MARCEL BIKE: 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.
MARCEL BIKE
Largest movements
- Stocks and contracts -€109,645
down €109,645 (-19.9%), from €551,440 to €441,795
- Receivables within one year +€39,016
up €39,016 (+82.9%), from €47,088 to €86,104
of which Other amounts receivable: +€31,008
- Cash +€35,540
up €35,540 (+4,262%), from €834 to €36,374
mainly Stocks and contracts (+€109,645) and Net result for the year (+€77,973)
- Debts after one year -€98,453
down €98,453 (-31.9%), from €308,395 to €209,942
- Profit (loss) carried forward +€77,973
up €77,973 (+93.6%), from -€83,309 to -€5,337
- Trade debts -€47,348
down €47,348 (-26.2%), from €180,417 to €133,069
- Other debts +€36,486
up €36,486 (+4.3%), from €848,830 to €885,316
- Gross operating margin +€29,494
up €29,494 (+24.8%), from €118,716 to €148,209
- Staff costs -€24,114
down €24,114 (-37.2%), from €64,792 to €40,678
- Financial charges -€15,674
down €15,674 (-62.3%), from €25,170 to €9,495
- Financial income +€2,615
up €2,615 (+127%), from €2,066 to €4,680
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 | €1,594,757 | €1,559,318 | -€35,440 | -2.2% |
| Fixed assets | 21/28 | €995,396 | €994,797 | -€599 | -0.1% |
| Tangible fixed assets | 22/27 | €4,753 | €4,154 | -€599 | -12.6% |
| Other tangible fixed assets | 26 | €4,753 | €4,154 | -€599 | -12.6% |
| Financial fixed assets | 28 | €990,643 | €990,643 | = | 0.0% |
| Current assets | 29/58 | €599,361 | €564,521 | -€34,841 | -5.8% |
| Stocks and contracts in progress | 3 | €551,440 | €441,795 | -€109,645 | -19.9% |
| Stocks | 30/36 | €551,440 | €441,795 | -€109,645 | -19.9% |
| Amounts receivable within one year | 40/41 | €47,088 | €86,104 | +€39,016 | +82.9% |
| Trade receivables | 40 | €47,088 | €55,096 | +€8,008 | +17.0% |
| Other amounts receivable | 41 | - | €31,008 | +€31,008 | |
| Cash at bank and in hand | 54/58 | €834 | €36,374 | +€35,540 | +4,262% |
| Deferred charges and accrued income | 490/1 | - | €248 | +€248 | |
| Total equity and liabilities | 10/49 | €1,594,757 | €1,559,318 | -€35,440 | -2.2% |
| Equity | 10/15 | €35,291 | €113,263 | +€77,973 | +221% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,309 | -€5,337 | +€77,973 | +93.6% |
| Amounts payable | 17/49 | €1,559,467 | €1,446,054 | -€113,412 | -7.3% |
| Amounts payable after more than one year | 17 | €308,395 | €209,942 | -€98,453 | -31.9% |
| Financial debts | 170/4 | €308,395 | €209,942 | -€98,453 | -31.9% |
| Amounts payable within one year | 42/48 | €1,251,072 | €1,236,113 | -€14,959 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €96,978 | €98,453 | +€1,475 | +1.5% |
| Financial debts | 43 | €99,107 | €103,011 | +€3,904 | +3.9% |
| Credit institutions | 430/8 | €99,107 | €103,011 | +€3,904 | +3.9% |
| Trade debts | 44 | €180,417 | €133,069 | -€47,348 | -26.2% |
| Suppliers | 440/4 | €180,417 | €133,069 | -€47,348 | -26.2% |
| Taxes, remuneration and social security | 45 | €25,740 | €16,264 | -€9,476 | -36.8% |
| Taxes | 450/3 | €16,948 | €9,360 | -€7,589 | -44.8% |
| Remuneration and social security | 454/9 | €8,792 | €6,905 | -€1,887 | -21.5% |
| Other amounts payable | 47/48 | €848,830 | €885,316 | +€36,486 | +4.3% |
| Remuneration, social security and pensions | 62 | €64,792 | €40,678 | -€24,114 | -37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €599 | €599 | = | 0.0% |
| Other operating charges | 640/8 | €512 | €0 | -€512 | -100% |
| Non-recurring operating charges | 66A | - | €24,145 | +€24,145 | |
| Gross operating margin | 9900 | €118,716 | €148,209 | +€29,494 | +24.8% |
| Operating profit (loss) | 9901 | €52,813 | €82,787 | +€29,975 | +56.8% |
| Financial income | 75/76B | €2,066 | €4,680 | +€2,615 | +127% |
| Recurring financial income | 75 | €2,066 | €4,680 | +€2,615 | +127% |
| Financial charges | 65/66B | €25,170 | €9,495 | -€15,674 | -62.3% |
| Recurring financial charges | 65 | €25,170 | €9,495 | -€15,674 | -62.3% |
| Profit (loss) for the period before taxes | 9903 | €29,709 | €77,973 | +€48,264 | +162% |
| Profit (loss) for the period | 9904 | €29,709 | €77,973 | +€48,264 | +162% |
| Profit (loss) for the period to be appropriated | 9905 | €29,709 | €77,973 | +€48,264 | +162% |
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 25 October 2026 via checked.be.