CORE MARKETING: 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.
CORE MARKETING
Largest movements
- Cash +€59,784
up €59,784 (+151%), from €39,580 to €99,364
mainly Current investments (+€40,000) and Net result for the year (+€35,039)
- Current investments -€40,000
no longer reported in 2025 (was €40,000)
- Receivables within one year +€27,502
up €27,502 (+140%), from €19,613 to €47,115
- Tangible fixed assets +€3,706
up €3,706 (+24.1%), from €15,400 to €19,106
of which Land and buildings: +€7,031
- Reserves +€35,039
up €35,039 (+52.2%), from €67,062 to €102,100
- Trade debts +€21,196
up €21,196 (+445%), from €4,766 to €25,962
- Tax, wage and social debts -€9,236
down €9,236 (-26.9%), from €34,384 to €25,148
of which Taxes: -€9,751
- Other debts +€5,196
up €5,196 (+134%), from €3,873 to €9,069
- Gross operating margin +€1,540
up €1,540 (+3.3%), from €46,972 to €48,512
- Financial income +€1,379
new in 2025: €1,379
- Taxes +€707
up €707 (+7.7%), from €9,166 to €9,873
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 | €114,646 | €165,585 | +€50,939 | +44.4% |
| Fixed assets | 21/28 | €15,400 | €19,106 | +€3,706 | +24.1% |
| Tangible fixed assets | 22/27 | €15,400 | €19,106 | +€3,706 | +24.1% |
| Land and buildings | 22 | - | €7,031 | +€7,031 | |
| Plant, machinery and equipment | 23 | €11,666 | €9,856 | -€1,810 | -15.5% |
| Furniture and vehicles | 24 | €3,734 | €2,219 | -€1,515 | -40.6% |
| Current assets | 29/58 | €99,246 | €146,479 | +€47,233 | +47.6% |
| Amounts receivable within one year | 40/41 | €19,613 | €47,115 | +€27,502 | +140% |
| Trade receivables | 40 | €19,613 | €47,115 | +€27,502 | +140% |
| Current investments | 50/53 | €40,000 | - | -€40,000 | |
| Cash at bank and in hand | 54/58 | €39,580 | €99,364 | +€59,784 | +151% |
| Deferred charges and accrued income | 490/1 | €53 | - | -€53 | |
| Total equity and liabilities | 10/49 | €114,646 | €165,585 | +€50,939 | +44.4% |
| Equity | 10/15 | €70,062 | €105,100 | +€35,039 | +50.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €67,062 | €102,100 | +€35,039 | +52.2% |
| Distributable reserves | 133 | €67,062 | €102,100 | +€35,039 | +52.2% |
| Amounts payable | 17/49 | €44,585 | €60,485 | +€15,900 | +35.7% |
| Amounts payable within one year | 42/48 | €44,585 | €60,179 | +€15,594 | +35.0% |
| Trade debts | 44 | €4,766 | €25,962 | +€21,196 | +445% |
| Suppliers | 440/4 | €4,766 | €25,962 | +€21,196 | +445% |
| Advances received on contracts in progress | 46 | €1,561 | - | -€1,561 | |
| Taxes, remuneration and social security | 45 | €34,384 | €25,148 | -€9,236 | -26.9% |
| Taxes | 450/3 | €31,222 | €21,472 | -€9,751 | -31.2% |
| Remuneration and social security | 454/9 | €3,162 | €3,676 | +€514 | +16.3% |
| Other amounts payable | 47/48 | €3,873 | €9,069 | +€5,196 | +134% |
| Accrued charges and deferred income | 492/3 | - | €306 | +€306 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,018 | €4,322 | +€304 | +7.6% |
| Other operating charges | 640/8 | €315 | €274 | -€42 | -13.2% |
| Gross operating margin | 9900 | €46,972 | €48,512 | +€1,540 | +3.3% |
| Operating profit (loss) | 9901 | €42,639 | €43,917 | +€1,277 | +3.0% |
| Financial income | 75/76B | - | €1,379 | +€1,379 | |
| Recurring financial income | 75 | - | €1,379 | +€1,379 | |
| Financial charges | 65/66B | €303 | €384 | +€81 | +26.6% |
| Recurring financial charges | 65 | €303 | €384 | +€81 | +26.6% |
| Profit (loss) for the period before taxes | 9903 | €42,336 | €44,911 | +€2,575 | +6.1% |
| Income taxes | 67/77 | €9,166 | €9,873 | +€707 | +7.7% |
| Profit (loss) for the period | 9904 | €33,170 | €35,039 | +€1,868 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,170 | €35,039 | +€1,868 | +5.6% |
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 20 October 2026 via checked.be.