CHEMINEES MARCHAL: what changed
CHEMINEES MARCHAL
Largest movements
- Tangible fixed assets -€53,549
down €53,549 (-28.7%), from €186,625 to €133,076
of which Furniture and vehicles: -€39,435
- Cash +€15,687
up €15,687 (+16.4%), from €95,456 to €111,143
mainly Depreciation (+€62,089) and Receivables within one year (+€13,737)
- Receivables within one year -€13,737
down €13,737 (-25.4%), from €54,115 to €40,378
of which Trade receivables: -€13,483
- Stocks and contracts -€8,248
down €8,248 (-32.3%), from €25,555 to €17,307
- Deferred charges and accrued income -€4,732
down €4,732 (-24.3%), from €19,503 to €14,771
- Debts after one year -€38,023
down €38,023 (-30.6%), from €124,259 to €86,236
- Trade debts -€30,222
down €30,222 (-89.7%), from €33,689 to €3,467
- Reserves +€4,522
up €4,522 (+2.6%), from €172,026 to €176,548
- Gross operating margin -€58,316
down €58,316 (-29.3%), from €199,234 to €140,918
- Purchases and services -€29,991
down €29,991 (-8.3%), from €360,425 to €330,434
- Staff costs -€23,019
down €23,019 (-26.5%), from €86,867 to €63,848
- Taxes -€12,527
down €12,527 (-91.9%), from €13,626 to €1,099
- Depreciation -€3,821
down €3,821 (-5.8%), from €65,909 to €62,089
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €381,254 | €316,674 | -€64,579 | -16.9% |
| Fixed assets | 21/28 | €186,625 | €133,076 | -€53,549 | -28.7% |
| Tangible fixed assets | 22/27 | €186,625 | €133,076 | -€53,549 | -28.7% |
| Plant, machinery and equipment | 23 | €10,538 | €7,072 | -€3,465 | -32.9% |
| Furniture and vehicles | 24 | €126,023 | €86,588 | -€39,435 | -31.3% |
| Leasing and similar rights | 25 | €50,064 | €39,415 | -€10,649 | -21.3% |
| Current assets | 29/58 | €194,629 | €183,599 | -€11,030 | -5.7% |
| Stocks and contracts in progress | 3 | €25,555 | €17,307 | -€8,248 | -32.3% |
| Stocks | 30/36 | €25,555 | €17,307 | -€8,248 | -32.3% |
| Amounts receivable within one year | 40/41 | €54,115 | €40,378 | -€13,737 | -25.4% |
| Trade receivables | 40 | €23,462 | €9,979 | -€13,483 | -57.5% |
| Other amounts receivable | 41 | €30,653 | €30,399 | -€254 | -0.8% |
| Cash at bank and in hand | 54/58 | €95,456 | €111,143 | +€15,687 | +16.4% |
| Deferred charges and accrued income | 490/1 | €19,503 | €14,771 | -€4,732 | -24.3% |
| Total equity and liabilities | 10/49 | €381,254 | €316,674 | -€64,579 | -16.9% |
| Equity | 10/15 | €184,426 | €188,948 | +€4,522 | +2.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €172,026 | €176,548 | +€4,522 | +2.6% |
| Distributable reserves | 133 | €172,026 | €176,548 | +€4,522 | +2.6% |
| Amounts payable | 17/49 | €196,828 | €127,726 | -€69,101 | -35.1% |
| Amounts payable after more than one year | 17 | €124,259 | €86,236 | -€38,023 | -30.6% |
| Financial debts | 170/4 | €124,259 | €86,236 | -€38,023 | -30.6% |
| Amounts payable within one year | 42/48 | €72,568 | €41,490 | -€31,078 | -42.8% |
| Current portion of amounts payable after more than one year | 42 | €38,879 | €38,023 | -€857 | -2.2% |
| Trade debts | 44 | €33,689 | €3,467 | -€30,222 | -89.7% |
| Suppliers | 440/4 | €33,689 | €3,467 | -€30,222 | -89.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €360,425 | €330,434 | -€29,991 | -8.3% |
| Remuneration, social security and pensions | 62 | €86,867 | €63,848 | -€23,019 | -26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,909 | €62,089 | -€3,821 | -5.8% |
| Other operating charges | 640/8 | €1,634 | €1,130 | -€505 | -30.9% |
| Non-recurring operating charges | 66A | - | €2,367 | +€2,367 | |
| Gross operating margin | 9900 | €199,234 | €140,918 | -€58,316 | -29.3% |
| Operating profit (loss) | 9901 | €44,823 | €11,484 | -€33,339 | -74.4% |
| Financial income | 75/76B | €78 | €101 | +€24 | +30.6% |
| Recurring financial income | 75 | €78 | €101 | +€24 | +30.6% |
| Financial charges | 65/66B | €5,849 | €5,965 | +€116 | +2.0% |
| Recurring financial charges | 65 | €5,849 | €5,965 | +€116 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €39,051 | €5,621 | -€33,431 | -85.6% |
| Income taxes | 67/77 | €13,626 | €1,099 | -€12,527 | -91.9% |
| Profit (loss) for the period | 9904 | €25,425 | €4,522 | -€20,904 | -82.2% |
| Profit (loss) for the period to be appropriated | 9905 | €25,425 | €4,522 | -€20,904 | -82.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.