APOTHEEK MARECHAL: 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.
APOTHEEK MARECHAL
Largest movements
- Tangible fixed assets +€920,713
up €920,713 (+1,395%), from €65,982 to €986,695
of which Plant, machinery and equipment: +€920,018
- Cash -€96,453
down €96,453 (-29.0%), from €332,125 to €235,672
mainly Investment in fixed assets (net) (-€991,394) and Trade debts (-€82,453)
- Current investments -€67,648
down €67,648 (-22.4%), from €302,450 to €234,802
- Receivables within one year +€51,194
up €51,194 (+41.5%), from €123,493 to €174,687
of which Other amounts receivable: +€30,837
- Stocks and contracts +€34,040
up €34,040 (+20.8%), from €163,700 to €197,739
- Other debts +€586,960
up €586,960 (+2,431%), from €24,146 to €611,106
- Debts after one year +€269,706
new in 2025: €269,706
- Trade debts -€82,453
down €82,453 (-36.9%), from €223,696 to €141,244
- Current portion of long-term debt +€26,035
new in 2025: €26,035
- Accrued charges and deferred income +€19,139
up €19,139 (+1,914%), from €1,000 to €20,139
- Depreciation +€65,083
up €65,083 (+1,163%), from €5,597 to €70,680
- Gross operating margin -€40,616
down €40,616 (-8.2%), from €497,069 to €456,453
- Taxes -€39,138
down €39,138 (-90.6%), from €43,204 to €4,067
- Financial charges +€29,644
up €29,644 (+119%), from €24,925 to €54,569
- Staff costs -€24,169
down €24,169 (-7.6%), from €318,000 to €293,831
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 | €1,004,677 | €1,845,564 | +€840,886 | +83.7% |
| Fixed assets | 21/28 | €72,045 | €992,758 | +€920,713 | +1,278% |
| Tangible fixed assets | 22/27 | €65,982 | €986,695 | +€920,713 | +1,395% |
| Land and buildings | 22 | €1,885 | €1,397 | -€488 | -25.9% |
| Plant, machinery and equipment | 23 | €64,097 | €984,114 | +€920,018 | +1,435% |
| Furniture and vehicles | 24 | - | €1,183 | +€1,183 | |
| Financial fixed assets | 28 | €6,063 | €6,063 | = | 0.0% |
| Current assets | 29/58 | €932,633 | €852,806 | -€79,827 | -8.6% |
| Stocks and contracts in progress | 3 | €163,700 | €197,739 | +€34,040 | +20.8% |
| Stocks | 30/36 | €163,700 | €197,739 | +€34,040 | +20.8% |
| Amounts receivable within one year | 40/41 | €123,493 | €174,687 | +€51,194 | +41.5% |
| Trade receivables | 40 | €117,099 | €137,455 | +€20,357 | +17.4% |
| Other amounts receivable | 41 | €6,394 | €37,231 | +€30,837 | +482% |
| Current investments | 50/53 | €302,450 | €234,802 | -€67,648 | -22.4% |
| Cash at bank and in hand | 54/58 | €332,125 | €235,672 | -€96,453 | -29.0% |
| Deferred charges and accrued income | 490/1 | €10,865 | €9,906 | -€959 | -8.8% |
| Total equity and liabilities | 10/49 | €1,004,677 | €1,845,564 | +€840,886 | +83.7% |
| Equity | 10/15 | €702,606 | €721,507 | +€18,901 | +2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €588,662 | €607,562 | +€18,901 | +3.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €135 | €135 | = | 0.0% |
| Distributable reserves | 133 | €586,666 | €605,567 | +€18,901 | +3.2% |
| Profit (loss) carried forward | 14 | €95,345 | €95,345 | = | 0.0% |
| Amounts payable | 17/49 | €302,071 | €1,124,057 | +€821,986 | +272% |
| Amounts payable after more than one year | 17 | - | €269,706 | +€269,706 | |
| Financial debts | 170/4 | - | €269,706 | +€269,706 | |
| Amounts payable within one year | 42/48 | €301,071 | €834,211 | +€533,140 | +177% |
| Current portion of amounts payable after more than one year | 42 | - | €26,035 | +€26,035 | |
| Trade debts | 44 | €223,696 | €141,244 | -€82,453 | -36.9% |
| Suppliers | 440/4 | €223,696 | €141,244 | -€82,453 | -36.9% |
| Taxes, remuneration and social security | 45 | €53,229 | €55,827 | +€2,598 | +4.9% |
| Taxes | 450/3 | €22,032 | €21,762 | -€270 | -1.2% |
| Remuneration and social security | 454/9 | €31,197 | €34,065 | +€2,868 | +9.2% |
| Other amounts payable | 47/48 | €24,146 | €611,106 | +€586,960 | +2,431% |
| Accrued charges and deferred income | 492/3 | €1,000 | €20,139 | +€19,139 | +1,914% |
| Remuneration, social security and pensions | 62 | €318,000 | €293,831 | -€24,169 | -7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,597 | €70,680 | +€65,083 | +1,163% |
| Other operating charges | 640/8 | €1,455 | €830 | -€624 | -42.9% |
| Gross operating margin | 9900 | €497,069 | €456,453 | -€40,616 | -8.2% |
| Operating profit (loss) | 9901 | €172,018 | €91,112 | -€80,906 | -47.0% |
| Financial income | 75/76B | €4,070 | €6,554 | +€2,485 | +61.1% |
| Recurring financial income | 75 | €4,070 | €6,554 | +€2,485 | +61.1% |
| Financial charges | 65/66B | €24,925 | €54,569 | +€29,644 | +119% |
| Recurring financial charges | 65 | €24,925 | €54,569 | +€29,644 | +119% |
| Profit (loss) for the period before taxes | 9903 | €151,162 | €43,097 | -€108,065 | -71.5% |
| Income taxes | 67/77 | €43,204 | €4,067 | -€39,138 | -90.6% |
| Profit (loss) for the period | 9904 | €107,958 | €39,030 | -€68,928 | -63.8% |
| Profit (loss) for the period to be appropriated | 9905 | €107,958 | €39,030 | -€68,928 | -63.8% |
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 13 October 2026 via checked.be.