Lord Marcus: 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.
Lord Marcus
Largest movements
- Receivables within one year -€8,070
down €8,070 (-96.6%), from €8,351 to €282
of which Trade receivables: -€7,500
- Tangible fixed assets -€7,537
down €7,537 (-6.7%), from €112,683 to €105,146
of which Land and buildings: -€4,727
- Other debts -€21,171
down €21,171 (-23.2%), from €91,171 to €70,001
- Debts after one year +€18,851
up €18,851 (+39.7%), from €47,526 to €66,377
of which Other amounts payable: +€20,000
- Profit (loss) carried forward -€9,413
down €9,413 (-12.9%), from -€72,740 to -€82,154
- Short-term financial debts +€6,794
new in 2025: €6,794
- Trade debts -€5,562
down €5,562 (-88.1%), from €6,311 to €750
- Gross operating margin -€14,587
down €14,587, from €14,099 to -€488
- Other operating charges -€929
no longer reported in 2025 (was €929)
- Financial charges -€265
down €265 (-17.5%), from €1,512 to €1,247
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 | €121,504 | €105,780 | -€15,725 | -12.9% |
| Fixed assets | 21/28 | €112,683 | €105,146 | -€7,537 | -6.7% |
| Tangible fixed assets | 22/27 | €112,683 | €105,146 | -€7,537 | -6.7% |
| Land and buildings | 22 | €63,159 | €58,432 | -€4,727 | -7.5% |
| Plant, machinery and equipment | 23 | €800 | €800 | = | 0.0% |
| Furniture and vehicles | 24 | €11,822 | €10,595 | -€1,227 | -10.4% |
| Other tangible fixed assets | 26 | €36,902 | €35,319 | -€1,583 | -4.3% |
| Current assets | 29/58 | €8,821 | €633 | -€8,188 | -92.8% |
| Amounts receivable within one year | 40/41 | €8,351 | €282 | -€8,070 | -96.6% |
| Trade receivables | 40 | €7,500 | - | -€7,500 | |
| Other amounts receivable | 41 | €851 | €282 | -€570 | -66.9% |
| Cash at bank and in hand | 54/58 | €149 | - | -€149 | |
| Deferred charges and accrued income | 490/1 | €320 | €351 | +€31 | +9.7% |
| Total equity and liabilities | 10/49 | €121,504 | €105,780 | -€15,725 | -12.9% |
| Equity | 10/15 | -€29,877 | -€39,290 | -€9,413 | -31.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,264 | €24,264 | = | 0.0% |
| 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 | €22,404 | €22,404 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,740 | -€82,154 | -€9,413 | -12.9% |
| Amounts payable | 17/49 | €151,381 | €145,070 | -€6,311 | -4.2% |
| Amounts payable after more than one year | 17 | €47,526 | €66,377 | +€18,851 | +39.7% |
| Financial debts | 170/4 | €7,526 | €6,377 | -€1,149 | -15.3% |
| Other amounts payable | 178/9 | €40,000 | €60,000 | +€20,000 | +50.0% |
| Amounts payable within one year | 42/48 | €98,605 | €78,693 | -€19,913 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €1,123 | €1,149 | +€26 | +2.3% |
| Financial debts | 43 | - | €6,794 | +€6,794 | |
| Credit institutions | 430/8 | - | €6,794 | +€6,794 | |
| Trade debts | 44 | €6,311 | €750 | -€5,562 | -88.1% |
| Suppliers | 440/4 | €6,311 | €750 | -€5,562 | -88.1% |
| Other amounts payable | 47/48 | €91,171 | €70,001 | -€21,171 | -23.2% |
| Accrued charges and deferred income | 492/3 | €5,250 | - | -€5,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,537 | €7,537 | +€0 | 0.0% |
| Other operating charges | 640/8 | €929 | - | -€929 | |
| Gross operating margin | 9900 | €14,099 | -€488 | -€14,587 | |
| Operating profit (loss) | 9901 | €5,632 | -€8,025 | -€13,658 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,512 | €1,247 | -€265 | -17.5% |
| Recurring financial charges | 65 | €1,512 | €1,247 | -€265 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €4,121 | -€9,272 | -€13,393 | |
| Income taxes | 67/77 | €131 | €141 | +€10 | +7.8% |
| Profit (loss) for the period | 9904 | €3,990 | -€9,413 | -€13,403 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,990 | -€9,413 | -€13,403 |
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 7 October 2026 via checked.be.