MARCELIS SMART OFFICE: 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.
MARCELIS SMART OFFICE
Largest movements
- Receivables within one year +€146,068
up €146,068 (+54.2%), from €269,734 to €415,802
of which Trade receivables: +€155,795
- Stocks and contracts -€93,000
down €93,000 (-16.8%), from €553,957 to €460,957
- Cash +€22,485
up €22,485 (+112%), from €19,994 to €42,479
mainly Trade debts (+€95,767) and Stocks and contracts (+€93,000)
- Trade debts +€95,767
up €95,767 (+69.7%), from €137,323 to €233,090
- Tax, wage and social debts +€37,685
up €37,685 (+69.0%), from €54,600 to €92,285
of which Taxes: +€36,060
- Short-term financial debts -€35,021
down €35,021 (-6.6%), from €532,591 to €497,570
- Profit (loss) carried forward -€31,142
down €31,142 (-9.1%), from -€340,858 to -€372,000
- Gross operating margin +€22,213
up €22,213 (+8.7%), from €255,967 to €278,181
- Staff costs +€12,383
up €12,383 (+5.3%), from €235,833 to €248,216
- Financial charges -€6,119
down €6,119 (-15.0%), from €40,871 to €34,752
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 | €918,433 | €982,792 | +€64,359 | +7.0% |
| Fixed assets | 21/28 | €48,802 | €44,338 | -€4,464 | -9.1% |
| Tangible fixed assets | 22/27 | €44,852 | €40,388 | -€4,464 | -10.0% |
| Plant, machinery and equipment | 23 | €6,862 | €4,915 | -€1,947 | -28.4% |
| Furniture and vehicles | 24 | €2,053 | €5,127 | +€3,075 | +150% |
| Other tangible fixed assets | 26 | €35,937 | €30,346 | -€5,591 | -15.6% |
| Financial fixed assets | 28 | €3,950 | €3,950 | = | 0.0% |
| Current assets | 29/58 | €869,631 | €938,454 | +€68,823 | +7.9% |
| Stocks and contracts in progress | 3 | €553,957 | €460,957 | -€93,000 | -16.8% |
| Stocks | 30/36 | €553,957 | €460,957 | -€93,000 | -16.8% |
| Amounts receivable within one year | 40/41 | €269,734 | €415,802 | +€146,068 | +54.2% |
| Trade receivables | 40 | €193,007 | €348,802 | +€155,795 | +80.7% |
| Other amounts receivable | 41 | €76,727 | €67,000 | -€9,727 | -12.7% |
| Cash at bank and in hand | 54/58 | €19,994 | €42,479 | +€22,485 | +112% |
| Deferred charges and accrued income | 490/1 | €25,946 | €19,216 | -€6,730 | -25.9% |
| Total equity and liabilities | 10/49 | €918,433 | €982,792 | +€64,359 | +7.0% |
| Equity | 10/15 | €77,112 | €45,969 | -€31,142 | -40.4% |
| Contributions | 10/11 | €371,840 | €371,840 | = | 0.0% |
| Capital | 10 | €371,840 | €371,840 | = | 0.0% |
| Issued capital | 100 | €371,840 | €371,840 | = | 0.0% |
| Reserves | 13 | €46,129 | €46,129 | = | 0.0% |
| Non-distributable reserves | 130/1 | €26,072 | €26,072 | = | 0.0% |
| Legal reserve | 130 | €24,014 | €24,014 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,058 | €2,058 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,622 | €2,622 | = | 0.0% |
| Distributable reserves | 133 | €17,435 | €17,435 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€340,858 | -€372,000 | -€31,142 | -9.1% |
| Amounts payable | 17/49 | €841,321 | €936,823 | +€95,502 | +11.4% |
| Amounts payable within one year | 42/48 | €841,321 | €936,823 | +€95,502 | +11.4% |
| Financial debts | 43 | €532,591 | €497,570 | -€35,021 | -6.6% |
| Credit institutions | 430/8 | €532,591 | €497,570 | -€35,021 | -6.6% |
| Trade debts | 44 | €137,323 | €233,090 | +€95,767 | +69.7% |
| Suppliers | 440/4 | €137,323 | €233,090 | +€95,767 | +69.7% |
| Taxes, remuneration and social security | 45 | €54,600 | €92,285 | +€37,685 | +69.0% |
| Taxes | 450/3 | €26,323 | €62,383 | +€36,060 | +137% |
| Remuneration and social security | 454/9 | €28,277 | €29,902 | +€1,625 | +5.7% |
| Other amounts payable | 47/48 | €116,808 | €113,878 | -€2,930 | -2.5% |
| Remuneration, social security and pensions | 62 | €235,833 | €248,216 | +€12,383 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,635 | €11,547 | -€2,088 | -15.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €14,690 | €14,485 | -€205 | -1.4% |
| Non-recurring operating charges | 66A | €136 | €0 | -€136 | -100% |
| Gross operating margin | 9900 | €255,967 | €278,181 | +€22,213 | +8.7% |
| Operating profit (loss) | 9901 | -€8,327 | €3,933 | +€12,260 | |
| Financial income | 75/76B | €243 | €296 | +€53 | +21.8% |
| Recurring financial income | 75 | €243 | €296 | +€53 | +21.8% |
| Financial charges | 65/66B | €40,871 | €34,752 | -€6,119 | -15.0% |
| Recurring financial charges | 65 | €40,871 | €34,752 | -€6,119 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | -€48,955 | -€30,523 | +€18,432 | +37.7% |
| Income taxes | 67/77 | €628 | €619 | -€10 | -1.5% |
| Profit (loss) for the period | 9904 | -€49,584 | -€31,142 | +€18,441 | +37.2% |
| Transfer from tax-exempt reserves | 789 | €11,899 | €0 | -€11,899 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,685 | -€31,142 | +€6,543 | +17.4% |
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.