€12,865 | +2.4% |
| Equity | 10/15 | €489,156 | €498,490 | +€9,334 | +1.9% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Capital | 10 | €24,789 | €24,789 | = | 0.0% |
| Issued capital | 100 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €145,367 | €154,701 | +€9,334 | +6.4% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Legal reserve | 130 | €2,479 | €2,479 | = | 0.0% |
| Tax-exempt reserves | 132 | €51,600 | €51,600 | = | 0.0% |
| Distributable reserves | 133 | €91,288 | €100,622 | +€9,334 | +10.2% |
| Profit (loss) carried forward | 14 | €319,000 | €319,000 | = | 0.0% |
| Amounts payable | 17/49 | €50,182 | €53,713 | +€3,531 | +7.0% |
| Amounts payable after more than one year | 17 | €1,532 | - | -€1,532 | |
| Financial debts | 170/4 | €1,532 | - | -€1,532 | |
| Amounts payable within one year | 42/48 | €48,650 | €53,713 | +€5,062 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €4,461 | €1,532 | -€2,929 | -65.7% |
| Trade debts | 44 | €18,386 | €26,527 | +€8,140 | +44.3% |
| Suppliers | 440/4 | €18,386 | €26,527 | +€8,140 | +44.3% |
| Taxes, remuneration and social security | 45 | €22,039 | €21,891 | -€149 | -0.7% |
| Taxes | 450/3 | €5,523 | €7,074 | +€1,550 | +28.1% |
| Remuneration and social security | 454/9 | €16,516 | €14,817 | -€1,699 | -10.3% |
| Other amounts payable | 47/48 | €3,764 | €3,764 | = | 0.0% |
| Non-recurring operating income | 76A | - | €15,722 | +€15,722 | |
| Remuneration, social security and pensions | 62 | €161,100 | €166,511 | +€5,411 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,111 | €12,201 | -€910 | -6.9% |
| Other operating charges | 640/8 | €6,265 | €3,305 | -€2,961 | -47.3% |
| Gross operating margin | 9900 | €207,712 | €195,755 | -€11,956 | -5.8% |
| Operating profit (loss) | 9901 | €27,235 | €13,738 | -€13,497 | -49.6% |
| Financial income | 75/76B | €2,295 | €1,902 | -€393 | -17.1% |
| Recurring financial income | 75 | €2,295 | €1,902 | -€393 | -17.1% |
| Financial charges | 65/66B | €2,548 | €2,659 | +€111 | +4.4% |
| Recurring financial charges | 65 | €2,548 | €2,659 | +€111 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €26,983 | €12,981 | -€14,002 | -51.9% |
| Income taxes | 67/77 | €873 | €3,647 | +€2,775 | +318.0% |
| Profit (loss) for the period | 9904 | €26,110 | €9,334 | -€16,776 | -64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €26,110 | €9,334 | -€16,776 | -64.3% |
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 5 October 2026 via checked.be.