Marc Reusen: 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 Reusen
Largest movements
- Receivables within one year +€8,733
up €8,733 (+8.2%), from €106,985 to €115,718
of which Other amounts receivable: +€13,733
- Cash +€5,701
up €5,701 (+29.9%), from €19,041 to €24,742
mainly Net result for the year (+€13,949) and Trade debts (+€1,081)
- Reserves +€13,949
up €13,949 (+34.6%), from €40,347 to €54,296
of which Distributable reserves: +€13,949
- Gross operating margin -€7,071
down €7,071 (-29.2%), from €24,192 to €17,122
- Taxes -€2,379
down €2,379 (-25.3%), from €9,413 to €7,034
- Other operating charges -€326
down €326 (-30.2%), from €1,080 to €754
- Financial charges -€283
down €283 (-59.1%), from €478 to €196
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 | €135,326 | €149,760 | +€14,434 | +10.7% |
| Fixed assets | 21/28 | €9,300 | €9,300 | = | 0.0% |
| Financial fixed assets | 28 | €9,300 | €9,300 | = | 0.0% |
| Current assets | 29/58 | €126,026 | €140,460 | +€14,434 | +11.5% |
| Amounts receivable within one year | 40/41 | €106,985 | €115,718 | +€8,733 | +8.2% |
| Trade receivables | 40 | €5,000 | - | -€5,000 | |
| Other amounts receivable | 41 | €101,985 | €115,718 | +€13,733 | +13.5% |
| Cash at bank and in hand | 54/58 | €19,041 | €24,742 | +€5,701 | +29.9% |
| Total equity and liabilities | 10/49 | €135,326 | €149,760 | +€14,434 | +10.7% |
| Equity | 10/15 | €114,895 | €128,844 | +€13,949 | +12.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €40,347 | €54,296 | +€13,949 | +34.6% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €37,347 | €51,296 | +€13,949 | +37.3% |
| Profit (loss) carried forward | 14 | €44,548 | €44,548 | = | 0.0% |
| Amounts payable | 17/49 | €20,431 | €20,916 | +€485 | +2.4% |
| Amounts payable within one year | 42/48 | €20,431 | €20,916 | +€485 | +2.4% |
| Trade debts | 44 | €1,600 | €2,681 | +€1,081 | +67.5% |
| Suppliers | 440/4 | €1,600 | €2,681 | +€1,081 | +67.5% |
| Taxes, remuneration and social security | 45 | €18,831 | €18,236 | -€595 | -3.2% |
| Taxes | 450/3 | €18,831 | €18,236 | -€595 | -3.2% |
| Other operating charges | 640/8 | €1,080 | €754 | -€326 | -30.2% |
| Gross operating margin | 9900 | €24,192 | €17,122 | -€7,071 | -29.2% |
| Operating profit (loss) | 9901 | €23,112 | €16,367 | -€6,745 | -29.2% |
| Financial income | 75/76B | €4,790 | €4,811 | +€21 | +0.4% |
| Recurring financial income | 75 | €4,790 | €4,811 | +€21 | +0.4% |
| Financial charges | 65/66B | €478 | €196 | -€283 | -59.1% |
| Recurring financial charges | 65 | €478 | €196 | -€283 | -59.1% |
| Profit (loss) for the period before taxes | 9903 | €27,424 | €20,982 | -€6,441 | -23.5% |
| Income taxes | 67/77 | €9,413 | €7,034 | -€2,379 | -25.3% |
| Profit (loss) for the period | 9904 | €18,011 | €13,949 | -€4,062 | -22.6% |
| Profit (loss) for the period to be appropriated | 9905 | €18,011 | €13,949 | -€4,062 | -22.6% |
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 26 October 2026 via checked.be.