MARC DESMET: 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.
MARC DESMET
Largest movements
- Cash +€18,984
up €18,984 (+6.4%), from €298,708 to €317,691
mainly Trade debts (+€21,149) and Net result for the year (+€9,693)
- Receivables within one year +€10,401
up €10,401 (+16.3%), from €63,799 to €74,199
of which Trade receivables: +€17,261
- Intangible fixed assets -€6,167
down €6,167 (-7.1%), from €86,333 to €80,167
- Trade debts +€21,149
up €21,149 (+176%), from €12,000 to €33,149
- Profit (loss) carried forward +€9,693
up €9,693 (+2.3%), from €415,586 to €425,279
- Tax, wage and social debts -€5,991
down €5,991 (-45.0%), from €13,325 to €7,334
- Gross operating margin -€30,145
down €30,145 (-40.6%), from €74,285 to €44,140
- Depreciation +€746
up €746 (+9.0%), from €8,325 to €9,071
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 | €461,362 | €486,213 | +€24,851 | +5.4% |
| Fixed assets | 21/28 | €95,960 | €91,008 | -€4,952 | -5.2% |
| Intangible fixed assets | 21 | €86,333 | €80,167 | -€6,167 | -7.1% |
| Tangible fixed assets | 22/27 | €9,627 | €10,841 | +€1,215 | +12.6% |
| Furniture and vehicles | 24 | €9,627 | €10,841 | +€1,215 | +12.6% |
| Current assets | 29/58 | €365,402 | €395,205 | +€29,803 | +8.2% |
| Amounts receivable within one year | 40/41 | €63,799 | €74,199 | +€10,401 | +16.3% |
| Trade receivables | 40 | €37,598 | €54,859 | +€17,261 | +45.9% |
| Other amounts receivable | 41 | €26,200 | €19,341 | -€6,860 | -26.2% |
| Cash at bank and in hand | 54/58 | €298,708 | €317,691 | +€18,984 | +6.4% |
| Deferred charges and accrued income | 490/1 | €2,896 | €3,315 | +€419 | +14.5% |
| Total equity and liabilities | 10/49 | €461,362 | €486,213 | +€24,851 | +5.4% |
| Equity | 10/15 | €436,037 | €445,730 | +€9,693 | +2.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €415,586 | €425,279 | +€9,693 | +2.3% |
| Amounts payable | 17/49 | €25,325 | €40,483 | +€15,158 | +59.9% |
| Amounts payable within one year | 42/48 | €25,325 | €40,483 | +€15,158 | +59.9% |
| Trade debts | 44 | €12,000 | €33,149 | +€21,149 | +176% |
| Suppliers | 440/4 | €12,000 | €33,149 | +€21,149 | +176% |
| Taxes, remuneration and social security | 45 | €13,325 | €7,334 | -€5,991 | -45.0% |
| Taxes | 450/3 | €13,325 | €7,334 | -€5,991 | -45.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,325 | €9,071 | +€746 | +9.0% |
| Other operating charges | 640/8 | €1,823 | €1,999 | +€176 | +9.7% |
| Gross operating margin | 9900 | €74,285 | €44,140 | -€30,145 | -40.6% |
| Operating profit (loss) | 9901 | €64,137 | €33,070 | -€31,067 | -48.4% |
| Financial charges | 65/66B | €337 | €249 | -€88 | -26.0% |
| Recurring financial charges | 65 | €337 | €249 | -€88 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | €63,800 | €32,821 | -€30,979 | -48.6% |
| Income taxes | 67/77 | €23,742 | €23,127 | -€615 | -2.6% |
| Profit (loss) for the period | 9904 | €40,058 | €9,693 | -€30,365 | -75.8% |
| Profit (loss) for the period to be appropriated | 9905 | €40,058 | €9,693 | -€30,365 | -75.8% |
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.