MACS - holding: what changed
MACS - holding
Largest movements
- Cash -€122,358
down €122,358 (-84.0%), from €145,581 to €23,223
mainly Contributions, distributions and other (-€115,000) and Current investments (-€100,000)
- Current investments +€100,000
new in 2025: €100,000
- Receivables within one year +€15,408
up €15,408 (+5,977%), from €258 to €15,666
of which Trade receivables: +€14,520
- Tax, wage and social debts -€20,039
down €20,039 (-67.2%), from €29,819 to €9,781
of which Taxes: -€20,053
- Trade debts +€19,207
up €19,207 (+3,325%), from €578 to €19,785
- Other debts -€10,000
down €10,000 (-1.9%), from €515,721 to €505,721
- Gross operating margin -€179,735
down €179,735 (-53.3%), from €336,995 to €157,260
- Taxes -€41,137
down €41,137 (-51.5%), from €79,945 to €38,809
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €699,909 | €692,959 | -€6,951 | -1.0% |
| Fixed assets | 21/28 | €554,070 | €554,070 | = | 0.0% |
| Financial fixed assets | 28 | €554,070 | €554,070 | = | 0.0% |
| Current assets | 29/58 | €145,839 | €138,889 | -€6,951 | -4.8% |
| Amounts receivable within one year | 40/41 | €258 | €15,666 | +€15,408 | +5,977% |
| Trade receivables | 40 | €0 | €14,520 | +€14,520 | |
| Other amounts receivable | 41 | €258 | €1,146 | +€888 | +344% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €145,581 | €23,223 | -€122,358 | -84.0% |
| Total equity and liabilities | 10/49 | €699,909 | €692,959 | -€6,951 | -1.0% |
| Equity | 10/15 | €152,451 | €156,276 | +€3,826 | +2.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €132,451 | €136,276 | +€3,826 | +2.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €132,451 | €136,276 | +€3,826 | +2.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €547,459 | €536,682 | -€10,777 | -2.0% |
| Amounts payable within one year | 42/48 | €546,119 | €535,287 | -€10,832 | -2.0% |
| Trade debts | 44 | €578 | €19,785 | +€19,207 | +3,325% |
| Suppliers | 440/4 | €578 | €19,785 | +€19,207 | +3,325% |
| Taxes, remuneration and social security | 45 | €29,819 | €9,781 | -€20,039 | -67.2% |
| Taxes | 450/3 | €27,488 | €7,435 | -€20,053 | -73.0% |
| Remuneration and social security | 454/9 | €2,331 | €2,345 | +€14 | +0.6% |
| Other amounts payable | 47/48 | €515,721 | €505,721 | -€10,000 | -1.9% |
| Accrued charges and deferred income | 492/3 | €1,340 | €1,395 | +€55 | +4.1% |
| Other operating charges | 640/8 | €1,013 | €528 | -€485 | -47.9% |
| Gross operating margin | 9900 | €336,995 | €157,260 | -€179,735 | -53.3% |
| Operating profit (loss) | 9901 | €335,983 | €156,732 | -€179,250 | -53.4% |
| Financial income | 75/76B | - | €988 | +€988 | |
| Recurring financial income | 75 | - | €988 | +€988 | |
| Financial charges | 65/66B | €587 | €86 | -€501 | -85.4% |
| Recurring financial charges | 65 | €587 | €86 | -€501 | -85.4% |
| Profit (loss) for the period before taxes | 9903 | €335,396 | €157,635 | -€177,761 | -53.0% |
| Income taxes | 67/77 | €79,945 | €38,809 | -€41,137 | -51.5% |
| Profit (loss) for the period | 9904 | €255,451 | €118,826 | -€136,625 | -53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €255,451 | €118,826 | -€136,625 | -53.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.