ETS MARCHAL: 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.
ETS MARCHAL
Largest movements
- Cash +€1,860
up €1,860 (+298%), from €623 to €2,483
mainly Other debts (+€8,570) and Net result for the year (+€5,363)
- Receivables within one year -€839
down €839 (-76.4%), from €1,098 to €259
- Deferred charges and accrued income +€736
up €736 (+6,811%), from €11 to €747
- Tangible fixed assets +€54
up €54 (+5.3%), from €1,016 to €1,070
of which Plant, machinery and equipment: +€554
- Tax, wage and social debts -€12,167
down €12,167 (-65.9%), from €18,468 to €6,301
of which Remuneration and social security: -€9,508
- Other debts +€8,570
up €8,570 (+218%), from €3,929 to €12,499
- Profit (loss) carried forward +€5,363
up €5,363 (+21.9%), from -€24,502 to -€19,139
- Accrued charges and deferred income +€817
new in 2025: €817
- Trade debts -€772
down €772 (-24.0%), from €3,217 to €2,445
- Gross operating margin +€31,514
up €31,514, from -€23,595 to €7,919
- Other operating charges +€1,563
up €1,563 (+1,339%), from €117 to €1,679
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 | €3,112 | €4,923 | +€1,811 | +58.2% |
| Fixed assets | 21/28 | €1,379 | €1,433 | +€54 | +3.9% |
| Tangible fixed assets | 22/27 | €1,016 | €1,070 | +€54 | +5.3% |
| Plant, machinery and equipment | 23 | - | €554 | +€554 | |
| Furniture and vehicles | 24 | €1,016 | €516 | -€500 | -49.2% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €1,732 | €3,490 | +€1,757 | +101% |
| Amounts receivable within one year | 40/41 | €1,098 | €259 | -€839 | -76.4% |
| Other amounts receivable | 41 | €1,098 | €259 | -€839 | -76.4% |
| Cash at bank and in hand | 54/58 | €623 | €2,483 | +€1,860 | +298% |
| Deferred charges and accrued income | 490/1 | €11 | €747 | +€736 | +6,811% |
| Total equity and liabilities | 10/49 | €3,112 | €4,923 | +€1,811 | +58.2% |
| Equity | 10/15 | -€22,502 | -€17,139 | +€5,363 | +23.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,502 | -€19,139 | +€5,363 | +21.9% |
| Amounts payable | 17/49 | €25,614 | €22,062 | -€3,552 | -13.9% |
| Amounts payable within one year | 42/48 | €25,614 | €21,245 | -€4,369 | -17.1% |
| Trade debts | 44 | €3,217 | €2,445 | -€772 | -24.0% |
| Suppliers | 440/4 | €3,217 | €2,445 | -€772 | -24.0% |
| Taxes, remuneration and social security | 45 | €18,468 | €6,301 | -€12,167 | -65.9% |
| Taxes | 450/3 | €2,918 | €259 | -€2,659 | -91.1% |
| Remuneration and social security | 454/9 | €15,550 | €6,042 | -€9,508 | -61.1% |
| Other amounts payable | 47/48 | €3,929 | €12,499 | +€8,570 | +218% |
| Accrued charges and deferred income | 492/3 | - | €817 | +€817 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €484 | €507 | +€24 | +4.9% |
| Other operating charges | 640/8 | €117 | €1,679 | +€1,563 | +1,339% |
| Gross operating margin | 9900 | -€23,595 | €7,919 | +€31,514 | |
| Operating profit (loss) | 9901 | -€24,195 | €5,733 | +€29,928 | |
| Financial income | 75/76B | €0 | €3 | +€3 | +29,900% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +29,900% |
| Financial charges | 65/66B | €307 | €372 | +€66 | +21.4% |
| Recurring financial charges | 65 | €307 | €372 | +€66 | +21.4% |
| Profit (loss) for the period before taxes | 9903 | -€24,502 | €5,363 | +€29,865 | |
| Profit (loss) for the period | 9904 | -€24,502 | €5,363 | +€29,865 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,502 | €5,363 | +€29,865 |
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 14 October 2026 via checked.be.