MACZ: 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.
MACZ
Largest movements
- Cash +€42,930
up €42,930 (+38.9%), from €110,337 to €153,267
mainly Net result for the year (+€83,881) and Depreciation (+€9,139)
- Tangible fixed assets -€9,139
down €9,139 (-30.5%), from €29,947 to €20,807
- Receivables within one year +€7,626
up €7,626 (+41.5%), from €18,357 to €25,983
of which Trade receivables: +€4,287
- Reserves +€83,881
up €83,881 (+4,510%), from €1,860 to €85,741
of which Distributable reserves: +€85,741
- Tax, wage and social debts -€36,577
down €36,577 (-75.4%), from €48,514 to €11,938
of which Taxes: -€34,327
- Other debts -€5,410
down €5,410 (-6.1%), from €88,696 to €83,285
- Gross operating margin -€9,033
down €9,033 (-7.2%), from €126,012 to €116,979
- Taxes -€4,077
down €4,077 (-15.8%), from €25,737 to €21,661
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 | €158,701 | €200,057 | +€41,356 | +26.1% |
| Fixed assets | 21/28 | €29,947 | €20,807 | -€9,139 | -30.5% |
| Tangible fixed assets | 22/27 | €29,947 | €20,807 | -€9,139 | -30.5% |
| Plant, machinery and equipment | 23 | €11,744 | €9,891 | -€1,854 | -15.8% |
| Furniture and vehicles | 24 | €8,046 | €5,012 | -€3,035 | -37.7% |
| Other tangible fixed assets | 26 | €10,156 | €5,905 | -€4,251 | -41.9% |
| Current assets | 29/58 | €128,755 | €179,250 | +€50,495 | +39.2% |
| Amounts receivable within one year | 40/41 | €18,357 | €25,983 | +€7,626 | +41.5% |
| Trade receivables | 40 | €18,357 | €22,644 | +€4,287 | +23.4% |
| Other amounts receivable | 41 | - | €3,339 | +€3,339 | |
| Cash at bank and in hand | 54/58 | €110,337 | €153,267 | +€42,930 | +38.9% |
| Deferred charges and accrued income | 490/1 | €61 | €0 | -€61 | -100% |
| Total equity and liabilities | 10/49 | €158,701 | €200,057 | +€41,356 | +26.1% |
| Equity | 10/15 | €20,460 | €104,341 | +€83,881 | +410% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €85,741 | +€83,881 | +4,510% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | - | €85,741 | +€85,741 | |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €138,241 | €95,716 | -€42,525 | -30.8% |
| Amounts payable within one year | 42/48 | €138,241 | €95,716 | -€42,525 | -30.8% |
| Trade debts | 44 | €1,031 | €493 | -€538 | -52.2% |
| Suppliers | 440/4 | €1,031 | €493 | -€538 | -52.2% |
| Taxes, remuneration and social security | 45 | €48,514 | €11,938 | -€36,577 | -75.4% |
| Taxes | 450/3 | €46,264 | €11,938 | -€34,327 | -74.2% |
| Remuneration and social security | 454/9 | €2,250 | €0 | -€2,250 | -100% |
| Other amounts payable | 47/48 | €88,696 | €83,285 | -€5,410 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,810 | €9,139 | +€329 | +3.7% |
| Other operating charges | 640/8 | €189 | €449 | +€260 | +138% |
| Gross operating margin | 9900 | €126,012 | €116,979 | -€9,033 | -7.2% |
| Operating profit (loss) | 9901 | €117,013 | €107,390 | -€9,622 | -8.2% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €1,338 | €1,848 | +€511 | +38.2% |
| Recurring financial charges | 65 | €1,338 | €1,848 | +€511 | +38.2% |
| Profit (loss) for the period before taxes | 9903 | €115,676 | €105,542 | -€10,134 | -8.8% |
| Income taxes | 67/77 | €25,737 | €21,661 | -€4,077 | -15.8% |
| Profit (loss) for the period | 9904 | €89,938 | €83,881 | -€6,057 | -6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €89,938 | €83,881 | -€6,057 | -6.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.