MARCELLA: 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.
MARCELLA
Largest movements
- Cash +€132,416
up €132,416 (+47.4%), from €279,196 to €411,612
mainly Net result for the year (+€124,843) and Receivables within one year (+€113,249)
- Receivables within one year -€113,249
down €113,249 (-93.7%), from €120,901 to €7,651
of which Trade receivables: -€118,098
- Deferred charges and accrued income +€10,001
up €10,001 (+1,285%), from €778 to €10,779
- Tangible fixed assets -€6,843
down €6,843 (-22.0%), from €31,064 to €24,221
of which Furniture and vehicles: -€5,624
- Profit (loss) carried forward -€45,829
down €45,829 (-22.5%), from €203,547 to €157,718
- Reserves +€42,100
up €42,100 (+56.8%), from €74,083 to €116,183
of which Tax-exempt reserves: +€42,100
- Other debts +€32,201
up €32,201 (+30.0%), from €107,488 to €139,689
- Tax, wage and social debts -€9,789
down €9,789 (-21.6%), from €45,256 to €35,468
- Gross operating margin -€220,485
down €220,485 (-55.3%), from €398,991 to €178,506
- Taxes -€54,988
down €54,988 (-54.6%), from €100,683 to €45,695
- Depreciation -€6,969
down €6,969 (-40.6%), from €17,146 to €10,177
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 | €435,318 | €454,308 | +€18,991 | +4.4% |
| Fixed assets | 21/28 | €34,443 | €24,266 | -€10,177 | -29.5% |
| Intangible fixed assets | 21 | €3,333 | - | -€3,333 | |
| Tangible fixed assets | 22/27 | €31,064 | €24,221 | -€6,843 | -22.0% |
| Plant, machinery and equipment | 23 | €1,376 | €157 | -€1,220 | -88.6% |
| Furniture and vehicles | 24 | €29,688 | €24,064 | -€5,624 | -18.9% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €400,875 | €430,043 | +€29,168 | +7.3% |
| Amounts receivable within one year | 40/41 | €120,901 | €7,651 | -€113,249 | -93.7% |
| Trade receivables | 40 | €120,901 | €2,802 | -€118,098 | -97.7% |
| Other amounts receivable | 41 | - | €4,849 | +€4,849 | |
| Cash at bank and in hand | 54/58 | €279,196 | €411,612 | +€132,416 | +47.4% |
| Deferred charges and accrued income | 490/1 | €778 | €10,779 | +€10,001 | +1,285% |
| Total equity and liabilities | 10/49 | €435,318 | €454,308 | +€18,991 | +4.4% |
| Equity | 10/15 | €282,462 | €278,733 | -€3,729 | -1.3% |
| Contributions | 10/11 | €4,831 | €4,831 | = | 0.0% |
| Reserves | 13 | €74,083 | €116,183 | +€42,100 | +56.8% |
| Tax-exempt reserves | 132 | €42,100 | €84,200 | +€42,100 | +100% |
| Distributable reserves | 133 | €31,983 | €31,983 | = | 0.0% |
| Profit (loss) carried forward | 14 | €203,547 | €157,718 | -€45,829 | -22.5% |
| Amounts payable | 17/49 | €152,856 | €175,576 | +€22,720 | +14.9% |
| Amounts payable within one year | 42/48 | €152,856 | €175,576 | +€22,720 | +14.9% |
| Trade debts | 44 | €111 | €418 | +€307 | +276% |
| Suppliers | 440/4 | €111 | €418 | +€307 | +276% |
| Taxes, remuneration and social security | 45 | €45,256 | €35,468 | -€9,789 | -21.6% |
| Taxes | 450/3 | €45,256 | €35,468 | -€9,789 | -21.6% |
| Other amounts payable | 47/48 | €107,488 | €139,689 | +€32,201 | +30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,146 | €10,177 | -€6,969 | -40.6% |
| Other operating charges | 640/8 | €479 | €728 | +€249 | +52.1% |
| Gross operating margin | 9900 | €398,991 | €178,506 | -€220,485 | -55.3% |
| Operating profit (loss) | 9901 | €381,366 | €167,601 | -€213,765 | -56.1% |
| Financial income | 75/76B | €740 | €3,084 | +€2,345 | +317% |
| Recurring financial income | 75 | €740 | €3,084 | +€2,345 | +317% |
| Financial charges | 65/66B | €145 | €148 | +€3 | +2.2% |
| Recurring financial charges | 65 | €145 | €148 | +€3 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €381,961 | €170,538 | -€211,423 | -55.4% |
| Income taxes | 67/77 | €100,683 | €45,695 | -€54,988 | -54.6% |
| Profit (loss) for the period | 9904 | €281,278 | €124,843 | -€156,435 | -55.6% |
| Transfer to tax-exempt reserves | 689 | - | €42,100 | +€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €281,278 | €82,743 | -€198,535 | -70.6% |
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 16 October 2026 via checked.be.