Makkers: what changed
Two fiscal 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.
Makkers
Largest movements
- Cash -€92,991
down €92,991 (-45.0%), from €206,670 to €113,680
mainly Investment in fixed assets (net) (-€98,444) and Debts after one year (-€41,280)
- Tangible fixed assets +€43,187
up €43,187 (+4.0%), from €1.1m to €1.1m
of which Other tangible fixed assets: +€62,518
- Debts after one year -€41,280
down €41,280 (-3.4%), from €1.2m to €1.2m
- Gross operating margin -€69,249
down €69,249 (-57.7%), from €120,083 to €50,835
- Depreciation +€9,509
up €9,509 (+20.7%), from €45,966 to €55,475
- Taxes -€5,704
no longer reported in 2025 (was €5,704)
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.
Cash bridge derived
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 | €1,325,700 | €1,272,694 | -€53,006 | -4.0% |
| Fixed assets | 21/28 | €1,091,307 | €1,134,276 | +€42,969 | +3.9% |
| Intangible fixed assets | 21 | €1,164 | €946 | -€218 | -18.7% |
| Tangible fixed assets | 22/27 | €1,090,143 | €1,133,330 | +€43,187 | +4.0% |
| Land and buildings | 22 | €1,025,293 | €1,008,412 | -€16,881 | -1.6% |
| Plant, machinery and equipment | 23 | €8,197 | €4,861 | -€3,335 | -40.7% |
| Furniture and vehicles | 24 | €12,357 | €13,242 | +€886 | +7.2% |
| Other tangible fixed assets | 26 | €44,297 | €106,815 | +€62,518 | +141.1% |
| Current assets | 29/58 | €234,392 | €138,418 | -€95,975 | -40.9% |
| Stocks and contracts in progress | 3 | €1,398 | - | -€1,398 | |
| Stocks | 30/36 | €1,398 | - | -€1,398 | |
| Amounts receivable within one year | 40/41 | €26,324 | €24,738 | -€1,586 | -6.0% |
| Trade receivables | 40 | €26,324 | €24,738 | -€1,586 | -6.0% |
| Cash at bank and in hand | 54/58 | €206,670 | €113,680 | -€92,991 | -45.0% |
| Total equity and liabilities | 10/49 | €1,325,700 | €1,272,694 | -€53,006 | -4.0% |
| Equity | 10/15 | €60,977 | €50,398 | -€10,579 | -17.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,977 | €47,398 | -€10,579 | -18.2% |
| Amounts payable | 17/49 | €1,264,723 | €1,222,296 | -€42,427 | -3.4% |
| Amounts payable after more than one year | 17 | €1,227,715 | €1,186,435 | -€41,280 | -3.4% |
| Financial debts | 170/4 | €1,227,715 | €1,186,435 | -€41,280 | -3.4% |
| Amounts payable within one year | 42/48 | €37,008 | €35,861 | -€1,147 | -3.1% |
| Trade debts | 44 | €1,920 | €4,176 | +€2,255 | +117.4% |
| Suppliers | 440/4 | €1,920 | €4,176 | +€2,255 | +117.4% |
| Advances received on contracts in progress | 46 | €26,324 | €22,324 | -€4,000 | -15.2% |
| Taxes, remuneration and social security | 45 | €8,394 | €9,056 | +€662 | +7.9% |
| Taxes | 450/3 | €8,394 | €9,056 | +€662 | +7.9% |
| Other amounts payable | 47/48 | €370 | €306 | -€64 | -17.4% |
| Remuneration, social security and pensions | 62 | €432 | - | -€432 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,966 | €55,475 | +€9,509 | +20.7% |
| Other operating charges | 640/8 | €6,963 | €5,808 | -€1,155 | -16.6% |
| Gross operating margin | 9900 | €120,083 | €50,835 | -€69,249 | -57.7% |
| Operating profit (loss) | 9901 | €66,722 | -€10,448 | -€77,171 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €83 | €130 | +€48 | +58.1% |
| Recurring financial charges | 65 | €83 | €130 | +€48 | +58.1% |
| Profit (loss) for the period before taxes | 9903 | €66,640 | -€10,579 | -€77,218 | |
| Income taxes | 67/77 | €5,704 | - | -€5,704 | |
| Profit (loss) for the period | 9904 | €60,936 | -€10,579 | -€71,514 | |
| Profit (loss) for the period to be appropriated | 9905 | €60,936 | -€10,579 | -€71,514 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.