ALAIN MARIEN: 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.
ALAIN MARIEN
Largest movements
- Tangible fixed assets -€32,033
down €32,033 (-6.0%), from €533,614 to €501,581
of which Leasing and similar rights: -€59,302
- Receivables within one year -€20,708
down €20,708 (-37.0%), from €55,993 to €35,285
- Cash +€13,361
up €13,361 (+2,891%), from €462 to €13,823
mainly Depreciation (+€45,014) and Receivables within one year (+€20,708)
- Debts after one year -€35,526
down €35,526 (-9.0%), from €395,814 to €360,288
of which Financial debts: -€35,526
- Profit (loss) carried forward +€15,402
up €15,402 (+11.8%), from €130,715 to €146,117
- Trade debts -€8,155
down €8,155 (-55.5%), from €14,704 to €6,549
- Short-term financial debts -€7,617
no longer reported in 2025 (was €7,617)
- Turnover -€7,635
down €7,635 (-2.8%), from €270,823 to €263,189
- Staff costs +€3,049
up €3,049 (+8.8%), from €34,802 to €37,852
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 | €613,452 | €575,606 | -€37,846 | -6.2% |
| Fixed assets | 21/28 | €535,269 | €503,236 | -€32,033 | -6.0% |
| Tangible fixed assets | 22/27 | €533,614 | €501,581 | -€32,033 | -6.0% |
| Land and buildings | 22 | €369,926 | €373,251 | +€3,325 | +0.9% |
| Plant, machinery and equipment | 23 | €69,898 | €62,633 | -€7,265 | -10.4% |
| Furniture and vehicles | 24 | €34,489 | €65,698 | +€31,209 | +90.5% |
| Leasing and similar rights | 25 | €59,302 | - | -€59,302 | |
| Financial fixed assets | 28 | €1,655 | €1,655 | = | 0.0% |
| Current assets | 29/58 | €78,182 | €72,369 | -€5,813 | -7.4% |
| Stocks and contracts in progress | 3 | €3,380 | €5,688 | +€2,308 | +68.3% |
| Stocks | 30/36 | €3,380 | €5,688 | +€2,308 | +68.3% |
| Amounts receivable within one year | 40/41 | €55,993 | €35,285 | -€20,708 | -37.0% |
| Trade receivables | 40 | €55,993 | €35,285 | -€20,708 | -37.0% |
| Cash at bank and in hand | 54/58 | €462 | €13,823 | +€13,361 | +2,891% |
| Deferred charges and accrued income | 490/1 | €18,346 | €17,573 | -€774 | -4.2% |
| Total equity and liabilities | 10/49 | €613,452 | €575,606 | -€37,846 | -6.2% |
| Equity | 10/15 | €151,175 | €166,577 | +€15,402 | +10.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €130,715 | €146,117 | +€15,402 | +11.8% |
| Amounts payable | 17/49 | €462,276 | €409,029 | -€53,248 | -11.5% |
| Amounts payable after more than one year | 17 | €395,814 | €360,288 | -€35,526 | -9.0% |
| Financial debts | 170/4 | €64,014 | €28,488 | -€35,526 | -55.5% |
| Other amounts payable | 178/9 | €331,800 | €331,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €66,463 | €48,741 | -€17,722 | -26.7% |
| Current portion of amounts payable after more than one year | 42 | €34,170 | €35,526 | +€1,356 | +4.0% |
| Financial debts | 43 | €7,617 | - | -€7,617 | |
| Credit institutions | 430/8 | €7,617 | - | -€7,617 | |
| Trade debts | 44 | €14,704 | €6,549 | -€8,155 | -55.5% |
| Suppliers | 440/4 | €14,704 | €6,549 | -€8,155 | -55.5% |
| Taxes, remuneration and social security | 45 | €9,233 | €6,595 | -€2,638 | -28.6% |
| Taxes | 450/3 | €6,883 | €4,857 | -€2,026 | -29.4% |
| Remuneration and social security | 454/9 | €2,350 | €1,737 | -€613 | -26.1% |
| Other amounts payable | 47/48 | €739 | €71 | -€668 | -90.3% |
| Turnover | 70 | €270,823 | €263,189 | -€7,635 | -2.8% |
| Non-recurring operating income | 76A | - | €7,200 | +€7,200 | |
| Goods, raw materials, services and sundry goods | 60/61 | €158,425 | €157,818 | -€607 | -0.4% |
| Remuneration, social security and pensions | 62 | €34,802 | €37,852 | +€3,049 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,202 | €45,014 | -€188 | -0.4% |
| Other operating charges | 640/8 | €12,667 | €12,822 | +€155 | +1.2% |
| Gross operating margin | 9900 | €112,398 | €112,570 | +€172 | +0.2% |
| Operating profit (loss) | 9901 | €19,726 | €16,882 | -€2,845 | -14.4% |
| Financial income | 75/76B | €4,200 | €4,200 | = | 0.0% |
| Recurring financial income | 75 | €4,200 | €4,200 | = | 0.0% |
| Non-recurring financial income | 76B | €4,200 | €4,200 | = | 0.0% |
| Financial charges | 65/66B | €7,281 | €5,680 | -€1,601 | -22.0% |
| Recurring financial charges | 65 | €7,281 | €5,680 | -€1,601 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | €16,646 | €15,402 | -€1,244 | -7.5% |
| Profit (loss) for the period | 9904 | €16,646 | €15,402 | -€1,244 | -7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,646 | €15,402 | -€1,244 | -7.5% |
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.