MACTAN: 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.
MACTAN
Largest movements
- Stocks and contracts +€1.0m
new in 2025: €1.0m
- Other debts +€500,358
up €500,358 (+2397.0%), from €20,874 to €521,232
- Short-term financial debts +€499,809
new in 2025: €499,809
- Advances received +€31,292
new in 2025: €31,292
- Profit (loss) carried forward +€11,942
up €11,942 (+48.6%), from -€24,554 to -€12,612
- Gross operating margin +€14,193
up €14,193 (+160.2%), from €8,858 to €23,052
- Financial charges +€10,652
up €10,652 (+12423.7%), from €86 to €10,738
- Depreciation -€1,289
down €1,289 (-80.3%), from €1,605 to €316
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 | €16,780 | €1,060,303 | +€1.0m | +6218.7% |
| Fixed assets | 21/28 | €321 | €4 | -€316 | -98.6% |
| Tangible fixed assets | 22/27 | €321 | €4 | -€316 | -98.6% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €321 | €4 | -€316 | -98.6% |
| Current assets | 29/58 | €16,460 | €1,060,299 | +€1.0m | +6341.7% |
| Stocks and contracts in progress | 3 | - | €1,031,407 | +€1.0m | |
| Stocks | 30/36 | - | €1,031,407 | +€1.0m | |
| Amounts receivable within one year | 40/41 | €16,346 | €25,924 | +€9,578 | +58.6% |
| Trade receivables | 40 | €16,335 | €25,861 | +€9,526 | +58.3% |
| Other amounts receivable | 41 | €11 | €63 | +€52 | +490.4% |
| Cash at bank and in hand | 54/58 | €114 | €2,968 | +€2,854 | +2500.4% |
| Total equity and liabilities | 10/49 | €16,780 | €1,060,303 | +€1.0m | +6218.7% |
| Equity | 10/15 | -€4,094 | €7,848 | +€11,942 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,554 | -€12,612 | +€11,942 | +48.6% |
| Amounts payable | 17/49 | €20,874 | €1,052,455 | +€1.0m | +4941.8% |
| Amounts payable within one year | 42/48 | €20,874 | €1,052,455 | +€1.0m | +4941.8% |
| Financial debts | 43 | - | €499,809 | +€499,809 | |
| Credit institutions | 430/8 | - | €499,809 | +€499,809 | |
| Trade debts | 44 | - | €121 | +€121 | |
| Suppliers | 440/4 | - | €121 | +€121 | |
| Advances received on contracts in progress | 46 | - | €31,292 | +€31,292 | |
| Other amounts payable | 47/48 | €20,874 | €521,232 | +€500,358 | +2397.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,605 | €316 | -€1,289 | -80.3% |
| Other operating charges | 640/8 | €145 | €55 | -€90 | -62.2% |
| Gross operating margin | 9900 | €8,858 | €23,052 | +€14,193 | +160.2% |
| Operating profit (loss) | 9901 | €7,108 | €22,680 | +€15,572 | +219.1% |
| Financial charges | 65/66B | €86 | €10,738 | +€10,652 | +12423.7% |
| Recurring financial charges | 65 | €86 | €10,738 | +€10,652 | +12423.7% |
| Profit (loss) for the period before taxes | 9903 | €7,022 | €11,942 | +€4,920 | +70.1% |
| Profit (loss) for the period | 9904 | €7,022 | €11,942 | +€4,920 | +70.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,022 | €11,942 | +€4,920 | +70.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.