B. MARESCAUX: 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.
B. MARESCAUX
Largest movements
- Cash +€7,582
up €7,582 (+95.8%), from €7,911 to €15,493
mainly Trade debts (+€5,507) and Other debts (+€4,463)
- Tangible fixed assets -€2,628
down €2,628 (-43.6%), from €6,029 to €3,401
of which Furniture and vehicles: -€2,321
- Stocks and contracts -€1,861
down €1,861 (-10.9%), from €17,095 to €15,234
- Receivables within one year -€547
down €547 (-7.2%), from €7,546 to €6,999
of which Trade receivables: -€895
- Short-term financial debts -€5,947
down €5,947 (-65.3%), from €9,106 to €3,159
of which Other loans: -€9,106
- Trade debts +€5,507
up €5,507 (+88.9%), from €6,193 to €11,700
- Other debts +€4,463
up €4,463 (+18.9%), from €23,661 to €28,124
- Profit (loss) carried forward -€1,388
down €1,388 (-8.3%), from -€16,807 to -€18,195
- Gross operating margin -€5,274
down €5,274 (-57.5%), from €9,172 to €3,898
- Write-downs -€1,934
down €1,934, from €1,899 to -€35
- Other operating charges +€323
up €323 (+48.0%), from €673 to €996
- Financial income +€261
up €261 (+26,100%), from €1 to €262
- Financial charges -€236
down €236 (-14.3%), from €1,654 to €1,418
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 | €39,265 | €41,863 | +€2,598 | +6.6% |
| Fixed assets | 21/28 | €6,029 | €3,401 | -€2,628 | -43.6% |
| Tangible fixed assets | 22/27 | €6,029 | €3,401 | -€2,628 | -43.6% |
| Plant, machinery and equipment | 23 | €307 | - | -€307 | |
| Furniture and vehicles | 24 | €5,722 | €3,401 | -€2,321 | -40.6% |
| Current assets | 29/58 | €33,236 | €38,462 | +€5,226 | +15.7% |
| Stocks and contracts in progress | 3 | €17,095 | €15,234 | -€1,861 | -10.9% |
| Stocks | 30/36 | €17,095 | €15,234 | -€1,861 | -10.9% |
| Amounts receivable within one year | 40/41 | €7,546 | €6,999 | -€547 | -7.2% |
| Trade receivables | 40 | €7,282 | €6,387 | -€895 | -12.3% |
| Other amounts receivable | 41 | €264 | €612 | +€348 | +132% |
| Cash at bank and in hand | 54/58 | €7,911 | €15,493 | +€7,582 | +95.8% |
| Deferred charges and accrued income | 490/1 | €684 | €736 | +€52 | +7.6% |
| Total equity and liabilities | 10/49 | €39,265 | €41,863 | +€2,598 | +6.6% |
| Equity | 10/15 | -€350 | -€1,738 | -€1,388 | -397% |
| Contributions | 10/11 | €14,626 | €14,626 | = | 0.0% |
| Reserves | 13 | €1,831 | €1,831 | = | 0.0% |
| Distributable reserves | 133 | €1,831 | €1,831 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,807 | -€18,195 | -€1,388 | -8.3% |
| Amounts payable | 17/49 | €39,615 | €43,601 | +€3,986 | +10.1% |
| Amounts payable within one year | 42/48 | €39,615 | €43,601 | +€3,986 | +10.1% |
| Financial debts | 43 | €9,106 | €3,159 | -€5,947 | -65.3% |
| Credit institutions | 430/8 | - | €3,159 | +€3,159 | |
| Other loans | 439 | €9,106 | - | -€9,106 | |
| Trade debts | 44 | €6,193 | €11,700 | +€5,507 | +88.9% |
| Suppliers | 440/4 | €6,193 | €11,700 | +€5,507 | +88.9% |
| Taxes, remuneration and social security | 45 | €655 | €618 | -€37 | -5.6% |
| Taxes | 450/3 | €655 | €618 | -€37 | -5.6% |
| Other amounts payable | 47/48 | €23,661 | €28,124 | +€4,463 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,737 | €2,628 | -€109 | -4.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,899 | -€35 | -€1,934 | |
| Other operating charges | 640/8 | €673 | €996 | +€323 | +48.0% |
| Gross operating margin | 9900 | €9,172 | €3,898 | -€5,274 | -57.5% |
| Operating profit (loss) | 9901 | €3,863 | €309 | -€3,554 | -92.0% |
| Financial income | 75/76B | €1 | €262 | +€261 | +26,100% |
| Recurring financial income | 75 | €1 | €262 | +€261 | +26,100% |
| Financial charges | 65/66B | €1,654 | €1,418 | -€236 | -14.3% |
| Recurring financial charges | 65 | €1,654 | €1,418 | -€236 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €2,210 | -€847 | -€3,057 | |
| Income taxes | 67/77 | €657 | €541 | -€116 | -17.7% |
| Profit (loss) for the period | 9904 | €1,553 | -€1,388 | -€2,941 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,553 | -€1,388 | -€2,941 |
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.