MAKIAM: 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.
MAKIAM
Largest movements
- Receivables within one year +€150,335
up €150,335 (+2,497%), from €6,021 to €156,357
- Debts after one year +€150,000
new in 2025: €150,000
- Profit (loss) carried forward -€1,746
down €1,746 (-40.0%), from -€4,366 to -€6,113
- Other operating charges -€387
no longer reported in 2025 (was €387)
- Gross operating margin -€124
down €124 (-6.7%), from -€1,842 to -€1,966
- Financial charges +€116
new in 2025: €116
- Financial income -€73
down €73 (-17.9%), from €408 to €335
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 | €6,021 | €156,532 | +€150,511 | +2,500% |
| Current assets | 29/58 | €6,021 | €156,532 | +€150,511 | +2,500% |
| Amounts receivable within one year | 40/41 | €6,021 | €156,357 | +€150,335 | +2,497% |
| Other amounts receivable | 41 | €6,021 | €156,357 | +€150,335 | +2,497% |
| Cash at bank and in hand | 54/58 | - | €175 | +€175 | |
| Total equity and liabilities | 10/49 | €6,021 | €156,532 | +€150,511 | +2,500% |
| Equity | 10/15 | €5,634 | €3,888 | -€1,746 | -31.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,366 | -€6,113 | -€1,746 | -40.0% |
| Amounts payable | 17/49 | €387 | €152,644 | +€152,257 | +39,308% |
| Amounts payable after more than one year | 17 | - | €150,000 | +€150,000 | |
| Financial debts | 170/4 | - | €150,000 | +€150,000 | |
| Amounts payable within one year | 42/48 | €387 | €2,644 | +€2,257 | +583% |
| Trade debts | 44 | €387 | €1,627 | +€1,240 | +320% |
| Suppliers | 440/4 | €387 | €1,627 | +€1,240 | +320% |
| Other amounts payable | 47/48 | - | €1,018 | +€1,018 | |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | -€1,842 | -€1,966 | -€124 | -6.7% |
| Operating profit (loss) | 9901 | -€2,229 | -€1,966 | +€263 | +11.8% |
| Financial income | 75/76B | €408 | €335 | -€73 | -17.9% |
| Recurring financial income | 75 | €408 | €335 | -€73 | -17.9% |
| Financial charges | 65/66B | - | €116 | +€116 | |
| Recurring financial charges | 65 | - | €116 | +€116 | |
| Profit (loss) for the period before taxes | 9903 | -€1,821 | -€1,746 | +€74 | +4.1% |
| Profit (loss) for the period | 9904 | -€1,821 | -€1,746 | +€74 | +4.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,821 | -€1,746 | +€74 | +4.1% |
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 13 October 2026 via checked.be.