Marc VL: 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 VL
Largest movements
- Cash +€14,079
up €14,079 (+3,049%), from €462 to €14,541
mainly Other debts (+€49,436) and Net result for the year (+€21,006)
- Tangible fixed assets -€11,349
down €11,349 (-19.2%), from €59,053 to €47,705
of which Land and buildings: -€12,152
- Receivables within one year +€6,677
up €6,677 (+8.1%), from €82,732 to €89,408
of which Other amounts receivable: +€9,575
- Other debts +€49,436
new in 2025: €49,436
- Reserves -€28,430
down €28,430 (-57.5%), from €49,436 to €21,006
of which Distributable reserves: -€26,570
- Current portion of long-term debt -€11,057
down €11,057 (-100%), from €11,057 to €0
- Short-term financial debts -€10,785
down €10,785 (-100%), from €10,785 to €0
- Tax, wage and social debts +€5,936
up €5,936 (+58.0%), from €10,239 to €16,174
- Financial income +€4,538
new in 2025: €4,538
- Taxes +€2,285
up €2,285 (+29.7%), from €7,694 to €9,980
- Other operating charges +€1,514
up €1,514 (+97.3%), from €1,557 to €3,070
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 | €144,909 | €153,971 | +€9,062 | +6.3% |
| Fixed assets | 21/28 | €59,053 | €47,705 | -€11,349 | -19.2% |
| Tangible fixed assets | 22/27 | €59,053 | €47,705 | -€11,349 | -19.2% |
| Land and buildings | 22 | €57,722 | €45,570 | -€12,152 | -21.1% |
| Plant, machinery and equipment | 23 | €247 | €1,515 | +€1,269 | +515% |
| Furniture and vehicles | 24 | €1,085 | €619 | -€465 | -42.9% |
| Current assets | 29/58 | €85,856 | €106,267 | +€20,411 | +23.8% |
| Amounts receivable within one year | 40/41 | €82,732 | €89,408 | +€6,677 | +8.1% |
| Trade receivables | 40 | €2,898 | €0 | -€2,898 | -100% |
| Other amounts receivable | 41 | €79,834 | €89,408 | +€9,575 | +12.0% |
| Cash at bank and in hand | 54/58 | €462 | €14,541 | +€14,079 | +3,049% |
| Deferred charges and accrued income | 490/1 | €2,662 | €2,317 | -€345 | -13.0% |
| Total equity and liabilities | 10/49 | €144,909 | €153,971 | +€9,062 | +6.3% |
| Equity | 10/15 | €112,829 | €84,399 | -€28,430 | -25.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €49,436 | €21,006 | -€28,430 | -57.5% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Distributable reserves | 133 | €47,576 | €21,006 | -€26,570 | -55.8% |
| Profit (loss) carried forward | 14 | €44,792 | €44,792 | = | 0.0% |
| Amounts payable | 17/49 | €32,081 | €69,572 | +€37,492 | +117% |
| Amounts payable within one year | 42/48 | €32,081 | €69,572 | +€37,492 | +117% |
| Current portion of amounts payable after more than one year | 42 | €11,057 | €0 | -€11,057 | -100% |
| Financial debts | 43 | €10,785 | €0 | -€10,785 | -100% |
| Credit institutions | 430/8 | €10,785 | €0 | -€10,785 | -100% |
| Trade debts | 44 | - | €3,962 | +€3,962 | |
| Suppliers | 440/4 | - | €3,962 | +€3,962 | |
| Taxes, remuneration and social security | 45 | €10,239 | €16,174 | +€5,936 | +58.0% |
| Taxes | 450/3 | €10,239 | €16,174 | +€5,936 | +58.0% |
| Other amounts payable | 47/48 | - | €49,436 | +€49,436 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,755 | €12,752 | -€3 | 0.0% |
| Other operating charges | 640/8 | €1,557 | €3,070 | +€1,514 | +97.3% |
| Gross operating margin | 9900 | €43,550 | €43,397 | -€152 | -0.4% |
| Operating profit (loss) | 9901 | €29,238 | €27,575 | -€1,664 | -5.7% |
| Financial income | 75/76B | - | €4,538 | +€4,538 | |
| Recurring financial income | 75 | - | €4,538 | +€4,538 | |
| Financial charges | 65/66B | €1,108 | €1,127 | +€19 | +1.7% |
| Recurring financial charges | 65 | €1,108 | €1,127 | +€19 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €28,130 | €30,986 | +€2,856 | +10.2% |
| Income taxes | 67/77 | €7,694 | €9,980 | +€2,285 | +29.7% |
| Profit (loss) for the period | 9904 | €20,436 | €21,006 | +€571 | +2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €20,436 | €21,006 | +€571 | +2.8% |
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.