MARCELLA GROUP: 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.
MARCELLA GROUP
Largest movements
- Receivables within one year +€104,692
up €104,692 (+48.1%), from €217,485 to €322,176
of which Other amounts receivable: +€105,422
- Cash -€73,274
down €73,274 (-39.8%), from €184,084 to €110,810
mainly Receivables within one year (-€104,692) and Investment in fixed assets (net) (-€49,964)
- Stocks and contracts -€23,628
down €23,628 (-49.4%), from €47,804 to €24,176
- Tangible fixed assets +€22,499
up €22,499 (+25.1%), from €89,558 to €112,057
of which Furniture and vehicles: +€37,758
- Deferred charges and accrued income -€6,435
no longer reported in 2025 (was €6,435)
- Profit (loss) carried forward +€65,323
up €65,323 (+28.6%), from €228,462 to €293,786
- Trade debts -€23,700
down €23,700 (-23.1%), from €102,702 to €79,002
- Current portion of long-term debt -€12,373
down €12,373 (-23.9%), from €51,712 to €39,339
- Turnover -€37,350
down €37,350 (-3.2%), from €1.1m to €1.1m
- Gross operating margin -€27,827
down €27,827 (-5.3%), from €524,532 to €496,705
- Financial income -€27,100
no longer reported in 2025 (was €27,100)
- Taxes -€14,400
down €14,400 (-36.1%), from €39,905 to €25,505
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 | €547,365 | €571,219 | +€23,854 | +4.4% |
| Fixed assets | 21/28 | €91,558 | €114,057 | +€22,499 | +24.6% |
| Tangible fixed assets | 22/27 | €89,558 | €112,057 | +€22,499 | +25.1% |
| Furniture and vehicles | 24 | €5,929 | €43,687 | +€37,758 | +636.8% |
| Other tangible fixed assets | 26 | €83,629 | €68,370 | -€15,259 | -18.2% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €455,807 | €457,162 | +€1,355 | +0.3% |
| Stocks and contracts in progress | 3 | €47,804 | €24,176 | -€23,628 | -49.4% |
| Stocks | 30/36 | €47,804 | €24,176 | -€23,628 | -49.4% |
| Amounts receivable within one year | 40/41 | €217,485 | €322,176 | +€104,692 | +48.1% |
| Trade receivables | 40 | €9,667 | €8,936 | -€731 | -7.6% |
| Other amounts receivable | 41 | €207,818 | €313,240 | +€105,422 | +50.7% |
| Cash at bank and in hand | 54/58 | €184,084 | €110,810 | -€73,274 | -39.8% |
| Deferred charges and accrued income | 490/1 | €6,435 | - | -€6,435 | |
| Total equity and liabilities | 10/49 | €547,365 | €571,219 | +€23,854 | +4.4% |
| Equity | 10/15 | €251,162 | €316,486 | +€65,323 | +26.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €16,500 | €16,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,500 | €16,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €228,462 | €293,786 | +€65,323 | +28.6% |
| Amounts payable | 17/49 | €296,203 | €254,733 | -€41,470 | -14.0% |
| Amounts payable after more than one year | 17 | €15,901 | €17,050 | +€1,149 | +7.2% |
| Financial debts | 170/4 | €15,901 | €17,050 | +€1,149 | +7.2% |
| Amounts payable within one year | 42/48 | €280,302 | €237,683 | -€42,619 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | €51,712 | €39,339 | -€12,373 | -23.9% |
| Trade debts | 44 | €102,702 | €79,002 | -€23,700 | -23.1% |
| Suppliers | 440/4 | €102,702 | €79,002 | -€23,700 | -23.1% |
| Taxes, remuneration and social security | 45 | €113,570 | €111,524 | -€2,046 | -1.8% |
| Taxes | 450/3 | €63,108 | €62,432 | -€676 | -1.1% |
| Remuneration and social security | 454/9 | €50,462 | €49,092 | -€1,370 | -2.7% |
| Other amounts payable | 47/48 | €12,318 | €7,818 | -€4,500 | -36.5% |
| Turnover | 70 | €1,149,732 | €1,112,382 | -€37,350 | -3.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €625,200 | €615,677 | -€9,523 | -1.5% |
| Remuneration, social security and pensions | 62 | €354,405 | €364,775 | +€10,369 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,359 | €27,465 | -€7,894 | -22.3% |
| Other operating charges | 640/8 | €3,142 | €4,057 | +€914 | +29.1% |
| Gross operating margin | 9900 | €524,532 | €496,705 | -€27,827 | -5.3% |
| Operating profit (loss) | 9901 | €131,625 | €100,409 | -€31,216 | -23.7% |
| Financial income | 75/76B | €27,100 | - | -€27,100 | |
| Recurring financial income | 75 | €27,100 | - | -€27,100 | |
| Financial charges | 65/66B | €8,866 | €9,581 | +€715 | +8.1% |
| Recurring financial charges | 65 | €8,866 | €9,581 | +€715 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | €149,859 | €90,828 | -€59,031 | -39.4% |
| Income taxes | 67/77 | €39,905 | €25,505 | -€14,400 | -36.1% |
| Profit (loss) for the period | 9904 | €109,954 | €65,323 | -€44,631 | -40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €109,954 | €65,323 | -€44,631 | -40.6% |
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 3 October 2026 via checked.be.