MaCu Ventures: 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.
MaCu Ventures
Largest movements
- Financial fixed assets +€570,375
up €570,375 (+18.8%), from €3.0m to €3.6m
- Cash +€47,205
up €47,205 (+142%), from €33,172 to €80,377
mainly Net result for the year (+€630,388) and Other debts (+€120,342)
- Reserves +€630,388
up €630,388 (+562%), from €112,254 to €742,641
- Debts after one year -€166,667
down €166,667 (-5.9%), from €2.8m to €2.7m
of which Financial debts: -€166,667
- Other debts +€120,342
up €120,342 (+366,338%), from €33 to €120,375
- Financial income +€614,590
up €614,590 (+5,458%), from €11,260 to €625,849
- Financial charges +€61,801
up €61,801 (+368%), from €16,811 to €78,612
- Taxes -€13,478
down €13,478 (-73.6%), from €18,315 to €4,836
- Gross operating margin +€2,937
up €2,937 (+3.2%), from €91,423 to €94,359
- Depreciation +€1,544
up €1,544 (+32.8%), from €4,708 to €6,252
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 | €3,112,467 | €3,709,588 | +€597,121 | +19.2% |
| Fixed assets | 21/28 | €3,062,121 | €3,626,244 | +€564,123 | +18.4% |
| Tangible fixed assets | 22/27 | €24,001 | €17,749 | -€6,252 | -26.1% |
| Furniture and vehicles | 24 | €24,001 | €17,749 | -€6,252 | -26.1% |
| Financial fixed assets | 28 | €3,038,120 | €3,608,495 | +€570,375 | +18.8% |
| Current assets | 29/58 | €50,346 | €83,345 | +€32,999 | +65.5% |
| Amounts receivable within one year | 40/41 | €15,730 | €1,527 | -€14,203 | -90.3% |
| Trade receivables | 40 | €15,730 | €0 | -€15,730 | -100% |
| Other amounts receivable | 41 | - | €1,527 | +€1,527 | |
| Cash at bank and in hand | 54/58 | €33,172 | €80,377 | +€47,205 | +142% |
| Deferred charges and accrued income | 490/1 | €1,444 | €1,441 | -€3 | -0.2% |
| Total equity and liabilities | 10/49 | €3,112,467 | €3,709,588 | +€597,121 | +19.2% |
| Equity | 10/15 | €117,254 | €747,641 | +€630,388 | +538% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €112,254 | €742,641 | +€630,388 | +562% |
| Distributable reserves | 133 | €112,254 | €742,641 | +€630,388 | +562% |
| Amounts payable | 17/49 | €2,995,213 | €2,961,947 | -€33,266 | -1.1% |
| Amounts payable after more than one year | 17 | €2,821,453 | €2,654,787 | -€166,667 | -5.9% |
| Financial debts | 170/4 | €833,333 | €666,667 | -€166,667 | -20.0% |
| Other amounts payable | 178/9 | €1,988,120 | €1,988,120 | = | 0.0% |
| Amounts payable within one year | 42/48 | €173,760 | €307,160 | +€133,400 | +76.8% |
| Current portion of amounts payable after more than one year | 42 | €166,667 | €166,667 | = | 0.0% |
| Financial debts | 43 | - | €125 | +€125 | |
| Credit institutions | 430/8 | - | €125 | +€125 | |
| Trade debts | 44 | €88 | €7,388 | +€7,299 | +8,284% |
| Suppliers | 440/4 | €88 | €7,388 | +€7,299 | +8,284% |
| Taxes, remuneration and social security | 45 | €6,972 | €12,605 | +€5,633 | +80.8% |
| Taxes | 450/3 | €6,972 | €12,605 | +€5,633 | +80.8% |
| Other amounts payable | 47/48 | €33 | €120,375 | +€120,342 | +366,338% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,708 | €6,252 | +€1,544 | +32.8% |
| Other operating charges | 640/8 | €293 | €120 | -€173 | -59.0% |
| Non-recurring operating charges | 66A | €4,289 | €0 | -€4,289 | -100% |
| Gross operating margin | 9900 | €91,423 | €94,359 | +€2,937 | +3.2% |
| Operating profit (loss) | 9901 | €82,132 | €87,987 | +€5,855 | +7.1% |
| Financial income | 75/76B | €11,260 | €625,849 | +€614,590 | +5,458% |
| Recurring financial income | 75 | €11,260 | €625,849 | +€614,590 | +5,458% |
| Financial charges | 65/66B | €16,811 | €78,612 | +€61,801 | +368% |
| Recurring financial charges | 65 | €16,811 | €78,612 | +€61,801 | +368% |
| Profit (loss) for the period before taxes | 9903 | €76,581 | €635,224 | +€558,643 | +729% |
| Income taxes | 67/77 | €18,315 | €4,836 | -€13,478 | -73.6% |
| Profit (loss) for the period | 9904 | €58,266 | €630,388 | +€572,121 | +982% |
| Profit (loss) for the period to be appropriated | 9905 | €58,266 | €630,388 | +€572,121 | +982% |
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 22 October 2026 via checked.be.