MAK: 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.
MAK
Largest movements
- Tangible fixed assets +€11,727
up €11,727 (+41.0%), from €28,623 to €40,349
of which Furniture and vehicles: +€12,499
- Receivables within one year +€5,353
up €5,353 (+10.2%), from €52,258 to €57,612
of which Trade receivables: +€11,692
- Intangible fixed assets +€2,000
new in 2024: €2,000
- Cash -€1,816
down €1,816 (-64.9%), from €2,798 to €982
mainly Investment in fixed assets (net) (-€27,488) and Debts after one year (-€10,968)
- Other debts +€20,859
new in 2024: €20,859
- Debts after one year -€10,968
no longer reported in 2024 (was €10,968)
- Profit (loss) carried forward +€8,424
up €8,424, from -€7,030 to €1,394
- Short-term financial debts +€5,928
new in 2024: €5,928
- Tax, wage and social debts -€4,102
down €4,102 (-10.5%), from €39,183 to €35,081
of which Remuneration and social security: -€2,568
- Staff costs -€33,318
down €33,318 (-18.2%), from €182,890 to €149,572
- Gross operating margin -€28,292
down €28,292 (-13.6%), from €208,561 to €180,269
- Financial charges -€10,247
down €10,247 (-73.4%), from €13,966 to €3,718
- Depreciation +€4,601
up €4,601 (+50.2%), from €9,160 to €13,761
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €94,224 | €111,685 | +€17,461 | +18.5% |
| Fixed assets | 21/28 | €39,168 | €52,895 | +€13,727 | +35.0% |
| Intangible fixed assets | 21 | - | €2,000 | +€2,000 | |
| Tangible fixed assets | 22/27 | €28,623 | €40,349 | +€11,727 | +41.0% |
| Plant, machinery and equipment | 23 | €1,873 | €2,101 | +€228 | +12.2% |
| Furniture and vehicles | 24 | €23,750 | €36,249 | +€12,499 | +52.6% |
| Other tangible fixed assets | 26 | €3,000 | €2,000 | -€1,000 | -33.3% |
| Financial fixed assets | 28 | €10,546 | €10,546 | = | 0.0% |
| Current assets | 29/58 | €55,056 | €58,790 | +€3,734 | +6.8% |
| Amounts receivable within one year | 40/41 | €52,258 | €57,612 | +€5,353 | +10.2% |
| Trade receivables | 40 | €44,546 | €56,238 | +€11,692 | +26.2% |
| Other amounts receivable | 41 | €7,713 | €1,374 | -€6,339 | -82.2% |
| Cash at bank and in hand | 54/58 | €2,798 | €982 | -€1,816 | -64.9% |
| Deferred charges and accrued income | 490/1 | - | €196 | +€196 | |
| Total equity and liabilities | 10/49 | €94,224 | €111,685 | +€17,461 | +18.5% |
| Equity | 10/15 | €13,430 | €21,854 | +€8,424 | +62.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,030 | €1,394 | +€8,424 | |
| Amounts payable | 17/49 | €80,795 | €89,831 | +€9,037 | +11.2% |
| Amounts payable after more than one year | 17 | €10,968 | - | -€10,968 | |
| Trade debts | 175 | €10,968 | - | -€10,968 | |
| Amounts payable within one year | 42/48 | €69,827 | €89,831 | +€20,004 | +28.6% |
| Current portion of amounts payable after more than one year | 42 | €12,117 | €10,968 | -€1,149 | -9.5% |
| Financial debts | 43 | - | €5,928 | +€5,928 | |
| Credit institutions | 430/8 | - | €5,928 | +€5,928 | |
| Trade debts | 44 | €18,527 | €16,996 | -€1,531 | -8.3% |
| Suppliers | 440/4 | €18,527 | €1,412 | -€17,115 | -92.4% |
| Bills of exchange payable | 441 | - | €15,584 | +€15,584 | |
| Taxes, remuneration and social security | 45 | €39,183 | €35,081 | -€4,102 | -10.5% |
| Taxes | 450/3 | €17,030 | €15,496 | -€1,535 | -9.0% |
| Remuneration and social security | 454/9 | €22,153 | €19,585 | -€2,568 | -11.6% |
| Other amounts payable | 47/48 | - | €20,859 | +€20,859 | |
| Remuneration, social security and pensions | 62 | €182,890 | €149,572 | -€33,318 | -18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,160 | €13,761 | +€4,601 | +50.2% |
| Other operating charges | 640/8 | €694 | €1,986 | +€1,292 | +186% |
| Gross operating margin | 9900 | €208,561 | €180,269 | -€28,292 | -13.6% |
| Operating profit (loss) | 9901 | €15,817 | €14,950 | -€867 | -5.5% |
| Financial income | 75/76B | €23 | €1 | -€22 | -97.4% |
| Recurring financial income | 75 | €23 | €1 | -€22 | -97.4% |
| Financial charges | 65/66B | €13,966 | €3,718 | -€10,247 | -73.4% |
| Recurring financial charges | 65 | €13,966 | €3,718 | -€10,247 | -73.4% |
| Profit (loss) for the period before taxes | 9903 | €1,874 | €11,232 | +€9,358 | +499% |
| Income taxes | 67/77 | €2,538 | €2,808 | +€271 | +10.7% |
| Profit (loss) for the period | 9904 | -€663 | €8,424 | +€9,087 | |
| Profit (loss) for the period to be appropriated | 9905 | -€663 | €8,424 | +€9,087 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.