MAERSCHALCK PASCAL: 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.
MAERSCHALCK PASCAL
Largest movements
- Tangible fixed assets +€45,016
up €45,016 (+104.2%), from €43,192 to €88,208
of which Furniture and vehicles: +€46,021
- Cash -€14,170
down €14,170 (-32.9%), from €43,049 to €28,879
mainly Investment in fixed assets (net) (-€61,531) and Stocks and contracts (-€680)
- Profit (loss) carried forward +€12,117
up €12,117, from -€12,117 to €0
- Debts after one year +€8,219
up €8,219 (+38.2%), from €21,506 to €29,725
- Current portion of long-term debt +€4,835
up €4,835 (+36.0%), from €13,415 to €18,249
- Reserves +€2,050
up €2,050 (+2.8%), from €73,722 to €75,772
of which Distributable reserves: +€2,050
- Trade debts +€1,938
up €1,938 (+43.1%), from €4,498 to €6,437
- Gross operating margin +€24,523
up €24,523 (+225.5%), from €10,873 to €35,396
- Depreciation -€5,250
down €5,250 (-24.1%), from €21,765 to €16,515
- Taxes +€1,278
up €1,278 (+994.1%), from €129 to €1,407
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 | €107,224 | €137,790 | +€30,566 | +28.5% |
| Fixed assets | 21/28 | €43,192 | €88,208 | +€45,016 | +104.2% |
| Tangible fixed assets | 22/27 | €43,192 | €88,208 | +€45,016 | +104.2% |
| Land and buildings | 22 | €1,017 | €844 | -€174 | -17.1% |
| Plant, machinery and equipment | 23 | €3,323 | €2,492 | -€831 | -25.0% |
| Furniture and vehicles | 24 | €38,852 | €84,872 | +€46,021 | +118.5% |
| Current assets | 29/58 | €64,032 | €49,582 | -€14,450 | -22.6% |
| Stocks and contracts in progress | 3 | €2,315 | €2,995 | +€680 | +29.4% |
| Stocks | 30/36 | €2,315 | €2,995 | +€680 | +29.4% |
| Amounts receivable within one year | 40/41 | €17,467 | €17,259 | -€208 | -1.2% |
| Trade receivables | 40 | €10,474 | €6,037 | -€4,437 | -42.4% |
| Other amounts receivable | 41 | €6,993 | €11,222 | +€4,229 | +60.5% |
| Cash at bank and in hand | 54/58 | €43,049 | €28,879 | -€14,170 | -32.9% |
| Deferred charges and accrued income | 490/1 | €1,201 | €449 | -€752 | -62.6% |
| Total equity and liabilities | 10/49 | €107,224 | €137,790 | +€30,566 | +28.5% |
| Equity | 10/15 | €67,805 | €81,972 | +€14,167 | +20.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €73,722 | €75,772 | +€2,050 | +2.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €65,722 | €67,772 | +€2,050 | +3.1% |
| Profit (loss) carried forward | 14 | -€12,117 | €0 | +€12,117 | |
| Amounts payable | 17/49 | €39,419 | €55,818 | +€16,399 | +41.6% |
| Amounts payable after more than one year | 17 | €21,506 | €29,725 | +€8,219 | +38.2% |
| Financial debts | 170/4 | €21,506 | €29,725 | +€8,219 | +38.2% |
| Amounts payable within one year | 42/48 | €17,913 | €26,093 | +€8,180 | +45.7% |
| Current portion of amounts payable after more than one year | 42 | €13,415 | €18,249 | +€4,835 | +36.0% |
| Trade debts | 44 | €4,498 | €6,437 | +€1,938 | +43.1% |
| Suppliers | 440/4 | €4,498 | €6,437 | +€1,938 | +43.1% |
| Taxes, remuneration and social security | 45 | €0 | €1,407 | +€1,407 | |
| Taxes | 450/3 | €0 | €1,407 | +€1,407 | |
| Non-recurring operating income | 76A | - | €18,066 | +€18,066 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,765 | €16,515 | -€5,250 | -24.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €738 | €765 | +€27 | +3.6% |
| Gross operating margin | 9900 | €10,873 | €35,396 | +€24,523 | +225.5% |
| Operating profit (loss) | 9901 | -€11,630 | €18,117 | +€29,747 | |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €2,218 | €2,553 | +€335 | +15.1% |
| Recurring financial charges | 65 | €2,218 | €2,553 | +€335 | +15.1% |
| Profit (loss) for the period before taxes | 9903 | -€13,848 | €15,574 | +€29,422 | |
| Income taxes | 67/77 | €129 | €1,407 | +€1,278 | +994.1% |
| Profit (loss) for the period | 9904 | -€13,977 | €14,167 | +€28,143 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,977 | €14,167 | +€28,143 |
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 8 October 2026 via checked.be.