MAKE logistics: what changed
MAKE logistics
Largest movements
- Tangible fixed assets +€39,101
up €39,101 (+29.7%), from €131,739 to €170,840
of which Furniture and vehicles: +€46,901
- Receivables within one year +€7,555
up €7,555 (+72.0%), from €10,500 to €18,055
of which Trade receivables: +€5,577
- Cash +€3,091
up €3,091 (+34.3%), from €9,021 to €12,111
mainly Debts after one year (+€26,438) and Net result for the year (+€11,122)
- Debts after one year +€26,438
up €26,438 (+27.6%), from €95,694 to €122,132
- Reserves +€11,122
up €11,122 (+30.9%), from €35,968 to €47,090
- Current portion of long-term debt +€8,513
up €8,513 (+100.0%), from €8,516 to €17,028
- Tax, wage and social debts +€2,550
up €2,550 (+70.1%), from €3,637 to €6,187
- Gross operating margin -€2,323
down €2,323 (-7.5%), from €31,170 to €28,847
- Taxes -€828
down €828 (-15.5%), from €5,349 to €4,521
- Financial charges +€340
up €340 (+13.6%), from €2,496 to €2,837
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €151,260 | €201,084 | +€49,824 | +32.9% |
| Fixed assets | 21/28 | €131,739 | €170,840 | +€39,101 | +29.7% |
| Tangible fixed assets | 22/27 | €131,739 | €170,840 | +€39,101 | +29.7% |
| Land and buildings | 22 | €124,583 | €116,783 | -€7,800 | -6.3% |
| Furniture and vehicles | 24 | €7,156 | €54,057 | +€46,901 | +655% |
| Current assets | 29/58 | €19,521 | €30,243 | +€10,723 | +54.9% |
| Amounts receivable within one year | 40/41 | €10,500 | €18,055 | +€7,555 | +72.0% |
| Trade receivables | 40 | €10,500 | €16,077 | +€5,577 | +53.1% |
| Other amounts receivable | 41 | €0 | €1,979 | +€1,979 | |
| Cash at bank and in hand | 54/58 | €9,021 | €12,111 | +€3,091 | +34.3% |
| Deferred charges and accrued income | 490/1 | €0 | €77 | +€77 | |
| Total equity and liabilities | 10/49 | €151,260 | €201,084 | +€49,824 | +32.9% |
| Equity | 10/15 | €42,168 | €53,290 | +€11,122 | +26.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €35,968 | €47,090 | +€11,122 | +30.9% |
| Distributable reserves | 133 | €35,968 | €47,090 | +€11,122 | +30.9% |
| Amounts payable | 17/49 | €109,091 | €147,793 | +€38,702 | +35.5% |
| Amounts payable after more than one year | 17 | €95,694 | €122,132 | +€26,438 | +27.6% |
| Financial debts | 170/4 | €95,694 | €122,132 | +€26,438 | +27.6% |
| Amounts payable within one year | 42/48 | €12,506 | €24,771 | +€12,265 | +98.1% |
| Current portion of amounts payable after more than one year | 42 | €8,516 | €17,028 | +€8,513 | +100.0% |
| Financial debts | 43 | €0 | €1,012 | +€1,012 | |
| Credit institutions | 430/8 | €0 | €1,012 | +€1,012 | |
| Trade debts | 44 | €353 | €544 | +€191 | +54.0% |
| Suppliers | 440/4 | €353 | €544 | +€191 | +54.0% |
| Taxes, remuneration and social security | 45 | €3,637 | €6,187 | +€2,550 | +70.1% |
| Taxes | 450/3 | €3,637 | €6,187 | +€2,550 | +70.1% |
| Accrued charges and deferred income | 492/3 | €890 | €890 | -€0 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,479 | €9,683 | +€205 | +2.2% |
| Other operating charges | 640/8 | €505 | €683 | +€178 | +35.2% |
| Gross operating margin | 9900 | €31,170 | €28,847 | -€2,323 | -7.5% |
| Operating profit (loss) | 9901 | €21,186 | €18,480 | -€2,706 | -12.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,496 | €2,837 | +€340 | +13.6% |
| Recurring financial charges | 65 | €2,496 | €2,837 | +€340 | +13.6% |
| Profit (loss) for the period before taxes | 9903 | €18,690 | €15,643 | -€3,046 | -16.3% |
| Income taxes | 67/77 | €5,349 | €4,521 | -€828 | -15.5% |
| Profit (loss) for the period | 9904 | €13,341 | €11,122 | -€2,219 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,341 | €11,122 | -€2,219 | -16.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.