MAK.BEL: 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.BEL
Largest movements
- Cash +€12,236
up €12,236 (+76.4%), from €16,017 to €28,253
mainly Trade debts (+€8,772) and Tax, wage and social debts (+€8,335)
- Stocks and contracts +€7,882
up €7,882 (+50.4%), from €15,654 to €23,536
- Receivables within one year +€6,440
up €6,440 (+40.5%), from €15,895 to €22,335
- Trade debts +€8,772
up €8,772 (+51.4%), from €17,080 to €25,852
- Tax, wage and social debts +€8,335
up €8,335 (+103%), from €8,083 to €16,418
of which Remuneration and social security: +€10,808
- Profit (loss) carried forward +€7,997
up €7,997 (+82.4%), from €9,708 to €17,705
- Other debts +€1,454
up €1,454 (+34.8%), from €4,181 to €5,635
- Turnover +€53,684
up €53,684 (+29.9%), from €179,314 to €232,998
- Purchases and services +€35,325
up €35,325 (+20.3%), from €174,117 to €209,442
- Gross operating margin +€18,359
up €18,359 (+353%), from €5,197 to €23,556
- Staff costs +€11,310
new in 2025: €11,310
- Taxes +€2,666
new in 2025: €2,666
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 | €47,566 | €74,124 | +€26,558 | +55.8% |
| Current assets | 29/58 | €47,566 | €74,124 | +€26,558 | +55.8% |
| Stocks and contracts in progress | 3 | €15,654 | €23,536 | +€7,882 | +50.4% |
| Stocks | 30/36 | €15,654 | €23,536 | +€7,882 | +50.4% |
| Amounts receivable within one year | 40/41 | €15,895 | €22,335 | +€6,440 | +40.5% |
| Trade receivables | 40 | €15,895 | €22,335 | +€6,440 | +40.5% |
| Cash at bank and in hand | 54/58 | €16,017 | €28,253 | +€12,236 | +76.4% |
| Total equity and liabilities | 10/49 | €47,566 | €74,124 | +€26,558 | +55.8% |
| Equity | 10/15 | €18,222 | €26,219 | +€7,997 | +43.9% |
| Contributions | 10/11 | €8,514 | €8,514 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,708 | €17,705 | +€7,997 | +82.4% |
| Amounts payable | 17/49 | €29,344 | €47,905 | +€18,561 | +63.3% |
| Amounts payable within one year | 42/48 | €29,344 | €47,905 | +€18,561 | +63.3% |
| Trade debts | 44 | €17,080 | €25,852 | +€8,772 | +51.4% |
| Suppliers | 440/4 | €17,080 | €25,852 | +€8,772 | +51.4% |
| Taxes, remuneration and social security | 45 | €8,083 | €16,418 | +€8,335 | +103% |
| Taxes | 450/3 | €7,083 | €4,610 | -€2,473 | -34.9% |
| Remuneration and social security | 454/9 | €1,000 | €11,808 | +€10,808 | +1,081% |
| Other amounts payable | 47/48 | €4,181 | €5,635 | +€1,454 | +34.8% |
| Turnover | 70 | €179,314 | €232,998 | +€53,684 | +29.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €174,117 | €209,442 | +€35,325 | +20.3% |
| Remuneration, social security and pensions | 62 | - | €11,310 | +€11,310 | |
| Other operating charges | 640/8 | €631 | €1,466 | +€835 | +132% |
| Gross operating margin | 9900 | €5,197 | €23,556 | +€18,359 | +353% |
| Operating profit (loss) | 9901 | €4,566 | €10,780 | +€6,214 | +136% |
| Financial charges | 65/66B | €232 | €117 | -€115 | -49.6% |
| Recurring financial charges | 65 | €232 | €117 | -€115 | -49.6% |
| Profit (loss) for the period before taxes | 9903 | €4,334 | €10,663 | +€6,329 | +146% |
| Income taxes | 67/77 | - | €2,666 | +€2,666 | |
| Profit (loss) for the period | 9904 | €4,334 | €7,997 | +€3,663 | +84.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,334 | €7,997 | +€3,663 | +84.5% |
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 19 October 2026 via checked.be.