Maarschelk: 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.
Maarschelk
Largest movements
- Receivables within one year +€5,900
up €5,900 (+776%), from €760 to €6,660
of which Other amounts receivable: +€3,078
- Cash +€2,812
up €2,812 (+307%), from €915 to €3,727
mainly Net result for the year (+€4,782) and Current portion of long-term debt (+€3,153)
- Current investments +€1,260
up €1,260 (+31.5%), from €4,000 to €5,260
- Tangible fixed assets -€592
down €592 (-5.6%), from €10,545 to €9,953
of which Other tangible fixed assets: -€1,387
- Reserves +€4,782
up €4,782 (+35.9%), from €13,334 to €18,117
- Current portion of long-term debt +€3,153
new in 2025: €3,153
- Tax, wage and social debts +€804
up €804 (+53.8%), from €1,494 to €2,298
- Trade debts +€742
up €742 (+256%), from €290 to €1,033
- Gross operating margin -€11,957
down €11,957 (-51.5%), from €23,241 to €11,283
- Taxes -€3,246
down €3,246 (-41.9%), from €7,742 to €4,496
- Other operating charges -€420
down €420 (-77.8%), from €540 to €120
- Financial charges +€236
up €236 (+537%), from €44 to €280
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 | €16,220 | €25,600 | +€9,380 | +57.8% |
| Fixed assets | 21/28 | €10,545 | €9,953 | -€592 | -5.6% |
| Tangible fixed assets | 22/27 | €10,545 | €9,953 | -€592 | -5.6% |
| Plant, machinery and equipment | 23 | - | €1,010 | +€1,010 | |
| Furniture and vehicles | 24 | €918 | €703 | -€215 | -23.4% |
| Other tangible fixed assets | 26 | €9,627 | €8,240 | -€1,387 | -14.4% |
| Current assets | 29/58 | €5,675 | €15,647 | +€9,972 | +176% |
| Amounts receivable within one year | 40/41 | €760 | €6,660 | +€5,900 | +776% |
| Trade receivables | 40 | €760 | €3,582 | +€2,822 | +371% |
| Other amounts receivable | 41 | - | €3,078 | +€3,078 | |
| Current investments | 50/53 | €4,000 | €5,260 | +€1,260 | +31.5% |
| Cash at bank and in hand | 54/58 | €915 | €3,727 | +€2,812 | +307% |
| Total equity and liabilities | 10/49 | €16,220 | €25,600 | +€9,380 | +57.8% |
| Equity | 10/15 | €14,334 | €19,117 | +€4,782 | +33.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €13,334 | €18,117 | +€4,782 | +35.9% |
| Distributable reserves | 133 | €13,334 | €18,117 | +€4,782 | +35.9% |
| Amounts payable | 17/49 | €1,886 | €6,484 | +€4,598 | +244% |
| Amounts payable within one year | 42/48 | €1,886 | €6,484 | +€4,598 | +244% |
| Current portion of amounts payable after more than one year | 42 | - | €3,153 | +€3,153 | |
| Trade debts | 44 | €290 | €1,033 | +€742 | +256% |
| Suppliers | 440/4 | €290 | €1,033 | +€742 | +256% |
| Taxes, remuneration and social security | 45 | €1,494 | €2,298 | +€804 | +53.8% |
| Taxes | 450/3 | €1,494 | €2,298 | +€804 | +53.8% |
| Other amounts payable | 47/48 | €101 | - | -€101 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,582 | €1,686 | +€105 | +6.6% |
| Other operating charges | 640/8 | €540 | €120 | -€420 | -77.8% |
| Gross operating margin | 9900 | €23,241 | €11,283 | -€11,957 | -51.5% |
| Operating profit (loss) | 9901 | €21,119 | €9,477 | -€11,642 | -55.1% |
| Financial income | 75/76B | €1 | €81 | +€80 | +9,195% |
| Recurring financial income | 75 | €1 | €81 | +€80 | +9,195% |
| Financial charges | 65/66B | €44 | €280 | +€236 | +537% |
| Recurring financial charges | 65 | €44 | €280 | +€236 | +537% |
| Profit (loss) for the period before taxes | 9903 | €21,076 | €9,278 | -€11,798 | -56.0% |
| Income taxes | 67/77 | €7,742 | €4,496 | -€3,246 | -41.9% |
| Profit (loss) for the period | 9904 | €13,334 | €4,782 | -€8,552 | -64.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,334 | €4,782 | -€8,552 | -64.1% |
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 23 October 2026 via checked.be.