MAKLADI: 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.
MAKLADI
Largest movements
- Receivables within one year +€19,959
up €19,959 (+4.2%), from €476,009 to €495,968
of which Trade receivables: +€24,175
- Other debts +€108,259
up €108,259 (+12.8%), from €844,304 to €952,563
- Trade debts -€92,680
down €92,680 (-60.4%), from €153,455 to €60,775
- Profit (loss) carried forward -€69,575
down €69,575 (-97.9%), from -€71,039 to -€140,614
- Debts after one year +€63,358
up €63,358 (+9.7%), from €649,838 to €713,196
- Accrued charges and deferred income +€26,483
up €26,483 (+62.9%), from €42,087 to €68,570
- Gross operating margin -€41,167
down €41,167 (-69.5%), from €59,233 to €18,067
- Financial income -€10,014
down €10,014 (-72.8%), from €13,748 to €3,734
- Depreciation +€7,054
up €7,054 (+28.6%), from €24,635 to €31,688
- Financial charges +€3,500
up €3,500 (+6.8%), from €51,762 to €55,261
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 | €1,802,476 | €1,839,448 | +€36,972 | +2.1% |
| Fixed assets | 21/28 | €1,326,134 | €1,342,119 | +€15,985 | +1.2% |
| Tangible fixed assets | 22/27 | €1,326,134 | €1,342,119 | +€15,985 | +1.2% |
| Land and buildings | 22 | €1,324,200 | €1,340,684 | +€16,485 | +1.2% |
| Plant, machinery and equipment | 23 | €1,934 | €1,434 | -€500 | -25.8% |
| Current assets | 29/58 | €476,342 | €497,330 | +€20,988 | +4.4% |
| Amounts receivable within one year | 40/41 | €476,009 | €495,968 | +€19,959 | +4.2% |
| Trade receivables | 40 | €67,096 | €91,271 | +€24,175 | +36.0% |
| Other amounts receivable | 41 | €408,913 | €404,697 | -€4,216 | -1.0% |
| Cash at bank and in hand | 54/58 | €26 | €285 | +€259 | +981% |
| Deferred charges and accrued income | 490/1 | €306 | €1,076 | +€770 | +251% |
| Total equity and liabilities | 10/49 | €1,802,476 | €1,839,448 | +€36,972 | +2.1% |
| Equity | 10/15 | €86,461 | €16,886 | -€69,575 | -80.5% |
| Contributions | 10/11 | €157,500 | €157,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,039 | -€140,614 | -€69,575 | -97.9% |
| Amounts payable | 17/49 | €1,716,015 | €1,822,562 | +€106,548 | +6.2% |
| Amounts payable after more than one year | 17 | €649,838 | €713,196 | +€63,358 | +9.7% |
| Financial debts | 170/4 | €649,838 | €713,196 | +€63,358 | +9.7% |
| Amounts payable within one year | 42/48 | €1,024,089 | €1,040,795 | +€16,706 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €26,330 | €27,457 | +€1,127 | +4.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €153,455 | €60,775 | -€92,680 | -60.4% |
| Suppliers | 440/4 | €153,455 | €60,775 | -€92,680 | -60.4% |
| Other amounts payable | 47/48 | €844,304 | €952,563 | +€108,259 | +12.8% |
| Accrued charges and deferred income | 492/3 | €42,087 | €68,570 | +€26,483 | +62.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,635 | €31,688 | +€7,054 | +28.6% |
| Other operating charges | 640/8 | €4,875 | €4,426 | -€449 | -9.2% |
| Gross operating margin | 9900 | €59,233 | €18,067 | -€41,167 | -69.5% |
| Operating profit (loss) | 9901 | €29,724 | -€18,048 | -€47,772 | |
| Financial income | 75/76B | €13,748 | €3,734 | -€10,014 | -72.8% |
| Recurring financial income | 75 | €13,748 | €3,734 | -€10,014 | -72.8% |
| Financial charges | 65/66B | €51,762 | €55,261 | +€3,500 | +6.8% |
| Recurring financial charges | 65 | €51,762 | €55,261 | +€3,500 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | -€8,290 | -€69,575 | -€61,285 | -739% |
| Profit (loss) for the period | 9904 | -€8,290 | -€69,575 | -€61,285 | -739% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,290 | -€69,575 | -€61,285 | -739% |
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.