MARCEL BIEBAU: what changed
Two fiscal 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.
MARCEL BIEBAU
Largest movements
- Deferred charges and accrued income -€71,813
no longer reported in 2025 (was €71,813)
- Cash +€17,317
up €17,317 (+53.1%), from €32,626 to €49,943
mainly Debts after one year (+€320,000) and Deferred charges and accrued income (+€71,813)
- Receivables within one year +€14,363
up €14,363 (+2.6%), from €553,131 to €567,494
- Other debts -€362,862
down €362,862 (-90.1%), from €402,955 to €40,093
- Debts after one year +€320,000
new in 2025: €320,000
- Gross operating margin -€62,519
down €62,519 (-59.5%), from €104,986 to €42,467
- Financial charges -€7,528
down €7,528 (-24.9%), from €30,275 to €22,747
- Taxes -€7,316
down €7,316 (-64.6%), from €11,317 to €4,001
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 | €756,728 | €712,497 | -€44,230 | -5.8% |
| Fixed assets | 21/28 | €99,157 | €95,061 | -€4,097 | -4.1% |
| Tangible fixed assets | 22/27 | €99,157 | €95,061 | -€4,097 | -4.1% |
| Land and buildings | 22 | €99,157 | €95,061 | -€4,097 | -4.1% |
| Current assets | 29/58 | €657,570 | €617,437 | -€40,133 | -6.1% |
| Amounts receivable within one year | 40/41 | €553,131 | €567,494 | +€14,363 | +2.6% |
| Other amounts receivable | 41 | €553,131 | €567,494 | +€14,363 | +2.6% |
| Cash at bank and in hand | 54/58 | €32,626 | €49,943 | +€17,317 | +53.1% |
| Deferred charges and accrued income | 490/1 | €71,813 | - | -€71,813 | |
| Total equity and liabilities | 10/49 | €756,728 | €712,497 | -€44,230 | -5.8% |
| Equity | 10/15 | €322,499 | €329,497 | +€6,998 | +2.2% |
| Contributions | 10/11 | €142,001 | €142,001 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Outside capital | 11 | €17,001 | €17,001 | = | 0.0% |
| Share premium | 1100/10 | €17,001 | €17,001 | = | 0.0% |
| Reserves | 13 | €180,498 | €187,496 | +€6,998 | +3.9% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €167,998 | €174,996 | +€6,998 | +4.2% |
| Amounts payable | 17/49 | €434,229 | €383,000 | -€51,229 | -11.8% |
| Amounts payable after more than one year | 17 | - | €320,000 | +€320,000 | |
| Financial debts | 170/4 | - | €320,000 | +€320,000 | |
| Amounts payable within one year | 42/48 | €404,145 | €40,406 | -€363,739 | -90.0% |
| Trade debts | 44 | €1,190 | €313 | -€877 | -73.7% |
| Suppliers | 440/4 | €1,190 | €313 | -€877 | -73.7% |
| Other amounts payable | 47/48 | €402,955 | €40,093 | -€362,862 | -90.1% |
| Accrued charges and deferred income | 492/3 | €30,083 | €22,594 | -€7,490 | -24.9% |
| Non-recurring operating income | 76A | €64,903 | - | -€64,903 | |
| Other operating charges | 640/8 | €7,487 | €7,720 | +€233 | +3.1% |
| Gross operating margin | 9900 | €104,986 | €42,467 | -€62,519 | -59.5% |
| Operating profit (loss) | 9901 | €97,499 | €34,747 | -€62,752 | -64.4% |
| Financial charges | 65/66B | €30,275 | €22,747 | -€7,528 | -24.9% |
| Recurring financial charges | 65 | €30,275 | €22,747 | -€7,528 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €67,224 | €12,000 | -€55,224 | -82.1% |
| Income taxes | 67/77 | €11,317 | €4,001 | -€7,316 | -64.6% |
| Profit (loss) for the period | 9904 | €55,907 | €7,998 | -€47,908 | -85.7% |
| Profit (loss) for the period to be appropriated | 9905 | €55,907 | €7,998 | -€47,908 | -85.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.