MAKEDA: what changed
Two fiscal 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.
MAKEDA
Largest movements
- Tangible fixed assets +€281,293
up €281,293 (+26494.5%), from €1,062 to €282,354
of which Land and buildings: +€270,633
- Receivables within one year -€51,866
no longer reported in 2024 (was €51,866)
of which Trade receivables: -€51,861
- Debts after one year +€238,111
new in 2024: €238,111
- Trade debts -€31,102
down €31,102 (-65.1%), from €47,769 to €16,667
- Tax, wage and social debts +€13,457
up €13,457 (+33.0%), from €40,747 to €54,204
of which Taxes: +€9,100
- Current portion of long-term debt +€10,382
new in 2024: €10,382
- Advances received -€5,599
no longer reported in 2024 (was €5,599)
- Staff costs +€33,014
up €33,014 (+16.0%), from €206,078 to €239,091
- Other operating charges +€30,269
up €30,269 (+1981.5%), from €1,528 to €31,797
- Taxes -€13,415
down €13,415 (-85.6%), from €15,672 to €2,258
- Depreciation +€3,893
up €3,893 (+733.3%), from €531 to €4,423
- Gross operating margin +€3,202
up €3,202 (+1.1%), from €281,168 to €284,370
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €156,449 | €385,824 | +€229,374 | +146.6% |
| Fixed assets | 21/28 | €1,062 | €282,354 | +€281,293 | +26494.5% |
| Tangible fixed assets | 22/27 | €1,062 | €282,354 | +€281,293 | +26494.5% |
| Land and buildings | 22 | - | €270,633 | +€270,633 | |
| Plant, machinery and equipment | 23 | - | €11,190 | +€11,190 | |
| Furniture and vehicles | 24 | €1,062 | €531 | -€531 | -50.0% |
| Current assets | 29/58 | €155,387 | €103,469 | -€51,918 | -33.4% |
| Stocks and contracts in progress | 3 | €18,256 | €17,226 | -€1,031 | -5.6% |
| Stocks | 30/36 | €18,256 | €17,226 | -€1,031 | -5.6% |
| Amounts receivable within one year | 40/41 | €51,866 | - | -€51,866 | |
| Trade receivables | 40 | €51,861 | - | -€51,861 | |
| Other amounts receivable | 41 | €5 | - | -€5 | |
| Cash at bank and in hand | 54/58 | €84,502 | €84,511 | +€9 | 0.0% |
| Deferred charges and accrued income | 490/1 | €763 | €1,732 | +€969 | +127.0% |
| Total equity and liabilities | 10/49 | €156,449 | €385,824 | +€229,374 | +146.6% |
| Equity | 10/15 | €61,643 | €66,298 | +€4,655 | +7.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €4,655 | +€4,655 | |
| Distributable reserves | 133 | - | €4,655 | +€4,655 | |
| Profit (loss) carried forward | 14 | €56,643 | €56,643 | = | 0.0% |
| Amounts payable | 17/49 | €94,807 | €319,526 | +€224,719 | +237.0% |
| Amounts payable after more than one year | 17 | - | €238,111 | +€238,111 | |
| Financial debts | 170/4 | - | €238,111 | +€238,111 | |
| Amounts payable within one year | 42/48 | €94,807 | €81,415 | -€13,391 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | - | €10,382 | +€10,382 | |
| Trade debts | 44 | €47,769 | €16,667 | -€31,102 | -65.1% |
| Suppliers | 440/4 | €47,769 | €16,667 | -€31,102 | -65.1% |
| Advances received on contracts in progress | 46 | €5,599 | - | -€5,599 | |
| Taxes, remuneration and social security | 45 | €40,747 | €54,204 | +€13,457 | +33.0% |
| Taxes | 450/3 | €23,205 | €32,305 | +€9,100 | +39.2% |
| Remuneration and social security | 454/9 | €17,542 | €21,899 | +€4,357 | +24.8% |
| Other amounts payable | 47/48 | €692 | €163 | -€530 | -76.5% |
| Remuneration, social security and pensions | 62 | €206,078 | €239,091 | +€33,014 | +16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €531 | €4,423 | +€3,893 | +733.3% |
| Other operating charges | 640/8 | €1,528 | €31,797 | +€30,269 | +1981.5% |
| Gross operating margin | 9900 | €281,168 | €284,370 | +€3,202 | +1.1% |
| Operating profit (loss) | 9901 | €73,032 | €9,058 | -€63,973 | -87.6% |
| Financial income | 75/76B | €2,002 | - | -€2,002 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Non-recurring financial income | 76B | €2,000 | - | -€2,000 | |
| Financial charges | 65/66B | €2,719 | €2,146 | -€574 | -21.1% |
| Recurring financial charges | 65 | €2,719 | €2,146 | -€574 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €72,315 | €6,913 | -€65,402 | -90.4% |
| Income taxes | 67/77 | €15,672 | €2,258 | -€13,415 | -85.6% |
| Profit (loss) for the period | 9904 | €56,643 | €4,655 | -€51,988 | -91.8% |
| Profit (loss) for the period to be appropriated | 9905 | €56,643 | €4,655 | -€51,988 | -91.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.