Make22: what changed
What changed
Make22
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€77,828
2024 · -€34,307-€43,522
Equity
-€261,108
2024 · -€183,280-€77,828
Cash
€5,475
2024 · €7,662-€2,187
Balance sheet total
€249,426
2024 · €281,833-€32,408
Largest movements
Assets
- Tangible fixed assets -€20,144
down €20,144 (-9.6%), from €210,530 to €190,387
of which Furniture and vehicles: -€15,336
- Deferred charges and accrued income -€5,529
down €5,529 (-10.8%), from €51,130 to €45,601
- Receivables within one year -€4,898
down €4,898 (-39.1%), from €12,511 to €7,613
of which Trade receivables: -€6,594
Equity and liabilities
- Profit (loss) carried forward -€77,828
down €77,828 (-42.4%), from -€183,380 to -€261,208
- Other debts +€57,586
up €57,586 (+64.2%), from €89,697 to €147,283
- Debts after one year -€14,795
down €14,795 (-4.2%), from €356,234 to €341,439
of which Financial debts: -€14,795
Income statement
- Gross operating margin -€45,414
down €45,414 (-534%), from -€8,507 to -€53,921
- Financial charges -€1,140
down €1,140 (-29.6%), from €3,849 to €2,709
- Other operating charges -€727
down €727 (-43.2%), from €1,682 to €956
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.
Result 2024
-€34,307
Gross operating margin
-€45,414
Depreciation
-€7
Other operating charges
+€727
Financial income
-€9
Financial charges
+€1,140
Taxes
+€41
Result 2025
-€77,828
raises the resultlowers the result
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.
From operations
+€12,453
Investment
-€350
Financing
-€14,290
Cash 2024
€7,662
From operations (derived)
+€12,453
Net result for the year
-€77,828
Depreciation
+€20,144
Receivables within one year
+€4,898
Deferred charges and accrued income
+€5,529
Trade debts
-€440
Tax, wage and social debts
-€740
Advances received
+€2,664
Other debts
+€57,586
Accrued charges and deferred income
+€641
Investment (derived)
-€350
Investment in fixed assets (net)
-€350
Financing
-€14,290
Debts after one year
-€14,795
Current portion of long-term debt
+€505
Cash 2025
€5,475
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €281,833 | €249,426 | -€32,408 | -11.5% |
| Fixed assets | 21/28 | €210,530 | €190,737 | -€19,794 | -9.4% |
| Tangible fixed assets | 22/27 | €210,530 | €190,387 | -€20,144 | -9.6% |
| Land and buildings | 22 | €51,488 | €51,488 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,435 | €739 | -€696 | -48.5% |
| Furniture and vehicles | 24 | €40,798 | €25,462 | -€15,336 | -37.6% |
| Other tangible fixed assets | 26 | €116,810 | €112,698 | -€4,112 | -3.5% |
| Financial fixed assets | 28 | - | €350 | +€350 | |
| Current assets | 29/58 | €71,303 | €58,689 | -€12,614 | -17.7% |
| Amounts receivable within one year | 40/41 | €12,511 | €7,613 | -€4,898 | -39.1% |
| Trade receivables | 40 | €11,216 | €4,622 | -€6,594 | -58.8% |
| Other amounts receivable | 41 | €1,295 | €2,991 | +€1,696 | +131% |
| Cash at bank and in hand | 54/58 | €7,662 | €5,475 | -€2,187 | -28.5% |
| Deferred charges and accrued income | 490/1 | €51,130 | €45,601 | -€5,529 | -10.8% |
| Total equity and liabilities | 10/49 | €281,833 | €249,426 | -€32,408 | -11.5% |
| Equity | 10/15 | -€183,280 | -€261,108 | -€77,828 | -42.5% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€183,380 | -€261,208 | -€77,828 | -42.4% |
| Amounts payable | 17/49 | €465,113 | €510,534 | +€45,420 | +9.8% |
| Amounts payable after more than one year | 17 | €356,234 | €341,439 | -€14,795 | -4.2% |
| Financial debts | 170/4 | €26,234 | €11,439 | -€14,795 | -56.4% |
| Other amounts payable | 178/9 | €330,000 | €330,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €108,879 | €168,454 | +€59,575 | +54.7% |
| Current portion of amounts payable after more than one year | 42 | €14,290 | €14,795 | +€505 | +3.5% |
| Trade debts | 44 | €3,914 | €3,474 | -€440 | -11.2% |
| Suppliers | 440/4 | €3,914 | €3,474 | -€440 | -11.2% |
| Advances received on contracts in progress | 46 | - | €2,664 | +€2,664 | |
| Taxes, remuneration and social security | 45 | €978 | €238 | -€740 | -75.6% |
| Taxes | 450/3 | €978 | €238 | -€740 | -75.6% |
| Other amounts payable | 47/48 | €89,697 | €147,283 | +€57,586 | +64.2% |
| Accrued charges and deferred income | 492/3 | - | €641 | +€641 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,137 | €20,144 | +€7 | 0.0% |
| Other operating charges | 640/8 | €1,682 | €956 | -€727 | -43.2% |
| Gross operating margin | 9900 | -€8,507 | -€53,921 | -€45,414 | -534% |
| Operating profit (loss) | 9901 | -€30,326 | -€75,020 | -€44,694 | -147% |
| Financial income | 75/76B | €9 | €0 | -€9 | -99.9% |
| Recurring financial income | 75 | €9 | €0 | -€9 | -99.9% |
| Financial charges | 65/66B | €3,849 | €2,709 | -€1,140 | -29.6% |
| Recurring financial charges | 65 | €3,849 | €2,709 | -€1,140 | -29.6% |
| Profit (loss) for the period before taxes | 9903 | -€34,167 | -€77,729 | -€43,562 | -127% |
| Income taxes | 67/77 | €140 | €99 | -€41 | -29.2% |
| Profit (loss) for the period | 9904 | -€34,307 | -€77,828 | -€43,522 | -127% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,307 | -€77,828 | -€43,522 | -127% |
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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 3 November 2026 via checked.be.