MAC & CIE: 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.
MAC & CIE
Largest movements
- Tangible fixed assets -€71,542
down €71,542 (-18.2%), from €392,381 to €320,839
of which Other tangible fixed assets: -€43,075
- Tax, wage and social debts -€162,071
down €162,071 (-64.4%), from €251,494 to €89,423
of which Remuneration and social security: -€127,716
- Profit (loss) carried forward +€125,763
up €125,763 (+51.8%), from -€242,785 to -€117,022
- Debts after one year -€98,839
down €98,839 (-35.8%), from €276,002 to €177,163
- Current portion of long-term debt +€49,800
new in 2025: €49,800
- Other debts +€25,720
up €25,720 (+21.2%), from €121,268 to €146,988
- Gross operating margin +€156,730
up €156,730 (+27.6%), from €568,473 to €725,203
- Staff costs -€99,983
down €99,983 (-16.6%), from €604,003 to €504,019
- Depreciation +€7,777
up €7,777 (+10.6%), from €73,572 to €81,349
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 | €463,250 | €388,684 | -€74,566 | -16.1% |
| Fixed assets | 21/28 | €398,127 | €325,029 | -€73,097 | -18.4% |
| Intangible fixed assets | 21 | €5,746 | €4,191 | -€1,555 | -27.1% |
| Tangible fixed assets | 22/27 | €392,381 | €320,839 | -€71,542 | -18.2% |
| Plant, machinery and equipment | 23 | €105,713 | €89,402 | -€16,311 | -15.4% |
| Furniture and vehicles | 24 | €45,498 | €33,342 | -€12,156 | -26.7% |
| Other tangible fixed assets | 26 | €241,170 | €198,095 | -€43,075 | -17.9% |
| Current assets | 29/58 | €65,123 | €63,654 | -€1,469 | -2.3% |
| Stocks and contracts in progress | 3 | €9,043 | €7,229 | -€1,814 | -20.1% |
| Stocks | 30/36 | €9,043 | €7,229 | -€1,814 | -20.1% |
| Amounts receivable within one year | 40/41 | €47,635 | €48,216 | +€581 | +1.2% |
| Trade receivables | 40 | €44,895 | €45,569 | +€674 | +1.5% |
| Other amounts receivable | 41 | €2,740 | €2,647 | -€94 | -3.4% |
| Cash at bank and in hand | 54/58 | €8,445 | €8,210 | -€236 | -2.8% |
| Total equity and liabilities | 10/49 | €463,250 | €388,684 | -€74,566 | -16.1% |
| Equity | 10/15 | -€232,785 | -€107,022 | +€125,763 | +54.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€242,785 | -€117,022 | +€125,763 | +51.8% |
| Amounts payable | 17/49 | €696,035 | €495,706 | -€200,329 | -28.8% |
| Amounts payable after more than one year | 17 | €276,002 | €177,163 | -€98,839 | -35.8% |
| Financial debts | 170/4 | €276,002 | €177,163 | -€98,839 | -35.8% |
| Amounts payable within one year | 42/48 | €420,033 | €318,543 | -€101,490 | -24.2% |
| Current portion of amounts payable after more than one year | 42 | - | €49,800 | +€49,800 | |
| Trade debts | 44 | €47,271 | €32,332 | -€14,939 | -31.6% |
| Suppliers | 440/4 | €47,271 | €32,332 | -€14,939 | -31.6% |
| Taxes, remuneration and social security | 45 | €251,494 | €89,423 | -€162,071 | -64.4% |
| Taxes | 450/3 | €60,838 | €26,483 | -€34,355 | -56.5% |
| Remuneration and social security | 454/9 | €190,656 | €62,940 | -€127,716 | -67.0% |
| Other amounts payable | 47/48 | €121,268 | €146,988 | +€25,720 | +21.2% |
| Remuneration, social security and pensions | 62 | €604,003 | €504,019 | -€99,983 | -16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,572 | €81,349 | +€7,777 | +10.6% |
| Other operating charges | 640/8 | €4,390 | €907 | -€3,483 | -79.3% |
| Gross operating margin | 9900 | €568,473 | €725,203 | +€156,730 | +27.6% |
| Operating profit (loss) | 9901 | -€113,492 | €138,927 | +€252,419 | |
| Financial income | 75/76B | €118 | €778 | +€660 | +558% |
| Recurring financial income | 75 | €118 | €778 | +€660 | +558% |
| Financial charges | 65/66B | €18,654 | €13,942 | -€4,711 | -25.3% |
| Recurring financial charges | 65 | €18,654 | €13,942 | -€4,711 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | -€132,028 | €125,763 | +€257,791 | |
| Profit (loss) for the period | 9904 | -€132,028 | €125,763 | +€257,791 | |
| Profit (loss) for the period to be appropriated | 9905 | -€132,028 | €125,763 | +€257,791 |
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 25 October 2026 via checked.be.