MACRO DECOR: 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.
What changed
MACRO DECOR
NACE 55.209, Other holiday and short-stay accommodation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€61,181
2024 · €27,076+€34,104
Equity
€656,861
2024 · €595,680+€61,181
Cash
€186,975
2024 · €69,712+€117,263
Balance sheet total
€5.8m
2024 · €5.7m+€82,419
Largest movements
Assets
- Tangible fixed assets -€197,655
down €197,655 (-3.7%), from €5.4m to €5.2m
of which Land and buildings: -€191,379
- Deferred charges and accrued income +€181,603
new in 2025: €181,603
- Cash +€117,263
up €117,263 (+168%), from €69,712 to €186,975
mainly Depreciation (+€231,685) and Advances received (+€209,459)
Equity and liabilities
- Debts after one year -€253,269
down €253,269 (-7.3%), from €3.5m to €3.2m
- Advances received +€209,459
new in 2025: €209,459
- Trade debts +€112,076
up €112,076 (+362%), from €30,940 to €143,015
- Reserves +€61,181
up €61,181 (+11.5%), from €533,707 to €594,888
of which Distributable reserves: +€89,888
Income statement
- Gross operating margin +€69,699
up €69,699 (+15.3%), from €455,183 to €524,881
- Depreciation +€24,550
up €24,550 (+11.9%), from €207,135 to €231,685
- Financial charges +€22,694
up €22,694 (+18.6%), from €122,018 to €144,712
- Other operating charges -€11,406
down €11,406 (-27.2%), from €41,873 to €30,467
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.
Result 2024
€27,076
Gross operating margin
+€69,699
Staff costs
+€1,025
Depreciation
-€24,550
Other operating charges
+€11,406
Financial income
+€1,591
Financial charges
-€22,694
Taxes
-€2,373
Result 2025
€61,181
raises the resultlowers the result
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.
From operations
+€413,938
Investment
-€54,030
Financing
-€242,645
Cash 2024
€69,712
From operations (derived)
+€413,938
Net result for the year
+€61,181
Depreciation
+€231,685
Stocks and contracts
-€320
Receivables within one year
+€39,112
Deferred charges and accrued income
-€181,603
Provisions
-€9,569
Trade debts
+€112,076
Tax, wage and social debts
+€2,236
Advances received
+€209,459
Other debts
-€50,319
Investment (derived)
-€54,030
Investment in fixed assets (net)
-€54,030
Financing
-€242,645
Debts after one year
-€253,269
Current portion of long-term debt
+€10,625
Cash 2025
€186,975
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,709,928 | €5,792,347 | +€82,419 | +1.4% |
| Fixed assets | 21/28 | €5,398,967 | €5,221,312 | -€177,655 | -3.3% |
| Tangible fixed assets | 22/27 | €5,377,967 | €5,180,312 | -€197,655 | -3.7% |
| Land and buildings | 22 | €5,353,333 | €5,161,955 | -€191,379 | -3.6% |
| Furniture and vehicles | 24 | €24,634 | €18,358 | -€6,276 | -25.5% |
| Financial fixed assets | 28 | €21,000 | €41,000 | +€20,000 | +95.2% |
| Current assets | 29/58 | €310,961 | €571,035 | +€260,074 | +83.6% |
| Stocks and contracts in progress | 3 | €4,800 | €5,120 | +€320 | +6.7% |
| Stocks | 30/36 | €4,800 | €5,120 | +€320 | +6.7% |
| Amounts receivable within one year | 40/41 | €232,448 | €193,336 | -€39,112 | -16.8% |
| Trade receivables | 40 | €53,648 | €26,901 | -€26,747 | -49.9% |
| Other amounts receivable | 41 | €178,800 | €166,435 | -€12,365 | -6.9% |
| Current investments | 50/53 | €4,001 | €4,001 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €69,712 | €186,975 | +€117,263 | +168% |
| Deferred charges and accrued income | 490/1 | - | €181,603 | +€181,603 | |
| Total equity and liabilities | 10/49 | €5,709,928 | €5,792,347 | +€82,419 | +1.4% |
| Equity | 10/15 | €595,680 | €656,861 | +€61,181 | +10.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €533,707 | €594,888 | +€61,181 | +11.5% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €437,085 | €408,378 | -€28,707 | -6.6% |
| Distributable reserves | 133 | €90,425 | €180,312 | +€89,888 | +99.4% |
| Provisions and deferred taxes | 16 | €158,282 | €148,714 | -€9,569 | -6.0% |
| Deferred taxes | 168 | €158,282 | €148,714 | -€9,569 | -6.0% |
| Amounts payable | 17/49 | €4,955,966 | €4,986,773 | +€30,807 | +0.6% |
| Amounts payable after more than one year | 17 | €3,455,198 | €3,201,929 | -€253,269 | -7.3% |
| Financial debts | 170/4 | €3,455,198 | €3,201,929 | -€253,269 | -7.3% |
| Amounts payable within one year | 42/48 | €1,500,768 | €1,784,844 | +€284,076 | +18.9% |
| Current portion of amounts payable after more than one year | 42 | €243,000 | €253,625 | +€10,625 | +4.4% |
| Financial debts | 43 | €870,000 | €870,000 | = | 0.0% |
| Credit institutions | 430/8 | €870,000 | €870,000 | = | 0.0% |
| Trade debts | 44 | €30,940 | €143,015 | +€112,076 | +362% |
| Suppliers | 440/4 | €30,940 | €143,015 | +€112,076 | +362% |
| Advances received on contracts in progress | 46 | - | €209,459 | +€209,459 | |
| Taxes, remuneration and social security | 45 | €126,710 | €128,946 | +€2,236 | +1.8% |
| Taxes | 450/3 | €112,933 | €119,922 | +€6,988 | +6.2% |
| Remuneration and social security | 454/9 | €13,777 | €9,024 | -€4,753 | -34.5% |
| Other amounts payable | 47/48 | €230,118 | €179,799 | -€50,319 | -21.9% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €44,256 | €43,230 | -€1,025 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €207,135 | €231,685 | +€24,550 | +11.9% |
| Other operating charges | 640/8 | €41,873 | €30,467 | -€11,406 | -27.2% |
| Gross operating margin | 9900 | €455,183 | €524,881 | +€69,699 | +15.3% |
| Operating profit (loss) | 9901 | €161,919 | €219,499 | +€57,580 | +35.6% |
| Financial income | 75/76B | - | €1,591 | +€1,591 | |
| Recurring financial income | 75 | - | €1,591 | +€1,591 | |
| Financial charges | 65/66B | €122,018 | €144,712 | +€22,694 | +18.6% |
| Recurring financial charges | 65 | €122,018 | €144,712 | +€22,694 | +18.6% |
| Profit (loss) for the period before taxes | 9903 | €39,901 | €76,378 | +€36,477 | +91.4% |
| Transfer from deferred taxes | 780 | €9,569 | €9,569 | = | 0.0% |
| Income taxes | 67/77 | €22,394 | €24,766 | +€2,373 | +10.6% |
| Profit (loss) for the period | 9904 | €27,076 | €61,181 | +€34,104 | +126% |
| Transfer from tax-exempt reserves | 789 | €28,707 | €28,707 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €55,783 | €89,888 | +€34,104 | +61.1% |
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 15 October 2026 via checked.be.