EXCLAMATION - MARC: what changed
Two fiscal 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.
EXCLAMATION - MARC
Largest movements
- Receivables within one year +€20,029
up €20,029 (+97.4%), from €20,573 to €40,601
of which Trade receivables: +€20,111
- Cash -€18,607
down €18,607 (-12.6%), from €148,065 to €129,458
mainly Receivables within one year (-€20,029) and Debts after one year (-€18,769)
- Tangible fixed assets -€13,013
down €13,013 (-10.0%), from €130,180 to €117,168
of which Land and buildings: -€16,492
- Debts after one year -€18,769
down €18,769 (-24.6%), from €76,436 to €57,667
- Tax, wage and social debts +€13,186
up €13,186 (+78.4%), from €16,810 to €29,996
of which Taxes: +€18,336
- Reserves +€11,251
up €11,251 (+7.0%), from €160,921 to €172,171
- Other debts -€9,296
down €9,296 (-43.8%), from €21,211 to €11,916
- Current portion of long-term debt -€6,231
down €6,231 (-24.9%), from €25,000 to €18,769
- Gross operating margin -€80,487
down €80,487 (-61.6%), from €130,593 to €50,106
- Taxes -€22,352
down €22,352 (-76.9%), from €29,076 to €6,725
- Financial charges -€3,195
down €3,195 (-52.8%), from €6,046 to €2,851
- Depreciation +€2,912
up €2,912 (+11.8%), from €24,707 to €27,620
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.
Cash bridge derived
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 | €340,412 | €328,906 | -€11,507 | -3.4% |
| Fixed assets | 21/28 | €170,180 | €157,168 | -€13,013 | -7.6% |
| Tangible fixed assets | 22/27 | €130,180 | €117,168 | -€13,013 | -10.0% |
| Land and buildings | 22 | €90,489 | €73,997 | -€16,492 | -18.2% |
| Plant, machinery and equipment | 23 | - | €9,150 | +€9,150 | |
| Furniture and vehicles | 24 | €31,406 | €26,160 | -€5,247 | -16.7% |
| Other tangible fixed assets | 26 | €8,285 | €7,862 | -€423 | -5.1% |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €170,232 | €171,738 | +€1,506 | +0.9% |
| Amounts receivable within one year | 40/41 | €20,573 | €40,601 | +€20,029 | +97.4% |
| Trade receivables | 40 | €16,490 | €36,601 | +€20,111 | +122.0% |
| Other amounts receivable | 41 | €4,083 | €4,000 | -€83 | -2.0% |
| Cash at bank and in hand | 54/58 | €148,065 | €129,458 | -€18,607 | -12.6% |
| Deferred charges and accrued income | 490/1 | €1,594 | €1,678 | +€84 | +5.3% |
| Total equity and liabilities | 10/49 | €340,412 | €328,906 | -€11,507 | -3.4% |
| Equity | 10/15 | €179,521 | €190,771 | +€11,251 | +6.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €160,921 | €172,171 | +€11,251 | +7.0% |
| Distributable reserves | 133 | €160,921 | €172,171 | +€11,251 | +7.0% |
| Amounts payable | 17/49 | €160,892 | €138,134 | -€22,757 | -14.1% |
| Amounts payable after more than one year | 17 | €76,436 | €57,667 | -€18,769 | -24.6% |
| Financial debts | 170/4 | €76,436 | €57,667 | -€18,769 | -24.6% |
| Amounts payable within one year | 42/48 | €84,456 | €80,467 | -€3,989 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €18,769 | -€6,231 | -24.9% |
| Trade debts | 44 | €21,435 | €19,787 | -€1,648 | -7.7% |
| Suppliers | 440/4 | €21,435 | €19,787 | -€1,648 | -7.7% |
| Taxes, remuneration and social security | 45 | €16,810 | €29,996 | +€13,186 | +78.4% |
| Taxes | 450/3 | €11,660 | €29,996 | +€18,336 | +157.3% |
| Remuneration and social security | 454/9 | €5,150 | - | -€5,150 | |
| Other amounts payable | 47/48 | €21,211 | €11,916 | -€9,296 | -43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,707 | €27,620 | +€2,912 | +11.8% |
| Other operating charges | 640/8 | €2,590 | €1,661 | -€929 | -35.9% |
| Gross operating margin | 9900 | €130,593 | €50,106 | -€80,487 | -61.6% |
| Operating profit (loss) | 9901 | €103,296 | €20,826 | -€82,471 | -79.8% |
| Financial income | 75/76B | €25 | €1 | -€24 | -97.1% |
| Recurring financial income | 75 | €25 | €1 | -€24 | -97.1% |
| Financial charges | 65/66B | €6,046 | €2,851 | -€3,195 | -52.8% |
| Recurring financial charges | 65 | €6,046 | €2,851 | -€3,195 | -52.8% |
| Profit (loss) for the period before taxes | 9903 | €97,275 | €17,975 | -€79,300 | -81.5% |
| Income taxes | 67/77 | €29,076 | €6,725 | -€22,352 | -76.9% |
| Profit (loss) for the period | 9904 | €68,199 | €11,251 | -€56,948 | -83.5% |
| Profit (loss) for the period to be appropriated | 9905 | €68,199 | €11,251 | -€56,948 | -83.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.