GERALD MARC: 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.
GERALD MARC
Largest movements
- Stocks and contracts +€10,163
up €10,163 (+17.1%), from €59,563 to €69,727
- Cash +€6,543
up €6,543 (+6521.2%), from €100 to €6,643
mainly Other debts (+€21,922) and Net result for the year (+€15,398)
- Receivables within one year +€4,616
up €4,616 (+28.0%), from €16,498 to €21,114
- Tangible fixed assets +€4,330
up €4,330 (+14.2%), from €30,536 to €34,866
of which Other tangible fixed assets: +€11,277
- Other debts +€21,922
up €21,922 (+30.3%), from €72,341 to €94,263
- Reserves +€9,323
up €9,323 (+214.1%), from €4,354 to €13,677
of which Distributable reserves: +€9,323
- Trade debts -€8,694
down €8,694 (-94.5%), from €9,195 to €502
- Profit (loss) carried forward +€6,075
up €6,075, from -€6,075 to €0
- Debts after one year -€5,074
down €5,074 (-35.9%), from €14,148 to €9,073
- Gross operating margin +€15,587
up €15,587 (+151.3%), from €10,305 to €25,892
- Other operating charges +€543
up €543 (+73.7%), from €736 to €1,279
- Depreciation -€418
down €418 (-4.8%), from €8,657 to €8,239
- Financial charges -€298
down €298 (-26.2%), from €1,136 to €838
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 | €114,408 | €139,638 | +€25,230 | +22.1% |
| Fixed assets | 21/28 | €36,536 | €40,866 | +€4,330 | +11.9% |
| Tangible fixed assets | 22/27 | €30,536 | €34,866 | +€4,330 | +14.2% |
| Plant, machinery and equipment | 23 | €3,048 | €2,240 | -€808 | -26.5% |
| Furniture and vehicles | 24 | €20,852 | €14,713 | -€6,139 | -29.4% |
| Other tangible fixed assets | 26 | €6,636 | €17,913 | +€11,277 | +169.9% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €77,873 | €98,772 | +€20,900 | +26.8% |
| Stocks and contracts in progress | 3 | €59,563 | €69,727 | +€10,163 | +17.1% |
| Stocks | 30/36 | €59,563 | €69,727 | +€10,163 | +17.1% |
| Amounts receivable within one year | 40/41 | €16,498 | €21,114 | +€4,616 | +28.0% |
| Trade receivables | 40 | €16,498 | €21,114 | +€4,616 | +28.0% |
| Cash at bank and in hand | 54/58 | €100 | €6,643 | +€6,543 | +6521.2% |
| Deferred charges and accrued income | 490/1 | €1,711 | €1,289 | -€422 | -24.7% |
| Total equity and liabilities | 10/49 | €114,408 | €139,638 | +€25,230 | +22.1% |
| Equity | 10/15 | €4,479 | €19,877 | +€15,398 | +343.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €4,354 | €13,677 | +€9,323 | +214.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €2,494 | €11,817 | +€9,323 | +373.8% |
| Profit (loss) carried forward | 14 | -€6,075 | €0 | +€6,075 | |
| Amounts payable | 17/49 | €109,929 | €119,761 | +€9,832 | +8.9% |
| Amounts payable after more than one year | 17 | €14,148 | €9,073 | -€5,074 | -35.9% |
| Financial debts | 170/4 | €14,148 | €9,073 | -€5,074 | -35.9% |
| Amounts payable within one year | 42/48 | €95,781 | €110,688 | +€14,907 | +15.6% |
| Current portion of amounts payable after more than one year | 42 | €7,814 | €7,814 | = | 0.0% |
| Trade debts | 44 | €9,195 | €502 | -€8,694 | -94.5% |
| Suppliers | 440/4 | €9,195 | €502 | -€8,694 | -94.5% |
| Taxes, remuneration and social security | 45 | €6,430 | €8,109 | +€1,678 | +26.1% |
| Taxes | 450/3 | €6,430 | €8,109 | +€1,678 | +26.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €72,341 | €94,263 | +€21,922 | +30.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,657 | €8,239 | -€418 | -4.8% |
| Other operating charges | 640/8 | €736 | €1,279 | +€543 | +73.7% |
| Gross operating margin | 9900 | €10,305 | €25,892 | +€15,587 | +151.3% |
| Operating profit (loss) | 9901 | €912 | €16,374 | +€15,462 | +1695.1% |
| Financial income | 75/76B | €117 | €143 | +€26 | +22.1% |
| Recurring financial income | 75 | €117 | €143 | +€26 | +22.1% |
| Financial charges | 65/66B | €1,136 | €838 | -€298 | -26.2% |
| Recurring financial charges | 65 | €1,136 | €838 | -€298 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | -€108 | €15,678 | +€15,786 | |
| Income taxes | 67/77 | €45 | €280 | +€235 | +521.9% |
| Profit (loss) for the period | 9904 | -€153 | €15,398 | +€15,551 | |
| Profit (loss) for the period to be appropriated | 9905 | -€153 | €15,398 | +€15,551 |
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 10 October 2026 via checked.be.