Makeda Consulting: 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.
Makeda Consulting
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Cash -€97,503
down €97,503 (-47.7%), from €204,292 to €106,789
mainly Current investments (-€100,000) and Contributions, distributions and other (-€40,000)
- Receivables within one year -€12,983
down €12,983 (-30.0%), from €43,282 to €30,299
of which Trade receivables: -€10,692
- Intangible fixed assets -€4,188
down €4,188 (-55.4%), from €7,562 to €3,374
- Trade debts +€31,846
up €31,846 (+210%), from €15,154 to €47,000
- Reserves -€18,337
down €18,337 (-10.1%), from €181,094 to €162,758
of which Distributable reserves: -€16,477
- Other debts -€12,632
down €12,632 (-38.4%), from €32,870 to €20,239
- Tax, wage and social debts -€11,765
down €11,765 (-57.3%), from €20,515 to €8,750
of which Taxes: -€17,031
- Staff costs +€93,348
up €93,348 (+1,576%), from €5,925 to €99,272
- Gross operating margin +€48,349
up €48,349 (+54.4%), from €88,876 to €137,226
- Taxes -€10,029
down €10,029 (-50.6%), from €19,821 to €9,792
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 | €258,333 | €244,946 | -€13,387 | -5.2% |
| Fixed assets | 21/28 | €10,621 | €6,204 | -€4,417 | -41.6% |
| Intangible fixed assets | 21 | €7,562 | €3,374 | -€4,188 | -55.4% |
| Tangible fixed assets | 22/27 | €2,760 | €2,532 | -€228 | -8.3% |
| Plant, machinery and equipment | 23 | - | €721 | +€721 | |
| Furniture and vehicles | 24 | €2,760 | €1,811 | -€949 | -34.4% |
| Financial fixed assets | 28 | €298 | €298 | = | 0.0% |
| Current assets | 29/58 | €247,713 | €238,742 | -€8,970 | -3.6% |
| Amounts receivable within one year | 40/41 | €43,282 | €30,299 | -€12,983 | -30.0% |
| Trade receivables | 40 | €35,477 | €24,785 | -€10,692 | -30.1% |
| Other amounts receivable | 41 | €7,805 | €5,514 | -€2,291 | -29.4% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €204,292 | €106,789 | -€97,503 | -47.7% |
| Deferred charges and accrued income | 490/1 | €139 | €1,655 | +€1,516 | +1,095% |
| Total equity and liabilities | 10/49 | €258,333 | €244,946 | -€13,387 | -5.2% |
| Equity | 10/15 | €187,294 | €168,958 | -€18,337 | -9.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | - | -€6,200 | |
| Other | 1109/19 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €181,094 | €162,758 | -€18,337 | -10.1% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €179,234 | €162,758 | -€16,477 | -9.2% |
| Amounts payable | 17/49 | €71,039 | €75,989 | +€4,950 | +7.0% |
| Amounts payable within one year | 42/48 | €71,039 | €75,989 | +€4,950 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €2,500 | - | -€2,500 | |
| Trade debts | 44 | €15,154 | €47,000 | +€31,846 | +210% |
| Suppliers | 440/4 | €15,154 | €47,000 | +€31,846 | +210% |
| Taxes, remuneration and social security | 45 | €20,515 | €8,750 | -€11,765 | -57.3% |
| Taxes | 450/3 | €17,047 | €16 | -€17,031 | -99.9% |
| Remuneration and social security | 454/9 | €3,468 | €8,734 | +€5,266 | +152% |
| Other amounts payable | 47/48 | €32,870 | €20,239 | -€12,632 | -38.4% |
| Non-recurring operating income | 76A | €3,150 | - | -€3,150 | |
| Remuneration, social security and pensions | 62 | €5,925 | €99,272 | +€93,348 | +1,576% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,275 | €5,490 | +€1,216 | +28.4% |
| Other operating charges | 640/8 | €402 | - | -€402 | |
| Gross operating margin | 9900 | €88,876 | €137,226 | +€48,349 | +54.4% |
| Operating profit (loss) | 9901 | €78,275 | €32,463 | -€45,812 | -58.5% |
| Financial income | 75/76B | €0 | €128 | +€128 | +213,767% |
| Recurring financial income | 75 | €0 | €128 | +€128 | +213,767% |
| Financial charges | 65/66B | €924 | €1,137 | +€213 | +23.1% |
| Recurring financial charges | 65 | €924 | €1,137 | +€213 | +23.1% |
| Profit (loss) for the period before taxes | 9903 | €77,352 | €31,455 | -€45,897 | -59.3% |
| Income taxes | 67/77 | €19,821 | €9,792 | -€10,029 | -50.6% |
| Profit (loss) for the period | 9904 | €57,531 | €21,663 | -€35,867 | -62.3% |
| Profit (loss) for the period to be appropriated | 9905 | €57,531 | €21,663 | -€35,867 | -62.3% |
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 1 November 2026 via checked.be.