MACRO 4 (BENELUX): 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.
MACRO 4 (BENELUX)
Largest movements
- Receivables within one year -€446,256
down €446,256 (-28.1%), from €1.6m to €1.1m
of which Trade receivables: -€446,777
- Cash +€359,147
up €359,147 (+17.8%), from €2.0m to €2.4m
mainly Receivables within one year (+€446,256) and Net result for the year (+€51,389)
- Accrued charges and deferred income -€83,069
down €83,069 (-6.5%), from €1.3m to €1.2m
- Profit (loss) carried forward +€51,389
up €51,389 (+4.5%), from €1.1m to €1.2m
- Trade debts -€38,468
down €38,468 (-4.9%), from €789,853 to €751,386
- Gross operating margin +€16,937
up €16,937 (+2.1%), from €792,451 to €809,388
- Financial charges +€11,204
up €11,204 (+134%), from €8,352 to €19,556
- Staff costs +€8,188
up €8,188 (+1.2%), from €702,838 to €711,026
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 | €3,615,632 | €3,530,348 | -€85,284 | -2.4% |
| Fixed assets | 21/28 | €2,415 | €4,254 | +€1,840 | +76.2% |
| Tangible fixed assets | 22/27 | €2,086 | €3,925 | +€1,840 | +88.2% |
| Furniture and vehicles | 24 | €1,553 | €3,512 | +€1,960 | +126% |
| Other tangible fixed assets | 26 | €533 | €413 | -€120 | -22.5% |
| Financial fixed assets | 28 | €329 | €329 | = | 0.0% |
| Current assets | 29/58 | €3,613,218 | €3,526,094 | -€87,124 | -2.4% |
| Amounts receivable within one year | 40/41 | €1,589,501 | €1,143,244 | -€446,256 | -28.1% |
| Trade receivables | 40 | €1,588,259 | €1,141,481 | -€446,777 | -28.1% |
| Other amounts receivable | 41 | €1,242 | €1,763 | +€521 | +41.9% |
| Cash at bank and in hand | 54/58 | €2,016,333 | €2,375,480 | +€359,147 | +17.8% |
| Deferred charges and accrued income | 490/1 | €7,384 | €7,369 | -€15 | -0.2% |
| Total equity and liabilities | 10/49 | €3,615,632 | €3,530,348 | -€85,284 | -2.4% |
| Equity | 10/15 | €1,208,017 | €1,259,406 | +€51,389 | +4.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,139,817 | €1,191,206 | +€51,389 | +4.5% |
| Amounts payable | 17/49 | €2,407,616 | €2,270,942 | -€136,673 | -5.7% |
| Amounts payable within one year | 42/48 | €1,123,173 | €1,069,569 | -€53,604 | -4.8% |
| Trade debts | 44 | €789,853 | €751,386 | -€38,468 | -4.9% |
| Suppliers | 440/4 | €789,853 | €751,386 | -€38,468 | -4.9% |
| Taxes, remuneration and social security | 45 | €333,320 | €318,183 | -€15,137 | -4.5% |
| Taxes | 450/3 | €149,478 | €140,169 | -€9,309 | -6.2% |
| Remuneration and social security | 454/9 | €183,842 | €178,014 | -€5,828 | -3.2% |
| Accrued charges and deferred income | 492/3 | €1,284,442 | €1,201,373 | -€83,069 | -6.5% |
| Non-recurring operating income | 76A | - | €6,806 | +€6,806 | |
| Remuneration, social security and pensions | 62 | €702,838 | €711,026 | +€8,188 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,978 | €2,056 | +€78 | +3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,513 | €1,469 | -€44 | -2.9% |
| Gross operating margin | 9900 | €792,451 | €809,388 | +€16,937 | +2.1% |
| Operating profit (loss) | 9901 | €86,121 | €94,836 | +€8,715 | +10.1% |
| Financial income | 75/76B | €5,630 | €79 | -€5,551 | -98.6% |
| Recurring financial income | 75 | €5,630 | €79 | -€5,551 | -98.6% |
| Financial charges | 65/66B | €8,352 | €19,556 | +€11,204 | +134% |
| Recurring financial charges | 65 | €8,352 | €19,556 | +€11,204 | +134% |
| Profit (loss) for the period before taxes | 9903 | €83,400 | €75,359 | -€8,041 | -9.6% |
| Income taxes | 67/77 | €26,316 | €23,970 | -€2,346 | -8.9% |
| Profit (loss) for the period | 9904 | €57,084 | €51,389 | -€5,694 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €57,084 | €51,389 | -€5,694 | -10.0% |
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 16 October 2026 via checked.be.