Marc Germain D.O.: 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 Germain D.O.
Largest movements
- Cash -€14,057
down €14,057 (-24.1%), from €58,234 to €44,177
mainly Contributions, distributions and other (-€30,000) and Other debts (-€17,193)
- Intangible fixed assets -€2,300
down €2,300 (-52.2%), from €4,408 to €2,108
- Receivables within one year -€1,467
down €1,467 (-100%), from €1,467 to €0
of which Other amounts receivable: -€767
- Other debts -€17,193
down €17,193 (-87.1%), from €19,730 to €2,537
- Accrued charges and deferred income -€1,600
down €1,600 (-100%), from €1,600 to €0
- Gross operating margin +€5,453
up €5,453 (+13.3%), from €40,885 to €46,338
- Taxes +€1,177
up €1,177 (+12.7%), from €9,233 to €10,410
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 | €68,757 | €51,061 | -€17,696 | -25.7% |
| Fixed assets | 21/28 | €7,994 | €5,284 | -€2,710 | -33.9% |
| Intangible fixed assets | 21 | €4,408 | €2,108 | -€2,300 | -52.2% |
| Tangible fixed assets | 22/27 | €3,586 | €3,176 | -€410 | -11.4% |
| Plant, machinery and equipment | 23 | €1,059 | €658 | -€401 | -37.9% |
| Furniture and vehicles | 24 | €165 | €927 | +€762 | +463% |
| Other tangible fixed assets | 26 | €2,362 | €1,590 | -€772 | -32.7% |
| Current assets | 29/58 | €60,763 | €45,777 | -€14,985 | -24.7% |
| Amounts receivable within one year | 40/41 | €1,467 | €0 | -€1,467 | -100% |
| Trade receivables | 40 | €700 | €0 | -€700 | -100% |
| Other amounts receivable | 41 | €767 | €0 | -€767 | -100% |
| Cash at bank and in hand | 54/58 | €58,234 | €44,177 | -€14,057 | -24.1% |
| Deferred charges and accrued income | 490/1 | €1,061 | €1,600 | +€539 | +50.8% |
| Total equity and liabilities | 10/49 | €68,757 | €51,061 | -€17,696 | -25.7% |
| Equity | 10/15 | €46,255 | €46,504 | +€249 | +0.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,255 | €43,504 | +€249 | +0.6% |
| Amounts payable | 17/49 | €22,502 | €4,557 | -€17,945 | -79.7% |
| Amounts payable within one year | 42/48 | €20,902 | €4,557 | -€16,345 | -78.2% |
| Trade debts | 44 | €1,171 | €1,809 | +€638 | +54.5% |
| Suppliers | 440/4 | €1,171 | €1,809 | +€638 | +54.5% |
| Taxes, remuneration and social security | 45 | €0 | €210 | +€210 | |
| Taxes | 450/3 | €0 | €210 | +€210 | |
| Other amounts payable | 47/48 | €19,730 | €2,537 | -€17,193 | -87.1% |
| Accrued charges and deferred income | 492/3 | €1,600 | €0 | -€1,600 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,646 | €3,917 | +€272 | +7.4% |
| Other operating charges | 640/8 | €692 | €933 | +€241 | +34.7% |
| Gross operating margin | 9900 | €40,885 | €46,338 | +€5,453 | +13.3% |
| Operating profit (loss) | 9901 | €36,547 | €41,488 | +€4,941 | +13.5% |
| Financial income | 75/76B | €40 | €101 | +€61 | +151% |
| Recurring financial income | 75 | €40 | €101 | +€61 | +151% |
| Financial charges | 65/66B | €1,071 | €930 | -€141 | -13.2% |
| Recurring financial charges | 65 | €1,071 | €930 | -€141 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €35,517 | €40,659 | +€5,142 | +14.5% |
| Income taxes | 67/77 | €9,233 | €10,410 | +€1,177 | +12.7% |
| Profit (loss) for the period | 9904 | €26,284 | €30,249 | +€3,965 | +15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,284 | €30,249 | +€3,965 | +15.1% |
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 28 October 2026 via checked.be.