MARCHAL: 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.
MARCHAL
Largest movements
- Tangible fixed assets -€11,300
down €11,300 (-33.3%), from €33,900 to €22,600
- Receivables within one year +€7,105
up €7,105 (+5.5%), from €128,998 to €136,104
of which Trade receivables: +€19,685
- Cash -€4,807
down €4,807 (-12.8%), from €37,600 to €32,793
mainly Debts after one year (-€15,969) and Receivables within one year (-€7,105)
- Debts after one year -€15,969
down €15,969 (-38.6%), from €41,382 to €25,413
- Profit (loss) carried forward +€7,799
up €7,799 (+8.5%), from €92,028 to €99,826
- Financial charges -€7,497
down €7,497 (-78.8%), from €9,512 to €2,015
of which Non-recurring financial charges: -€7,317
- Gross operating margin -€6,018
down €6,018 (-19.8%), from €30,432 to €24,414
- Depreciation -€2,025
down €2,025 (-15.2%), from €13,325 to €11,300
- Taxes +€1,502
up €1,502 (+123%), from €1,221 to €2,723
- Other operating charges -€1,112
down €1,112 (-85.3%), from €1,304 to €192
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €200,679 | €191,677 | -€9,002 | -4.5% |
| Fixed assets | 21/28 | €34,081 | €22,781 | -€11,300 | -33.2% |
| Tangible fixed assets | 22/27 | €33,900 | €22,600 | -€11,300 | -33.3% |
| Furniture and vehicles | 24 | €33,900 | €22,600 | -€11,300 | -33.3% |
| Financial fixed assets | 28 | €181 | €181 | = | 0.0% |
| Current assets | 29/58 | €166,598 | €168,896 | +€2,298 | +1.4% |
| Amounts receivable within one year | 40/41 | €128,998 | €136,104 | +€7,105 | +5.5% |
| Trade receivables | 40 | €34,722 | €54,408 | +€19,685 | +56.7% |
| Other amounts receivable | 41 | €94,276 | €81,696 | -€12,580 | -13.3% |
| Cash at bank and in hand | 54/58 | €37,600 | €32,793 | -€4,807 | -12.8% |
| Total equity and liabilities | 10/49 | €200,679 | €191,677 | -€9,002 | -4.5% |
| Equity | 10/15 | €141,927 | €149,726 | +€7,799 | +5.5% |
| Contributions | 10/11 | €31,280 | €31,280 | = | 0.0% |
| Capital | 10 | €31,280 | €31,280 | = | 0.0% |
| Issued capital | 100 | €31,280 | €31,280 | = | 0.0% |
| Reserves | 13 | €18,619 | €18,619 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,409 | €3,409 | = | 0.0% |
| Legal reserve | 130 | €3,409 | €3,409 | = | 0.0% |
| Distributable reserves | 133 | €15,210 | €15,210 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,028 | €99,826 | +€7,799 | +8.5% |
| Amounts payable | 17/49 | €58,752 | €41,952 | -€16,800 | -28.6% |
| Amounts payable after more than one year | 17 | €41,382 | €25,413 | -€15,969 | -38.6% |
| Financial debts | 170/4 | €41,382 | €25,413 | -€15,969 | -38.6% |
| Amounts payable within one year | 42/48 | €17,370 | €16,539 | -€832 | -4.8% |
| Trade debts | 44 | €16,234 | €15,402 | -€832 | -5.1% |
| Suppliers | 440/4 | €16,234 | €15,402 | -€832 | -5.1% |
| Taxes, remuneration and social security | 45 | €1,137 | €1,137 | = | 0.0% |
| Taxes | 450/3 | - | €0 | = | |
| Remuneration and social security | 454/9 | €1,137 | €1,137 | = | 0.0% |
| Other amounts payable | 47/48 | - | €0 | = | |
| Non-recurring operating income | 76A | - | €64,185 | +€64,185 | |
| Remuneration, social security and pensions | 62 | €450 | €386 | -€64 | -14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,325 | €11,300 | -€2,025 | -15.2% |
| Other operating charges | 640/8 | €1,304 | €192 | -€1,112 | -85.3% |
| Gross operating margin | 9900 | €30,432 | €24,414 | -€6,018 | -19.8% |
| Operating profit (loss) | 9901 | €15,353 | €12,537 | -€2,817 | -18.3% |
| Financial charges | 65/66B | €9,512 | €2,015 | -€7,497 | -78.8% |
| Recurring financial charges | 65 | €2,195 | €2,015 | -€180 | -8.2% |
| Non-recurring financial charges | 66B | €7,317 | - | -€7,317 | |
| Profit (loss) for the period before taxes | 9903 | €5,841 | €10,522 | +€4,681 | +80.1% |
| Income taxes | 67/77 | €1,221 | €2,723 | +€1,502 | +123% |
| Profit (loss) for the period | 9904 | €4,620 | €7,799 | +€3,178 | +68.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,620 | €7,799 | +€3,178 | +68.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.