Marc Steyaert: 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 Steyaert
Largest movements
- Tangible fixed assets -€57,968
down €57,968 (-10.7%), from €543,488 to €485,520
of which Land and buildings: -€43,110
- Cash +€10,845
new in 2024: €10,845
mainly Other debts (+€72,018) and Depreciation (+€62,810)
- Financial fixed assets -€10,274
down €10,274 (-100%), from €10,274 to €0
- Receivables within one year -€7,545
down €7,545 (-37.3%), from €20,202 to €12,657
of which Other amounts receivable: -€10,595
- Profit (loss) carried forward -€109,941
down €109,941 (-78.0%), from -€140,895 to -€250,836
- Other debts +€72,018
up €72,018 (+79.9%), from €90,102 to €162,121
- Current portion of long-term debt -€37,558
down €37,558 (-85.2%), from €44,075 to €6,517
- Gross operating margin +€37,899
up €37,899 (+60.1%), from -€63,050 to -€25,151
- Depreciation -€1,823
down €1,823 (-2.8%), from €64,633 to €62,810
- Financial charges -€1,038
down €1,038 (-9.9%), from €10,511 to €9,472
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.
Derived cash bridge
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 | €574,405 | €509,084 | -€65,322 | -11.4% |
| Fixed assets | 21/28 | €553,763 | €485,520 | -€68,243 | -12.3% |
| Tangible fixed assets | 22/27 | €543,488 | €485,520 | -€57,968 | -10.7% |
| Land and buildings | 22 | €476,100 | €432,990 | -€43,110 | -9.1% |
| Plant, machinery and equipment | 23 | €2,254 | €3,168 | +€914 | +40.6% |
| Furniture and vehicles | 24 | €63,022 | €47,960 | -€15,062 | -23.9% |
| Leasing and similar rights | 25 | €2,113 | €1,403 | -€710 | -33.6% |
| Financial fixed assets | 28 | €10,274 | €0 | -€10,274 | -100% |
| Current assets | 29/58 | €20,643 | €23,564 | +€2,921 | +14.2% |
| Amounts receivable within one year | 40/41 | €20,202 | €12,657 | -€7,545 | -37.3% |
| Trade receivables | 40 | €9,607 | €12,657 | +€3,050 | +31.7% |
| Other amounts receivable | 41 | €10,595 | €0 | -€10,595 | -100.0% |
| Cash at bank and in hand | 54/58 | - | €10,845 | +€10,845 | |
| Deferred charges and accrued income | 490/1 | €441 | €62 | -€379 | -86.0% |
| Total equity and liabilities | 10/49 | €574,405 | €509,084 | -€65,322 | -11.4% |
| Equity | 10/15 | €144,667 | €37,446 | -€107,222 | -74.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €235,562 | €238,282 | +€2,720 | +1.2% |
| Distributable reserves | 133 | €235,562 | €238,282 | +€2,720 | +1.2% |
| Profit (loss) carried forward | 14 | -€140,895 | -€250,836 | -€109,941 | -78.0% |
| Amounts payable | 17/49 | €429,738 | €471,638 | +€41,900 | +9.8% |
| Amounts payable after more than one year | 17 | €288,510 | €288,510 | = | 0.0% |
| Financial debts | 170/4 | €288,510 | €288,510 | = | 0.0% |
| Amounts payable within one year | 42/48 | €141,228 | €183,128 | +€41,900 | +29.7% |
| Current portion of amounts payable after more than one year | 42 | €44,075 | €6,517 | -€37,558 | -85.2% |
| Trade debts | 44 | €6,211 | €10,094 | +€3,883 | +62.5% |
| Suppliers | 440/4 | €6,211 | €10,094 | +€3,883 | +62.5% |
| Taxes, remuneration and social security | 45 | €839 | €4,396 | +€3,557 | +424% |
| Taxes | 450/3 | €839 | €1,500 | +€661 | +78.7% |
| Remuneration and social security | 454/9 | - | €2,896 | +€2,896 | |
| Other amounts payable | 47/48 | €90,102 | €162,121 | +€72,018 | +79.9% |
| Non-recurring operating income | 76A | €24,886 | €43,281 | +€18,395 | +73.9% |
| Remuneration, social security and pensions | 62 | - | €226 | +€226 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,633 | €62,810 | -€1,823 | -2.8% |
| Other operating charges | 640/8 | €2,118 | €2,008 | -€110 | -5.2% |
| Non-recurring operating charges | 66A | - | €10,274 | +€10,274 | |
| Gross operating margin | 9900 | -€63,050 | -€25,151 | +€37,899 | +60.1% |
| Operating profit (loss) | 9901 | -€129,802 | -€100,469 | +€29,332 | +22.6% |
| Financial income | 75/76B | €1 | €0 | -€0 | -46.7% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -46.7% |
| Financial charges | 65/66B | €10,511 | €9,472 | -€1,038 | -9.9% |
| Recurring financial charges | 65 | €10,511 | €9,472 | -€1,038 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | -€140,311 | -€109,941 | +€30,370 | +21.6% |
| Income taxes | 67/77 | €584 | €0 | -€584 | -100% |
| Profit (loss) for the period | 9904 | -€140,895 | -€109,941 | +€30,954 | +22.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€140,895 | -€109,941 | +€30,954 | +22.0% |
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 22 October 2026 via checked.be.