MAR1: 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.
MAR1
Largest movements
- Current investments +€120,000
up €120,000 (+27.9%), from €430,000 to €550,000
- Cash -€45,990
down €45,990 (-69.9%), from €65,798 to €19,807
mainly Current investments (-€120,000) and Other debts (-€9,910)
- Reserves +€76,254
up €76,254 (+37.5%), from €203,507 to €279,760
- Other debts -€9,910
down €9,910 (-78.3%), from €12,658 to €2,747
- Tax, wage and social debts +€7,625
new in 2024: €7,625
- Financial income +€18,344
up €18,344 (+3,031%), from €605 to €18,950
- Gross operating margin +€16,225
up €16,225 (+22.7%), from €71,607 to €87,832
- Taxes +€6,292
up €6,292 (+27.2%), from €23,145 to €29,438
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €517,331 | €591,350 | +€74,020 | +14.3% |
| Fixed assets | 21/28 | €513 | €2,771 | +€2,259 | +441% |
| Tangible fixed assets | 22/27 | €434 | €2,692 | +€2,259 | +521% |
| Plant, machinery and equipment | 23 | €305 | €200 | -€106 | -34.6% |
| Furniture and vehicles | 24 | €128 | €2,492 | +€2,364 | +1,843% |
| Financial fixed assets | 28 | €79 | €79 | = | 0.0% |
| Current assets | 29/58 | €516,818 | €588,579 | +€71,761 | +13.9% |
| Amounts receivable within one year | 40/41 | €21,020 | €18,772 | -€2,248 | -10.7% |
| Trade receivables | 40 | €13,657 | €1,016 | -€12,642 | -92.6% |
| Other amounts receivable | 41 | €7,363 | €17,756 | +€10,393 | +141% |
| Current investments | 50/53 | €430,000 | €550,000 | +€120,000 | +27.9% |
| Cash at bank and in hand | 54/58 | €65,798 | €19,807 | -€45,990 | -69.9% |
| Total equity and liabilities | 10/49 | €517,331 | €591,350 | +€74,020 | +14.3% |
| Equity | 10/15 | €500,491 | €576,744 | +€76,254 | +15.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €203,507 | €279,760 | +€76,254 | +37.5% |
| Distributable reserves | 133 | €203,507 | €279,760 | +€76,254 | +37.5% |
| Profit (loss) carried forward | 14 | €278,384 | €278,384 | = | 0.0% |
| Amounts payable | 17/49 | €16,840 | €14,606 | -€2,234 | -13.3% |
| Amounts payable within one year | 42/48 | €13,745 | €14,606 | +€861 | +6.3% |
| Trade debts | 44 | €1,088 | €4,233 | +€3,146 | +289% |
| Suppliers | 440/4 | €1,088 | €4,233 | +€3,146 | +289% |
| Taxes, remuneration and social security | 45 | - | €7,625 | +€7,625 | |
| Taxes | 450/3 | - | €7,625 | +€7,625 | |
| Other amounts payable | 47/48 | €12,658 | €2,747 | -€9,910 | -78.3% |
| Accrued charges and deferred income | 492/3 | €3,095 | - | -€3,095 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €260 | €771 | +€511 | +196% |
| Gross operating margin | 9900 | €71,607 | €87,832 | +€16,225 | +22.7% |
| Operating profit (loss) | 9901 | €71,347 | €87,061 | +€15,714 | +22.0% |
| Financial income | 75/76B | €605 | €18,950 | +€18,344 | +3,031% |
| Recurring financial income | 75 | €605 | €18,950 | +€18,344 | +3,031% |
| Financial charges | 65/66B | €279 | €319 | +€41 | +14.6% |
| Recurring financial charges | 65 | €279 | €319 | +€41 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | €71,674 | €105,692 | +€34,018 | +47.5% |
| Income taxes | 67/77 | €23,145 | €29,438 | +€6,292 | +27.2% |
| Profit (loss) for the period | 9904 | €48,528 | €76,254 | +€27,725 | +57.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,528 | €76,254 | +€27,725 | +57.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.