MACPHI: 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.
MACPHI
Largest movements
- Cash +€219,599
up €219,599 (+227.2%), from €96,636 to €316,235
mainly Net result for the year (+€122,288) and Current investments (+€100,000)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Receivables after one year -€40,000
no longer reported in 2025 (was €40,000)
- Tangible fixed assets +€19,193
up €19,193 (+38.1%), from €50,402 to €69,595
of which Furniture and vehicles: +€19,449
- Reserves +€113,278
up €113,278 (+42.0%), from €269,539 to €382,817
of which Distributable reserves: +€113,278
- Tax, wage and social debts -€14,619
down €14,619 (-50.0%), from €29,246 to €14,628
- Gross operating margin +€90,852
up €90,852 (+87.4%), from €103,941 to €194,793
- Taxes +€22,024
up €22,024 (+70.0%), from €31,464 to €53,488
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 | €324,353 | €419,560 | +€95,207 | +29.4% |
| Fixed assets | 21/28 | €50,402 | €69,595 | +€19,193 | +38.1% |
| Tangible fixed assets | 22/27 | €50,402 | €69,595 | +€19,193 | +38.1% |
| Land and buildings | 22 | €6,622 | €5,716 | -€906 | -13.7% |
| Furniture and vehicles | 24 | €40,679 | €60,128 | +€19,449 | +47.8% |
| Other tangible fixed assets | 26 | €3,100 | €3,750 | +€650 | +21.0% |
| Current assets | 29/58 | €273,952 | €349,966 | +€76,014 | +27.7% |
| Amounts receivable after more than one year | 29 | €40,000 | - | -€40,000 | |
| Other amounts receivable | 291 | €40,000 | - | -€40,000 | |
| Amounts receivable within one year | 40/41 | €33,019 | €33,145 | +€126 | +0.4% |
| Trade receivables | 40 | €32,718 | €28,746 | -€3,972 | -12.1% |
| Other amounts receivable | 41 | €301 | €4,399 | +€4,098 | +1362.2% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €96,636 | €316,235 | +€219,599 | +227.2% |
| Deferred charges and accrued income | 490/1 | €4,297 | €586 | -€3,711 | -86.4% |
| Total equity and liabilities | 10/49 | €324,353 | €419,560 | +€95,207 | +29.4% |
| Equity | 10/15 | €288,131 | €401,409 | +€113,278 | +39.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €269,539 | €382,817 | +€113,278 | +42.0% |
| Tax-exempt reserves | 132 | €39 | €39 | = | 0.0% |
| Distributable reserves | 133 | €269,500 | €382,778 | +€113,278 | +42.0% |
| Amounts payable | 17/49 | €36,222 | €18,151 | -€18,071 | -49.9% |
| Amounts payable within one year | 42/48 | €36,222 | €18,151 | -€18,071 | -49.9% |
| Financial debts | 43 | €1,126 | €813 | -€312 | -27.7% |
| Credit institutions | 430/8 | €1,126 | €813 | -€312 | -27.7% |
| Trade debts | 44 | €3,768 | €2,393 | -€1,375 | -36.5% |
| Suppliers | 440/4 | €3,768 | €2,393 | -€1,375 | -36.5% |
| Taxes, remuneration and social security | 45 | €29,246 | €14,628 | -€14,619 | -50.0% |
| Taxes | 450/3 | €29,246 | €14,628 | -€14,619 | -50.0% |
| Other amounts payable | 47/48 | €2,083 | €318 | -€1,765 | -84.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,428 | €10,221 | -€207 | -2.0% |
| Other operating charges | 640/8 | €2,772 | €1,112 | -€1,660 | -59.9% |
| Non-recurring operating charges | 66A | - | €10,644 | +€10,644 | |
| Gross operating margin | 9900 | €103,941 | €194,793 | +€90,852 | +87.4% |
| Operating profit (loss) | 9901 | €90,740 | €172,816 | +€82,075 | +90.5% |
| Financial income | 75/76B | €3,296 | €3,217 | -€78 | -2.4% |
| Recurring financial income | 75 | €3,296 | €3,217 | -€78 | -2.4% |
| Financial charges | 65/66B | €303 | €258 | -€45 | -15.0% |
| Recurring financial charges | 65 | €303 | €258 | -€45 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €93,733 | €175,776 | +€82,042 | +87.5% |
| Income taxes | 67/77 | €31,464 | €53,488 | +€22,024 | +70.0% |
| Profit (loss) for the period | 9904 | €62,269 | €122,288 | +€60,019 | +96.4% |
| Profit (loss) for the period to be appropriated | 9905 | €62,269 | €122,288 | +€60,019 | +96.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.