MAKANDA: what changed
Two fiscal 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.
MAKANDA
Largest movements
- Cash +€61,920
up €61,920 (+58.6%), from €105,599 to €167,519
mainly Other debts (+€127,355) and Net result for the year (+€60,323)
- Receivables within one year +€9,788
up €9,788 (+6525.0%), from €150 to €9,938
- Tangible fixed assets +€3,701
up €3,701 (+6593.6%), from €56 to €3,757
- Other debts +€127,355
new in 2025: €127,355
- Profit (loss) carried forward -€60,268
down €60,268 (-100.0%), from €60,268 to €0
- Tax, wage and social debts +€8,299
up €8,299 (+33.6%), from €24,708 to €33,007
- Taxes +€954
up €954 (+5.7%), from €16,754 to €17,708
- Gross operating margin +€833
up €833 (+1.0%), from €79,695 to €80,528
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 | €105,805 | €181,213 | +€75,408 | +71.3% |
| Fixed assets | 21/28 | €56 | €3,757 | +€3,701 | +6593.6% |
| Tangible fixed assets | 22/27 | €56 | €3,757 | +€3,701 | +6593.6% |
| Plant, machinery and equipment | 23 | €56 | €3,757 | +€3,701 | +6593.6% |
| Current assets | 29/58 | €105,749 | €177,456 | +€71,707 | +67.8% |
| Amounts receivable within one year | 40/41 | €150 | €9,938 | +€9,788 | +6525.0% |
| Trade receivables | 40 | €150 | €9,938 | +€9,788 | +6525.0% |
| Cash at bank and in hand | 54/58 | €105,599 | €167,519 | +€61,920 | +58.6% |
| Total equity and liabilities | 10/49 | €105,805 | €181,213 | +€75,408 | +71.3% |
| Equity | 10/15 | €80,728 | €20,460 | -€60,268 | -74.7% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,268 | €0 | -€60,268 | -100.0% |
| Amounts payable | 17/49 | €25,077 | €160,753 | +€135,676 | +541.0% |
| Amounts payable within one year | 42/48 | €25,077 | €160,753 | +€135,676 | +541.0% |
| Trade debts | 44 | €369 | €392 | +€23 | +6.2% |
| Suppliers | 440/4 | €369 | €392 | +€23 | +6.2% |
| Taxes, remuneration and social security | 45 | €24,708 | €33,007 | +€8,299 | +33.6% |
| Taxes | 450/3 | €24,708 | €33,007 | +€8,299 | +33.6% |
| Other amounts payable | 47/48 | - | €127,355 | +€127,355 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €943 | €1,073 | +€130 | +13.8% |
| Other operating charges | 640/8 | €611 | €628 | +€17 | +2.8% |
| Gross operating margin | 9900 | €79,695 | €80,528 | +€833 | +1.0% |
| Operating profit (loss) | 9901 | €78,141 | €78,826 | +€686 | +0.9% |
| Financial income | 75/76B | €4 | €5 | +€2 | +50.0% |
| Recurring financial income | 75 | €4 | €5 | +€2 | +50.0% |
| Financial charges | 65/66B | €1,123 | €801 | -€321 | -28.6% |
| Recurring financial charges | 65 | €1,123 | €801 | -€321 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €77,022 | €78,030 | +€1,009 | +1.3% |
| Income taxes | 67/77 | €16,754 | €17,708 | +€954 | +5.7% |
| Profit (loss) for the period | 9904 | €60,268 | €60,323 | +€55 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €60,268 | €60,323 | +€55 | +0.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.