MARCELLO: 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.
MARCELLO
Largest movements
- Receivables within one year +€5,070
up €5,070 (+12.5%), from €40,490 to €45,560
of which Trade receivables: +€16,990
- Cash +€2,529
up €2,529 (+336%), from €753 to €3,282
mainly Trade debts (+€10,901) and Other debts (+€10,813)
- Deferred charges and accrued income +€603
up €603 (+708%), from €85 to €688
- Trade debts +€10,901
up €10,901 (+639%), from €1,707 to €12,607
- Other debts +€10,813
new in 2025: €10,813
- Tax, wage and social debts -€6,876
down €6,876 (-47.3%), from €14,551 to €7,675
of which Taxes: -€11,748
- Profit (loss) carried forward -€6,636
down €6,636 (-56.2%), from €11,805 to €5,169
- Gross operating margin -€7,145
down €7,145 (-3,565%), from -€200 to -€7,346
- Taxes -€3,255
down €3,255, from €1,473 to -€1,782
- Financial income -€1,000
no longer reported in 2025 (was €1,000)
- Other operating charges +€191
up €191 (+35.8%), from €535 to €727
- Financial charges +€82
up €82 (+31.2%), from €263 to €346
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 | €41,582 | €49,784 | +€8,202 | +19.7% |
| Fixed assets | 21/28 | €254 | €254 | = | 0.0% |
| Financial fixed assets | 28 | €254 | €254 | = | 0.0% |
| Current assets | 29/58 | €41,328 | €49,530 | +€8,202 | +19.8% |
| Amounts receivable within one year | 40/41 | €40,490 | €45,560 | +€5,070 | +12.5% |
| Trade receivables | 40 | €26,890 | €43,880 | +€16,990 | +63.2% |
| Other amounts receivable | 41 | €13,600 | €1,680 | -€11,920 | -87.6% |
| Cash at bank and in hand | 54/58 | €753 | €3,282 | +€2,529 | +336% |
| Deferred charges and accrued income | 490/1 | €85 | €688 | +€603 | +708% |
| Total equity and liabilities | 10/49 | €41,582 | €49,784 | +€8,202 | +19.7% |
| Equity | 10/15 | €25,324 | €18,688 | -€6,636 | -26.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €7,320 | €7,320 | = | 0.0% |
| Distributable reserves | 133 | €7,320 | €7,320 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,805 | €5,169 | -€6,636 | -56.2% |
| Amounts payable | 17/49 | €16,258 | €31,096 | +€14,838 | +91.3% |
| Amounts payable within one year | 42/48 | €16,258 | €31,096 | +€14,838 | +91.3% |
| Trade debts | 44 | €1,707 | €12,607 | +€10,901 | +639% |
| Suppliers | 440/4 | €1,707 | €12,607 | +€10,901 | +639% |
| Taxes, remuneration and social security | 45 | €14,551 | €7,675 | -€6,876 | -47.3% |
| Taxes | 450/3 | €14,551 | €2,803 | -€11,748 | -80.7% |
| Remuneration and social security | 454/9 | - | €4,872 | +€4,872 | |
| Other amounts payable | 47/48 | - | €10,813 | +€10,813 | |
| Other operating charges | 640/8 | €535 | €727 | +€191 | +35.8% |
| Gross operating margin | 9900 | -€200 | -€7,346 | -€7,145 | -3,565% |
| Operating profit (loss) | 9901 | -€736 | -€8,072 | -€7,336 | -997% |
| Financial income | 75/76B | €1,000 | - | -€1,000 | |
| Recurring financial income | 75 | €1,000 | - | -€1,000 | |
| Financial charges | 65/66B | €263 | €346 | +€82 | +31.2% |
| Recurring financial charges | 65 | €263 | €346 | +€82 | +31.2% |
| Profit (loss) for the period before taxes | 9903 | €1 | -€8,418 | -€8,419 | |
| Income taxes | 67/77 | €1,473 | -€1,782 | -€3,255 | |
| Profit (loss) for the period | 9904 | -€1,472 | -€6,636 | -€5,164 | -351% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,472 | -€6,636 | -€5,164 | -351% |
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 27 October 2026 via checked.be.