MAKINE.BE: 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.
MAKINE.BE
Largest movements
- Financial fixed assets -€53,332
down €53,332 (-76.2%), from €70,000 to €16,668
- Receivables after one year +€53,332
new in 2025: €53,332
- Cash +€19,959
up €19,959 (+46.0%), from €43,382 to €63,341
mainly Investment in fixed assets (net) (+€50,744) and Net result for the year (+€32,015)
- Receivables within one year -€7,335
no longer reported in 2025 (was €7,335)
- Tangible fixed assets +€2,214
new in 2025: €2,214
- Profit (loss) carried forward +€32,015
new in 2025: €32,015
- Other debts -€8,217
down €8,217 (-21.7%), from €37,903 to €29,687
- Debts after one year -€6,987
down €6,987 (-32.3%), from €21,620 to €14,634
- Accrued charges and deferred income -€2,287
no longer reported in 2025 (was €2,287)
- Gross operating margin +€2,788
up €2,788 (+6.6%), from €42,289 to €45,076
- Financial charges -€2,678
down €2,678 (-61.0%), from €4,387 to €1,709
- Taxes -€1,230
down €1,230 (-9.8%), from €12,505 to €11,275
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 | €121,290 | €136,179 | +€14,889 | +12.3% |
| Fixed assets | 21/28 | €70,000 | €18,882 | -€51,118 | -73.0% |
| Tangible fixed assets | 22/27 | - | €2,214 | +€2,214 | |
| Plant, machinery and equipment | 23 | - | €2,214 | +€2,214 | |
| Financial fixed assets | 28 | €70,000 | €16,668 | -€53,332 | -76.2% |
| Current assets | 29/58 | €51,290 | €117,297 | +€66,007 | +129% |
| Amounts receivable after more than one year | 29 | - | €53,332 | +€53,332 | |
| Other amounts receivable | 291 | - | €53,332 | +€53,332 | |
| Amounts receivable within one year | 40/41 | €7,335 | - | -€7,335 | |
| Trade receivables | 40 | €7,335 | - | -€7,335 | |
| Cash at bank and in hand | 54/58 | €43,382 | €63,341 | +€19,959 | +46.0% |
| Deferred charges and accrued income | 490/1 | €573 | €624 | +€51 | +8.9% |
| Total equity and liabilities | 10/49 | €121,290 | €136,179 | +€14,889 | +12.3% |
| Equity | 10/15 | €49,124 | €81,139 | +€32,015 | +65.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €44,124 | €44,124 | = | 0.0% |
| Distributable reserves | 133 | €44,124 | €44,124 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €32,015 | +€32,015 | |
| Amounts payable | 17/49 | €72,166 | €55,040 | -€17,126 | -23.7% |
| Amounts payable after more than one year | 17 | €21,620 | €14,634 | -€6,987 | -32.3% |
| Financial debts | 170/4 | €21,620 | €14,634 | -€6,987 | -32.3% |
| Amounts payable within one year | 42/48 | €48,259 | €40,406 | -€7,853 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €6,817 | €6,987 | +€170 | +2.5% |
| Trade debts | 44 | €36 | €35 | -€1 | -4.0% |
| Suppliers | 440/4 | €36 | €35 | -€1 | -4.0% |
| Taxes, remuneration and social security | 45 | €3,502 | €3,698 | +€196 | +5.6% |
| Taxes | 450/3 | €3,502 | €3,698 | +€196 | +5.6% |
| Other amounts payable | 47/48 | €37,903 | €29,687 | -€8,217 | -21.7% |
| Accrued charges and deferred income | 492/3 | €2,287 | - | -€2,287 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €344 | €374 | +€30 | +8.7% |
| Gross operating margin | 9900 | €42,289 | €45,076 | +€2,788 | +6.6% |
| Operating profit (loss) | 9901 | €41,944 | €44,702 | +€2,758 | +6.6% |
| Financial income | 75/76B | €10 | €298 | +€288 | +2,863% |
| Recurring financial income | 75 | €10 | €298 | +€288 | +2,863% |
| Financial charges | 65/66B | €4,387 | €1,709 | -€2,678 | -61.0% |
| Recurring financial charges | 65 | €4,387 | €1,709 | -€2,678 | -61.0% |
| Profit (loss) for the period before taxes | 9903 | €37,567 | €43,291 | +€5,723 | +15.2% |
| Income taxes | 67/77 | €12,505 | €11,275 | -€1,230 | -9.8% |
| Profit (loss) for the period | 9904 | €25,062 | €32,015 | +€6,953 | +27.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,062 | €32,015 | +€6,953 | +27.7% |
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 19 October 2026 via checked.be.