I & CM MARBOTIN: 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.
I & CM MARBOTIN
Largest movements
- Receivables within one year -€254,935
down €254,935 (-80.7%), from €315,817 to €60,882
of which Other amounts receivable: -€244,642
- Cash -€36,188
down €36,188 (-21.0%), from €172,298 to €136,111
mainly Contributions, distributions and other (-€212,000) and Other debts (-€122,990)
- Profit (loss) carried forward -€171,209
down €171,209 (-87.0%), from €196,753 to €25,544
- Other debts -€122,990
down €122,990 (-96.2%), from €127,810 to €4,821
- Trade debts +€71,599
up €71,599 (+55.0%), from €130,168 to €201,767
- Reserves -€69,375
down €69,375 (-91.8%), from €75,575 to €6,200
of which Distributable reserves: -€69,375
- Current portion of long-term debt +€7,740
up €7,740 (+487%), from €1,588 to €9,328
- Gross operating margin -€167,313
down €167,313 (-52.3%), from €319,999 to €152,686
- Taxes +€54,408
up €54,408 (+1,088%), from €5,000 to €59,408
- Depreciation -€4,175
down €4,175 (-43.8%), from €9,526 to €5,351
- Other operating charges -€3,439
no longer reported in 2025 (was €3,439)
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 | €613,617 | €323,588 | -€290,028 | -47.3% |
| Fixed assets | 21/28 | €18,561 | €16,820 | -€1,741 | -9.4% |
| Tangible fixed assets | 22/27 | €18,561 | €16,820 | -€1,741 | -9.4% |
| Plant, machinery and equipment | 23 | €6,063 | €5,351 | -€712 | -11.7% |
| Furniture and vehicles | 24 | €12,498 | €8,163 | -€4,334 | -34.7% |
| Other tangible fixed assets | 26 | - | €3,306 | +€3,306 | |
| Current assets | 29/58 | €595,056 | €306,768 | -€288,288 | -48.4% |
| Stocks and contracts in progress | 3 | €106,941 | €109,775 | +€2,835 | +2.7% |
| Stocks | 30/36 | €106,941 | €109,775 | +€2,835 | +2.7% |
| Amounts receivable within one year | 40/41 | €315,817 | €60,882 | -€254,935 | -80.7% |
| Trade receivables | 40 | €68,936 | €58,644 | -€10,292 | -14.9% |
| Other amounts receivable | 41 | €246,881 | €2,239 | -€244,642 | -99.1% |
| Cash at bank and in hand | 54/58 | €172,298 | €136,111 | -€36,188 | -21.0% |
| Total equity and liabilities | 10/49 | €613,617 | €323,588 | -€290,028 | -47.3% |
| Equity | 10/15 | €335,008 | €94,424 | -€240,584 | -71.8% |
| Contributions | 10/11 | €62,680 | €62,680 | = | 0.0% |
| Reserves | 13 | €75,575 | €6,200 | -€69,375 | -91.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €69,375 | - | -€69,375 | |
| Profit (loss) carried forward | 14 | €196,753 | €25,544 | -€171,209 | -87.0% |
| Amounts payable | 17/49 | €278,609 | €229,164 | -€49,444 | -17.7% |
| Amounts payable within one year | 42/48 | €278,609 | €229,164 | -€49,444 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €1,588 | €9,328 | +€7,740 | +487% |
| Trade debts | 44 | €130,168 | €201,767 | +€71,599 | +55.0% |
| Suppliers | 440/4 | €130,168 | €201,767 | +€71,599 | +55.0% |
| Taxes, remuneration and social security | 45 | €19,042 | €13,249 | -€5,794 | -30.4% |
| Taxes | 450/3 | €7,569 | €2,976 | -€4,593 | -60.7% |
| Remuneration and social security | 454/9 | €11,473 | €10,272 | -€1,201 | -10.5% |
| Other amounts payable | 47/48 | €127,810 | €4,821 | -€122,990 | -96.2% |
| Non-recurring operating income | 76A | €236,945 | - | -€236,945 | |
| Remuneration, social security and pensions | 62 | €113,971 | €115,288 | +€1,318 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,526 | €5,351 | -€4,175 | -43.8% |
| Other operating charges | 640/8 | €3,439 | - | -€3,439 | |
| Gross operating margin | 9900 | €319,999 | €152,686 | -€167,313 | -52.3% |
| Operating profit (loss) | 9901 | €193,063 | €32,047 | -€161,016 | -83.4% |
| Financial income | 75/76B | €1,790 | - | -€1,790 | |
| Recurring financial income | 75 | €1,790 | - | -€1,790 | |
| Financial charges | 65/66B | €1,025 | €1,223 | +€197 | +19.3% |
| Recurring financial charges | 65 | €1,025 | €1,223 | +€197 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €193,828 | €30,825 | -€163,004 | -84.1% |
| Income taxes | 67/77 | €5,000 | €59,408 | +€54,408 | +1,088% |
| Profit (loss) for the period | 9904 | €188,828 | -€28,584 | -€217,412 | |
| Profit (loss) for the period to be appropriated | 9905 | €188,828 | -€28,584 | -€217,412 |
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 1 November 2026 via checked.be.