MACPAL: 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.
MACPAL
Largest movements
- Receivables within one year +€145,356
up €145,356 (+22.8%), from €638,818 to €784,175
- Cash -€8,166
down €8,166 (-85.8%), from €9,520 to €1,354
mainly Receivables within one year (-€145,356) and Tax, wage and social debts (-€56,474)
- Profit (loss) carried forward +€182,806
up €182,806 (+36.5%), from €500,442 to €683,248
- Tax, wage and social debts -€56,474
down €56,474 (-77.6%), from €72,813 to €16,339
of which Taxes: -€56,660
- Contributions +€12,400
up €12,400 (+200%), from €6,200 to €18,600
- Gross operating margin -€102,892
down €102,892 (-29.4%), from €349,621 to €246,729
- Financial income +€37,734
up €37,734 (+8,984,338%), from €0 to €37,735
- Taxes -€16,421
down €16,421 (-21.0%), from €78,016 to €61,595
- Financial charges -€9,373
down €9,373 (-85.0%), from €11,021 to €1,648
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 | €648,339 | €785,529 | +€137,190 | +21.2% |
| Current assets | 29/58 | €648,339 | €785,529 | +€137,190 | +21.2% |
| Amounts receivable within one year | 40/41 | €638,818 | €784,175 | +€145,356 | +22.8% |
| Other amounts receivable | 41 | €638,818 | €784,175 | +€145,356 | +22.8% |
| Cash at bank and in hand | 54/58 | €9,520 | €1,354 | -€8,166 | -85.8% |
| Total equity and liabilities | 10/49 | €648,339 | €785,529 | +€137,190 | +21.2% |
| Equity | 10/15 | €508,502 | €703,708 | +€195,206 | +38.4% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €500,442 | €683,248 | +€182,806 | +36.5% |
| Amounts payable | 17/49 | €139,837 | €81,821 | -€58,016 | -41.5% |
| Amounts payable within one year | 42/48 | €139,837 | €81,821 | -€58,016 | -41.5% |
| Trade debts | 44 | €2,023 | €482 | -€1,541 | -76.2% |
| Suppliers | 440/4 | €2,023 | €482 | -€1,541 | -76.2% |
| Taxes, remuneration and social security | 45 | €72,813 | €16,339 | -€56,474 | -77.6% |
| Taxes | 450/3 | €68,016 | €11,356 | -€56,660 | -83.3% |
| Remuneration and social security | 454/9 | €4,797 | €4,983 | +€186 | +3.9% |
| Other amounts payable | 47/48 | €65,000 | €65,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €39,420 | €38,415 | -€1,005 | -2.6% |
| Gross operating margin | 9900 | €349,621 | €246,729 | -€102,892 | -29.4% |
| Operating profit (loss) | 9901 | €310,201 | €208,314 | -€101,887 | -32.8% |
| Financial income | 75/76B | €0 | €37,735 | +€37,734 | +8,984,338% |
| Recurring financial income | 75 | €0 | €37,735 | +€37,734 | +8,984,338% |
| Financial charges | 65/66B | €11,021 | €1,648 | -€9,373 | -85.0% |
| Recurring financial charges | 65 | €11,021 | €1,648 | -€9,373 | -85.0% |
| Profit (loss) for the period before taxes | 9903 | €299,180 | €244,401 | -€54,779 | -18.3% |
| Income taxes | 67/77 | €78,016 | €61,595 | -€16,421 | -21.0% |
| Profit (loss) for the period | 9904 | €221,164 | €182,806 | -€38,358 | -17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €221,164 | €182,806 | -€38,358 | -17.3% |
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 14 October 2026 via checked.be.