MARCEL DE VOS & 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 DE VOS & C°
Largest movements
- Stocks and contracts +€1.3m
up €1.3m (+18.2%), from €7.4m to €8.7m
of which Contracts in progress: +€1.4m
- Receivables within one year -€344,844
down €344,844 (-43.4%), from €794,952 to €450,109
of which Other amounts receivable: -€310,316
- Cash -€281,392
down €281,392 (-95.8%), from €293,801 to €12,408
mainly Net result for the year (-€1.7m) and Stocks and contracts (-€1.3m)
- Profit (loss) carried forward -€1.7m
down €1.7m (-106%), from -€1.6m to -€3.2m
- Other debts +€921,766
up €921,766 (+19.6%), from €4.7m to €5.6m
- Advances received +€897,724
up €897,724 (+181%), from €495,043 to €1.4m
- Short-term financial debts -€822,039
down €822,039 (-46.8%), from €1.8m to €933,371
- Debts after one year +€798,113
up €798,113 (+123%), from €649,477 to €1.4m
- Gross operating margin -€2.2m
down €2.2m, from €1.1m to -€1.1m
- Financial charges +€53,403
up €53,403 (+12.4%), from €431,715 to €485,118
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 | €8,571,692 | €9,301,158 | +€729,466 | +8.5% |
| Fixed assets | 21/28 | €4,005 | €2,813 | -€1,192 | -29.8% |
| Intangible fixed assets | 21 | €2,930 | €2,225 | -€705 | -24.1% |
| Tangible fixed assets | 22/27 | €923 | €436 | -€487 | -52.7% |
| Furniture and vehicles | 24 | €923 | €436 | -€487 | -52.7% |
| Financial fixed assets | 28 | €152 | €152 | = | 0.0% |
| Current assets | 29/58 | €8,567,687 | €9,298,345 | +€730,658 | +8.5% |
| Stocks and contracts in progress | 3 | €7,398,490 | €8,746,390 | +€1.3m | +18.2% |
| Stocks | 30/36 | €982,727 | €968,194 | -€14,534 | -1.5% |
| Contracts in progress | 37 | €6,415,762 | €7,778,196 | +€1.4m | +21.2% |
| Amounts receivable within one year | 40/41 | €794,952 | €450,109 | -€344,844 | -43.4% |
| Trade receivables | 40 | €37,453 | €2,924 | -€34,528 | -92.2% |
| Other amounts receivable | 41 | €757,500 | €447,184 | -€310,316 | -41.0% |
| Cash at bank and in hand | 54/58 | €293,801 | €12,408 | -€281,392 | -95.8% |
| Deferred charges and accrued income | 490/1 | €80,444 | €89,438 | +€8,995 | +11.2% |
| Total equity and liabilities | 10/49 | €8,571,692 | €9,301,158 | +€729,466 | +8.5% |
| Equity | 10/15 | -€1,318,751 | -€2,974,142 | -€1.7m | -126% |
| Contributions | 10/11 | €225,000 | €225,000 | = | 0.0% |
| Reserves | 13 | €17,272 | €17,272 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Other | 1319 | €2,479 | €2,479 | = | 0.0% |
| Distributable reserves | 133 | €14,793 | €14,793 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,561,022 | -€3,216,414 | -€1.7m | -106% |
| Amounts payable | 17/49 | €9,890,442 | €12,275,300 | +€2.4m | +24.1% |
| Amounts payable after more than one year | 17 | €649,477 | €1,447,589 | +€798,113 | +123% |
| Financial debts | 170/4 | €649,477 | €1,447,589 | +€798,113 | +123% |
| Amounts payable within one year | 42/48 | €9,096,518 | €10,430,227 | +€1.3m | +14.7% |
| Current portion of amounts payable after more than one year | 42 | €1,874,697 | €2,150,698 | +€276,001 | +14.7% |
| Financial debts | 43 | €1,755,410 | €933,371 | -€822,039 | -46.8% |
| Credit institutions | 430/8 | €1,755,410 | €933,371 | -€822,039 | -46.8% |
| Trade debts | 44 | €247,010 | €319,138 | +€72,129 | +29.2% |
| Suppliers | 440/4 | €247,010 | €319,138 | +€72,129 | +29.2% |
| Advances received on contracts in progress | 46 | €495,043 | €1,392,767 | +€897,724 | +181% |
| Taxes, remuneration and social security | 45 | €24,188 | €12,316 | -€11,873 | -49.1% |
| Taxes | 450/3 | €13,078 | €808 | -€12,270 | -93.8% |
| Remuneration and social security | 454/9 | €11,110 | €11,508 | +€398 | +3.6% |
| Other amounts payable | 47/48 | €4,700,170 | €5,621,937 | +€921,766 | +19.6% |
| Accrued charges and deferred income | 492/3 | €144,448 | €397,483 | +€253,035 | +175% |
| Non-recurring operating income | 76A | €767,372 | €0 | -€767,372 | -100% |
| Remuneration, social security and pensions | 62 | €98,128 | €100,950 | +€2,822 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,535 | €1,192 | -€343 | -22.3% |
| Other operating charges | 640/8 | €2,330 | €9,442 | +€7,112 | +305% |
| Gross operating margin | 9900 | €1,083,998 | -€1,077,195 | -€2.2m | |
| Operating profit (loss) | 9901 | €982,005 | -€1,188,779 | -€2.2m | |
| Financial income | 75/76B | €25,259 | €19,158 | -€6,101 | -24.2% |
| Recurring financial income | 75 | €25,259 | €19,158 | -€6,101 | -24.2% |
| Financial charges | 65/66B | €431,715 | €485,118 | +€53,403 | +12.4% |
| Recurring financial charges | 65 | €431,715 | €485,118 | +€53,403 | +12.4% |
| Profit (loss) for the period before taxes | 9903 | €575,549 | -€1,654,739 | -€2.2m | |
| Income taxes | 67/77 | €688 | €652 | -€37 | -5.3% |
| Profit (loss) for the period | 9904 | €574,861 | -€1,655,391 | -€2.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €574,861 | -€1,655,391 | -€2.2m |
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 30 October 2026 via checked.be.