MARC TREMBLEZ: 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 TREMBLEZ
Largest movements
- Cash +€58,008
up €58,008 (+14.2%), from €409,354 to €467,362
mainly Net result for the year (+€58,271) and Receivables within one year (+€6,491)
- Receivables within one year -€6,491
down €6,491 (-40.5%), from €16,035 to €9,544
of which Trade receivables: -€6,577
- Reserves +€58,271
up €58,271 (+36.3%), from €160,402 to €218,673
of which Distributable reserves: +€58,271
- Current portion of long-term debt -€6,094
no longer reported in 2025 (was €6,094)
- Gross operating margin +€6,434
up €6,434 (+8.7%), from €73,816 to €80,250
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 | €432,095 | €480,835 | +€48,739 | +11.3% |
| Fixed assets | 21/28 | €265 | €160 | -€105 | -39.6% |
| Tangible fixed assets | 22/27 | €105 | - | -€105 | |
| Furniture and vehicles | 24 | €105 | - | -€105 | |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €431,831 | €480,675 | +€48,844 | +11.3% |
| Stocks and contracts in progress | 3 | €4,845 | €2,128 | -€2,716 | -56.1% |
| Stocks | 30/36 | €4,845 | €2,128 | -€2,716 | -56.1% |
| Amounts receivable within one year | 40/41 | €16,035 | €9,544 | -€6,491 | -40.5% |
| Trade receivables | 40 | €14,110 | €7,533 | -€6,577 | -46.6% |
| Other amounts receivable | 41 | €1,924 | €2,011 | +€86 | +4.5% |
| Cash at bank and in hand | 54/58 | €409,354 | €467,362 | +€58,008 | +14.2% |
| Deferred charges and accrued income | 490/1 | €1,597 | €1,641 | +€44 | +2.7% |
| Total equity and liabilities | 10/49 | €432,095 | €480,835 | +€48,739 | +11.3% |
| Equity | 10/15 | €278,345 | €336,616 | +€58,271 | +20.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €160,402 | €218,673 | +€58,271 | +36.3% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €158,547 | €216,818 | +€58,271 | +36.8% |
| Profit (loss) carried forward | 14 | €99,393 | €99,393 | = | 0.0% |
| Amounts payable | 17/49 | €153,750 | €144,218 | -€9,532 | -6.2% |
| Amounts payable within one year | 42/48 | €153,750 | €144,218 | -€9,532 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €6,094 | - | -€6,094 | |
| Trade debts | 44 | €9,213 | €9,474 | +€261 | +2.8% |
| Suppliers | 440/4 | €9,213 | €9,474 | +€261 | +2.8% |
| Taxes, remuneration and social security | 45 | €16,826 | €13,761 | -€3,065 | -18.2% |
| Taxes | 450/3 | €16,826 | €12,511 | -€4,315 | -25.6% |
| Remuneration and social security | 454/9 | - | €1,250 | +€1,250 | |
| Other amounts payable | 47/48 | €121,617 | €120,984 | -€633 | -0.5% |
| Remuneration, social security and pensions | 62 | -€614 | - | +€614 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103 | €105 | +€2 | +1.7% |
| Other operating charges | 640/8 | €295 | €329 | +€34 | +11.6% |
| Gross operating margin | 9900 | €73,816 | €80,250 | +€6,434 | +8.7% |
| Operating profit (loss) | 9901 | €74,032 | €79,817 | +€5,785 | +7.8% |
| Financial income | 75/76B | €3,818 | €3,818 | +€1 | 0.0% |
| Recurring financial income | 75 | €3,818 | €3,818 | +€1 | 0.0% |
| Financial charges | 65/66B | €610 | €471 | -€139 | -22.7% |
| Recurring financial charges | 65 | €610 | €471 | -€139 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €77,240 | €83,164 | +€5,924 | +7.7% |
| Income taxes | 67/77 | €25,323 | €24,893 | -€431 | -1.7% |
| Profit (loss) for the period | 9904 | €51,917 | €58,271 | +€6,355 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €51,917 | €58,271 | +€6,355 | +12.2% |
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 19 October 2026 via checked.be.