MACQUIDIS: 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.
MACQUIDIS
Largest movements
- Receivables within one year -€246,922
down €246,922 (-85.4%), from €289,243 to €42,321
of which Other amounts receivable: -€131,270
- Cash +€23,283
up €23,283 (+59.2%), from €39,354 to €62,637
mainly Receivables within one year (+€246,922) and Depreciation (+€24,013)
- Tangible fixed assets -€21,420
down €21,420 (-43.6%), from €49,168 to €27,748
of which Furniture and vehicles: -€22,615
- Financial fixed assets -€8,783
down €8,783 (-100%), from €8,783 to €0
- Tax, wage and social debts -€117,375
down €117,375 (-76.3%), from €153,745 to €36,370
of which Taxes: -€117,375
- Trade debts -€66,413
down €66,413 (-93.4%), from €71,097 to €4,684
- Reserves -€49,365
down €49,365 (-78.8%), from €62,636 to €13,271
of which Distributable reserves: -€49,365
- Current portion of long-term debt -€20,294
down €20,294 (-100%), from €20,294 to €0
- Gross operating margin -€822,741
down €822,741 (-94.4%), from €871,993 to €49,252
- Taxes -€184,758
down €184,758 (-97.6%), from €189,298 to €4,540
- Staff costs -€40,080
down €40,080 (-100%), from €40,080 to €0
- Other operating charges -€21,332
down €21,332 (-86.4%), from €24,704 to €3,372
- Depreciation +€14,306
up €14,306 (+147%), from €9,707 to €24,013
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 | €390,467 | €134,939 | -€255,528 | -65.4% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €57,952 | €27,748 | -€30,204 | -52.1% |
| Tangible fixed assets | 22/27 | €49,168 | €27,748 | -€21,420 | -43.6% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €854 | €2,048 | +€1,194 | +140% |
| Furniture and vehicles | 24 | €48,315 | €25,700 | -€22,615 | -46.8% |
| Financial fixed assets | 28 | €8,783 | €0 | -€8,783 | -100% |
| Current assets | 29/58 | €332,516 | €107,191 | -€225,325 | -67.8% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €289,243 | €42,321 | -€246,922 | -85.4% |
| Trade receivables | 40 | €142,874 | €27,222 | -€115,652 | -80.9% |
| Other amounts receivable | 41 | €146,369 | €15,099 | -€131,270 | -89.7% |
| Cash at bank and in hand | 54/58 | €39,354 | €62,637 | +€23,283 | +59.2% |
| Deferred charges and accrued income | 490/1 | €3,919 | €2,234 | -€1,685 | -43.0% |
| Total equity and liabilities | 10/49 | €390,467 | €134,939 | -€255,528 | -65.4% |
| Equity | 10/15 | €142,636 | €93,271 | -€49,365 | -34.6% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Capital | 10 | €80,000 | €80,000 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €62,636 | €13,271 | -€49,365 | -78.8% |
| Non-distributable reserves | 130/1 | €8,000 | €8,000 | = | 0.0% |
| Legal reserve | 130 | €8,000 | €8,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €54,636 | €5,271 | -€49,365 | -90.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €247,831 | €41,668 | -€206,163 | -83.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €245,136 | €41,054 | -€204,082 | -83.3% |
| Current portion of amounts payable after more than one year | 42 | €20,294 | €0 | -€20,294 | -100% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €71,097 | €4,684 | -€66,413 | -93.4% |
| Suppliers | 440/4 | €71,097 | €4,684 | -€66,413 | -93.4% |
| Taxes, remuneration and social security | 45 | €153,745 | €36,370 | -€117,375 | -76.3% |
| Taxes | 450/3 | €153,745 | €36,370 | -€117,375 | -76.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €2,695 | €614 | -€2,081 | -77.2% |
| Non-recurring operating income | 76A | €875,309 | €0 | -€875,309 | -100% |
| Remuneration, social security and pensions | 62 | €40,080 | €0 | -€40,080 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,707 | €24,013 | +€14,306 | +147% |
| Other operating charges | 640/8 | €24,704 | €3,372 | -€21,332 | -86.4% |
| Non-recurring operating charges | 66A | €17,996 | €15,527 | -€2,470 | -13.7% |
| Gross operating margin | 9900 | €871,993 | €49,252 | -€822,741 | -94.4% |
| Operating profit (loss) | 9901 | €779,505 | €6,340 | -€773,165 | -99.2% |
| Financial income | 75/76B | €12,476 | €5,028 | -€7,448 | -59.7% |
| Recurring financial income | 75 | €12,476 | €5,028 | -€7,448 | -59.7% |
| Financial charges | 65/66B | €3,661 | €1,558 | -€2,104 | -57.5% |
| Recurring financial charges | 65 | €3,661 | €1,558 | -€2,104 | -57.5% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €788,320 | €9,811 | -€778,509 | -98.8% |
| Income taxes | 67/77 | €189,298 | €4,540 | -€184,758 | -97.6% |
| Profit (loss) for the period | 9904 | €599,022 | €5,271 | -€593,751 | -99.1% |
| Profit (loss) for the period to be appropriated | 9905 | €599,022 | €5,271 | -€593,751 | -99.1% |
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 27 October 2026 via checked.be.