MAKINÉ: 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.
MAKINÉ
Largest movements
- Cash +€57,339
up €57,339 (+221%), from €25,977 to €83,316
mainly Net result for the year (+€33,473) and Other debts (+€9,426)
- Receivables within one year -€5,019
no longer reported in 2025 (was €5,019)
- Tangible fixed assets -€2,243
down €2,243 (-38.3%), from €5,858 to €3,615
of which Plant, machinery and equipment: -€1,726
- Profit (loss) carried forward +€33,473
up €33,473 (+155%), from €21,529 to €55,002
- Other debts +€9,426
up €9,426 (+292%), from €3,232 to €12,658
- Tax, wage and social debts +€8,834
up €8,834 (+164%), from €5,398 to €14,232
of which Taxes: +€8,834
- Trade debts -€1,875
down €1,875 (-97.9%), from €1,915 to €40
- Gross operating margin +€17,719
up €17,719 (+62.1%), from €28,514 to €46,233
- Taxes +€3,436
up €3,436 (+63.7%), from €5,398 to €8,834
- Staff costs +€1,672
new in 2025: €1,672
- Depreciation +€699
up €699 (+45.3%), from €1,544 to €2,243
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 | €37,074 | €86,931 | +€49,857 | +134% |
| Fixed assets | 21/28 | €5,858 | €3,615 | -€2,243 | -38.3% |
| Tangible fixed assets | 22/27 | €5,858 | €3,615 | -€2,243 | -38.3% |
| Plant, machinery and equipment | 23 | €4,023 | €2,297 | -€1,726 | -42.9% |
| Furniture and vehicles | 24 | €1,835 | €1,318 | -€517 | -28.2% |
| Current assets | 29/58 | €31,216 | €83,316 | +€52,100 | +167% |
| Amounts receivable within one year | 40/41 | €5,019 | - | -€5,019 | |
| Trade receivables | 40 | €5,019 | - | -€5,019 | |
| Cash at bank and in hand | 54/58 | €25,977 | €83,316 | +€57,339 | +221% |
| Deferred charges and accrued income | 490/1 | €220 | - | -€220 | |
| Total equity and liabilities | 10/49 | €37,074 | €86,931 | +€49,857 | +134% |
| Equity | 10/15 | €26,529 | €60,002 | +€33,473 | +126% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,529 | €55,002 | +€33,473 | +155% |
| Amounts payable | 17/49 | €10,544 | €26,929 | +€16,385 | +155% |
| Amounts payable within one year | 42/48 | €10,544 | €26,929 | +€16,385 | +155% |
| Trade debts | 44 | €1,915 | €40 | -€1,875 | -97.9% |
| Suppliers | 440/4 | €1,915 | €40 | -€1,875 | -97.9% |
| Taxes, remuneration and social security | 45 | €5,398 | €14,232 | +€8,834 | +164% |
| Taxes | 450/3 | €5,398 | €14,232 | +€8,834 | +164% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,232 | €12,658 | +€9,426 | +292% |
| Remuneration, social security and pensions | 62 | - | €1,672 | +€1,672 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,544 | €2,243 | +€699 | +45.3% |
| Gross operating margin | 9900 | €28,514 | €46,233 | +€17,719 | +62.1% |
| Operating profit (loss) | 9901 | €26,970 | €42,318 | +€15,347 | +56.9% |
| Financial income | 75/76B | - | €73 | +€73 | |
| Recurring financial income | 75 | - | €73 | +€73 | |
| Financial charges | 65/66B | €43 | €84 | +€41 | +94.6% |
| Recurring financial charges | 65 | €43 | €84 | +€41 | +94.6% |
| Profit (loss) for the period before taxes | 9903 | €26,927 | €42,306 | +€15,379 | +57.1% |
| Income taxes | 67/77 | €5,398 | €8,834 | +€3,436 | +63.7% |
| Profit (loss) for the period | 9904 | €21,529 | €33,473 | +€11,943 | +55.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,529 | €33,473 | +€11,943 | +55.5% |
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 17 October 2026 via checked.be.