MARC CAIN BELGIUM: what changed
MARC CAIN BELGIUM
Largest movements
- Receivables after one year -€182,754
down €182,754 (-82.2%), from €222,293 to €39,539
- Stocks and contracts -€131,476
down €131,476 (-35.2%), from €373,040 to €241,564
- Receivables within one year +€37,421
up €37,421 (+7,542%), from €496 to €37,917
of which Other amounts receivable: +€37,917
- Cash +€24,342
up €24,342 (+7.4%), from €330,526 to €354,868
mainly Contributions, distributions and other (+€2.5m) and Receivables after one year (+€182,754)
- Tangible fixed assets -€21,891
down €21,891 (-35.8%), from €61,213 to €39,322
of which Furniture and vehicles: -€18,102
- Other debts -€2.8m
down €2.8m (-96.7%), from €2.9m to €95,700
- Contributions +€2.5m
up €2.5m (+4,032%), from €62,000 to €2.6m
- Tax, wage and social debts +€55,824
up €55,824 (+50.8%), from €109,888 to €165,713
of which Taxes: +€34,827
- Profit (loss) carried forward -€41,741
down €41,741 (-2.0%), from -€2.1m to -€2.2m
- Gross operating margin +€97,252
up €97,252 (+12.8%), from €758,340 to €855,592
- Depreciation -€33,837
down €33,837 (-60.7%), from €55,728 to €21,891
- Staff costs -€29,425
down €29,425 (-3.9%), from €762,001 to €732,576
- Other operating charges -€11,779
down €11,779 (-18.9%), from €62,419 to €50,640
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,074,851 | €787,687 | -€287,163 | -26.7% |
| Fixed assets | 21/28 | €132,236 | €110,344 | -€21,891 | -16.6% |
| Tangible fixed assets | 22/27 | €61,213 | €39,322 | -€21,891 | -35.8% |
| Plant, machinery and equipment | 23 | €9,911 | €7,849 | -€2,062 | -20.8% |
| Furniture and vehicles | 24 | €45,333 | €27,231 | -€18,102 | -39.9% |
| Other tangible fixed assets | 26 | €5,969 | €4,242 | -€1,727 | -28.9% |
| Financial fixed assets | 28 | €71,023 | €71,023 | = | 0.0% |
| Current assets | 29/58 | €942,615 | €677,343 | -€265,272 | -28.1% |
| Amounts receivable after more than one year | 29 | €222,293 | €39,539 | -€182,754 | -82.2% |
| Other amounts receivable | 291 | €222,293 | €39,539 | -€182,754 | -82.2% |
| Stocks and contracts in progress | 3 | €373,040 | €241,564 | -€131,476 | -35.2% |
| Stocks | 30/36 | €373,040 | €241,564 | -€131,476 | -35.2% |
| Amounts receivable within one year | 40/41 | €496 | €37,917 | +€37,421 | +7,542% |
| Trade receivables | 40 | €496 | €0 | -€496 | -100% |
| Other amounts receivable | 41 | €0 | €37,917 | +€37,917 | |
| Cash at bank and in hand | 54/58 | €330,526 | €354,868 | +€24,342 | +7.4% |
| Deferred charges and accrued income | 490/1 | €16,260 | €3,456 | -€12,804 | -78.7% |
| Total equity and liabilities | 10/49 | €1,074,851 | €787,687 | -€287,163 | -26.7% |
| Equity | 10/15 | -€2,044,969 | €413,290 | +€2.5m | |
| Contributions | 10/11 | €62,000 | €2,562,000 | +€2.5m | +4,032% |
| Capital | 10 | €62,000 | €2,562,000 | +€2.5m | +4,032% |
| Issued capital | 100 | €62,000 | €2,562,000 | +€2.5m | +4,032% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,113,169 | -€2,154,910 | -€41,741 | -2.0% |
| Provisions and deferred taxes | 16 | €89,734 | €89,734 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €89,734 | €89,734 | = | 0.0% |
| Other liabilities and charges | 164/5 | €89,734 | €89,734 | = | 0.0% |
| Amounts payable | 17/49 | €3,030,086 | €284,664 | -€2.7m | -90.6% |
| Amounts payable within one year | 42/48 | €3,016,666 | €276,664 | -€2.7m | -90.8% |
| Trade debts | 44 | €6,993 | €13,292 | +€6,299 | +90.1% |
| Suppliers | 440/4 | €6,993 | €13,292 | +€6,299 | +90.1% |
| Advances received on contracts in progress | 46 | €49 | €1,959 | +€1,910 | +3,906% |
| Taxes, remuneration and social security | 45 | €109,888 | €165,713 | +€55,824 | +50.8% |
| Taxes | 450/3 | €31,055 | €65,882 | +€34,827 | +112% |
| Remuneration and social security | 454/9 | €78,833 | €99,831 | +€20,998 | +26.6% |
| Other amounts payable | 47/48 | €2,899,736 | €95,700 | -€2.8m | -96.7% |
| Accrued charges and deferred income | 492/3 | €13,420 | €8,000 | -€5,420 | -40.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €762,001 | €732,576 | -€29,425 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,728 | €21,891 | -€33,837 | -60.7% |
| Other operating charges | 640/8 | €62,419 | €50,640 | -€11,779 | -18.9% |
| Gross operating margin | 9900 | €758,340 | €855,592 | +€97,252 | +12.8% |
| Operating profit (loss) | 9901 | -€121,808 | €50,484 | +€172,292 | |
| Financial income | 75/76B | €41 | €0 | -€41 | -100% |
| Recurring financial income | 75 | €41 | €0 | -€41 | -100% |
| Financial charges | 65/66B | €100,274 | €91,821 | -€8,453 | -8.4% |
| Recurring financial charges | 65 | €100,274 | €91,821 | -€8,453 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | -€222,041 | -€41,337 | +€180,704 | +81.4% |
| Income taxes | 67/77 | €410 | €404 | -€6 | -1.4% |
| Profit (loss) for the period | 9904 | -€222,451 | -€41,741 | +€180,710 | +81.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€222,451 | -€41,741 | +€180,710 | +81.2% |
Next steps
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 4 November 2026 via checked.be.