Marc Van Audenrode: 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 Van Audenrode
Largest movements
- Cash +€254,068
up €254,068 (+84.2%), from €301,623 to €555,691
mainly Net result for the year (+€355,059) and Other debts (+€295,197)
- Current investments -€191,486
down €191,486 (-16.4%), from €1.2m to €973,292
- Reserves -€307,798
down €307,798 (-21.0%), from €1.5m to €1.2m
- Other debts +€295,197
up €295,197 (+11,985%), from €2,463 to €297,660
- Tax, wage and social debts +€75,004
up €75,004 (+312%), from €24,022 to €99,027
- Gross operating margin +€148,766
up €148,766 (+44.1%), from €337,608 to €486,374
- Taxes +€46,595
up €46,595 (+48.8%), from €95,574 to €142,169
- Financial income -€19,066
down €19,066 (-34.1%), from €55,961 to €36,895
- Financial charges -€12,174
down €12,174 (-41.5%), from €29,302 to €17,128
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 | €1,513,632 | €1,571,951 | +€58,319 | +3.9% |
| Fixed assets | 21/28 | €11,245 | €9,100 | -€2,145 | -19.1% |
| Tangible fixed assets | 22/27 | €11,245 | €9,100 | -€2,145 | -19.1% |
| Furniture and vehicles | 24 | €11,245 | €9,100 | -€2,145 | -19.1% |
| Current assets | 29/58 | €1,502,387 | €1,562,851 | +€60,464 | +4.0% |
| Amounts receivable within one year | 40/41 | €35,644 | €33,618 | -€2,025 | -5.7% |
| Trade receivables | 40 | €35,644 | €33,618 | -€2,025 | -5.7% |
| Current investments | 50/53 | €1,164,779 | €973,292 | -€191,486 | -16.4% |
| Cash at bank and in hand | 54/58 | €301,623 | €555,691 | +€254,068 | +84.2% |
| Deferred charges and accrued income | 490/1 | €342 | €250 | -€92 | -27.0% |
| Total equity and liabilities | 10/49 | €1,513,632 | €1,571,951 | +€58,319 | +3.9% |
| Equity | 10/15 | €1,480,503 | €1,172,705 | -€307,798 | -20.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,468,057 | €1,160,259 | -€307,798 | -21.0% |
| Distributable reserves | 133 | €1,468,057 | €1,160,259 | -€307,798 | -21.0% |
| Profit (loss) carried forward | 14 | €46 | €46 | = | 0.0% |
| Amounts payable | 17/49 | €33,129 | €399,246 | +€366,117 | +1,105% |
| Amounts payable within one year | 42/48 | €33,129 | €399,246 | +€366,117 | +1,105% |
| Trade debts | 44 | €6,644 | €2,560 | -€4,084 | -61.5% |
| Suppliers | 440/4 | €6,644 | €2,560 | -€4,084 | -61.5% |
| Taxes, remuneration and social security | 45 | €24,022 | €99,027 | +€75,004 | +312% |
| Taxes | 450/3 | €24,022 | €99,027 | +€75,004 | +312% |
| Other amounts payable | 47/48 | €2,463 | €297,660 | +€295,197 | +11,985% |
| Non-recurring operating income | 76A | €10,686 | €56,307 | +€45,622 | +427% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,198 | €3,872 | -€2,325 | -37.5% |
| Other operating charges | 640/8 | €968 | €3,236 | +€2,269 | +234% |
| Non-recurring operating charges | 66A | €67,216 | €1,805 | -€65,411 | -97.3% |
| Gross operating margin | 9900 | €337,608 | €486,374 | +€148,766 | +44.1% |
| Operating profit (loss) | 9901 | €263,227 | €477,461 | +€214,234 | +81.4% |
| Financial income | 75/76B | €55,961 | €36,895 | -€19,066 | -34.1% |
| Recurring financial income | 75 | €55,961 | €36,895 | -€19,066 | -34.1% |
| Financial charges | 65/66B | €29,302 | €17,128 | -€12,174 | -41.5% |
| Recurring financial charges | 65 | €29,302 | €17,128 | -€12,174 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | €289,886 | €497,228 | +€207,343 | +71.5% |
| Income taxes | 67/77 | €95,574 | €142,169 | +€46,595 | +48.8% |
| Profit (loss) for the period | 9904 | €194,312 | €355,059 | +€160,747 | +82.7% |
| Profit (loss) for the period to be appropriated | 9905 | €194,312 | €355,059 | +€160,747 | +82.7% |
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 23 October 2026 via checked.be.