MACE: 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.
MACE
Largest movements
- Cash -€169,332
down €169,332 (-75.5%), from €224,149 to €54,817
mainly Accrued charges and deferred income (-€167,528) and Receivables within one year (-€104,245)
- Receivables within one year +€104,245
up €104,245 (+590%), from €17,656 to €121,901
of which Other amounts receivable: +€119,854
- Tangible fixed assets -€96,935
no longer reported in 2026 (was €96,935)
of which Land and buildings: -€67,816
- Accrued charges and deferred income -€167,528
no longer reported in 2026 (was €167,528)
- Trade debts +€6,632
up €6,632 (+20,578%), from €32 to €6,665
- Tax, wage and social debts -€6,142
no longer reported in 2026 (was €6,142)
- Gross operating margin -€63,462
down €63,462 (-91.6%), from €69,309 to €5,846
- Depreciation -€43,323
no longer reported in 2026 (was €43,323)
- Financial charges -€15,517
down €15,517 (-99.5%), from €15,599 to €83
- Taxes -€2,146
down €2,146 (-61.1%), from €3,509 to €1,364
- Other operating charges +€743
up €743 (+62.0%), from €1,197 to €1,940
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €342,116 | €176,718 | -€165,397 | -48.3% |
| Fixed assets | 21/28 | €96,935 | - | -€96,935 | |
| Tangible fixed assets | 22/27 | €96,935 | - | -€96,935 | |
| Land and buildings | 22 | €67,816 | - | -€67,816 | |
| Plant, machinery and equipment | 23 | €2,800 | - | -€2,800 | |
| Furniture and vehicles | 24 | €26,320 | - | -€26,320 | |
| Current assets | 29/58 | €245,180 | €176,718 | -€68,462 | -27.9% |
| Amounts receivable within one year | 40/41 | €17,656 | €121,901 | +€104,245 | +590% |
| Trade receivables | 40 | €15,609 | - | -€15,609 | |
| Other amounts receivable | 41 | €2,047 | €121,901 | +€119,854 | +5,854% |
| Cash at bank and in hand | 54/58 | €224,149 | €54,817 | -€169,332 | -75.5% |
| Deferred charges and accrued income | 490/1 | €3,375 | - | -€3,375 | |
| Total equity and liabilities | 10/49 | €342,116 | €176,718 | -€165,397 | -48.3% |
| Equity | 10/15 | €166,909 | €170,054 | +€3,145 | +1.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €148,317 | €151,462 | +€3,145 | +2.1% |
| Distributable reserves | 133 | €148,317 | €151,462 | +€3,145 | +2.1% |
| Amounts payable | 17/49 | €175,207 | €6,665 | -€168,543 | -96.2% |
| Amounts payable within one year | 42/48 | €7,679 | €6,665 | -€1,014 | -13.2% |
| Financial debts | 43 | €1,505 | - | -€1,505 | |
| Credit institutions | 430/8 | €1,505 | - | -€1,505 | |
| Trade debts | 44 | €32 | €6,665 | +€6,632 | +20,578% |
| Suppliers | 440/4 | €32 | €6,665 | +€6,632 | +20,578% |
| Taxes, remuneration and social security | 45 | €6,142 | - | -€6,142 | |
| Taxes | 450/3 | €6,142 | - | -€6,142 | |
| Accrued charges and deferred income | 492/3 | €167,528 | - | -€167,528 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,323 | - | -€43,323 | |
| Other operating charges | 640/8 | €1,197 | €1,940 | +€743 | +62.0% |
| Gross operating margin | 9900 | €69,309 | €5,846 | -€63,462 | -91.6% |
| Operating profit (loss) | 9901 | €24,788 | €3,906 | -€20,882 | -84.2% |
| Financial income | 75/76B | €1,029 | €686 | -€344 | -33.4% |
| Recurring financial income | 75 | €1,029 | €686 | -€344 | -33.4% |
| Financial charges | 65/66B | €15,599 | €83 | -€15,517 | -99.5% |
| Recurring financial charges | 65 | €15,599 | €83 | -€15,517 | -99.5% |
| Profit (loss) for the period before taxes | 9903 | €10,217 | €4,509 | -€5,709 | -55.9% |
| Income taxes | 67/77 | €3,509 | €1,364 | -€2,146 | -61.1% |
| Profit (loss) for the period | 9904 | €6,708 | €3,145 | -€3,563 | -53.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,708 | €3,145 | -€3,563 | -53.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2025 and 30 September 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.