CARINE MARECHAL: what changed
Two fiscal 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.
CARINE MARECHAL
Largest movements
- Tangible fixed assets -€12,036
down €12,036 (-43.4%), from €27,711 to €15,674
of which Furniture and vehicles: -€8,862
- Cash -€2,727
down €2,727 (-39.5%), from €6,897 to €4,170
mainly Accrued charges and deferred income (-€7,368) and Debts after one year (-€3,342)
- Deferred charges and accrued income +€2,045
up €2,045 (+138.1%), from €1,482 to €3,527
- Receivables within one year +€1,147
new in 2025: €1,147
- Accrued charges and deferred income -€7,368
no longer reported in 2025 (was €7,368)
- Debts after one year -€3,342
no longer reported in 2025 (was €3,342)
- Tax, wage and social debts -€2,853
down €2,853 (-51.6%), from €5,526 to €2,673
of which Taxes: -€2,974
- Trade debts +€888
up €888 (+41.2%), from €2,152 to €3,040
- Profit (loss) carried forward +€801
up €801 (+9.4%), from €8,517 to €9,317
- Gross operating margin +€2,038
up €2,038 (+13.6%), from €14,941 to €16,979
- Taxes -€1,108
down €1,108 (-24.8%), from €4,461 to €3,353
- Other operating charges -€255
down €255 (-32.3%), from €789 to €534
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.
Cash bridge derived
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 | €36,090 | €24,518 | -€11,571 | -32.1% |
| Fixed assets | 21/28 | €27,711 | €15,674 | -€12,036 | -43.4% |
| Tangible fixed assets | 22/27 | €27,711 | €15,674 | -€12,036 | -43.4% |
| Land and buildings | 22 | €14,484 | €11,383 | -€3,100 | -21.4% |
| Plant, machinery and equipment | 23 | €1,043 | €969 | -€75 | -7.1% |
| Furniture and vehicles | 24 | €12,184 | €3,323 | -€8,862 | -72.7% |
| Current assets | 29/58 | €8,379 | €8,844 | +€465 | +5.6% |
| Amounts receivable within one year | 40/41 | - | €1,147 | +€1,147 | |
| Other amounts receivable | 41 | - | €1,147 | +€1,147 | |
| Cash at bank and in hand | 54/58 | €6,897 | €4,170 | -€2,727 | -39.5% |
| Deferred charges and accrued income | 490/1 | €1,482 | €3,527 | +€2,045 | +138.1% |
| Total equity and liabilities | 10/49 | €36,090 | €24,518 | -€11,571 | -32.1% |
| Equity | 10/15 | €14,664 | €15,464 | +€801 | +5.5% |
| Contributions | 10/11 | €6,147 | €6,147 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,517 | €9,317 | +€801 | +9.4% |
| Amounts payable | 17/49 | €21,426 | €9,054 | -€12,372 | -57.7% |
| Amounts payable after more than one year | 17 | €3,342 | - | -€3,342 | |
| Financial debts | 170/4 | €3,342 | - | -€3,342 | |
| Amounts payable within one year | 42/48 | €10,717 | €9,054 | -€1,663 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €3,039 | €3,342 | +€303 | +10.0% |
| Trade debts | 44 | €2,152 | €3,040 | +€888 | +41.2% |
| Suppliers | 440/4 | €2,152 | €3,040 | +€888 | +41.2% |
| Taxes, remuneration and social security | 45 | €5,526 | €2,673 | -€2,853 | -51.6% |
| Taxes | 450/3 | €5,526 | €2,551 | -€2,974 | -53.8% |
| Remuneration and social security | 454/9 | - | €122 | +€122 | |
| Accrued charges and deferred income | 492/3 | €7,368 | - | -€7,368 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,033 | €12,029 | -€4 | 0.0% |
| Other operating charges | 640/8 | €789 | €534 | -€255 | -32.3% |
| Gross operating margin | 9900 | €14,941 | €16,979 | +€2,038 | +13.6% |
| Operating profit (loss) | 9901 | €2,120 | €4,416 | +€2,296 | +108.3% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €313 | €273 | -€40 | -12.9% |
| Recurring financial charges | 65 | €313 | €273 | -€40 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | €1,807 | €4,154 | +€2,347 | +129.9% |
| Income taxes | 67/77 | €4,461 | €3,353 | -€1,108 | -24.8% |
| Profit (loss) for the period | 9904 | -€2,655 | €801 | +€3,456 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,655 | €801 | +€3,456 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.