Céderic Maréchal: 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.
Céderic Maréchal
Largest movements
- Cash +€31,172
up €31,172 (+66.3%), from €47,000 to €78,172
mainly Net result for the year (+€45,234) and Depreciation (+€8,792)
- Tangible fixed assets +€10,877
up €10,877 (+36.5%), from €29,797 to €40,674
of which Land and buildings: +€17,346
- Receivables within one year +€5,316
up €5,316 (+12.8%), from €41,474 to €46,790
of which Trade receivables: +€5,304
- Reserves +€45,234
up €45,234 (+74.3%), from €60,912 to €106,146
- Current portion of long-term debt -€5,959
no longer reported in 2024 (was €5,959)
- Other debts +€5,816
up €5,816 (+16.4%), from €35,375 to €41,190
- Trade debts +€4,952
up €4,952 (+146.0%), from €3,393 to €8,344
- Tax, wage and social debts -€2,483
down €2,483 (-24.7%), from €10,054 to €7,571
of which Remuneration and social security: -€2,980
- Gross operating margin -€18,029
down €18,029 (-19.7%), from €91,362 to €73,333
- Depreciation -€3,023
down €3,023 (-25.6%), from €11,815 to €8,792
- Financial charges +€2,896
up €2,896 (+914.8%), from €317 to €3,212
- Other operating charges -€1,628
down €1,628 (-65.1%), from €2,499 to €872
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €120,693 | €168,252 | +€47,559 | +39.4% |
| Fixed assets | 21/28 | €30,647 | €41,423 | +€10,777 | +35.2% |
| Intangible fixed assets | 21 | €850 | €750 | -€100 | -11.8% |
| Tangible fixed assets | 22/27 | €29,797 | €40,674 | +€10,877 | +36.5% |
| Land and buildings | 22 | €14,443 | €31,789 | +€17,346 | +120.1% |
| Plant, machinery and equipment | 23 | €3,212 | €2,592 | -€620 | -19.3% |
| Furniture and vehicles | 24 | €8,212 | €2,759 | -€5,453 | -66.4% |
| Other tangible fixed assets | 26 | €3,930 | €3,535 | -€396 | -10.1% |
| Current assets | 29/58 | €90,046 | €126,829 | +€36,782 | +40.8% |
| Amounts receivable within one year | 40/41 | €41,474 | €46,790 | +€5,316 | +12.8% |
| Trade receivables | 40 | €41,474 | €46,778 | +€5,304 | +12.8% |
| Other amounts receivable | 41 | - | €12 | +€12 | |
| Cash at bank and in hand | 54/58 | €47,000 | €78,172 | +€31,172 | +66.3% |
| Deferred charges and accrued income | 490/1 | €1,573 | €1,866 | +€294 | +18.7% |
| Total equity and liabilities | 10/49 | €120,693 | €168,252 | +€47,559 | +39.4% |
| Equity | 10/15 | €65,912 | €111,146 | +€45,234 | +68.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €60,912 | €106,146 | +€45,234 | +74.3% |
| Distributable reserves | 133 | €60,912 | €106,146 | +€45,234 | +74.3% |
| Amounts payable | 17/49 | €54,781 | €57,106 | +€2,325 | +4.2% |
| Amounts payable within one year | 42/48 | €54,781 | €57,106 | +€2,325 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €5,959 | - | -€5,959 | |
| Trade debts | 44 | €3,393 | €8,344 | +€4,952 | +146.0% |
| Suppliers | 440/4 | €3,393 | €8,344 | +€4,952 | +146.0% |
| Taxes, remuneration and social security | 45 | €10,054 | €7,571 | -€2,483 | -24.7% |
| Taxes | 450/3 | €7,074 | €7,571 | +€497 | +7.0% |
| Remuneration and social security | 454/9 | €2,980 | - | -€2,980 | |
| Other amounts payable | 47/48 | €35,375 | €41,190 | +€5,816 | +16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,815 | €8,792 | -€3,023 | -25.6% |
| Other operating charges | 640/8 | €2,499 | €872 | -€1,628 | -65.1% |
| Gross operating margin | 9900 | €91,362 | €73,333 | -€18,029 | -19.7% |
| Operating profit (loss) | 9901 | €77,048 | €63,669 | -€13,379 | -17.4% |
| Financial income | 75/76B | €1 | €0 | -€1 | -96.6% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -96.6% |
| Financial charges | 65/66B | €317 | €3,212 | +€2,896 | +914.8% |
| Recurring financial charges | 65 | €317 | €3,212 | +€2,896 | +914.8% |
| Profit (loss) for the period before taxes | 9903 | €76,732 | €60,457 | -€16,276 | -21.2% |
| Income taxes | 67/77 | €15,820 | €15,223 | -€597 | -3.8% |
| Profit (loss) for the period | 9904 | €60,912 | €45,234 | -€15,679 | -25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €60,912 | €45,234 | -€15,679 | -25.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.