MARCHAMAN: 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.
MARCHAMAN
Largest movements
- Tangible fixed assets -€31,710
down €31,710 (-8.1%), from €391,757 to €360,047
of which Land and buildings: -€24,682
- Cash -€26,594
down €26,594 (-32.8%), from €80,965 to €54,371
mainly Contributions, distributions and other (-€72,100) and Smaller working-capital items (-€191)
- Contributions -€65,100
down €65,100 (-18.6%), from €350,000 to €284,900
- Reserves +€10,830
up €10,830 (+12.3%), from €87,745 to €98,575
- Depreciation -€4,944
down €4,944 (-13.5%), from €36,655 to €31,710
- Taxes +€1,743
up €1,743 (+29.5%), from €5,913 to €7,656
- Gross operating margin +€1,266
up €1,266 (+2.1%), from €59,216 to €60,482
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 | €473,904 | €415,758 | -€58,146 | -12.3% |
| Fixed assets | 21/28 | €391,757 | €360,047 | -€31,710 | -8.1% |
| Tangible fixed assets | 22/27 | €391,757 | €360,047 | -€31,710 | -8.1% |
| Land and buildings | 22 | €366,566 | €341,883 | -€24,682 | -6.7% |
| Furniture and vehicles | 24 | €25,191 | €18,163 | -€7,028 | -27.9% |
| Current assets | 29/58 | €82,147 | €55,711 | -€26,436 | -32.2% |
| Amounts receivable within one year | 40/41 | €352 | €428 | +€76 | +21.5% |
| Other amounts receivable | 41 | €352 | €428 | +€76 | +21.5% |
| Cash at bank and in hand | 54/58 | €80,965 | €54,371 | -€26,594 | -32.8% |
| Deferred charges and accrued income | 490/1 | €830 | €912 | +€82 | +9.9% |
| Total equity and liabilities | 10/49 | €473,904 | €415,758 | -€58,146 | -12.3% |
| Equity | 10/15 | €466,726 | €407,846 | -€58,880 | -12.6% |
| Contributions | 10/11 | €350,000 | €284,900 | -€65,100 | -18.6% |
| Reserves | 13 | €87,745 | €98,575 | +€10,830 | +12.3% |
| Distributable reserves | 133 | €87,745 | €98,575 | +€10,830 | +12.3% |
| Profit (loss) carried forward | 14 | €28,981 | €24,371 | -€4,610 | -15.9% |
| Amounts payable | 17/49 | €7,177 | €7,911 | +€734 | +10.2% |
| Amounts payable within one year | 42/48 | €7,177 | €7,911 | +€734 | +10.2% |
| Taxes, remuneration and social security | 45 | €6,802 | €7,569 | +€767 | +11.3% |
| Taxes | 450/3 | €6,802 | €7,569 | +€767 | +11.3% |
| Other amounts payable | 47/48 | €375 | €342 | -€33 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,655 | €31,710 | -€4,944 | -13.5% |
| Other operating charges | 640/8 | €7,743 | €7,791 | +€48 | +0.6% |
| Gross operating margin | 9900 | €59,216 | €60,482 | +€1,266 | +2.1% |
| Operating profit (loss) | 9901 | €14,818 | €20,981 | +€6,163 | +41.6% |
| Financial charges | 65/66B | €104 | €105 | +€1 | +1.4% |
| Recurring financial charges | 65 | €104 | €105 | +€1 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €14,715 | €20,876 | +€6,161 | +41.9% |
| Income taxes | 67/77 | €5,913 | €7,656 | +€1,743 | +29.5% |
| Profit (loss) for the period | 9904 | €8,802 | €13,220 | +€4,418 | +50.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,802 | €13,220 | +€4,418 | +50.2% |
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 19 October 2026 via checked.be.