MACAO NP: 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.
MACAO NP
Largest movements
- Financial fixed assets +€350,084
new in 2025: €350,084
- Receivables after one year +€90,000
new in 2025: €90,000
- Cash -€76,642
down €76,642 (-83.8%), from €91,447 to €14,805
mainly Investment in fixed assets (net) (-€350,409) and Receivables after one year (-€90,000)
- Receivables within one year +€6,070
up €6,070 (+14.1%), from €43,196 to €49,266
of which Trade receivables: +€4,119
- Debts after one year +€260,097
new in 2025: €260,097
- Current portion of long-term debt +€51,443
new in 2025: €51,443
- Other debts +€37,374
up €37,374 (+159%), from €23,513 to €60,887
- Trade debts +€15,600
up €15,600 (+468%), from €3,335 to €18,935
- Tax, wage and social debts +€5,843
up €5,843 (+49.1%), from €11,905 to €17,747
- Gross operating margin +€18,045
up €18,045 (+19.4%), from €93,201 to €111,247
- Financial charges +€3,095
up €3,095 (+225%), from €1,373 to €4,468
- Taxes +€2,597
up €2,597 (+10.0%), from €25,877 to €28,475
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 | €136,977 | €505,180 | +€368,203 | +269% |
| Fixed assets | 21/28 | €1,440 | €350,777 | +€349,337 | +24,259% |
| Tangible fixed assets | 22/27 | €1,440 | €693 | -€747 | -51.9% |
| Furniture and vehicles | 24 | €1,440 | €693 | -€747 | -51.9% |
| Financial fixed assets | 28 | - | €350,084 | +€350,084 | |
| Current assets | 29/58 | €135,537 | €154,404 | +€18,866 | +13.9% |
| Amounts receivable after more than one year | 29 | - | €90,000 | +€90,000 | |
| Other amounts receivable | 291 | - | €90,000 | +€90,000 | |
| Amounts receivable within one year | 40/41 | €43,196 | €49,266 | +€6,070 | +14.1% |
| Trade receivables | 40 | €43,136 | €47,255 | +€4,119 | +9.5% |
| Other amounts receivable | 41 | €60 | €2,011 | +€1,951 | +3,250% |
| Cash at bank and in hand | 54/58 | €91,447 | €14,805 | -€76,642 | -83.8% |
| Deferred charges and accrued income | 490/1 | €894 | €333 | -€562 | -62.8% |
| Total equity and liabilities | 10/49 | €136,977 | €505,180 | +€368,203 | +269% |
| Equity | 10/15 | €98,224 | €96,071 | -€2,153 | -2.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €93,224 | €91,071 | -€2,153 | -2.3% |
| Distributable reserves | 133 | €93,224 | €91,071 | -€2,153 | -2.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €38,753 | €409,110 | +€370,357 | +956% |
| Amounts payable after more than one year | 17 | - | €260,097 | +€260,097 | |
| Financial debts | 170/4 | - | €260,097 | +€260,097 | |
| Amounts payable within one year | 42/48 | €38,753 | €149,012 | +€110,259 | +285% |
| Current portion of amounts payable after more than one year | 42 | - | €51,443 | +€51,443 | |
| Trade debts | 44 | €3,335 | €18,935 | +€15,600 | +468% |
| Suppliers | 440/4 | €3,335 | €18,935 | +€15,600 | +468% |
| Taxes, remuneration and social security | 45 | €11,905 | €17,747 | +€5,843 | +49.1% |
| Taxes | 450/3 | €11,905 | €17,747 | +€5,843 | +49.1% |
| Other amounts payable | 47/48 | €23,513 | €60,887 | +€37,374 | +159% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,744 | €1,072 | -€671 | -38.5% |
| Other operating charges | 640/8 | €1,812 | €1,396 | -€416 | -23.0% |
| Non-recurring operating charges | 66A | - | €658 | +€658 | |
| Gross operating margin | 9900 | €93,201 | €111,247 | +€18,045 | +19.4% |
| Operating profit (loss) | 9901 | €89,646 | €108,121 | +€18,475 | +20.6% |
| Financial income | 75/76B | - | €296 | +€296 | |
| Recurring financial income | 75 | - | €296 | +€296 | |
| Financial charges | 65/66B | €1,373 | €4,468 | +€3,095 | +225% |
| Recurring financial charges | 65 | €1,373 | €4,468 | +€3,095 | +225% |
| Profit (loss) for the period before taxes | 9903 | €88,273 | €103,948 | +€15,676 | +17.8% |
| Income taxes | 67/77 | €25,877 | €28,475 | +€2,597 | +10.0% |
| Profit (loss) for the period | 9904 | €62,395 | €75,473 | +€13,078 | +21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €62,395 | €75,473 | +€13,078 | +21.0% |
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 24 October 2026 via checked.be.