M@RQUEE: 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.
M@RQUEE
Largest movements
- Receivables within one year -€50,358
down €50,358 (-23.3%), from €216,309 to €165,951
of which Other amounts receivable: -€53,648
- Cash -€16,236
down €16,236 (-48.9%), from €33,173 to €16,937
mainly Contributions, distributions and other (-€91,759) and Trade debts (-€776)
- Stocks and contracts -€4,500
no longer reported in 2025 (was €4,500)
- Reserves -€82,164
down €82,164 (-35.1%), from €234,103 to €151,939
of which Distributable reserves: -€82,164
- Other debts +€8,864
new in 2025: €8,864
- Gross operating margin -€24,289
down €24,289 (-63.1%), from €38,499 to €14,210
- Taxes -€4,125
down €4,125 (-50.6%), from €8,150 to €4,025
- Financial charges -€658
down €658 (-77.6%), from €849 to €190
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 | €253,982 | €182,888 | -€71,094 | -28.0% |
| Current assets | 29/58 | €253,982 | €182,888 | -€71,094 | -28.0% |
| Stocks and contracts in progress | 3 | €4,500 | - | -€4,500 | |
| Stocks | 30/36 | €4,500 | - | -€4,500 | |
| Amounts receivable within one year | 40/41 | €216,309 | €165,951 | -€50,358 | -23.3% |
| Trade receivables | 40 | €10,436 | €13,726 | +€3,290 | +31.5% |
| Other amounts receivable | 41 | €205,873 | €152,225 | -€53,648 | -26.1% |
| Cash at bank and in hand | 54/58 | €33,173 | €16,937 | -€16,236 | -48.9% |
| Total equity and liabilities | 10/49 | €253,982 | €182,888 | -€71,094 | -28.0% |
| Equity | 10/15 | €240,303 | €158,139 | -€82,164 | -34.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €234,103 | €151,939 | -€82,164 | -35.1% |
| 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 | €232,243 | €150,079 | -€82,164 | -35.4% |
| Amounts payable | 17/49 | €13,679 | €24,749 | +€11,070 | +80.9% |
| Amounts payable within one year | 42/48 | €13,679 | €24,059 | +€10,380 | +75.9% |
| Trade debts | 44 | €2,606 | €1,830 | -€776 | -29.8% |
| Suppliers | 440/4 | €2,606 | €1,830 | -€776 | -29.8% |
| Taxes, remuneration and social security | 45 | €11,073 | €13,364 | +€2,291 | +20.7% |
| Taxes | 450/3 | €11,073 | €9,697 | -€1,376 | -12.4% |
| Remuneration and social security | 454/9 | - | €3,667 | +€3,667 | |
| Other amounts payable | 47/48 | - | €8,864 | +€8,864 | |
| Accrued charges and deferred income | 492/3 | - | €690 | +€690 | |
| Non-recurring operating income | 76A | - | €549 | +€549 | |
| Other operating charges | 640/8 | €450 | €400 | -€51 | -11.3% |
| Gross operating margin | 9900 | €38,499 | €14,210 | -€24,289 | -63.1% |
| Operating profit (loss) | 9901 | €38,048 | €13,811 | -€24,238 | -63.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €849 | €190 | -€658 | -77.6% |
| Recurring financial charges | 65 | €849 | €190 | -€658 | -77.6% |
| Profit (loss) for the period before taxes | 9903 | €37,200 | €13,620 | -€23,580 | -63.4% |
| Income taxes | 67/77 | €8,150 | €4,025 | -€4,125 | -50.6% |
| Profit (loss) for the period | 9904 | €29,050 | €9,595 | -€19,455 | -67.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,050 | €9,595 | -€19,455 | -67.0% |
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 24 October 2026 via checked.be.