DR. MARC FOL: 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.
DR. MARC FOL
Largest movements
- Current investments +€1.1m
up €1.1m (+153.5%), from €716,673 to €1.8m
- Cash -€271,732
down €271,732 (-47.4%), from €573,493 to €301,761
mainly Current investments (-€1.1m) and Contributions, distributions and other (-€134,545)
- Receivables within one year -€41,738
down €41,738 (-37.3%), from €111,871 to €70,134
- Reserves +€710,752
up €710,752 (+42.6%), from €1.7m to €2.4m
of which Non-distributable reserves: +€710,727
- Tax, wage and social debts +€112,822
new in 2024: €112,822
- Gross operating margin +€971,454
up €971,454 (+354.8%), from €273,832 to €1.2m
- Taxes +€313,521
up €313,521 (+411.4%), from €76,201 to €389,722
- Depreciation -€12,755
down €12,755 (-63.4%), from €20,116 to €7,361
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 | €1,690,190 | €2,508,778 | +€818,587 | +48.4% |
| Fixed assets | 21/28 | €92,136 | €105,051 | +€12,915 | +14.0% |
| Tangible fixed assets | 22/27 | €32,136 | €45,051 | +€12,915 | +40.2% |
| Plant, machinery and equipment | 23 | €30,488 | €44,390 | +€13,902 | +45.6% |
| Furniture and vehicles | 24 | €1,648 | €660 | -€987 | -59.9% |
| Financial fixed assets | 28 | €60,000 | €60,000 | = | 0.0% |
| Current assets | 29/58 | €1,598,055 | €2,403,727 | +€805,672 | +50.4% |
| Amounts receivable after more than one year | 29 | €190,680 | €190,680 | = | 0.0% |
| Other amounts receivable | 291 | €190,680 | €190,680 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €111,871 | €70,134 | -€41,738 | -37.3% |
| Other amounts receivable | 41 | €111,871 | €70,134 | -€41,738 | -37.3% |
| Current investments | 50/53 | €716,673 | €1,816,673 | +€1.1m | +153.5% |
| Cash at bank and in hand | 54/58 | €573,493 | €301,761 | -€271,732 | -47.4% |
| Deferred charges and accrued income | 490/1 | €5,337 | €24,479 | +€19,142 | +358.6% |
| Total equity and liabilities | 10/49 | €1,690,190 | €2,508,778 | +€818,587 | +48.4% |
| Equity | 10/15 | €1,685,185 | €2,395,937 | +€710,752 | +42.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,666,585 | €2,377,337 | +€710,752 | +42.6% |
| Non-distributable reserves | 130/1 | €1,093,090 | €1,803,817 | +€710,727 | +65.0% |
| Reserves not available under the articles | 1311 | €1,093,090 | €1,803,817 | +€710,727 | +65.0% |
| Tax-exempt reserves | 132 | €70,241 | €70,241 | = | 0.0% |
| Distributable reserves | 133 | €503,254 | €503,279 | +€25 | 0.0% |
| Amounts payable | 17/49 | €5,005 | €112,841 | +€107,835 | +2154.4% |
| Amounts payable within one year | 42/48 | €5,005 | €112,841 | +€107,835 | +2154.4% |
| Trade debts | 44 | €3,335 | €19 | -€3,316 | -99.4% |
| Suppliers | 440/4 | €3,335 | €19 | -€3,316 | -99.4% |
| Taxes, remuneration and social security | 45 | - | €112,822 | +€112,822 | |
| Taxes | 450/3 | - | €112,822 | +€112,822 | |
| Other amounts payable | 47/48 | €1,671 | - | -€1,671 | |
| Remuneration, social security and pensions | 62 | €1,144 | €405 | -€738 | -64.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,116 | €7,361 | -€12,755 | -63.4% |
| Other operating charges | 640/8 | €542 | €2,472 | +€1,930 | +355.7% |
| Gross operating margin | 9900 | €273,832 | €1,245,286 | +€971,454 | +354.8% |
| Operating profit (loss) | 9901 | €252,030 | €1,235,048 | +€983,018 | +390.0% |
| Financial income | 75/76B | €43 | €215 | +€172 | +398.3% |
| Recurring financial income | 75 | €43 | €215 | +€172 | +398.3% |
| Financial charges | 65/66B | €1,686 | €243 | -€1,442 | -85.6% |
| Recurring financial charges | 65 | €1,686 | €243 | -€1,442 | -85.6% |
| Profit (loss) for the period before taxes | 9903 | €250,387 | €1,235,019 | +€984,632 | +393.2% |
| Income taxes | 67/77 | €76,201 | €389,722 | +€313,521 | +411.4% |
| Profit (loss) for the period | 9904 | €174,187 | €845,297 | +€671,111 | +385.3% |
| Profit (loss) for the period to be appropriated | 9905 | €174,187 | €845,297 | +€671,111 | +385.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.