MARC: what changed
What changed
MARC
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
-€18,288
2024 · -€24,226+€5,938
Equity
€390,288
2024 · €408,576-€18,288
Cash
€4,360
2024 · €3,922+€438
Balance sheet total
€421,680
2024 · €456,713-€35,033
Largest movements
Assets
- Tangible fixed assets -€35,470
down €35,470 (-7.8%), from €452,790 to €417,320
of which Land and buildings: -€34,942
Equity and liabilities
- Reserves -€18,288
down €18,288 (-5.3%), from €346,576 to €328,288
of which Distributable reserves: -€10,521
- Other debts -€13,809
down €13,809 (-51.9%), from €26,597 to €12,788
Income statement
- Gross operating margin +€6,053
up €6,053 (+48.9%), from €12,377 to €18,430
- Depreciation +€190
up €190 (+0.5%), from €35,280 to €35,470
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€24,226
Gross operating margin
+€6,053
Depreciation
-€190
Other operating charges
+€86
Financial income
+€3
Financial charges
-€13
Result 2025
-€18,288
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€438
Investment
€0
Financing
€0
Cash 2024
€3,922
From operations (derived)
+€438
Net result for the year
-€18,288
Depreciation
+€35,470
Provisions
-€3,262
Trade debts
+€327
Other debts
-€13,809
Cash 2025
€4,360
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €456,713 | €421,680 | -€35,033 | -7.7% |
| Fixed assets | 21/28 | €452,790 | €417,320 | -€35,470 | -7.8% |
| Tangible fixed assets | 22/27 | €452,790 | €417,320 | -€35,470 | -7.8% |
| Land and buildings | 22 | €450,684 | €415,742 | -€34,942 | -7.8% |
| Furniture and vehicles | 24 | €2,107 | €1,578 | -€529 | -25.1% |
| Current assets | 29/58 | €3,922 | €4,360 | +€438 | +11.2% |
| Cash at bank and in hand | 54/58 | €3,922 | €4,360 | +€438 | +11.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €456,713 | €421,680 | -€35,033 | -7.7% |
| Equity | 10/15 | €408,576 | €390,288 | -€18,288 | -4.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €346,576 | €328,288 | -€18,288 | -5.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €51,152 | €43,385 | -€7,767 | -15.2% |
| Distributable reserves | 133 | €289,224 | €278,702 | -€10,521 | -3.6% |
| Provisions and deferred taxes | 16 | €21,486 | €18,224 | -€3,262 | -15.2% |
| Deferred taxes | 168 | €21,486 | €18,224 | -€3,262 | -15.2% |
| Amounts payable | 17/49 | €26,651 | €13,169 | -€13,482 | -50.6% |
| Amounts payable within one year | 42/48 | €26,651 | €13,169 | -€13,482 | -50.6% |
| Trade debts | 44 | €54 | €381 | +€327 | +606% |
| Suppliers | 440/4 | €54 | €381 | +€327 | +606% |
| Other amounts payable | 47/48 | €26,597 | €12,788 | -€13,809 | -51.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,280 | €35,470 | +€190 | +0.5% |
| Other operating charges | 640/8 | €4,500 | €4,415 | -€86 | -1.9% |
| Gross operating margin | 9900 | €12,377 | €18,430 | +€6,053 | +48.9% |
| Operating profit (loss) | 9901 | -€27,403 | -€21,455 | +€5,948 | +21.7% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €86 | €99 | +€13 | +15.1% |
| Recurring financial charges | 65 | €86 | €99 | +€13 | +15.1% |
| Profit (loss) for the period before taxes | 9903 | -€27,489 | -€21,550 | +€5,938 | +21.6% |
| Transfer from deferred taxes | 780 | €3,262 | €3,262 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€24,226 | -€18,288 | +€5,938 | +24.5% |
| Transfer from tax-exempt reserves | 789 | €7,767 | €7,767 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,460 | -€10,521 | +€5,938 | +36.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.