A.S. MARCHAND: 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.
A.S. MARCHAND
Largest movements
- Tangible fixed assets -€17,585
down €17,585 (-39.5%), from €44,512 to €26,927
of which Furniture and vehicles: -€14,148
- Receivables within one year -€2,726
down €2,726 (-5.9%), from €45,903 to €43,177
- Cash +€1,260
up €1,260 (+9.5%), from €13,191 to €14,451
mainly Depreciation (+€19,986) and Provisions (+€16,075)
- Profit (loss) carried forward -€21,567
down €21,567 (-296%), from -€7,279 to -€28,846
- Provisions +€16,075
up €16,075 (+33.5%), from €48,025 to €64,100
- Debts after one year -€11,197
down €11,197 (-66.3%), from €16,899 to €5,702
- Other debts -€3,870
down €3,870 (-16.1%), from €24,093 to €20,223
- Tax, wage and social debts +€2,218
up €2,218 (+1,325%), from €167 to €2,385
- Provisions +€28,175
up €28,175, from -€12,100 to €16,075
- Gross operating margin +€6,361
up €6,361 (+9.6%), from €66,068 to €72,429
- Financial charges -€6,358
down €6,358 (-10.4%), from €60,969 to €54,611
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 | €119,732 | €100,409 | -€19,323 | -16.1% |
| Fixed assets | 21/28 | €59,573 | €41,988 | -€17,585 | -29.5% |
| Tangible fixed assets | 22/27 | €44,512 | €26,927 | -€17,585 | -39.5% |
| Plant, machinery and equipment | 23 | €6,308 | €2,872 | -€3,436 | -54.5% |
| Furniture and vehicles | 24 | €38,204 | €24,056 | -€14,148 | -37.0% |
| Financial fixed assets | 28 | €15,061 | €15,061 | = | 0.0% |
| Current assets | 29/58 | €60,159 | €58,421 | -€1,738 | -2.9% |
| Amounts receivable within one year | 40/41 | €45,903 | €43,177 | -€2,726 | -5.9% |
| Other amounts receivable | 41 | €45,903 | €43,177 | -€2,726 | -5.9% |
| Cash at bank and in hand | 54/58 | €13,191 | €14,451 | +€1,260 | +9.5% |
| Deferred charges and accrued income | 490/1 | €1,065 | €793 | -€272 | -25.5% |
| Total equity and liabilities | 10/49 | €119,732 | €100,409 | -€19,323 | -16.1% |
| Equity | 10/15 | €17,981 | -€3,586 | -€21,567 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €12,860 | €12,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,000 | €11,000 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,279 | -€28,846 | -€21,567 | -296% |
| Provisions and deferred taxes | 16 | €48,025 | €64,100 | +€16,075 | +33.5% |
| Provisions for liabilities and charges | 160/5 | €48,025 | €64,100 | +€16,075 | +33.5% |
| Other liabilities and charges | 164/5 | €48,025 | €64,100 | +€16,075 | +33.5% |
| Amounts payable | 17/49 | €53,726 | €39,895 | -€13,831 | -25.7% |
| Amounts payable after more than one year | 17 | €16,899 | €5,702 | -€11,197 | -66.3% |
| Financial debts | 170/4 | €16,899 | €5,702 | -€11,197 | -66.3% |
| Amounts payable within one year | 42/48 | €36,827 | €34,193 | -€2,634 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €10,926 | €11,197 | +€271 | +2.5% |
| Trade debts | 44 | €1,640 | €388 | -€1,252 | -76.3% |
| Suppliers | 440/4 | €1,640 | €388 | -€1,252 | -76.3% |
| Taxes, remuneration and social security | 45 | €167 | €2,385 | +€2,218 | +1,325% |
| Taxes | 450/3 | €167 | €2,385 | +€2,218 | +1,325% |
| Other amounts payable | 47/48 | €24,093 | €20,223 | -€3,870 | -16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,657 | €19,986 | +€329 | +1.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€12,100 | €16,075 | +€28,175 | |
| Other operating charges | 640/8 | €3,788 | €3,177 | -€611 | -16.1% |
| Gross operating margin | 9900 | €66,068 | €72,429 | +€6,361 | +9.6% |
| Operating profit (loss) | 9901 | €54,723 | €33,191 | -€21,532 | -39.3% |
| Financial income | 75/76B | €0 | €6 | +€6 | +57,000% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +57,000% |
| Financial charges | 65/66B | €60,969 | €54,611 | -€6,358 | -10.4% |
| Recurring financial charges | 65 | €60,969 | €54,611 | -€6,358 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,247 | -€21,414 | -€15,168 | -243% |
| Income taxes | 67/77 | €167 | €153 | -€15 | -8.8% |
| Profit (loss) for the period | 9904 | -€6,414 | -€21,567 | -€15,153 | -236% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,414 | -€21,567 | -€15,153 | -236% |
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 31 October 2026 via checked.be.