MAK RETAIL: 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 RETAIL
Largest movements
- Receivables within one year +€127,935
up €127,935 (+245%), from €52,214 to €180,149
of which Other amounts receivable: +€107,004
- Current investments -€86,123
down €86,123 (-24.5%), from €351,123 to €265,000
- Cash +€84,415
up €84,415 (+41.6%), from €202,976 to €287,390
mainly Net result for the year (+€258,271) and Other debts (+€158,271)
- Intangible fixed assets -€27,500
down €27,500 (-100%), from €27,500 to €0
- Tangible fixed assets +€17,403
up €17,403 (+30.6%), from €56,915 to €74,318
of which Plant, machinery and equipment: +€11,912
- Other debts +€158,271
up €158,271 (+151%), from €104,755 to €263,025
- Debts after one year -€62,008
down €62,008 (-21.6%), from €286,464 to €224,456
of which Trade debts: -€56,843
- Trade debts +€13,589
up €13,589 (+25.3%), from €53,653 to €67,242
- Tax, wage and social debts +€11,988
up €11,988 (+23.8%), from €50,358 to €62,346
of which Taxes: +€18,999
- Turnover +€4.5m
new in 2025: €4.5m
- Purchases and services +€4.0m
new in 2025: €4.0m
- Staff costs -€118,007
down €118,007 (-37.2%), from €317,096 to €199,089
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 | €934,197 | €1,054,330 | +€120,133 | +12.9% |
| Fixed assets | 21/28 | €84,652 | €74,645 | -€10,007 | -11.8% |
| Intangible fixed assets | 21 | €27,500 | €0 | -€27,500 | -100% |
| Tangible fixed assets | 22/27 | €56,915 | €74,318 | +€17,403 | +30.6% |
| Plant, machinery and equipment | 23 | €47,334 | €59,246 | +€11,912 | +25.2% |
| Furniture and vehicles | 24 | €254 | €2,398 | +€2,144 | +845% |
| Other tangible fixed assets | 26 | €9,327 | €12,674 | +€3,347 | +35.9% |
| Financial fixed assets | 28 | €237 | €327 | +€90 | +38.0% |
| Current assets | 29/58 | €849,545 | €979,685 | +€130,140 | +15.3% |
| Stocks and contracts in progress | 3 | €242,463 | €246,416 | +€3,953 | +1.6% |
| Stocks | 30/36 | €242,463 | €246,416 | +€3,953 | +1.6% |
| Amounts receivable within one year | 40/41 | €52,214 | €180,149 | +€127,935 | +245% |
| Trade receivables | 40 | €27,270 | €48,201 | +€20,931 | +76.8% |
| Other amounts receivable | 41 | €24,944 | €131,948 | +€107,004 | +429% |
| Current investments | 50/53 | €351,123 | €265,000 | -€86,123 | -24.5% |
| Cash at bank and in hand | 54/58 | €202,976 | €287,390 | +€84,415 | +41.6% |
| Deferred charges and accrued income | 490/1 | €769 | €729 | -€40 | -5.2% |
| Total equity and liabilities | 10/49 | €934,197 | €1,054,330 | +€120,133 | +12.9% |
| Equity | 10/15 | €432,095 | €432,095 | = | 0.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €332,095 | €332,095 | = | 0.0% |
| Distributable reserves | 133 | €332,095 | €332,095 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €502,102 | €622,234 | +€120,133 | +23.9% |
| Amounts payable after more than one year | 17 | €286,464 | €224,456 | -€62,008 | -21.6% |
| Financial debts | 170/4 | €6,909 | €1,744 | -€5,165 | -74.8% |
| Trade debts | 175 | €279,555 | €222,712 | -€56,843 | -20.3% |
| Amounts payable within one year | 42/48 | €215,637 | €397,778 | +€182,140 | +84.5% |
| Current portion of amounts payable after more than one year | 42 | €5,064 | €5,165 | +€101 | +2.0% |
| Trade debts | 44 | €53,653 | €67,242 | +€13,589 | +25.3% |
| Suppliers | 440/4 | €53,653 | €67,242 | +€13,589 | +25.3% |
| Advances received on contracts in progress | 46 | €1,807 | €0 | -€1,807 | -100% |
| Taxes, remuneration and social security | 45 | €50,358 | €62,346 | +€11,988 | +23.8% |
| Taxes | 450/3 | €5,983 | €24,981 | +€18,999 | +318% |
| Remuneration and social security | 454/9 | €44,376 | €37,365 | -€7,011 | -15.8% |
| Other amounts payable | 47/48 | €104,755 | €263,025 | +€158,271 | +151% |
| Turnover | 70 | - | €4,516,495 | +€4.5m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €4,018,503 | +€4.0m | |
| Remuneration, social security and pensions | 62 | €317,096 | €199,089 | -€118,007 | -37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,926 | €47,748 | -€1,178 | -2.4% |
| Other operating charges | 640/8 | €2,453 | €2,274 | -€178 | -7.3% |
| Gross operating margin | 9900 | €515,817 | €544,832 | +€29,016 | +5.6% |
| Operating profit (loss) | 9901 | €147,342 | €295,721 | +€148,379 | +101% |
| Financial income | 75/76B | €2,059 | €2,722 | +€663 | +32.2% |
| Recurring financial income | 75 | €2,059 | €2,722 | +€663 | +32.2% |
| Financial charges | 65/66B | €28,663 | €20,380 | -€8,283 | -28.9% |
| Recurring financial charges | 65 | €28,663 | €20,380 | -€8,283 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €120,738 | €278,062 | +€157,325 | +130% |
| Income taxes | 67/77 | €6,467 | €19,791 | +€13,324 | +206% |
| Profit (loss) for the period | 9904 | €114,271 | €258,271 | +€144,000 | +126% |
| Profit (loss) for the period to be appropriated | 9905 | €114,271 | €258,271 | +€144,000 | +126% |
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 31 October 2026 via checked.be.