MARC DUCHASSEUR: 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 DUCHASSEUR
Largest movements
- Receivables within one year -€34,902
no longer reported in 2025 (was €34,902)
of which Other amounts receivable: -€32,389
- Intangible fixed assets -€22,011
down €22,011 (-10.3%), from €214,442 to €192,431
- Tangible fixed assets -€9,350
down €9,350 (-15.6%), from €59,789 to €50,439
of which Other tangible fixed assets: -€8,324
- Cash +€5,701
up €5,701 (+60.0%), from €9,495 to €15,196
mainly Receivables within one year (+€34,902) and Depreciation (+€33,225)
- Profit (loss) carried forward -€38,752
down €38,752 (-11.5%), from -€336,630 to -€375,382
- Tax, wage and social debts -€33,795
down €33,795 (-72.1%), from €46,899 to €13,104
of which Taxes: -€29,495
- Trade debts +€28,903
up €28,903 (+57.8%), from €50,001 to €78,903
- Debts after one year -€19,133
down €19,133 (-3.7%), from €512,358 to €493,225
- Purchases and services -€24,527
down €24,527 (-8.4%), from €292,238 to €267,711
- Turnover -€13,922
down €13,922 (-4.3%), from €320,970 to €307,048
- Staff costs -€9,422
down €9,422 (-21.0%), from €44,814 to €35,392
- Gross operating margin +€5,251
up €5,251 (+13.7%), from €38,285 to €43,536
- Other operating charges -€3,814
down €3,814 (-44.8%), from €8,507 to €4,693
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 | €335,691 | €273,586 | -€62,105 | -18.5% |
| Fixed assets | 21/28 | €286,131 | €254,770 | -€31,361 | -11.0% |
| Intangible fixed assets | 21 | €214,442 | €192,431 | -€22,011 | -10.3% |
| Tangible fixed assets | 22/27 | €59,789 | €50,439 | -€9,350 | -15.6% |
| Furniture and vehicles | 24 | €126 | €1,105 | +€979 | +777% |
| Other tangible fixed assets | 26 | €57,658 | €49,334 | -€8,324 | -14.4% |
| Assets under construction and advance payments | 27 | €2,005 | - | -€2,005 | |
| Financial fixed assets | 28 | €11,900 | €11,900 | = | 0.0% |
| Current assets | 29/58 | €49,560 | €18,815 | -€30,744 | -62.0% |
| Stocks and contracts in progress | 3 | €4,086 | €3,146 | -€940 | -23.0% |
| Stocks | 30/36 | €4,086 | €3,146 | -€940 | -23.0% |
| Amounts receivable within one year | 40/41 | €34,902 | - | -€34,902 | |
| Trade receivables | 40 | €2,513 | - | -€2,513 | |
| Other amounts receivable | 41 | €32,389 | - | -€32,389 | |
| Cash at bank and in hand | 54/58 | €9,495 | €15,196 | +€5,701 | +60.0% |
| Deferred charges and accrued income | 490/1 | €1,077 | €474 | -€603 | -56.0% |
| Total equity and liabilities | 10/49 | €335,691 | €273,586 | -€62,105 | -18.5% |
| Equity | 10/15 | -€281,630 | -€320,382 | -€38,752 | -13.8% |
| Contributions | 10/11 | €55,000 | €55,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€336,630 | -€375,382 | -€38,752 | -11.5% |
| Amounts payable | 17/49 | €617,321 | €593,968 | -€23,353 | -3.8% |
| Amounts payable after more than one year | 17 | €512,358 | €493,225 | -€19,133 | -3.7% |
| Financial debts | 170/4 | €512,358 | €493,225 | -€19,133 | -3.7% |
| Amounts payable within one year | 42/48 | €104,963 | €100,743 | -€4,220 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €8,063 | €8,735 | +€672 | +8.3% |
| Trade debts | 44 | €50,001 | €78,903 | +€28,903 | +57.8% |
| Suppliers | 440/4 | €50,001 | €78,903 | +€28,903 | +57.8% |
| Taxes, remuneration and social security | 45 | €46,899 | €13,104 | -€33,795 | -72.1% |
| Taxes | 450/3 | €38,501 | €9,006 | -€29,495 | -76.6% |
| Remuneration and social security | 454/9 | €8,398 | €4,098 | -€4,300 | -51.2% |
| Turnover | 70 | €320,970 | €307,048 | -€13,922 | -4.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €292,238 | €267,711 | -€24,527 | -8.4% |
| Remuneration, social security and pensions | 62 | €44,814 | €35,392 | -€9,422 | -21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,010 | €33,225 | -€2,785 | -7.7% |
| Other operating charges | 640/8 | €8,507 | €4,693 | -€3,814 | -44.8% |
| Gross operating margin | 9900 | €38,285 | €43,536 | +€5,251 | +13.7% |
| Operating profit (loss) | 9901 | -€51,046 | -€29,774 | +€21,272 | +41.7% |
| Financial income | 75/76B | €1,839 | - | -€1,839 | |
| Recurring financial income | 75 | €1,839 | - | -€1,839 | |
| Financial charges | 65/66B | €7,666 | €8,694 | +€1,028 | +13.4% |
| Recurring financial charges | 65 | €7,666 | €8,694 | +€1,028 | +13.4% |
| Profit (loss) for the period before taxes | 9903 | -€56,873 | -€38,468 | +€18,404 | +32.4% |
| Income taxes | 67/77 | €282 | €283 | +€1 | +0.4% |
| Profit (loss) for the period | 9904 | -€57,155 | -€38,752 | +€18,403 | +32.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€57,155 | -€38,752 | +€18,403 | +32.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.