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
- Cash +€25,362
up €25,362 (+9.9%), from €257,383 to €282,746
mainly Net result for the year (+€43,917) and Trade debts (+€31,762)
- Receivables within one year +€5,836
up €5,836 (+1781.0%), from €328 to €6,164
- Stocks and contracts +€4,856
up €4,856 (+168.9%), from €2,875 to €7,731
- Reserves +€33,917
up €33,917 (+33.1%), from €102,485 to €136,402
of which Distributable reserves: +€33,917
- Trade debts +€31,762
up €31,762 (+367.1%), from €8,652 to €40,414
- Tax, wage and social debts -€21,613
down €21,613 (-28.7%), from €75,432 to €53,818
of which Taxes: -€29,850
- Other debts -€7,642
down €7,642 (-35.3%), from €21,654 to €14,013
- Taxes -€31,888
down €31,888 (-65.4%), from €48,773 to €16,885
- Gross operating margin -€13,749
down €13,749 (-6.6%), from €207,264 to €193,515
- Turnover -€11,314
down €11,314 (-2.4%), from €467,469 to €456,155
- Purchases and services +€10,753
up €10,753 (+4.1%), from €260,208 to €270,962
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 | €285,338 | €320,751 | +€35,413 | +12.4% |
| Fixed assets | 21/28 | €24,752 | €22,484 | -€2,268 | -9.2% |
| Tangible fixed assets | 22/27 | €23,382 | €21,114 | -€2,268 | -9.7% |
| Land and buildings | 22 | €16,590 | €11,830 | -€4,760 | -28.7% |
| Plant, machinery and equipment | 23 | €1,684 | €1,263 | -€421 | -25.0% |
| Furniture and vehicles | 24 | €5,108 | €8,021 | +€2,913 | +57.0% |
| Financial fixed assets | 28 | €1,370 | €1,370 | = | 0.0% |
| Current assets | 29/58 | €260,586 | €298,267 | +€37,681 | +14.5% |
| Stocks and contracts in progress | 3 | €2,875 | €7,731 | +€4,856 | +168.9% |
| Stocks | 30/36 | €2,875 | €7,731 | +€4,856 | +168.9% |
| Amounts receivable within one year | 40/41 | €328 | €6,164 | +€5,836 | +1781.0% |
| Other amounts receivable | 41 | €328 | €6,164 | +€5,836 | +1781.0% |
| Cash at bank and in hand | 54/58 | €257,383 | €282,746 | +€25,362 | +9.9% |
| Deferred charges and accrued income | 490/1 | - | €1,626 | +€1,626 | |
| Total equity and liabilities | 10/49 | €285,338 | €320,751 | +€35,413 | +12.4% |
| Equity | 10/15 | €164,302 | €198,219 | +€33,917 | +20.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €102,485 | €136,402 | +€33,917 | +33.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €100,625 | €134,542 | +€33,917 | +33.7% |
| Profit (loss) carried forward | 14 | €55,617 | €55,617 | = | 0.0% |
| Amounts payable | 17/49 | €121,036 | €122,532 | +€1,496 | +1.2% |
| Amounts payable within one year | 42/48 | €105,738 | €108,245 | +€2,507 | +2.4% |
| Trade debts | 44 | €8,652 | €40,414 | +€31,762 | +367.1% |
| Suppliers | 440/4 | €8,652 | €40,414 | +€31,762 | +367.1% |
| Taxes, remuneration and social security | 45 | €75,432 | €53,818 | -€21,613 | -28.7% |
| Taxes | 450/3 | €52,707 | €22,857 | -€29,850 | -56.6% |
| Remuneration and social security | 454/9 | €22,725 | €30,961 | +€8,237 | +36.2% |
| Other amounts payable | 47/48 | €21,654 | €14,013 | -€7,642 | -35.3% |
| Accrued charges and deferred income | 492/3 | €15,298 | €14,287 | -€1,011 | -6.6% |
| Turnover | 70 | €467,469 | €456,155 | -€11,314 | -2.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €260,208 | €270,962 | +€10,753 | +4.1% |
| Remuneration, social security and pensions | 62 | €105,413 | €109,239 | +€3,826 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,672 | €7,906 | +€234 | +3.0% |
| Other operating charges | 640/8 | €4,316 | €6,186 | +€1,870 | +43.3% |
| Gross operating margin | 9900 | €207,264 | €193,515 | -€13,749 | -6.6% |
| Operating profit (loss) | 9901 | €89,863 | €70,184 | -€19,678 | -21.9% |
| Financial income | 75/76B | €3 | €43 | +€40 | +1330.2% |
| Recurring financial income | 75 | €3 | €43 | +€40 | +1330.2% |
| Financial charges | 65/66B | €5,923 | €9,426 | +€3,502 | +59.1% |
| Recurring financial charges | 65 | €5,923 | €9,426 | +€3,502 | +59.1% |
| Profit (loss) for the period before taxes | 9903 | €83,943 | €60,802 | -€23,141 | -27.6% |
| Income taxes | 67/77 | €48,773 | €16,885 | -€31,888 | -65.4% |
| Profit (loss) for the period | 9904 | €35,170 | €43,917 | +€8,747 | +24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,170 | €43,917 | +€8,747 | +24.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.