MARCELIS-HELSEN: 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.
MARCELIS-HELSEN
Largest movements
- Cash +€49,241
up €49,241 (+81.2%), from €60,677 to €109,918
mainly Other debts (+€75,000) and Net result for the year (+€33,795)
- Tangible fixed assets -€22,645
down €22,645 (-9.2%), from €245,869 to €223,224
of which Furniture and vehicles: -€15,250
- Receivables within one year +€19,754
up €19,754 (+957.0%), from €2,064 to €21,818
- Deferred charges and accrued income -€10,068
down €10,068 (-58.1%), from €17,331 to €7,264
- Other debts +€75,000
up €75,000 (+500.0%), from €15,000 to €90,000
- Reserves -€41,205
down €41,205 (-11.9%), from €345,372 to €304,167
of which Distributable reserves: -€41,205
- Accrued charges and deferred income +€6,576
up €6,576 (+20116.3%), from €33 to €6,609
- Current portion of long-term debt -€5,771
down €5,771 (-100.0%), from €5,771 to €0
- Gross operating margin -€5,868
down €5,868 (-6.5%), from €89,968 to €84,100
- Taxes -€1,024
down €1,024 (-7.7%), from €13,240 to €12,216
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 | €425,941 | €462,224 | +€36,283 | +8.5% |
| Fixed assets | 21/28 | €245,869 | €223,224 | -€22,645 | -9.2% |
| Tangible fixed assets | 22/27 | €245,869 | €223,224 | -€22,645 | -9.2% |
| Land and buildings | 22 | €212,364 | €204,970 | -€7,394 | -3.5% |
| Furniture and vehicles | 24 | €33,504 | €18,254 | -€15,250 | -45.5% |
| Current assets | 29/58 | €180,072 | €239,000 | +€58,928 | +32.7% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,064 | €21,818 | +€19,754 | +957.0% |
| Other amounts receivable | 41 | €2,064 | €21,818 | +€19,754 | +957.0% |
| Cash at bank and in hand | 54/58 | €60,677 | €109,918 | +€49,241 | +81.2% |
| Deferred charges and accrued income | 490/1 | €17,331 | €7,264 | -€10,068 | -58.1% |
| Total equity and liabilities | 10/49 | €425,941 | €462,224 | +€36,283 | +8.5% |
| Equity | 10/15 | €401,148 | €359,943 | -€41,205 | -10.3% |
| Contributions | 10/11 | €55,776 | €55,776 | = | 0.0% |
| Reserves | 13 | €345,372 | €304,167 | -€41,205 | -11.9% |
| Tax-exempt reserves | 132 | €32,601 | €32,601 | = | 0.0% |
| Distributable reserves | 133 | €312,771 | €271,566 | -€41,205 | -13.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €24,793 | €102,280 | +€77,488 | +312.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €24,760 | €95,672 | +€70,912 | +286.4% |
| Current portion of amounts payable after more than one year | 42 | €5,771 | €0 | -€5,771 | -100.0% |
| Trade debts | 44 | €3,288 | €2,809 | -€479 | -14.6% |
| Suppliers | 440/4 | €3,288 | €2,809 | -€479 | -14.6% |
| Taxes, remuneration and social security | 45 | €701 | €2,862 | +€2,161 | +308.3% |
| Taxes | 450/3 | €701 | €2,862 | +€2,161 | +308.3% |
| Other amounts payable | 47/48 | €15,000 | €90,000 | +€75,000 | +500.0% |
| Accrued charges and deferred income | 492/3 | €33 | €6,609 | +€6,576 | +20116.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,758 | €25,938 | +€180 | +0.7% |
| Other operating charges | 640/8 | €13,454 | €13,770 | +€315 | +2.3% |
| Gross operating margin | 9900 | €89,968 | €84,100 | -€5,868 | -6.5% |
| Operating profit (loss) | 9901 | €50,756 | €44,392 | -€6,364 | -12.5% |
| Financial income | 75/76B | €1,212 | €1,778 | +€567 | +46.8% |
| Recurring financial income | 75 | €1,212 | €1,778 | +€567 | +46.8% |
| Financial charges | 65/66B | €556 | €159 | -€397 | -71.4% |
| Recurring financial charges | 65 | €556 | €159 | -€397 | -71.4% |
| Profit (loss) for the period before taxes | 9903 | €51,411 | €46,011 | -€5,400 | -10.5% |
| Income taxes | 67/77 | €13,240 | €12,216 | -€1,024 | -7.7% |
| Profit (loss) for the period | 9904 | €38,171 | €33,795 | -€4,375 | -11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,171 | €33,795 | -€4,375 | -11.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.