macy: 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.
macy
Largest movements
- Tangible fixed assets -€23,715
down €23,715 (-3.0%), from €779,699 to €755,984
of which Land and buildings: -€22,846
- Receivables within one year -€14,103
down €14,103 (-20.7%), from €68,179 to €54,076
- Debts after one year -€54,014
down €54,014 (-56.7%), from €95,266 to €41,252
- Reserves +€24,891
up €24,891 (+5.5%), from €451,278 to €476,169
of which Distributable reserves: +€24,891
- Tax, wage and social debts -€12,818
down €12,818 (-25.3%), from €50,735 to €37,917
- Gross operating margin -€172,855
down €172,855 (-77.4%), from €223,330 to €50,475
- Taxes -€55,076
down €55,076 (-90.7%), from €60,735 to €5,659
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 | €854,931 | €813,936 | -€40,995 | -4.8% |
| Fixed assets | 21/28 | €779,774 | €756,059 | -€23,715 | -3.0% |
| Tangible fixed assets | 22/27 | €779,699 | €755,984 | -€23,715 | -3.0% |
| Land and buildings | 22 | €776,602 | €753,756 | -€22,846 | -2.9% |
| Plant, machinery and equipment | 23 | €3,097 | €2,228 | -€869 | -28.1% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €75,157 | €57,877 | -€17,280 | -23.0% |
| Amounts receivable within one year | 40/41 | €68,179 | €54,076 | -€14,103 | -20.7% |
| Other amounts receivable | 41 | €68,179 | €54,076 | -€14,103 | -20.7% |
| Cash at bank and in hand | 54/58 | €6,830 | €2,576 | -€4,254 | -62.3% |
| Deferred charges and accrued income | 490/1 | €148 | €1,226 | +€1,078 | +729.6% |
| Total equity and liabilities | 10/49 | €854,931 | €813,936 | -€40,995 | -4.8% |
| Equity | 10/15 | €495,778 | €520,669 | +€24,891 | +5.0% |
| Contributions | 10/11 | €44,500 | €44,500 | = | 0.0% |
| Reserves | 13 | €451,278 | €476,169 | +€24,891 | +5.5% |
| Non-distributable reserves | 130/1 | €4,450 | €4,450 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,450 | €4,450 | = | 0.0% |
| Distributable reserves | 133 | €446,828 | €471,719 | +€24,891 | +5.6% |
| Amounts payable | 17/49 | €359,153 | €293,267 | -€65,886 | -18.3% |
| Amounts payable after more than one year | 17 | €95,266 | €41,252 | -€54,014 | -56.7% |
| Financial debts | 170/4 | €95,266 | €41,252 | -€54,014 | -56.7% |
| Amounts payable within one year | 42/48 | €261,887 | €250,015 | -€11,872 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €60,442 | €59,152 | -€1,290 | -2.1% |
| Trade debts | 44 | €150,710 | €152,946 | +€2,236 | +1.5% |
| Suppliers | 440/4 | €150,710 | €152,946 | +€2,236 | +1.5% |
| Taxes, remuneration and social security | 45 | €50,735 | €37,917 | -€12,818 | -25.3% |
| Taxes | 450/3 | €50,735 | €37,917 | -€12,818 | -25.3% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,688 | €23,715 | +€27 | +0.1% |
| Other operating charges | 640/8 | €6,126 | €5,153 | -€973 | -15.9% |
| Gross operating margin | 9900 | €223,330 | €50,475 | -€172,855 | -77.4% |
| Operating profit (loss) | 9901 | €193,516 | €21,607 | -€171,909 | -88.8% |
| Financial income | 75/76B | €776 | €565 | -€211 | -27.2% |
| Recurring financial income | 75 | €776 | €565 | -€211 | -27.2% |
| Financial charges | 65/66B | €5,381 | €4,439 | -€942 | -17.5% |
| Recurring financial charges | 65 | €5,381 | €4,439 | -€942 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €188,911 | €17,733 | -€171,179 | -90.6% |
| Income taxes | 67/77 | €60,735 | €5,659 | -€55,076 | -90.7% |
| Profit (loss) for the period | 9904 | €128,177 | €12,073 | -€116,103 | -90.6% |
| Profit (loss) for the period to be appropriated | 9905 | €128,177 | €12,073 | -€116,103 | -90.6% |
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 9 October 2026 via checked.be.