MAK DAK: 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 DAK
Largest movements
- Cash -€13,482
down €13,482 (-79.5%), from €16,967 to €3,484
mainly Other debts (-€16,413) and Stocks and contracts (-€8,788)
- Stocks and contracts +€8,788
new in 2025: €8,788
- Receivables within one year +€7,567
up €7,567 (+89.4%), from €8,460 to €16,027
of which Trade receivables: +€9,849
- Deferred charges and accrued income +€923
up €923 (+244.1%), from €378 to €1,301
- Tangible fixed assets -€897
down €897 (-29.4%), from €3,056 to €2,159
of which Furniture and vehicles: -€600
- Other debts -€16,413
down €16,413 (-87.3%), from €18,810 to €2,397
- Trade debts +€15,874
new in 2025: €15,874
- Reserves +€2,320
new in 2025: €2,320
- Tax, wage and social debts +€1,118
up €1,118 (+15.9%), from €7,050 to €8,168
- Gross operating margin -€19,610
down €19,610 (-73.9%), from €26,544 to €6,934
- Taxes -€5,950
down €5,950 (-84.4%), from €7,050 to €1,100
- Staff costs +€1,910
new in 2025: €1,910
- Depreciation +€668
up €668 (+292.5%), from €229 to €897
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 | €28,860 | €31,759 | +€2,899 | +10.0% |
| Fixed assets | 21/28 | €3,056 | €2,159 | -€897 | -29.4% |
| Tangible fixed assets | 22/27 | €3,056 | €2,159 | -€897 | -29.4% |
| Plant, machinery and equipment | 23 | €1,408 | €1,112 | -€297 | -21.1% |
| Furniture and vehicles | 24 | €1,647 | €1,047 | -€600 | -36.4% |
| Current assets | 29/58 | €25,804 | €29,600 | +€3,796 | +14.7% |
| Stocks and contracts in progress | 3 | - | €8,788 | +€8,788 | |
| Stocks | 30/36 | - | €8,788 | +€8,788 | |
| Amounts receivable within one year | 40/41 | €8,460 | €16,027 | +€7,567 | +89.4% |
| Trade receivables | 40 | €151 | €10,000 | +€9,849 | +6509.8% |
| Other amounts receivable | 41 | €8,308 | €6,027 | -€2,282 | -27.5% |
| Cash at bank and in hand | 54/58 | €16,967 | €3,484 | -€13,482 | -79.5% |
| Deferred charges and accrued income | 490/1 | €378 | €1,301 | +€923 | +244.1% |
| Total equity and liabilities | 10/49 | €28,860 | €31,759 | +€2,899 | +10.0% |
| Equity | 10/15 | €3,000 | €5,320 | +€2,320 | +77.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €2,320 | +€2,320 | |
| Distributable reserves | 133 | - | €2,320 | +€2,320 | |
| Amounts payable | 17/49 | €25,860 | €26,438 | +€578 | +2.2% |
| Amounts payable within one year | 42/48 | €25,860 | €26,438 | +€578 | +2.2% |
| Trade debts | 44 | - | €15,874 | +€15,874 | |
| Suppliers | 440/4 | - | €15,874 | +€15,874 | |
| Taxes, remuneration and social security | 45 | €7,050 | €8,168 | +€1,118 | +15.9% |
| Taxes | 450/3 | €7,050 | €8,168 | +€1,118 | +15.9% |
| Other amounts payable | 47/48 | €18,810 | €2,397 | -€16,413 | -87.3% |
| Remuneration, social security and pensions | 62 | - | €1,910 | +€1,910 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €229 | €897 | +€668 | +292.5% |
| Other operating charges | 640/8 | €437 | €634 | +€196 | +44.9% |
| Gross operating margin | 9900 | €26,544 | €6,934 | -€19,610 | -73.9% |
| Operating profit (loss) | 9901 | €25,878 | €3,493 | -€22,385 | -86.5% |
| Financial income | 75/76B | €0 | €33 | +€33 | +325900.0% |
| Recurring financial income | 75 | €0 | €33 | +€33 | +325900.0% |
| Financial charges | 65/66B | €18 | €105 | +€87 | +478.1% |
| Recurring financial charges | 65 | €18 | €105 | +€87 | +478.1% |
| Profit (loss) for the period before taxes | 9903 | €25,860 | €3,420 | -€22,439 | -86.8% |
| Income taxes | 67/77 | €7,050 | €1,100 | -€5,950 | -84.4% |
| Profit (loss) for the period | 9904 | €18,810 | €2,320 | -€16,489 | -87.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,810 | €2,320 | -€16,489 | -87.7% |
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.