MARC LEDENT: 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 LEDENT
Largest movements
- Cash +€117,358
up €117,358 (+650.8%), from €18,034 to €135,392
mainly Receivables within one year (+€94,398) and Depreciation (+€29,619)
- Receivables within one year -€94,398
down €94,398 (-13.7%), from €686,687 to €592,289
of which Trade receivables: -€86,032
- Tangible fixed assets -€29,619
down €29,619 (-27.9%), from €106,245 to €76,626
of which Leasing and similar rights: -€29,756
- Trade debts -€49,255
down €49,255 (-66.7%), from €73,874 to €24,619
- Debts after one year +€17,504
new in 2024: €17,504
- Current portion of long-term debt +€10,328
up €10,328 (+91.9%), from €11,237 to €21,565
- Other debts +€9,100
up €9,100 (+108.3%), from €8,400 to €17,500
- Staff costs -€53,458
down €53,458 (-9.2%), from €578,456 to €524,998
- Gross operating margin -€26,297
down €26,297 (-4.2%), from €618,772 to €592,475
- Depreciation +€7,931
up €7,931 (+36.6%), from €21,688 to €29,619
- Taxes +€6,648
up €6,648 (+148.9%), from €4,465 to €11,113
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €820,090 | €816,411 | -€3,679 | -0.4% |
| Fixed assets | 21/28 | €107,490 | €77,871 | -€29,619 | -27.6% |
| Tangible fixed assets | 22/27 | €106,245 | €76,626 | -€29,619 | -27.9% |
| Land and buildings | 22 | €1,196 | €654 | -€542 | -45.3% |
| Plant, machinery and equipment | 23 | €9,965 | €5,851 | -€4,114 | -41.3% |
| Furniture and vehicles | 24 | €65,328 | €70,121 | +€4,793 | +7.3% |
| Leasing and similar rights | 25 | €29,756 | - | -€29,756 | |
| Financial fixed assets | 28 | €1,245 | €1,245 | = | 0.0% |
| Current assets | 29/58 | €712,600 | €738,540 | +€25,940 | +3.6% |
| Stocks and contracts in progress | 3 | €2,710 | €2,527 | -€183 | -6.8% |
| Stocks | 30/36 | €2,710 | €2,527 | -€183 | -6.8% |
| Amounts receivable within one year | 40/41 | €686,687 | €592,289 | -€94,398 | -13.7% |
| Trade receivables | 40 | €611,399 | €525,367 | -€86,032 | -14.1% |
| Other amounts receivable | 41 | €75,288 | €66,922 | -€8,366 | -11.1% |
| Cash at bank and in hand | 54/58 | €18,034 | €135,392 | +€117,358 | +650.8% |
| Deferred charges and accrued income | 490/1 | €5,169 | €8,332 | +€3,163 | +61.2% |
| Total equity and liabilities | 10/49 | €820,090 | €816,411 | -€3,679 | -0.4% |
| Equity | 10/15 | €685,130 | €687,662 | +€2,532 | +0.4% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €677,074 | €679,606 | +€2,532 | +0.4% |
| Amounts payable | 17/49 | €134,960 | €128,749 | -€6,211 | -4.6% |
| Amounts payable after more than one year | 17 | - | €17,504 | +€17,504 | |
| Financial debts | 170/4 | - | €17,504 | +€17,504 | |
| Amounts payable within one year | 42/48 | €134,960 | €111,245 | -€23,715 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €11,237 | €21,565 | +€10,328 | +91.9% |
| Trade debts | 44 | €73,874 | €24,619 | -€49,255 | -66.7% |
| Suppliers | 440/4 | €73,874 | €24,619 | -€49,255 | -66.7% |
| Taxes, remuneration and social security | 45 | €41,449 | €47,561 | +€6,112 | +14.7% |
| Taxes | 450/3 | €41,449 | €18,552 | -€22,897 | -55.2% |
| Remuneration and social security | 454/9 | - | €29,009 | +€29,009 | |
| Other amounts payable | 47/48 | €8,400 | €17,500 | +€9,100 | +108.3% |
| Remuneration, social security and pensions | 62 | €578,456 | €524,998 | -€53,458 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,688 | €29,619 | +€7,931 | +36.6% |
| Other operating charges | 640/8 | €1,461 | €1,525 | +€64 | +4.4% |
| Gross operating margin | 9900 | €618,772 | €592,475 | -€26,297 | -4.2% |
| Operating profit (loss) | 9901 | €17,167 | €36,333 | +€19,166 | +111.6% |
| Financial income | 75/76B | €2,570 | €4,343 | +€1,773 | +69.0% |
| Recurring financial income | 75 | €2,570 | €4,343 | +€1,773 | +69.0% |
| Financial charges | 65/66B | €1,684 | €2,031 | +€347 | +20.6% |
| Recurring financial charges | 65 | €1,684 | €2,031 | +€347 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | €18,053 | €38,645 | +€20,592 | +114.1% |
| Income taxes | 67/77 | €4,465 | €11,113 | +€6,648 | +148.9% |
| Profit (loss) for the period | 9904 | €13,588 | €27,532 | +€13,944 | +102.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,588 | €27,532 | +€13,944 | +102.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.