Makt: 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.
Makt
Largest movements
- Receivables within one year -€2,145
down €2,145 (-54.1%), from €3,968 to €1,822
of which Trade receivables: -€2,405
- Deferred charges and accrued income -€1,260
down €1,260 (-24.7%), from €5,099 to €3,839
- Tangible fixed assets +€426
up €426 (+3.8%), from €11,208 to €11,634
- Formation expenses -€359
down €359 (-31.1%), from €1,154 to €795
- Cash -€322
down €322 (-33.4%), from €964 to €642
mainly Net result for the year (-€5,037) and Investment in fixed assets (net) (-€3,392)
- Profit (loss) carried forward -€5,037
down €5,037 (-14591.3%), from -€35 to -€5,071
- Debts after one year +€3,064
up €3,064 (+201.4%), from €1,521 to €4,586
- Current portion of long-term debt -€2,855
down €2,855 (-48.3%), from €5,916 to €3,061
- Other debts +€2,438
up €2,438 (+28.5%), from €8,545 to €10,983
- Trade debts -€870
down €870 (-29.1%), from €2,985 to €2,115
- Gross operating margin -€12,458
down €12,458 (-86.2%), from €14,446 to €1,988
- Write-downs -€949
down €949, from €475 to -€475
- Financial charges -€663
down €663 (-16.5%), from €4,009 to €3,346
- Other operating charges -€271
down €271 (-27.0%), from €1,001 to €731
- Depreciation -€203
down €203 (-5.3%), from €3,791 to €3,589
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 | €23,281 | €19,357 | -€3,924 | -16.9% |
| Formation expenses | 20 | €1,154 | €795 | -€359 | -31.1% |
| Fixed assets | 21/28 | €12,097 | €12,259 | +€162 | +1.3% |
| Intangible fixed assets | 21 | €889 | €625 | -€264 | -29.7% |
| Tangible fixed assets | 22/27 | €11,208 | €11,634 | +€426 | +3.8% |
| Plant, machinery and equipment | 23 | €11,208 | €11,634 | +€426 | +3.8% |
| Current assets | 29/58 | €10,030 | €6,303 | -€3,727 | -37.2% |
| Amounts receivable within one year | 40/41 | €3,968 | €1,822 | -€2,145 | -54.1% |
| Trade receivables | 40 | €3,968 | €1,562 | -€2,405 | -60.6% |
| Other amounts receivable | 41 | - | €260 | +€260 | |
| Cash at bank and in hand | 54/58 | €964 | €642 | -€322 | -33.4% |
| Deferred charges and accrued income | 490/1 | €5,099 | €3,839 | -€1,260 | -24.7% |
| Total equity and liabilities | 10/49 | €23,281 | €19,357 | -€3,924 | -16.9% |
| Equity | 10/15 | €2,965 | -€2,071 | -€5,037 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35 | -€5,071 | -€5,037 | -14591.3% |
| Amounts payable | 17/49 | €20,316 | €21,429 | +€1,113 | +5.5% |
| Amounts payable after more than one year | 17 | €1,521 | €4,586 | +€3,064 | +201.4% |
| Financial debts | 170/4 | €1,521 | €4,586 | +€3,064 | +201.4% |
| Amounts payable within one year | 42/48 | €18,333 | €16,686 | -€1,647 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €5,916 | €3,061 | -€2,855 | -48.3% |
| Trade debts | 44 | €2,985 | €2,115 | -€870 | -29.1% |
| Suppliers | 440/4 | €2,985 | €2,115 | -€870 | -29.1% |
| Taxes, remuneration and social security | 45 | €886 | €527 | -€360 | -40.6% |
| Taxes | 450/3 | €886 | €527 | -€360 | -40.6% |
| Other amounts payable | 47/48 | €8,545 | €10,983 | +€2,438 | +28.5% |
| Accrued charges and deferred income | 492/3 | €462 | €157 | -€305 | -66.0% |
| Non-recurring operating income | 76A | €613 | €1,114 | +€502 | +81.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,791 | €3,589 | -€203 | -5.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €475 | -€475 | -€949 | |
| Other operating charges | 640/8 | €1,001 | €731 | -€271 | -27.0% |
| Non-recurring operating charges | 66A | €179 | €0 | -€179 | -100.0% |
| Gross operating margin | 9900 | €14,446 | €1,988 | -€12,458 | -86.2% |
| Operating profit (loss) | 9901 | €9,000 | -€1,857 | -€10,857 | |
| Financial income | 75/76B | €130 | €166 | +€36 | +27.5% |
| Recurring financial income | 75 | €130 | €166 | +€36 | +27.5% |
| Financial charges | 65/66B | €4,009 | €3,346 | -€663 | -16.5% |
| Recurring financial charges | 65 | €4,009 | €3,346 | -€663 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €5,122 | -€5,037 | -€10,159 | |
| Income taxes | 67/77 | €88 | €0 | -€88 | -100.0% |
| Profit (loss) for the period | 9904 | €5,034 | -€5,037 | -€10,071 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,034 | -€5,037 | -€10,071 |
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 28 September 2026 via checked.be.