MARCEL & C°: 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 & C°
Largest movements
- Receivables within one year +€186,350
up €186,350 (+63.6%), from €293,119 to €479,469
of which Other amounts receivable: +€191,980
- Cash +€35,170
up €35,170 (+33.6%), from €104,536 to €139,706
mainly Trade debts (+€204,666) and Net result for the year (+€23,063)
- Tangible fixed assets -€15,706
down €15,706 (-63.3%), from €24,814 to €9,108
of which Leasing and similar rights: -€8,780
- Trade debts +€204,666
up €204,666 (+55.6%), from €367,837 to €572,503
- Profit (loss) carried forward +€23,062
up €23,062 (+878%), from €2,625 to €25,688
- Debts after one year -€8,687
no longer reported in 2025 (was €8,687)
- Current portion of long-term debt -€8,043
down €8,043 (-48.1%), from €16,730 to €8,687
- Turnover +€817,524
new in 2025: €817,524
- Purchases and services +€776,380
new in 2025: €776,380
- Staff costs -€25,073
no longer reported in 2025 (was €25,073)
- Other operating charges -€24,722
down €24,722 (-96.9%), from €25,506 to €784
- Write-downs +€13,479
up €13,479, from -€3,712 to €9,766
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 | €422,631 | €628,444 | +€205,813 | +48.7% |
| Fixed assets | 21/28 | €24,975 | €9,269 | -€15,706 | -62.9% |
| Tangible fixed assets | 22/27 | €24,814 | €9,108 | -€15,706 | -63.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €8,075 | €1,149 | -€6,926 | -85.8% |
| Leasing and similar rights | 25 | €15,139 | €6,359 | -€8,780 | -58.0% |
| Other tangible fixed assets | 26 | €1,600 | €1,600 | = | 0.0% |
| Financial fixed assets | 28 | €161 | €161 | +€0 | 0.0% |
| Current assets | 29/58 | €397,656 | €619,175 | +€221,519 | +55.7% |
| Amounts receivable within one year | 40/41 | €293,119 | €479,469 | +€186,350 | +63.6% |
| Trade receivables | 40 | €293,119 | €287,489 | -€5,630 | -1.9% |
| Other amounts receivable | 41 | - | €191,980 | +€191,980 | |
| Cash at bank and in hand | 54/58 | €104,536 | €139,706 | +€35,170 | +33.6% |
| Total equity and liabilities | 10/49 | €422,631 | €628,444 | +€205,813 | +48.7% |
| Equity | 10/15 | €24,041 | €47,104 | +€23,062 | +95.9% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Contributions outside capital | 11 | €18,750 | €18,750 | = | 0.0% |
| Share premium | 1100/10 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €2,666 | €2,666 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Legal reserve | 130 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €791 | €791 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,625 | €25,688 | +€23,062 | +878% |
| Amounts payable | 17/49 | €398,590 | €581,341 | +€182,751 | +45.8% |
| Amounts payable after more than one year | 17 | €8,687 | - | -€8,687 | |
| Financial debts | 170/4 | €8,687 | - | -€8,687 | |
| Amounts payable within one year | 42/48 | €389,903 | €581,340 | +€191,437 | +49.1% |
| Current portion of amounts payable after more than one year | 42 | €16,730 | €8,687 | -€8,043 | -48.1% |
| Trade debts | 44 | €367,837 | €572,503 | +€204,666 | +55.6% |
| Suppliers | 440/4 | €367,837 | €572,503 | +€204,666 | +55.6% |
| Taxes, remuneration and social security | 45 | €5,336 | €150 | -€5,186 | -97.2% |
| Taxes | 450/3 | €5,336 | €150 | -€5,186 | -97.2% |
| Remuneration and social security | 454/9 | €0 | €0 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €0 | +€0 | |
| Turnover | 70 | - | €817,524 | +€817,524 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €776,380 | +€776,380 | |
| Remuneration, social security and pensions | 62 | €25,073 | - | -€25,073 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,572 | €18,579 | +€5,007 | +36.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,712 | €9,766 | +€13,479 | |
| Other operating charges | 640/8 | €25,506 | €784 | -€24,722 | -96.9% |
| Gross operating margin | 9900 | €63,092 | €51,708 | -€11,384 | -18.0% |
| Operating profit (loss) | 9901 | €2,653 | €22,578 | +€19,925 | +751% |
| Financial income | 75/76B | €28 | €2,172 | +€2,144 | +7,657% |
| Recurring financial income | 75 | €28 | €2,172 | +€2,144 | +7,657% |
| Financial charges | 65/66B | - | €1,425 | +€1,425 | |
| Recurring financial charges | 65 | - | €1,236 | +€1,236 | |
| Non-recurring financial charges | 66B | - | €189 | +€189 | |
| Profit (loss) for the period before taxes | 9903 | €2,681 | €23,325 | +€20,644 | +770% |
| Income taxes | 67/77 | - | €262 | +€262 | |
| Profit (loss) for the period | 9904 | €2,681 | €23,063 | +€20,382 | +760% |
| Profit (loss) for the period to be appropriated | 9905 | €2,681 | €23,063 | +€20,382 | +760% |
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 13 October 2026 via checked.be.