Mar-Sell Consult: 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.
Mar-Sell Consult
Largest movements
- Tangible fixed assets +€302,367
up €302,367 (+5,346%), from €5,656 to €308,023
of which Land and buildings: +€304,200
- Cash -€24,201
down €24,201 (-64.3%), from €37,666 to €13,465
mainly Investment in fixed assets (net) (-€308,530) and Contributions, distributions and other (-€80,000)
- Receivables after one year +€15,351
up €15,351 (+37.3%), from €41,166 to €56,517
- Receivables within one year -€13,946
down €13,946 (-35.9%), from €38,821 to €24,875
of which Trade receivables: -€16,309
- Debts after one year +€228,277
new in 2025: €228,277
- Other debts +€80,000
up €80,000 (+40,000%), from €200 to €80,200
- Reserves -€50,695
down €50,695 (-47.6%), from €106,484 to €55,789
- Current portion of long-term debt +€22,565
new in 2025: €22,565
- Other operating charges +€41,981
up €41,981 (+1,342%), from €3,129 to €45,111
- Gross operating margin +€18,218
up €18,218 (+24.3%), from €75,059 to €93,277
- Taxes -€7,097
down €7,097 (-42.0%), from €16,887 to €9,789
- Financial charges +€4,527
up €4,527 (+248%), from €1,822 to €6,349
- Depreciation +€4,330
up €4,330 (+236%), from €1,833 to €6,163
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 | €129,475 | €411,473 | +€281,998 | +218% |
| Fixed assets | 21/28 | €5,761 | €308,128 | +€302,367 | +5,248% |
| Tangible fixed assets | 22/27 | €5,656 | €308,023 | +€302,367 | +5,346% |
| Land and buildings | 22 | - | €304,200 | +€304,200 | |
| Furniture and vehicles | 24 | €890 | €328 | -€562 | -63.1% |
| Other tangible fixed assets | 26 | €4,766 | €3,495 | -€1,271 | -26.7% |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €123,714 | €103,345 | -€20,369 | -16.5% |
| Amounts receivable after more than one year | 29 | €41,166 | €56,517 | +€15,351 | +37.3% |
| Other amounts receivable | 291 | €41,166 | €56,517 | +€15,351 | +37.3% |
| Amounts receivable within one year | 40/41 | €38,821 | €24,875 | -€13,946 | -35.9% |
| Trade receivables | 40 | €38,821 | €22,512 | -€16,309 | -42.0% |
| Other amounts receivable | 41 | - | €2,363 | +€2,363 | |
| Cash at bank and in hand | 54/58 | €37,666 | €13,465 | -€24,201 | -64.3% |
| Deferred charges and accrued income | 490/1 | €6,061 | €8,490 | +€2,428 | +40.1% |
| Total equity and liabilities | 10/49 | €129,475 | €411,473 | +€281,998 | +218% |
| Equity | 10/15 | €108,484 | €57,789 | -€50,695 | -46.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €106,484 | €55,789 | -€50,695 | -47.6% |
| Distributable reserves | 133 | €106,484 | €55,789 | -€50,695 | -47.6% |
| Amounts payable | 17/49 | €20,991 | €353,684 | +€332,693 | +1,585% |
| Amounts payable after more than one year | 17 | - | €228,277 | +€228,277 | |
| Financial debts | 170/4 | - | €228,277 | +€228,277 | |
| Amounts payable within one year | 42/48 | €19,836 | €123,097 | +€103,261 | +521% |
| Current portion of amounts payable after more than one year | 42 | - | €22,565 | +€22,565 | |
| Trade debts | 44 | €3,555 | €3,253 | -€302 | -8.5% |
| Suppliers | 440/4 | €3,555 | €3,253 | -€302 | -8.5% |
| Taxes, remuneration and social security | 45 | €16,082 | €17,079 | +€998 | +6.2% |
| Taxes | 450/3 | €13,982 | €12,879 | -€1,102 | -7.9% |
| Remuneration and social security | 454/9 | €2,100 | €4,200 | +€2,100 | +100% |
| Other amounts payable | 47/48 | €200 | €80,200 | +€80,000 | +40,000% |
| Accrued charges and deferred income | 492/3 | €1,155 | €2,310 | +€1,155 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,833 | €6,163 | +€4,330 | +236% |
| Other operating charges | 640/8 | €3,129 | €45,111 | +€41,981 | +1,342% |
| Gross operating margin | 9900 | €75,059 | €93,277 | +€18,218 | +24.3% |
| Operating profit (loss) | 9901 | €70,097 | €42,003 | -€28,094 | -40.1% |
| Financial income | 75/76B | €1,914 | €3,440 | +€1,526 | +79.8% |
| Recurring financial income | 75 | €1,914 | €3,440 | +€1,526 | +79.8% |
| Financial charges | 65/66B | €1,822 | €6,349 | +€4,527 | +248% |
| Recurring financial charges | 65 | €1,822 | €6,349 | +€4,527 | +248% |
| Profit (loss) for the period before taxes | 9903 | €70,189 | €39,094 | -€31,094 | -44.3% |
| Income taxes | 67/77 | €16,887 | €9,789 | -€7,097 | -42.0% |
| Profit (loss) for the period | 9904 | €53,302 | €29,305 | -€23,997 | -45.0% |
| Profit (loss) for the period to be appropriated | 9905 | €53,302 | €29,305 | -€23,997 | -45.0% |
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 30 October 2026 via checked.be.