MARC SALENS: 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 SALENS
Largest movements
- Cash -€5,985
down €5,985 (-49.8%), from €12,025 to €6,040
mainly Contributions, distributions and other (-€38,256) and Tax, wage and social debts (-€14,165)
- Receivables within one year -€4,984
down €4,984 (-3.2%), from €155,898 to €150,914
of which Trade receivables: -€11,195
- Tangible fixed assets -€4,021
down €4,021 (-30.2%), from €13,334 to €9,313
of which Furniture and vehicles: -€4,021
- Reserves -€27,390
down €27,390 (-22.4%), from €122,440 to €95,050
- Other debts +€24,920
up €24,920 (+181%), from €13,759 to €38,679
- Tax, wage and social debts -€14,165
down €14,165 (-38.9%), from €36,401 to €22,236
- Gross operating margin -€40,260
down €40,260 (-68.6%), from €58,708 to €18,448
- Taxes -€15,926
down €15,926 (-60.5%), from €26,306 to €10,380
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 | €181,583 | €166,603 | -€14,980 | -8.2% |
| Fixed assets | 21/28 | €13,334 | €9,313 | -€4,021 | -30.2% |
| Tangible fixed assets | 22/27 | €13,334 | €9,313 | -€4,021 | -30.2% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €13,334 | €9,313 | -€4,021 | -30.2% |
| Current assets | 29/58 | €168,249 | €157,290 | -€10,959 | -6.5% |
| Amounts receivable within one year | 40/41 | €155,898 | €150,914 | -€4,984 | -3.2% |
| Trade receivables | 40 | €28,624 | €17,429 | -€11,195 | -39.1% |
| Other amounts receivable | 41 | €127,274 | €133,485 | +€6,211 | +4.9% |
| Cash at bank and in hand | 54/58 | €12,025 | €6,040 | -€5,985 | -49.8% |
| Deferred charges and accrued income | 490/1 | €326 | €336 | +€10 | +2.9% |
| Total equity and liabilities | 10/49 | €181,583 | €166,603 | -€14,980 | -8.2% |
| Equity | 10/15 | €128,640 | €101,250 | -€27,390 | -21.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €122,440 | €95,050 | -€27,390 | -22.4% |
| Distributable reserves | 133 | €122,440 | €95,050 | -€27,390 | -22.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €52,943 | €65,353 | +€12,410 | +23.4% |
| Amounts payable within one year | 42/48 | €52,943 | €65,353 | +€12,410 | +23.4% |
| Financial debts | 43 | €1,296 | €1,392 | +€95 | +7.4% |
| Credit institutions | 430/8 | €1,296 | €1,392 | +€95 | +7.4% |
| Trade debts | 44 | €1,487 | €3,046 | +€1,559 | +105% |
| Suppliers | 440/4 | €1,487 | €3,046 | +€1,559 | +105% |
| Taxes, remuneration and social security | 45 | €36,401 | €22,236 | -€14,165 | -38.9% |
| Taxes | 450/3 | €36,401 | €22,236 | -€14,165 | -38.9% |
| Other amounts payable | 47/48 | €13,759 | €38,679 | +€24,920 | +181% |
| Remuneration, social security and pensions | 62 | €194 | €138 | -€56 | -28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,159 | €2,946 | -€212 | -6.7% |
| Other operating charges | 640/8 | €858 | €1,321 | +€462 | +53.9% |
| Non-recurring operating charges | 66A | - | €103 | +€103 | |
| Gross operating margin | 9900 | €58,708 | €18,448 | -€40,260 | -68.6% |
| Operating profit (loss) | 9901 | €54,497 | €13,940 | -€40,557 | -74.4% |
| Financial income | 75/76B | €7,584 | €7,596 | +€12 | +0.2% |
| Recurring financial income | 75 | €7,584 | €7,596 | +€12 | +0.2% |
| Financial charges | 65/66B | €401 | €290 | -€111 | -27.8% |
| Recurring financial charges | 65 | €401 | €290 | -€111 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | €61,679 | €21,245 | -€40,434 | -65.6% |
| Income taxes | 67/77 | €26,306 | €10,380 | -€15,926 | -60.5% |
| Profit (loss) for the period | 9904 | €35,373 | €10,866 | -€24,507 | -69.3% |
| Profit (loss) for the period to be appropriated | 9905 | €35,373 | €10,866 | -€24,507 | -69.3% |
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.