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
- Receivables within one year +€11,920
up €11,920 (+207%), from €5,764 to €17,684
of which Trade receivables: +€8,199
- Cash +€9,858
up €9,858 (+1,835%), from €537 to €10,395
mainly Net result for the year (+€14,087) and Depreciation (+€12,519)
- Stocks and contracts -€4,246
no longer reported in 2025 (was €4,246)
- Receivables after one year -€2,437
no longer reported in 2025 (was €2,437)
- Profit (loss) carried forward +€14,087
up €14,087 (+48.3%), from -€29,136 to -€15,049
- Tax, wage and social debts +€1,921
up €1,921 (+138%), from €1,394 to €3,315
of which Remuneration and social security: +€1,264
- Gross operating margin +€33,012
up €33,012, from -€5,302 to €27,710
- Turnover +€27,682
up €27,682 (+78.4%), from €35,292 to €62,974
- Purchases and services +€21,931
up €21,931 (+38.5%), from €56,955 to €78,886
- Depreciation -€4,846
down €4,846 (-27.9%), from €17,365 to €12,519
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 | €92,348 | €107,968 | +€15,620 | +16.9% |
| Fixed assets | 21/28 | €79,364 | €79,889 | +€525 | +0.7% |
| Tangible fixed assets | 22/27 | €78,864 | €79,389 | +€525 | +0.7% |
| Land and buildings | 22 | €63,040 | €55,385 | -€7,655 | -12.1% |
| Plant, machinery and equipment | 23 | €5,881 | €7,275 | +€1,394 | +23.7% |
| Furniture and vehicles | 24 | €5,349 | €16,729 | +€11,380 | +213% |
| Assets under construction and advance payments | 27 | €4,593 | - | -€4,593 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €12,984 | €28,079 | +€15,095 | +116% |
| Amounts receivable after more than one year | 29 | €2,437 | - | -€2,437 | |
| Other amounts receivable | 291 | €2,437 | - | -€2,437 | |
| Stocks and contracts in progress | 3 | €4,246 | - | -€4,246 | |
| Stocks | 30/36 | €4,246 | - | -€4,246 | |
| Amounts receivable within one year | 40/41 | €5,764 | €17,684 | +€11,920 | +207% |
| Trade receivables | 40 | - | €8,199 | +€8,199 | |
| Other amounts receivable | 41 | €5,764 | €9,485 | +€3,721 | +64.6% |
| Cash at bank and in hand | 54/58 | €537 | €10,395 | +€9,858 | +1,835% |
| Total equity and liabilities | 10/49 | €92,348 | €107,968 | +€15,620 | +16.9% |
| Equity | 10/15 | €89,877 | €103,964 | +€14,087 | +15.7% |
| Contributions | 10/11 | €7,600 | €7,600 | = | 0.0% |
| Contributions outside capital | 11 | - | €7,600 | +€7,600 | |
| Other | 1109/19 | - | €7,600 | +€7,600 | |
| Reserves | 13 | €111,413 | €111,413 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €109,413 | €109,413 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€29,136 | -€15,049 | +€14,087 | +48.3% |
| Amounts payable | 17/49 | €2,471 | €4,004 | +€1,533 | +62.0% |
| Amounts payable within one year | 42/48 | €2,471 | €4,004 | +€1,533 | +62.0% |
| Trade debts | 44 | €826 | €689 | -€137 | -16.6% |
| Suppliers | 440/4 | €826 | €689 | -€137 | -16.6% |
| Taxes, remuneration and social security | 45 | €1,394 | €3,315 | +€1,921 | +138% |
| Taxes | 450/3 | €1,394 | €2,051 | +€657 | +47.1% |
| Remuneration and social security | 454/9 | - | €1,264 | +€1,264 | |
| Other amounts payable | 47/48 | €251 | - | -€251 | |
| Turnover | 70 | €35,292 | €62,974 | +€27,682 | +78.4% |
| Non-recurring operating income | 76A | - | €27,885 | +€27,885 | |
| Goods, raw materials, services and sundry goods | 60/61 | €56,955 | €78,886 | +€21,931 | +38.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,365 | €12,519 | -€4,846 | -27.9% |
| Other operating charges | 640/8 | €1,425 | €1,056 | -€369 | -25.9% |
| Gross operating margin | 9900 | -€5,302 | €27,710 | +€33,012 | |
| Operating profit (loss) | 9901 | -€24,092 | €14,135 | +€38,227 | |
| Financial income | 75/76B | €185 | €130 | -€55 | -29.9% |
| Recurring financial income | 75 | €185 | €130 | -€55 | -29.9% |
| Financial charges | 65/66B | €146 | €178 | +€32 | +22.3% |
| Recurring financial charges | 65 | €146 | €178 | +€32 | +22.3% |
| Profit (loss) for the period before taxes | 9903 | -€24,052 | €14,087 | +€38,139 | |
| Profit (loss) for the period | 9904 | -€24,052 | €14,087 | +€38,139 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,052 | €14,087 | +€38,139 |
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 15 October 2026 via checked.be.