Dr. P MARCQ: 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. P MARCQ
Largest movements
- Current investments +€207,889
up €207,889 (+14.8%), from €1.4m to €1.6m
- Cash +€52,381
up €52,381 (+89.4%), from €58,607 to €110,988
mainly Other debts (+€308,068) and Net result for the year (+€252,249)
- Receivables within one year -€24,727
down €24,727 (-45.8%), from €54,042 to €29,315
- Other debts +€308,068
up €308,068 (+2,233%), from €13,799 to €321,867
- Reserves -€85,409
down €85,409 (-5.3%), from €1.6m to €1.5m
of which Distributable reserves: -€85,409
- Financial income +€66,577
up €66,577 (+595%), from €11,193 to €77,770
- Gross operating margin +€32,992
up €32,992 (+13.0%), from €253,287 to €286,279
- Taxes +€16,179
up €16,179 (+20.8%), from €77,836 to €94,016
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 | €1,649,334 | €1,871,088 | +€221,754 | +13.4% |
| Fixed assets | 21/28 | €122,927 | €109,138 | -€13,789 | -11.2% |
| Tangible fixed assets | 22/27 | €122,927 | €109,138 | -€13,789 | -11.2% |
| Furniture and vehicles | 24 | €122,927 | €109,138 | -€13,789 | -11.2% |
| Current assets | 29/58 | €1,526,407 | €1,761,950 | +€235,543 | +15.4% |
| Amounts receivable within one year | 40/41 | €54,042 | €29,315 | -€24,727 | -45.8% |
| Other amounts receivable | 41 | €54,042 | €29,315 | -€24,727 | -45.8% |
| Current investments | 50/53 | €1,408,186 | €1,616,075 | +€207,889 | +14.8% |
| Cash at bank and in hand | 54/58 | €58,607 | €110,988 | +€52,381 | +89.4% |
| Deferred charges and accrued income | 490/1 | €5,572 | €5,572 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,649,334 | €1,871,088 | +€221,754 | +13.4% |
| Equity | 10/15 | €1,631,341 | €1,545,932 | -€85,409 | -5.2% |
| Contributions | 10/11 | €13,200 | €13,200 | = | 0.0% |
| Reserves | 13 | €1,618,141 | €1,532,732 | -€85,409 | -5.3% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €1,616,141 | €1,530,732 | -€85,409 | -5.3% |
| Amounts payable | 17/49 | €17,993 | €325,156 | +€307,163 | +1,707% |
| Amounts payable within one year | 42/48 | €17,018 | €325,156 | +€308,138 | +1,811% |
| Trade debts | 44 | €3,219 | €3,289 | +€70 | +2.2% |
| Suppliers | 440/4 | €3,219 | €3,289 | +€70 | +2.2% |
| Other amounts payable | 47/48 | €13,799 | €321,867 | +€308,068 | +2,233% |
| Accrued charges and deferred income | 492/3 | €975 | - | -€975 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,789 | €13,789 | = | 0.0% |
| Other operating charges | 640/8 | €2,753 | €2,923 | +€170 | +6.2% |
| Gross operating margin | 9900 | €253,287 | €286,279 | +€32,992 | +13.0% |
| Operating profit (loss) | 9901 | €236,745 | €269,567 | +€32,822 | +13.9% |
| Financial income | 75/76B | €11,193 | €77,770 | +€66,577 | +595% |
| Recurring financial income | 75 | €11,193 | €77,770 | +€66,577 | +595% |
| Financial charges | 65/66B | €2,047 | €1,073 | -€974 | -47.6% |
| Recurring financial charges | 65 | €2,047 | €1,073 | -€974 | -47.6% |
| Profit (loss) for the period before taxes | 9903 | €245,891 | €346,264 | +€100,373 | +40.8% |
| Income taxes | 67/77 | €77,836 | €94,016 | +€16,179 | +20.8% |
| Profit (loss) for the period | 9904 | €168,055 | €252,249 | +€84,194 | +50.1% |
| Profit (loss) for the period to be appropriated | 9905 | €168,055 | €252,249 | +€84,194 | +50.1% |
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.