THEMAKINE: 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.
THEMAKINE
Largest movements
- Cash +€12,898
up €12,898 (+38.6%), from €33,442 to €46,339
mainly Net result for the year (+€25,660) and Other debts (+€11,733)
- Receivables within one year +€11,100
up €11,100 (+271%), from €4,094 to €15,194
of which Trade receivables: +€10,042
- Current investments +€10,000
up €10,000 (+14.3%), from €70,050 to €80,050
- Tangible fixed assets -€6,867
down €6,867 (-25.2%), from €27,279 to €20,412
of which Furniture and vehicles: -€5,180
- Profit (loss) carried forward +€25,660
new in 2025: €25,660
- Other debts +€11,733
up €11,733 (+23.8%), from €49,259 to €60,993
- Current portion of long-term debt -€6,504
down €6,504 (-37.4%), from €17,369 to €10,865
- Tax, wage and social debts -€5,513
down €5,513 (-61.2%), from €9,009 to €3,496
of which Remuneration and social security: -€2,850
- Depreciation +€2,653
up €2,653 (+63.0%), from €4,214 to €6,867
- Taxes -€2,384
down €2,384 (-20.4%), from €11,710 to €9,326
- Financial income +€2,167
up €2,167 (+71,993%), from €3 to €2,170
- Financial charges +€1,271
up €1,271 (+56.1%), from €2,267 to €3,538
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 | €137,936 | €163,459 | +€25,523 | +18.5% |
| Fixed assets | 21/28 | €27,279 | €20,412 | -€6,867 | -25.2% |
| Tangible fixed assets | 22/27 | €27,279 | €20,412 | -€6,867 | -25.2% |
| Furniture and vehicles | 24 | €23,432 | €18,252 | -€5,180 | -22.1% |
| Other tangible fixed assets | 26 | €3,847 | €2,160 | -€1,687 | -43.9% |
| Current assets | 29/58 | €110,657 | €143,047 | +€32,390 | +29.3% |
| Amounts receivable within one year | 40/41 | €4,094 | €15,194 | +€11,100 | +271% |
| Trade receivables | 40 | - | €10,042 | +€10,042 | |
| Other amounts receivable | 41 | €4,094 | €5,152 | +€1,058 | +25.8% |
| Current investments | 50/53 | €70,050 | €80,050 | +€10,000 | +14.3% |
| Cash at bank and in hand | 54/58 | €33,442 | €46,339 | +€12,898 | +38.6% |
| Deferred charges and accrued income | 490/1 | €3,072 | €1,465 | -€1,607 | -52.3% |
| Total equity and liabilities | 10/49 | €137,936 | €163,459 | +€25,523 | +18.5% |
| Equity | 10/15 | €58,640 | €84,300 | +€25,660 | +43.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €40,040 | €40,040 | = | 0.0% |
| Distributable reserves | 133 | €40,040 | €40,040 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €25,660 | +€25,660 | |
| Amounts payable | 17/49 | €79,296 | €79,160 | -€137 | -0.2% |
| Amounts payable within one year | 42/48 | €77,612 | €76,324 | -€1,287 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €17,369 | €10,865 | -€6,504 | -37.4% |
| Trade debts | 44 | €1,974 | €971 | -€1,004 | -50.8% |
| Suppliers | 440/4 | €1,974 | €971 | -€1,004 | -50.8% |
| Taxes, remuneration and social security | 45 | €9,009 | €3,496 | -€5,513 | -61.2% |
| Taxes | 450/3 | €6,159 | €3,496 | -€2,663 | -43.2% |
| Remuneration and social security | 454/9 | €2,850 | - | -€2,850 | |
| Other amounts payable | 47/48 | €49,259 | €60,993 | +€11,733 | +23.8% |
| Accrued charges and deferred income | 492/3 | €1,685 | €2,835 | +€1,150 | +68.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,214 | €6,867 | +€2,653 | +63.0% |
| Gross operating margin | 9900 | €43,552 | €43,220 | -€332 | -0.8% |
| Operating profit (loss) | 9901 | €39,338 | €36,353 | -€2,985 | -7.6% |
| Financial income | 75/76B | €3 | €2,170 | +€2,167 | +71,993% |
| Recurring financial income | 75 | €3 | €2,170 | +€2,167 | +71,993% |
| Financial charges | 65/66B | €2,267 | €3,538 | +€1,271 | +56.1% |
| Recurring financial charges | 65 | €2,267 | €3,538 | +€1,271 | +56.1% |
| Profit (loss) for the period before taxes | 9903 | €37,074 | €34,986 | -€2,089 | -5.6% |
| Income taxes | 67/77 | €11,710 | €9,326 | -€2,384 | -20.4% |
| Profit (loss) for the period | 9904 | €25,364 | €25,660 | +€295 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €25,364 | €25,660 | +€295 | +1.2% |
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 16 October 2026 via checked.be.