MARCELLE AZNAR: 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.
MARCELLE AZNAR
Largest movements
- Receivables within one year +€10,000
up €10,000 (+1,033%), from €968 to €10,968
- Tangible fixed assets -€9,725
down €9,725 (-2.6%), from €375,541 to €365,816
of which Land and buildings: -€11,346
- Other debts +€30,147
up €30,147 (+52.5%), from €57,374 to €87,521
- Debts after one year -€28,981
down €28,981 (-11.0%), from €263,913 to €234,932
- Gross operating margin +€9,228
up €9,228 (+92.3%), from €9,999 to €19,227
- Depreciation -€3,704
down €3,704 (-18.7%), from €19,857 to €16,153
- Taxes -€3,520
down €3,520, from €534 to -€2,986
- Financial charges -€403
down €403 (-7.0%), from €5,781 to €5,378
- Other operating charges +€242
up €242 (+9.1%), from €2,657 to €2,899
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 | €376,518 | €377,228 | +€710 | +0.2% |
| Fixed assets | 21/28 | €375,541 | €365,816 | -€9,725 | -2.6% |
| Tangible fixed assets | 22/27 | €375,541 | €365,816 | -€9,725 | -2.6% |
| Land and buildings | 22 | €361,087 | €349,741 | -€11,346 | -3.1% |
| Furniture and vehicles | 24 | €4,799 | €2,945 | -€1,854 | -38.6% |
| Other tangible fixed assets | 26 | €9,655 | €13,130 | +€3,475 | +36.0% |
| Current assets | 29/58 | €976 | €11,412 | +€10,436 | +1,069% |
| Amounts receivable within one year | 40/41 | €968 | €10,968 | +€10,000 | +1,033% |
| Trade receivables | 40 | €968 | €10,968 | +€10,000 | +1,033% |
| Cash at bank and in hand | 54/58 | €8 | €32 | +€24 | +281% |
| Deferred charges and accrued income | 490/1 | - | €412 | +€412 | |
| Total equity and liabilities | 10/49 | €376,518 | €377,228 | +€710 | +0.2% |
| Equity | 10/15 | €24,650 | €22,434 | -€2,216 | -9.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €16,345 | €16,345 | +€0 | 0.0% |
| Distributable reserves | 133 | €16,345 | €16,345 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€12,155 | -€14,371 | -€2,216 | -18.2% |
| Amounts payable | 17/49 | €351,867 | €354,794 | +€2,927 | +0.8% |
| Amounts payable after more than one year | 17 | €263,913 | €234,932 | -€28,981 | -11.0% |
| Financial debts | 170/4 | €263,913 | €234,932 | -€28,981 | -11.0% |
| Amounts payable within one year | 42/48 | €87,954 | €119,862 | +€31,908 | +36.3% |
| Current portion of amounts payable after more than one year | 42 | €28,460 | €28,981 | +€521 | +1.8% |
| Trade debts | 44 | €1,204 | €1,840 | +€636 | +52.8% |
| Suppliers | 440/4 | €1,204 | €1,840 | +€636 | +52.8% |
| Taxes, remuneration and social security | 45 | €916 | €1,520 | +€604 | +65.9% |
| Taxes | 450/3 | €916 | €1,520 | +€604 | +65.9% |
| Other amounts payable | 47/48 | €57,374 | €87,521 | +€30,147 | +52.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,857 | €16,153 | -€3,704 | -18.7% |
| Other operating charges | 640/8 | €2,657 | €2,899 | +€242 | +9.1% |
| Gross operating margin | 9900 | €9,999 | €19,227 | +€9,228 | +92.3% |
| Operating profit (loss) | 9901 | -€12,515 | €175 | +€12,690 | |
| Financial charges | 65/66B | €5,781 | €5,378 | -€403 | -7.0% |
| Recurring financial charges | 65 | €5,781 | €5,378 | -€403 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | -€18,296 | -€5,203 | +€13,093 | +71.6% |
| Income taxes | 67/77 | €534 | -€2,986 | -€3,520 | |
| Profit (loss) for the period | 9904 | -€18,831 | -€2,217 | +€16,614 | +88.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,831 | -€2,217 | +€16,614 | +88.2% |
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 18 October 2026 via checked.be.