MAKRI-TELESERVICE: 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.
MAKRI-TELESERVICE
Largest movements
- Tangible fixed assets +€9,421
up €9,421 (+17.5%), from €53,846 to €63,268
of which Furniture and vehicles: +€12,937
- Stocks and contracts +€6,631
up €6,631 (+5.0%), from €131,375 to €138,006
- Cash -€5,609
down €5,609 (-17.6%), from €31,797 to €26,189
mainly Investment in fixed assets (net) (-€38,406) and Trade debts (-€12,494)
- Receivables within one year +€4,251
up €4,251 (+116%), from €3,659 to €7,909
of which Trade receivables: +€4,251
- Profit (loss) carried forward +€16,234
up €16,234 (+50.3%), from -€32,294 to -€16,060
- Trade debts -€12,494
down €12,494 (-45.5%), from €27,430 to €14,936
- Current portion of long-term debt +€10,150
up €10,150 (+358%), from €2,832 to €12,981
- Debts after one year +€3,635
up €3,635 (+6.1%), from €59,337 to €62,971
- Depreciation +€12,881
up €12,881 (+80.0%), from €16,103 to €28,984
- Financial charges +€7,548
up €7,548, from -€3,354 to €4,194
of which Non-recurring financial charges: +€4,356
- Financial income +€7,263
new in 2025: €7,263
- Gross operating margin -€4,672
down €4,672 (-9.3%), from €50,227 to €45,555
- Other operating charges -€3,616
down €3,616 (-83.3%), from €4,342 to €726
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 | €220,678 | €235,371 | +€14,694 | +6.7% |
| Fixed assets | 21/28 | €53,846 | €63,268 | +€9,421 | +17.5% |
| Tangible fixed assets | 22/27 | €53,846 | €63,268 | +€9,421 | +17.5% |
| Land and buildings | 22 | €7,539 | €5,574 | -€1,965 | -26.1% |
| Plant, machinery and equipment | 23 | €1,020 | €815 | -€205 | -20.1% |
| Furniture and vehicles | 24 | €37,215 | €50,152 | +€12,937 | +34.8% |
| Leasing and similar rights | 25 | €4,466 | €3,882 | -€584 | -13.1% |
| Other tangible fixed assets | 26 | €3,606 | €2,845 | -€762 | -21.1% |
| Current assets | 29/58 | €166,831 | €172,104 | +€5,272 | +3.2% |
| Stocks and contracts in progress | 3 | €131,375 | €138,006 | +€6,631 | +5.0% |
| Stocks | 30/36 | €131,375 | €138,006 | +€6,631 | +5.0% |
| Amounts receivable within one year | 40/41 | €3,659 | €7,909 | +€4,251 | +116% |
| Trade receivables | 40 | €3,529 | €7,779 | +€4,251 | +120% |
| Other amounts receivable | 41 | €130 | €130 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €31,797 | €26,189 | -€5,609 | -17.6% |
| Total equity and liabilities | 10/49 | €220,678 | €235,371 | +€14,694 | +6.7% |
| Equity | 10/15 | €112,063 | €128,297 | +€16,234 | +14.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €125,757 | €125,757 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €123,897 | €123,897 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,294 | -€16,060 | +€16,234 | +50.3% |
| Amounts payable | 17/49 | €108,614 | €107,074 | -€1,540 | -1.4% |
| Amounts payable after more than one year | 17 | €59,337 | €62,971 | +€3,635 | +6.1% |
| Financial debts | 170/4 | €59,337 | €62,971 | +€3,635 | +6.1% |
| Amounts payable within one year | 42/48 | €47,778 | €42,603 | -€5,174 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €2,832 | €12,981 | +€10,150 | +358% |
| Trade debts | 44 | €27,430 | €14,936 | -€12,494 | -45.5% |
| Suppliers | 440/4 | €27,430 | €14,936 | -€12,494 | -45.5% |
| Taxes, remuneration and social security | 45 | €10,268 | €9,177 | -€1,090 | -10.6% |
| Taxes | 450/3 | €10,268 | €9,177 | -€1,090 | -10.6% |
| Other amounts payable | 47/48 | €7,248 | €5,508 | -€1,740 | -24.0% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Non-recurring operating income | 76A | €33 | - | -€33 | |
| Remuneration, social security and pensions | 62 | - | €1,944 | +€1,944 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,103 | €28,984 | +€12,881 | +80.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,364 | €737 | -€1,627 | -68.8% |
| Other operating charges | 640/8 | €4,342 | €726 | -€3,616 | -83.3% |
| Gross operating margin | 9900 | €50,227 | €45,555 | -€4,672 | -9.3% |
| Operating profit (loss) | 9901 | €27,418 | €13,164 | -€14,254 | -52.0% |
| Financial income | 75/76B | - | €7,263 | +€7,263 | |
| Recurring financial income | 75 | - | €7,263 | +€7,263 | |
| Financial charges | 65/66B | -€3,354 | €4,194 | +€7,548 | |
| Recurring financial charges | 65 | €1,002 | €4,194 | +€3,192 | +319% |
| Non-recurring financial charges | 66B | -€4,356 | - | +€4,356 | |
| Profit (loss) for the period before taxes | 9903 | €30,772 | €16,233 | -€14,539 | -47.2% |
| Income taxes | 67/77 | €0 | -€0 | -€1 | |
| Profit (loss) for the period | 9904 | €30,772 | €16,234 | -€14,538 | -47.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,772 | €16,234 | -€14,538 | -47.2% |
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 31 October 2026 via checked.be.