MAKIEH: what changed
MAKIEH
Largest movements
- Receivables within one year +€7,101
up €7,101 (+112%), from €6,358 to €13,459
of which Trade receivables: +€7,248
- Tangible fixed assets -€5,976
down €5,976 (-34.1%), from €17,529 to €11,552
- Tax, wage and social debts +€920
new in 2025: €920
of which Taxes: +€691
- Profit (loss) carried forward +€578
up €578 (+268%), from €216 to €794
- Trade debts -€556
down €556 (-7.4%), from €7,536 to €6,980
- Staff costs +€7,589
up €7,589 (+4,312%), from €176 to €7,765
- Gross operating margin +€5,308
up €5,308 (+50.2%), from €10,565 to €15,874
- Other operating charges -€1,641
down €1,641 (-62.4%), from €2,630 to €988
- Depreciation -€1,514
down €1,514 (-20.2%), from €7,491 to €5,976
- Taxes +€516
new in 2025: €516
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 | €26,351 | €27,363 | +€1,012 | +3.8% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €17,529 | €11,552 | -€5,976 | -34.1% |
| Tangible fixed assets | 22/27 | €17,529 | €11,552 | -€5,976 | -34.1% |
| Furniture and vehicles | 24 | €17,529 | €11,552 | -€5,976 | -34.1% |
| Current assets | 29/58 | €8,823 | €15,811 | +€6,988 | +79.2% |
| Amounts receivable within one year | 40/41 | €6,358 | €13,459 | +€7,101 | +112% |
| Trade receivables | 40 | €5,155 | €12,403 | +€7,248 | +141% |
| Other amounts receivable | 41 | €1,202 | €1,056 | -€147 | -12.2% |
| Cash at bank and in hand | 54/58 | €2,465 | €2,352 | -€113 | -4.6% |
| Total equity and liabilities | 10/49 | €26,351 | €27,363 | +€1,012 | +3.8% |
| Equity | 10/15 | €18,816 | €19,394 | +€578 | +3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €216 | €794 | +€578 | +268% |
| Amounts payable | 17/49 | €7,536 | €7,969 | +€434 | +5.8% |
| Amounts payable within one year | 42/48 | €7,536 | €7,969 | +€434 | +5.8% |
| Trade debts | 44 | €7,536 | €6,980 | -€556 | -7.4% |
| Suppliers | 440/4 | €7,536 | €6,980 | -€556 | -7.4% |
| Taxes, remuneration and social security | 45 | - | €920 | +€920 | |
| Taxes | 450/3 | - | €691 | +€691 | |
| Remuneration and social security | 454/9 | - | €229 | +€229 | |
| Other amounts payable | 47/48 | - | €70 | +€70 | |
| Remuneration, social security and pensions | 62 | €176 | €7,765 | +€7,589 | +4,312% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,491 | €5,976 | -€1,514 | -20.2% |
| Other operating charges | 640/8 | €2,630 | €988 | -€1,641 | -62.4% |
| Gross operating margin | 9900 | €10,565 | €15,874 | +€5,308 | +50.2% |
| Operating profit (loss) | 9901 | €269 | €1,144 | +€875 | +325% |
| Financial charges | 65/66B | €54 | €50 | -€4 | -7.6% |
| Recurring financial charges | 65 | €54 | €50 | -€4 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €216 | €1,094 | +€879 | +408% |
| Income taxes | 67/77 | - | €516 | +€516 | |
| Profit (loss) for the period | 9904 | €216 | €578 | +€363 | +168% |
| Profit (loss) for the period to be appropriated | 9905 | €216 | €578 | +€363 | +168% |
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 4 November 2026 via checked.be.