MARC MASSAGE: 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 MASSAGE
Largest movements
- Tangible fixed assets -€21,453
down €21,453 (-36.2%), from €59,270 to €37,817
of which Furniture and vehicles: -€20,770
- Receivables within one year -€10,699
down €10,699 (-68.0%), from €15,736 to €5,036
of which Trade receivables: -€10,061
- Cash -€4,615
down €4,615 (-18.5%), from €24,917 to €20,301
mainly Net result for the year (-€28,042) and Other debts (-€8,739)
- Deferred charges and accrued income +€1,447
up €1,447 (+47.2%), from €3,068 to €4,515
- Profit (loss) carried forward -€28,042
down €28,042, from €0 to -€28,042
- Other debts -€8,739
down €8,739 (-31.4%), from €27,790 to €19,052
- Trade debts +€1,461
up €1,461 (+70.0%), from €2,086 to €3,547
- Gross operating margin -€51,239
down €51,239, from €46,616 to -€4,623
- Taxes -€2,821
down €2,821 (-71.8%), from €3,930 to €1,110
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 | €103,140 | €67,819 | -€35,320 | -34.2% |
| Fixed assets | 21/28 | €59,420 | €37,967 | -€21,453 | -36.1% |
| Tangible fixed assets | 22/27 | €59,270 | €37,817 | -€21,453 | -36.2% |
| Plant, machinery and equipment | 23 | €264 | €32 | -€233 | -88.0% |
| Furniture and vehicles | 24 | €56,260 | €35,490 | -€20,770 | -36.9% |
| Other tangible fixed assets | 26 | €2,746 | €2,296 | -€450 | -16.4% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €43,720 | €29,852 | -€13,868 | -31.7% |
| Amounts receivable within one year | 40/41 | €15,736 | €5,036 | -€10,699 | -68.0% |
| Trade receivables | 40 | €10,061 | €0 | -€10,061 | -100% |
| Other amounts receivable | 41 | €5,675 | €5,036 | -€639 | -11.3% |
| Cash at bank and in hand | 54/58 | €24,917 | €20,301 | -€4,615 | -18.5% |
| Deferred charges and accrued income | 490/1 | €3,068 | €4,515 | +€1,447 | +47.2% |
| Total equity and liabilities | 10/49 | €103,140 | €67,819 | -€35,320 | -34.2% |
| Equity | 10/15 | €73,263 | €45,221 | -€28,042 | -38.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €60,863 | €60,863 | = | 0.0% |
| Distributable reserves | 133 | €60,863 | €60,863 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€28,042 | -€28,042 | |
| Amounts payable | 17/49 | €29,877 | €22,599 | -€7,278 | -24.4% |
| Amounts payable within one year | 42/48 | €29,877 | €22,599 | -€7,278 | -24.4% |
| Trade debts | 44 | €2,086 | €3,547 | +€1,461 | +70.0% |
| Suppliers | 440/4 | €2,086 | €3,547 | +€1,461 | +70.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €27,790 | €19,052 | -€8,739 | -31.4% |
| Non-recurring operating income | 76A | €31,000 | €0 | -€31,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,141 | €21,453 | +€311 | +1.5% |
| Other operating charges | 640/8 | €1,056 | €630 | -€426 | -40.4% |
| Non-recurring operating charges | 66A | €9,993 | €0 | -€9,993 | -100% |
| Gross operating margin | 9900 | €46,616 | -€4,623 | -€51,239 | |
| Operating profit (loss) | 9901 | €14,425 | -€26,705 | -€41,131 | |
| Financial income | 75/76B | €149 | €54 | -€95 | -64.0% |
| Recurring financial income | 75 | €149 | €54 | -€95 | -64.0% |
| Financial charges | 65/66B | €172 | €281 | +€109 | +63.4% |
| Recurring financial charges | 65 | €172 | €281 | +€109 | +63.4% |
| Profit (loss) for the period before taxes | 9903 | €14,402 | -€26,933 | -€41,335 | |
| Income taxes | 67/77 | €3,930 | €1,110 | -€2,821 | -71.8% |
| Profit (loss) for the period | 9904 | €10,472 | -€28,042 | -€38,514 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,472 | -€28,042 | -€38,514 |
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 21 October 2026 via checked.be.