LES MARCHAHES: 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.
LES MARCHAHES
Largest movements
- Tangible fixed assets -€24,067
down €24,067 (-2.5%), from €975,153 to €951,086
of which Land and buildings: -€38,953
- Receivables within one year -€10,496
down €10,496 (-80.4%), from €13,061 to €2,565
of which Other amounts receivable: -€10,005
- Other debts +€37,717
up €37,717 (+201%), from €18,762 to €56,479
- Debts after one year -€36,411
down €36,411 (-7.1%), from €515,719 to €479,308
- Profit (loss) carried forward -€19,214
down €19,214 (-18.7%), from -€102,655 to -€121,868
- Reserves -€10,222
down €10,222 (-2.8%), from €360,319 to €350,097
of which Tax-exempt reserves: -€10,222
- Gross operating margin +€22,310
up €22,310 (+60.7%), from €36,732 to €59,042
- Depreciation +€19,609
up €19,609 (+34.4%), from €57,074 to €76,684
- Other operating charges -€2,478
down €2,478 (-40.0%), from €6,194 to €3,716
- Financial charges -€2,382
down €2,382 (-17.2%), from €13,884 to €11,502
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 | €1,007,332 | €978,642 | -€28,689 | -2.8% |
| Fixed assets | 21/28 | €975,153 | €951,086 | -€24,067 | -2.5% |
| Tangible fixed assets | 22/27 | €975,153 | €951,086 | -€24,067 | -2.5% |
| Land and buildings | 22 | €891,685 | €852,733 | -€38,953 | -4.4% |
| Plant, machinery and equipment | 23 | €53,878 | €79,004 | +€25,126 | +46.6% |
| Furniture and vehicles | 24 | €29,590 | €19,350 | -€10,240 | -34.6% |
| Current assets | 29/58 | €32,179 | €27,556 | -€4,623 | -14.4% |
| Stocks and contracts in progress | 3 | €13,950 | €15,130 | +€1,180 | +8.5% |
| Stocks | 30/36 | €13,950 | €15,130 | +€1,180 | +8.5% |
| Amounts receivable within one year | 40/41 | €13,061 | €2,565 | -€10,496 | -80.4% |
| Trade receivables | 40 | €3,056 | €2,565 | -€491 | -16.1% |
| Other amounts receivable | 41 | €10,005 | - | -€10,005 | |
| Cash at bank and in hand | 54/58 | €4,107 | €9,861 | +€5,754 | +140% |
| Deferred charges and accrued income | 490/1 | €1,061 | - | -€1,061 | |
| Total equity and liabilities | 10/49 | €1,007,332 | €978,642 | -€28,689 | -2.8% |
| Equity | 10/15 | €332,665 | €303,229 | -€29,436 | -8.8% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €360,319 | €350,097 | -€10,222 | -2.8% |
| Tax-exempt reserves | 132 | €283,653 | €273,430 | -€10,222 | -3.6% |
| Distributable reserves | 133 | €76,667 | €76,667 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€102,655 | -€121,868 | -€19,214 | -18.7% |
| Provisions and deferred taxes | 16 | €94,551 | €91,143 | -€3,407 | -3.6% |
| Deferred taxes | 168 | €94,551 | €91,143 | -€3,407 | -3.6% |
| Amounts payable | 17/49 | €580,116 | €584,270 | +€4,154 | +0.7% |
| Amounts payable after more than one year | 17 | €515,719 | €479,308 | -€36,411 | -7.1% |
| Financial debts | 170/4 | €515,719 | €479,308 | -€36,411 | -7.1% |
| Amounts payable within one year | 42/48 | €64,397 | €104,962 | +€40,565 | +63.0% |
| Current portion of amounts payable after more than one year | 42 | €35,765 | €36,411 | +€646 | +1.8% |
| Trade debts | 44 | €5,630 | €6,807 | +€1,177 | +20.9% |
| Suppliers | 440/4 | €5,630 | €6,807 | +€1,177 | +20.9% |
| Taxes, remuneration and social security | 45 | €4,239 | €5,264 | +€1,025 | +24.2% |
| Taxes | 450/3 | €2,239 | €5,264 | +€3,025 | +135% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €18,762 | €56,479 | +€37,717 | +201% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,074 | €76,684 | +€19,609 | +34.4% |
| Other operating charges | 640/8 | €6,194 | €3,716 | -€2,478 | -40.0% |
| Gross operating margin | 9900 | €36,732 | €59,042 | +€22,310 | +60.7% |
| Operating profit (loss) | 9901 | -€26,537 | -€21,357 | +€5,179 | +19.5% |
| Financial income | 75/76B | €9 | €162 | +€153 | +1,721% |
| Recurring financial income | 75 | €9 | €162 | +€153 | +1,721% |
| Financial charges | 65/66B | €13,884 | €11,502 | -€2,382 | -17.2% |
| Recurring financial charges | 65 | €13,884 | €11,502 | -€2,382 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | -€40,412 | -€32,698 | +€7,714 | +19.1% |
| Transfer from deferred taxes | 780 | €3,407 | €3,407 | = | 0.0% |
| Income taxes | 67/77 | €206 | €146 | -€61 | -29.4% |
| Profit (loss) for the period | 9904 | -€37,211 | -€29,436 | +€7,775 | +20.9% |
| Transfer from tax-exempt reserves | 789 | €10,222 | €10,222 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,989 | -€19,214 | +€7,775 | +28.8% |
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 28 October 2026 via checked.be.