MAKAS: 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.
MAKAS
Largest movements
- Cash +€3,633
up €3,633 (+136%), from €2,670 to €6,303
mainly Trade debts (+€2,613) and Net result for the year (+€2,175)
- Trade debts +€2,613
up €2,613 (+350%), from €747 to €3,360
- Profit (loss) carried forward +€2,175
up €2,175 (+5.6%), from -€38,980 to -€36,806
- Other debts -€602
down €602 (-1.9%), from €31,970 to €31,368
- Short-term financial debts -€377
down €377 (-100%), from €377 to €0
- Tax, wage and social debts -€124
down €124 (-5.2%), from €2,377 to €2,253
of which Remuneration and social security: -€1,500
- Gross operating margin +€9,508
up €9,508, from -€5,193 to €4,315
- Financial charges +€256
up €256 (+71.9%), from €355 to €611
- Staff costs -€221
down €221 (-20.2%), from €1,095 to €873
- Other operating charges +€119
up €119 (+21.8%), from €547 to €667
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 | €2,690 | €6,375 | +€3,686 | +137% |
| Current assets | 29/58 | €2,690 | €6,375 | +€3,686 | +137% |
| Stocks and contracts in progress | 3 | €20 | €73 | +€53 | +264% |
| Stocks | 30/36 | €20 | €73 | +€53 | +264% |
| Cash at bank and in hand | 54/58 | €2,670 | €6,303 | +€3,633 | +136% |
| Total equity and liabilities | 10/49 | €2,690 | €6,375 | +€3,686 | +137% |
| Equity | 10/15 | -€32,780 | -€30,606 | +€2,175 | +6.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,980 | -€36,806 | +€2,175 | +5.6% |
| Amounts payable | 17/49 | €35,470 | €36,981 | +€1,511 | +4.3% |
| Amounts payable within one year | 42/48 | €35,470 | €36,981 | +€1,511 | +4.3% |
| Financial debts | 43 | €377 | €0 | -€377 | -100% |
| Credit institutions | 430/8 | €377 | €0 | -€377 | -100% |
| Trade debts | 44 | €747 | €3,360 | +€2,613 | +350% |
| Suppliers | 440/4 | €747 | €3,360 | +€2,613 | +350% |
| Taxes, remuneration and social security | 45 | €2,377 | €2,253 | -€124 | -5.2% |
| Taxes | 450/3 | €877 | €2,253 | +€1,376 | +157% |
| Remuneration and social security | 454/9 | €1,500 | €0 | -€1,500 | -100% |
| Other amounts payable | 47/48 | €31,970 | €31,368 | -€602 | -1.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,095 | €873 | -€221 | -20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €547 | €667 | +€119 | +21.8% |
| Gross operating margin | 9900 | -€5,193 | €4,315 | +€9,508 | |
| Operating profit (loss) | 9901 | -€6,835 | €2,776 | +€9,610 | |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €355 | €611 | +€256 | +71.9% |
| Recurring financial charges | 65 | €355 | €611 | +€256 | +71.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,190 | €2,175 | +€9,365 | |
| Profit (loss) for the period | 9904 | -€7,190 | €2,175 | +€9,365 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,190 | €2,175 | +€9,365 |
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 13 October 2026 via checked.be.