DR. WILLEMS MARJON: 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. WILLEMS MARJON
Largest movements
- Tangible fixed assets -€14,713
down €14,713 (-5.2%), from €285,147 to €270,434
of which Land and buildings: -€10,000
- Cash +€7,510
up €7,510 (+46.6%), from €16,124 to €23,634
mainly Net result for the year (+€18,655) and Depreciation (+€17,337)
- Receivables within one year -€3,524
down €3,524 (-27.3%), from €12,902 to €9,378
of which Trade receivables: -€2,096
- Other debts +€12,000
up €12,000 (+240%), from €5,000 to €17,000
- Debts after one year -€9,612
down €9,612 (-4.3%), from €223,902 to €214,290
- Reserves -€7,228
down €7,228 (-11.2%), from €64,490 to €57,263
- Trade debts -€6,233
down €6,233 (-82.5%), from €7,558 to €1,326
- Gross operating margin -€11,701
down €11,701 (-18.6%), from €62,989 to €51,287
- Taxes -€2,072
down €2,072 (-28.3%), from €7,322 to €5,250
- Depreciation -€788
down €788 (-4.3%), from €18,124 to €17,337
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 | €314,217 | €303,490 | -€10,727 | -3.4% |
| Fixed assets | 21/28 | €285,190 | €270,477 | -€14,713 | -5.2% |
| Tangible fixed assets | 22/27 | €285,147 | €270,434 | -€14,713 | -5.2% |
| Land and buildings | 22 | €230,000 | €220,000 | -€10,000 | -4.3% |
| Plant, machinery and equipment | 23 | €3,453 | €2,134 | -€1,319 | -38.2% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €51,694 | €48,299 | -€3,395 | -6.6% |
| Financial fixed assets | 28 | €44 | €44 | = | 0.0% |
| Current assets | 29/58 | €29,026 | €33,013 | +€3,986 | +13.7% |
| Amounts receivable within one year | 40/41 | €12,902 | €9,378 | -€3,524 | -27.3% |
| Trade receivables | 40 | €10,224 | €8,128 | -€2,096 | -20.5% |
| Other amounts receivable | 41 | €2,678 | €1,250 | -€1,428 | -53.3% |
| Cash at bank and in hand | 54/58 | €16,124 | €23,634 | +€7,510 | +46.6% |
| Total equity and liabilities | 10/49 | €314,217 | €303,490 | -€10,727 | -3.4% |
| Equity | 10/15 | €68,490 | €61,263 | -€7,228 | -10.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €64,490 | €57,263 | -€7,228 | -11.2% |
| Distributable reserves | 133 | €64,490 | €57,263 | -€7,228 | -11.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €245,726 | €242,227 | -€3,499 | -1.4% |
| Amounts payable after more than one year | 17 | €223,902 | €214,290 | -€9,612 | -4.3% |
| Financial debts | 170/4 | €223,902 | €214,290 | -€9,612 | -4.3% |
| Amounts payable within one year | 42/48 | €21,825 | €27,937 | +€6,113 | +28.0% |
| Current portion of amounts payable after more than one year | 42 | €9,267 | €9,612 | +€345 | +3.7% |
| Trade debts | 44 | €7,558 | €1,326 | -€6,233 | -82.5% |
| Suppliers | 440/4 | €7,558 | €1,326 | -€6,233 | -82.5% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €5,000 | €17,000 | +€12,000 | +240% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,124 | €17,337 | -€788 | -4.3% |
| Other operating charges | 640/8 | €1,670 | €1,486 | -€184 | -11.0% |
| Gross operating margin | 9900 | €62,989 | €51,287 | -€11,701 | -18.6% |
| Operating profit (loss) | 9901 | €43,195 | €32,465 | -€10,729 | -24.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €8,914 | €8,561 | -€353 | -4.0% |
| Recurring financial charges | 65 | €8,914 | €8,561 | -€353 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €34,281 | €23,904 | -€10,377 | -30.3% |
| Income taxes | 67/77 | €7,322 | €5,250 | -€2,072 | -28.3% |
| Profit (loss) for the period | 9904 | €26,959 | €18,655 | -€8,305 | -30.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,959 | €18,655 | -€8,305 | -30.8% |
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 29 October 2026 via checked.be.