MarcEls: what changed
MarcEls
Largest movements
- Current investments +€6,400
new in 2025: €6,400
- Receivables within one year +€4,757
up €4,757 (+18.3%), from €25,938 to €30,695
of which Trade receivables: +€3,345
- Cash -€969
down €969 (-15.0%), from €6,473 to €5,504
mainly Current investments (-€6,400) and Receivables within one year (-€4,757)
- Reserves +€9,998
up €9,998 (+73.7%), from €13,557 to €23,555
- Tax, wage and social debts +€2,153
up €2,153 (+18.6%), from €11,586 to €13,738
of which Taxes: +€2,150
- Trade debts -€1,962
down €1,962 (-86.5%), from €2,268 to €305
- Gross operating margin -€2,530
down €2,530 (-13.3%), from €19,033 to €16,503
- Financial charges +€1,415
new in 2025: €1,415
- Taxes -€548
down €548 (-10.7%), from €5,102 to €4,554
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €32,411 | €42,598 | +€10,188 | +31.4% |
| Current assets | 29/58 | €32,411 | €42,598 | +€10,188 | +31.4% |
| Amounts receivable within one year | 40/41 | €25,938 | €30,695 | +€4,757 | +18.3% |
| Trade receivables | 40 | €24,200 | €27,545 | +€3,345 | +13.8% |
| Other amounts receivable | 41 | €1,738 | €3,150 | +€1,412 | +81.3% |
| Current investments | 50/53 | - | €6,400 | +€6,400 | |
| Cash at bank and in hand | 54/58 | €6,473 | €5,504 | -€969 | -15.0% |
| Total equity and liabilities | 10/49 | €32,411 | €42,598 | +€10,188 | +31.4% |
| Equity | 10/15 | €18,557 | €28,555 | +€9,998 | +53.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €13,557 | €23,555 | +€9,998 | +73.7% |
| Distributable reserves | 133 | €13,557 | €23,555 | +€9,998 | +73.7% |
| Amounts payable | 17/49 | €13,853 | €14,044 | +€190 | +1.4% |
| Amounts payable within one year | 42/48 | €13,853 | €14,044 | +€190 | +1.4% |
| Trade debts | 44 | €2,268 | €305 | -€1,962 | -86.5% |
| Suppliers | 440/4 | €2,268 | €305 | -€1,962 | -86.5% |
| Taxes, remuneration and social security | 45 | €11,586 | €13,738 | +€2,153 | +18.6% |
| Taxes | 450/3 | €11,586 | €13,736 | +€2,150 | +18.6% |
| Remuneration and social security | 454/9 | - | €2 | +€2 | |
| Other operating charges | 640/8 | €387 | €537 | +€149 | +38.6% |
| Gross operating margin | 9900 | €19,033 | €16,503 | -€2,530 | -13.3% |
| Operating profit (loss) | 9901 | €18,646 | €15,967 | -€2,679 | -14.4% |
| Financial income | 75/76B | €13 | €0 | -€13 | -99.9% |
| Recurring financial income | 75 | €13 | €0 | -€13 | -99.9% |
| Financial charges | 65/66B | - | €1,415 | +€1,415 | |
| Recurring financial charges | 65 | - | €1,415 | +€1,415 | |
| Profit (loss) for the period before taxes | 9903 | €18,659 | €14,551 | -€4,108 | -22.0% |
| Income taxes | 67/77 | €5,102 | €4,554 | -€548 | -10.7% |
| Profit (loss) for the period | 9904 | €13,557 | €9,998 | -€3,559 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,557 | €9,998 | -€3,559 | -26.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.