MaKe: 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.
MaKe
Largest movements
- Cash -€18,741
down €18,741 (-90.8%), from €20,635 to €1,894
mainly Contributions, distributions and other (-€31,979) and Receivables within one year (-€16,410)
- Receivables within one year +€16,410
up €16,410 (+515%), from €3,187 to €19,597
of which Trade receivables: +€16,347
- Deferred charges and accrued income -€315
down €315 (-33.0%), from €956 to €641
- Tax, wage and social debts -€3,654
down €3,654 (-17.2%), from €21,273 to €17,618
- Trade debts +€845
up €845 (+126%), from €669 to €1,514
- Gross operating margin +€1,938
up €1,938 (+4.1%), from €46,943 to €48,881
- Taxes +€737
up €737 (+6.0%), from €12,223 to €12,961
- Financial charges -€508
down €508 (-14.4%), from €3,536 to €3,028
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 | €24,941 | €22,132 | -€2,809 | -11.3% |
| Fixed assets | 21/28 | €164 | - | -€164 | |
| Tangible fixed assets | 22/27 | €164 | - | -€164 | |
| Furniture and vehicles | 24 | €164 | - | -€164 | |
| Current assets | 29/58 | €24,778 | €22,132 | -€2,646 | -10.7% |
| Amounts receivable within one year | 40/41 | €3,187 | €19,597 | +€16,410 | +515% |
| Trade receivables | 40 | - | €16,347 | +€16,347 | |
| Other amounts receivable | 41 | €3,187 | €3,251 | +€64 | +2.0% |
| Cash at bank and in hand | 54/58 | €20,635 | €1,894 | -€18,741 | -90.8% |
| Deferred charges and accrued income | 490/1 | €956 | €641 | -€315 | -33.0% |
| Total equity and liabilities | 10/49 | €24,941 | €22,132 | -€2,809 | -11.3% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Amounts payable | 17/49 | €21,941 | €19,132 | -€2,809 | -12.8% |
| Amounts payable within one year | 42/48 | €21,941 | €19,132 | -€2,809 | -12.8% |
| Trade debts | 44 | €669 | €1,514 | +€845 | +126% |
| Suppliers | 440/4 | €669 | €1,514 | +€845 | +126% |
| Taxes, remuneration and social security | 45 | €21,273 | €17,618 | -€3,654 | -17.2% |
| Taxes | 450/3 | €21,273 | €17,618 | -€3,654 | -17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €246 | €164 | -€82 | -33.4% |
| Other operating charges | 640/8 | €784 | €749 | -€35 | -4.4% |
| Gross operating margin | 9900 | €46,943 | €48,881 | +€1,938 | +4.1% |
| Operating profit (loss) | 9901 | €45,913 | €47,968 | +€2,055 | +4.5% |
| Financial charges | 65/66B | €3,536 | €3,028 | -€508 | -14.4% |
| Recurring financial charges | 65 | €3,536 | €3,028 | -€508 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €42,377 | €44,940 | +€2,563 | +6.0% |
| Income taxes | 67/77 | €12,223 | €12,961 | +€737 | +6.0% |
| Profit (loss) for the period | 9904 | €30,153 | €31,979 | +€1,825 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €30,153 | €31,979 | +€1,825 | +6.1% |
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 28 October 2026 via checked.be.