MAKLIBO: 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.
MAKLIBO
Largest movements
- Receivables within one year +€52,219
up €52,219 (+50.7%), from €102,909 to €155,127
of which Trade receivables: +€43,633
- Tangible fixed assets -€17,722
down €17,722 (-45.7%), from €38,815 to €21,093
of which Leasing and similar rights: -€14,703
- Cash -€7,676
down €7,676 (-21.4%), from €35,892 to €28,216
mainly Receivables within one year (-€52,219) and Investment in fixed assets (net) (-€9,868)
- Deferred charges and accrued income -€7,037
down €7,037 (-54.6%), from €12,878 to €5,841
- Trade debts +€18,912
up €18,912 (+39.7%), from €47,683 to €66,595
- Current portion of long-term debt -€9,002
down €9,002 (-57.3%), from €15,720 to €6,718
- Profit (loss) carried forward +€8,283
no longer reported in 2025 (was -€8,283)
- Reserves +€7,901
up €7,901 (+6.9%), from €115,193 to €123,093
- Debts after one year -€6,718
no longer reported in 2025 (was €6,718)
- Staff costs -€9,820
down €9,820 (-6.1%), from €159,796 to €149,976
- Depreciation -€6,541
down €6,541 (-19.4%), from €33,747 to €27,205
- Financial charges +€3,491
up €3,491 (+204%), from €1,711 to €5,202
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 | €190,493 | €210,662 | +€20,169 | +10.6% |
| Fixed assets | 21/28 | €38,815 | €21,478 | -€17,337 | -44.7% |
| Tangible fixed assets | 22/27 | €38,815 | €21,093 | -€17,722 | -45.7% |
| Plant, machinery and equipment | 23 | €11,669 | €6,436 | -€5,233 | -44.8% |
| Furniture and vehicles | 24 | €2,254 | €4,467 | +€2,214 | +98.2% |
| Leasing and similar rights | 25 | €24,892 | €10,189 | -€14,703 | -59.1% |
| Financial fixed assets | 28 | - | €385 | +€385 | |
| Current assets | 29/58 | €151,678 | €189,184 | +€37,506 | +24.7% |
| Amounts receivable within one year | 40/41 | €102,909 | €155,127 | +€52,219 | +50.7% |
| Trade receivables | 40 | €54,395 | €98,027 | +€43,633 | +80.2% |
| Other amounts receivable | 41 | €48,514 | €57,100 | +€8,586 | +17.7% |
| Cash at bank and in hand | 54/58 | €35,892 | €28,216 | -€7,676 | -21.4% |
| Deferred charges and accrued income | 490/1 | €12,878 | €5,841 | -€7,037 | -54.6% |
| Total equity and liabilities | 10/49 | €190,493 | €210,662 | +€20,169 | +10.6% |
| Equity | 10/15 | €113,109 | €129,293 | +€16,184 | +14.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €115,193 | €123,093 | +€7,901 | +6.9% |
| Distributable reserves | 133 | €115,193 | €123,093 | +€7,901 | +6.9% |
| Profit (loss) carried forward | 14 | -€8,283 | - | +€8,283 | |
| Amounts payable | 17/49 | €77,384 | €81,369 | +€3,985 | +5.1% |
| Amounts payable after more than one year | 17 | €6,718 | - | -€6,718 | |
| Financial debts | 170/4 | €6,718 | - | -€6,718 | |
| Amounts payable within one year | 42/48 | €70,666 | €81,369 | +€10,703 | +15.1% |
| Current portion of amounts payable after more than one year | 42 | €15,720 | €6,718 | -€9,002 | -57.3% |
| Financial debts | 43 | €3,333 | €3,369 | +€36 | +1.1% |
| Credit institutions | 430/8 | €3,333 | €3,369 | +€36 | +1.1% |
| Trade debts | 44 | €47,683 | €66,595 | +€18,912 | +39.7% |
| Suppliers | 440/4 | €47,683 | €66,595 | +€18,912 | +39.7% |
| Taxes, remuneration and social security | 45 | €3,930 | €4,686 | +€756 | +19.2% |
| Taxes | 450/3 | €3,930 | €555 | -€3,375 | -85.9% |
| Remuneration and social security | 454/9 | - | €4,131 | +€4,131 | |
| Remuneration, social security and pensions | 62 | €159,796 | €149,976 | -€9,820 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,747 | €27,205 | -€6,541 | -19.4% |
| Other operating charges | 640/8 | €5,603 | €3,829 | -€1,774 | -31.7% |
| Gross operating margin | 9900 | €203,777 | €203,618 | -€158 | -0.1% |
| Operating profit (loss) | 9901 | €4,631 | €22,608 | +€17,976 | +388% |
| Financial income | 75/76B | €640 | €1,391 | +€751 | +117% |
| Recurring financial income | 75 | €640 | €1,391 | +€751 | +117% |
| Financial charges | 65/66B | €1,711 | €5,202 | +€3,491 | +204% |
| Recurring financial charges | 65 | €1,711 | €5,202 | +€3,491 | +204% |
| Profit (loss) for the period before taxes | 9903 | €3,561 | €18,797 | +€15,236 | +428% |
| Income taxes | 67/77 | €168 | €947 | +€779 | +462% |
| Profit (loss) for the period | 9904 | €3,393 | €17,850 | +€14,457 | +426% |
| Profit (loss) for the period to be appropriated | 9905 | €3,393 | €17,850 | +€14,457 | +426% |
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 16 October 2026 via checked.be.