The Mack: 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.
The Mack
Largest movements
- Receivables within one year +€11,319
up €11,319 (+49.5%), from €22,858 to €34,177
of which Trade receivables: +€11,319
- Tangible fixed assets -€3,978
down €3,978 (-39.4%), from €10,097 to €6,120
- Cash -€3,697
down €3,697 (-32.1%), from €11,512 to €7,815
mainly Net result for the year (-€12,694) and Receivables within one year (-€11,319)
- Deferred charges and accrued income +€1,225
new in 2025: €1,225
- Trade debts +€17,147
up €17,147 (+66.1%), from €25,926 to €43,073
- Profit (loss) carried forward -€12,694
down €12,694 (-41.2%), from -€30,838 to -€43,532
- Tax, wage and social debts +€4,272
up €4,272 (+46.9%), from €9,110 to €13,382
of which Remuneration and social security: +€3,111
- Advances received -€2,496
down €2,496 (-10.9%), from €22,798 to €20,302
- Other debts -€1,544
down €1,544 (-8.4%), from €18,405 to €16,862
- Gross operating margin -€12,410
down €12,410, from €6,834 to -€5,576
- Depreciation -€1,212
down €1,212 (-23.3%), from €5,189 to €3,978
- Other operating charges +€562
up €562 (+22.3%), from €2,519 to €3,081
- Financial income -€352
down €352 (-97.9%), from €360 to €8
- Financial charges -€180
down €180 (-73.2%), from €246 to €66
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 | €55,401 | €60,086 | +€4,686 | +8.5% |
| Fixed assets | 21/28 | €10,097 | €6,120 | -€3,978 | -39.4% |
| Tangible fixed assets | 22/27 | €10,097 | €6,120 | -€3,978 | -39.4% |
| Plant, machinery and equipment | 23 | €10,097 | €6,120 | -€3,978 | -39.4% |
| Current assets | 29/58 | €45,303 | €53,967 | +€8,663 | +19.1% |
| Stocks and contracts in progress | 3 | €10,933 | €10,750 | -€183 | -1.7% |
| Stocks | 30/36 | €10,933 | €10,750 | -€183 | -1.7% |
| Amounts receivable within one year | 40/41 | €22,858 | €34,177 | +€11,319 | +49.5% |
| Trade receivables | 40 | €22,858 | €34,177 | +€11,319 | +49.5% |
| Other amounts receivable | 41 | €0 | - | -€0 | |
| Cash at bank and in hand | 54/58 | €11,512 | €7,815 | -€3,697 | -32.1% |
| Deferred charges and accrued income | 490/1 | - | €1,225 | +€1,225 | |
| Total equity and liabilities | 10/49 | €55,401 | €60,086 | +€4,686 | +8.5% |
| Equity | 10/15 | -€20,838 | -€33,532 | -€12,694 | -60.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Outside capital | 11 | €10,000 | €10,000 | = | 0.0% |
| Other | 1109/19 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,838 | -€43,532 | -€12,694 | -41.2% |
| Amounts payable | 17/49 | €76,239 | €93,618 | +€17,379 | +22.8% |
| Amounts payable within one year | 42/48 | €76,239 | €93,618 | +€17,379 | +22.8% |
| Trade debts | 44 | €25,926 | €43,073 | +€17,147 | +66.1% |
| Suppliers | 440/4 | €25,926 | €43,073 | +€17,147 | +66.1% |
| Advances received on contracts in progress | 46 | €22,798 | €20,302 | -€2,496 | -10.9% |
| Taxes, remuneration and social security | 45 | €9,110 | €13,382 | +€4,272 | +46.9% |
| Taxes | 450/3 | €3,096 | €4,257 | +€1,161 | +37.5% |
| Remuneration and social security | 454/9 | €6,013 | €9,124 | +€3,111 | +51.7% |
| Other amounts payable | 47/48 | €18,405 | €16,862 | -€1,544 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,189 | €3,978 | -€1,212 | -23.3% |
| Other operating charges | 640/8 | €2,519 | €3,081 | +€562 | +22.3% |
| Gross operating margin | 9900 | €6,834 | -€5,576 | -€12,410 | |
| Operating profit (loss) | 9901 | -€875 | -€12,635 | -€11,761 | -1344.8% |
| Financial income | 75/76B | €360 | €8 | -€352 | -97.9% |
| Recurring financial income | 75 | €360 | €8 | -€352 | -97.9% |
| Financial charges | 65/66B | €246 | €66 | -€180 | -73.2% |
| Recurring financial charges | 65 | €246 | €66 | -€180 | -73.2% |
| Profit (loss) for the period before taxes | 9903 | -€761 | -€12,694 | -€11,933 | -1568.1% |
| Profit (loss) for the period | 9904 | -€761 | -€12,694 | -€11,933 | -1568.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€761 | -€12,694 | -€11,933 | -1568.1% |
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 4 October 2026 via checked.be.