MARCAT: 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.
MARCAT
Largest movements
- Cash +€76,697
up €76,697 (+54.1%), from €141,854 to €218,551
mainly Net result for the year (+€151,083) and Current investments (+€15,854)
- Current investments -€15,854
down €15,854 (-7.3%), from €218,009 to €202,154
- Reserves +€40,000
up €40,000 (+8.7%), from €460,000 to €500,000
- Other debts +€10,000
up €10,000 (+3.3%), from €300,000 to €310,000
- Tax, wage and social debts +€8,398
up €8,398 (+154.1%), from €5,449 to €13,847
- Financial charges +€18,021
up €18,021 (+41.1%), from €43,798 to €61,819
- Taxes +€6,196
up €6,196 (+39.0%), from €15,887 to €22,083
- Financial income -€3,643
down €3,643 (-2.3%), from €156,315 to €152,672
- Gross operating margin +€2,978
up €2,978 (+3.6%), from €83,722 to €86,700
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.
Cash bridge derived
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 | €772,639 | €832,121 | +€59,482 | +7.7% |
| Fixed assets | 21/28 | €408,427 | €404,731 | -€3,696 | -0.9% |
| Tangible fixed assets | 22/27 | €8,380 | €4,684 | -€3,696 | -44.1% |
| Furniture and vehicles | 24 | €8,380 | €4,684 | -€3,696 | -44.1% |
| Financial fixed assets | 28 | €400,047 | €400,047 | = | 0.0% |
| Current assets | 29/58 | €364,212 | €427,390 | +€63,178 | +17.3% |
| Amounts receivable within one year | 40/41 | €3,492 | €5,077 | +€1,585 | +45.4% |
| Trade receivables | 40 | €2,562 | €5,077 | +€2,515 | +98.1% |
| Other amounts receivable | 41 | €930 | - | -€930 | |
| Current investments | 50/53 | €218,009 | €202,154 | -€15,854 | -7.3% |
| Cash at bank and in hand | 54/58 | €141,854 | €218,551 | +€76,697 | +54.1% |
| Deferred charges and accrued income | 490/1 | €858 | €1,607 | +€750 | +87.5% |
| Total equity and liabilities | 10/49 | €772,639 | €832,121 | +€59,482 | +7.7% |
| Equity | 10/15 | €467,061 | €508,144 | +€41,083 | +8.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €460,000 | €500,000 | +€40,000 | +8.7% |
| Distributable reserves | 133 | €460,000 | €500,000 | +€40,000 | +8.7% |
| Profit (loss) carried forward | 14 | €2,061 | €3,144 | +€1,083 | +52.5% |
| Amounts payable | 17/49 | €305,578 | €323,977 | +€18,399 | +6.0% |
| Amounts payable within one year | 42/48 | €305,578 | €323,977 | +€18,399 | +6.0% |
| Trade debts | 44 | €129 | €130 | +€1 | +0.5% |
| Suppliers | 440/4 | €129 | €130 | +€1 | +0.5% |
| Taxes, remuneration and social security | 45 | €5,449 | €13,847 | +€8,398 | +154.1% |
| Taxes | 450/3 | €5,449 | €13,847 | +€8,398 | +154.1% |
| Other amounts payable | 47/48 | €300,000 | €310,000 | +€10,000 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,818 | €3,696 | -€122 | -3.2% |
| Other operating charges | 640/8 | €618 | €691 | +€73 | +11.8% |
| Gross operating margin | 9900 | €83,722 | €86,700 | +€2,978 | +3.6% |
| Operating profit (loss) | 9901 | €79,285 | €82,313 | +€3,028 | +3.8% |
| Financial income | 75/76B | €156,315 | €152,672 | -€3,643 | -2.3% |
| Recurring financial income | 75 | €156,315 | €152,672 | -€3,643 | -2.3% |
| Financial charges | 65/66B | €43,798 | €61,819 | +€18,021 | +41.1% |
| Recurring financial charges | 65 | €43,798 | €61,819 | +€18,021 | +41.1% |
| Profit (loss) for the period before taxes | 9903 | €191,803 | €173,165 | -€18,637 | -9.7% |
| Income taxes | 67/77 | €15,887 | €22,083 | +€6,196 | +39.0% |
| Profit (loss) for the period | 9904 | €175,916 | €151,083 | -€24,833 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €175,916 | €151,083 | -€24,833 | -14.1% |
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 12 October 2026 via checked.be.