S.M. MACKA: 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.
S.M. MACKA
Largest movements
- Tangible fixed assets -€23,374
down €23,374 (-11.7%), from €200,116 to €176,743
- Receivables within one year +€17,014
up €17,014 (+49.8%), from €34,197 to €51,210
of which Other amounts receivable: +€20,040
- Cash +€6,938
up €6,938 (+21.8%), from €31,761 to €38,699
mainly Depreciation (+€26,874) and Tax, wage and social debts (+€2,668)
- Debts after one year -€4,642
down €4,642 (-40.9%), from €11,358 to €6,716
- Tax, wage and social debts +€2,668
up €2,668 (+71.6%), from €3,729 to €6,398
- Depreciation -€5,385
down €5,385 (-16.7%), from €32,259 to €26,874
- Gross operating margin -€4,563
down €4,563 (-9.9%), from €46,076 to €41,513
- Other operating charges +€1,522
up €1,522 (+20.0%), from €7,594 to €9,116
- Taxes +€1,089
up €1,089 (+41.4%), from €2,629 to €3,718
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 | €266,074 | €266,652 | +€577 | +0.2% |
| Fixed assets | 21/28 | €200,116 | €176,743 | -€23,374 | -11.7% |
| Tangible fixed assets | 22/27 | €200,116 | €176,743 | -€23,374 | -11.7% |
| Land and buildings | 22 | €166,436 | €155,077 | -€11,359 | -6.8% |
| Plant, machinery and equipment | 23 | €2,657 | €4,134 | +€1,477 | +55.6% |
| Furniture and vehicles | 24 | €16,849 | €8,424 | -€8,424 | -50.0% |
| Leasing and similar rights | 25 | €14,175 | €9,107 | -€5,067 | -35.7% |
| Current assets | 29/58 | €65,958 | €89,909 | +€23,951 | +36.3% |
| Amounts receivable within one year | 40/41 | €34,197 | €51,210 | +€17,014 | +49.8% |
| Trade receivables | 40 | €3,026 | €0 | -€3,026 | -100% |
| Other amounts receivable | 41 | €31,170 | €51,210 | +€20,040 | +64.3% |
| Cash at bank and in hand | 54/58 | €31,761 | €38,699 | +€6,938 | +21.8% |
| Total equity and liabilities | 10/49 | €266,074 | €266,652 | +€577 | +0.2% |
| Equity | 10/15 | €246,232 | €246,812 | +€581 | +0.2% |
| Contributions | 10/11 | €19,008 | €19,008 | = | 0.0% |
| Revaluation surpluses | 12 | €80,432 | €80,432 | = | 0.0% |
| Reserves | 13 | €146,791 | €147,372 | +€581 | +0.4% |
| Distributable reserves | 133 | €146,791 | €147,372 | +€581 | +0.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €19,843 | €19,839 | -€3 | 0.0% |
| Amounts payable after more than one year | 17 | €11,358 | €6,716 | -€4,642 | -40.9% |
| Financial debts | 170/4 | €11,358 | €6,716 | -€4,642 | -40.9% |
| Amounts payable within one year | 42/48 | €8,484 | €13,123 | +€4,639 | +54.7% |
| Current portion of amounts payable after more than one year | 42 | €4,477 | €4,642 | +€165 | +3.7% |
| Trade debts | 44 | €278 | €2,083 | +€1,805 | +649% |
| Suppliers | 440/4 | €278 | €2,083 | +€1,805 | +649% |
| Taxes, remuneration and social security | 45 | €3,729 | €6,398 | +€2,668 | +71.6% |
| Taxes | 450/3 | €3,729 | €6,398 | +€2,668 | +71.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,259 | €26,874 | -€5,385 | -16.7% |
| Other operating charges | 640/8 | €7,594 | €9,116 | +€1,522 | +20.0% |
| Gross operating margin | 9900 | €46,076 | €41,513 | -€4,563 | -9.9% |
| Operating profit (loss) | 9901 | €6,223 | €5,523 | -€701 | -11.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1,604 | €1,224 | -€380 | -23.7% |
| Recurring financial charges | 65 | €1,604 | €1,224 | -€380 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €4,619 | €4,299 | -€321 | -6.9% |
| Income taxes | 67/77 | €2,629 | €3,718 | +€1,089 | +41.4% |
| Profit (loss) for the period | 9904 | €1,990 | €581 | -€1,410 | -70.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,990 | €581 | -€1,410 | -70.8% |
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 13 October 2026 via checked.be.