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.
MACLOT
Largest movements
- Cash +€67,706
up €67,706 (+88.0%), from €76,927 to €144,633
mainly Net result for the year (+€113,824) and Receivables within one year (+€51,465)
- Receivables within one year -€51,465
down €51,465 (-73.4%), from €70,075 to €18,611
of which Other amounts receivable: -€69,212
- Stocks and contracts -€17,357
down €17,357 (-12.9%), from €134,872 to €117,515
- Short-term financial debts -€200,000
down €200,000 (-80.0%), from €250,000 to €50,000
- Reserves +€126,000
up €126,000 (+1278.0%), from €9,859 to €135,859
of which Distributable reserves: +€126,000
- Tax, wage and social debts +€41,251
up €41,251 (+1140.8%), from €3,616 to €44,868
- Other debts +€39,372
new in 2025: €39,372
- Profit (loss) carried forward -€12,176
down €12,176 (-97.8%), from €12,453 to €277
- Gross operating margin +€133,792
up €133,792 (+288.6%), from €46,366 to €180,158
- Taxes +€37,516
up €37,516 (+1126.4%), from €3,331 to €40,847
- Depreciation +€3,580
up €3,580 (+36.2%), from €9,891 to €13,471
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 | €328,856 | €328,828 | -€27 | 0.0% |
| Fixed assets | 21/28 | €46,776 | €47,862 | +€1,086 | +2.3% |
| Tangible fixed assets | 22/27 | €46,776 | €47,862 | +€1,086 | +2.3% |
| Plant, machinery and equipment | 23 | €17,494 | €19,787 | +€2,293 | +13.1% |
| Furniture and vehicles | 24 | €29,282 | €28,075 | -€1,207 | -4.1% |
| Current assets | 29/58 | €282,080 | €280,966 | -€1,114 | -0.4% |
| Stocks and contracts in progress | 3 | €134,872 | €117,515 | -€17,357 | -12.9% |
| Stocks | 30/36 | €134,872 | €117,515 | -€17,357 | -12.9% |
| Amounts receivable within one year | 40/41 | €70,075 | €18,611 | -€51,465 | -73.4% |
| Trade receivables | 40 | - | €17,747 | +€17,747 | |
| Other amounts receivable | 41 | €70,075 | €863 | -€69,212 | -98.8% |
| Cash at bank and in hand | 54/58 | €76,927 | €144,633 | +€67,706 | +88.0% |
| Deferred charges and accrued income | 490/1 | €206 | €207 | +€2 | +0.8% |
| Total equity and liabilities | 10/49 | €328,856 | €328,828 | -€27 | 0.0% |
| Equity | 10/15 | €40,904 | €154,728 | +€113,824 | +278.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €9,859 | €135,859 | +€126,000 | +1278.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €8,000 | €134,000 | +€126,000 | +1575.0% |
| Profit (loss) carried forward | 14 | €12,453 | €277 | -€12,176 | -97.8% |
| Amounts payable | 17/49 | €287,952 | €174,100 | -€113,851 | -39.5% |
| Amounts payable after more than one year | 17 | €10,313 | €5,363 | -€4,950 | -48.0% |
| Financial debts | 170/4 | €10,313 | €5,363 | -€4,950 | -48.0% |
| Amounts payable within one year | 42/48 | €277,639 | €168,738 | -€108,901 | -39.2% |
| Current portion of amounts payable after more than one year | 42 | €4,950 | €4,950 | = | 0.0% |
| Financial debts | 43 | €250,000 | €50,000 | -€200,000 | -80.0% |
| Credit institutions | 430/8 | €250,000 | €50,000 | -€200,000 | -80.0% |
| Trade debts | 44 | €19,073 | €29,548 | +€10,475 | +54.9% |
| Suppliers | 440/4 | €19,073 | €29,548 | +€10,475 | +54.9% |
| Taxes, remuneration and social security | 45 | €3,616 | €44,868 | +€41,251 | +1140.8% |
| Taxes | 450/3 | €3,616 | €44,868 | +€41,251 | +1140.8% |
| Other amounts payable | 47/48 | - | €39,372 | +€39,372 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,891 | €13,471 | +€3,580 | +36.2% |
| Other operating charges | 640/8 | €1,623 | €1,168 | -€455 | -28.0% |
| Gross operating margin | 9900 | €46,366 | €180,158 | +€133,792 | +288.6% |
| Operating profit (loss) | 9901 | €34,852 | €165,519 | +€130,667 | +374.9% |
| Financial income | 75/76B | €100 | €173 | +€73 | +72.5% |
| Recurring financial income | 75 | €100 | €173 | +€73 | +72.5% |
| Financial charges | 65/66B | €11,362 | €11,021 | -€341 | -3.0% |
| Recurring financial charges | 65 | €11,362 | €11,021 | -€341 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €23,591 | €154,671 | +€131,081 | +555.7% |
| Income taxes | 67/77 | €3,331 | €40,847 | +€37,516 | +1126.4% |
| Profit (loss) for the period | 9904 | €20,260 | €113,824 | +€93,564 | +461.8% |
| Profit (loss) for the period to be appropriated | 9905 | €20,260 | €113,824 | +€93,564 | +461.8% |
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 28 September 2026 via checked.be.