MARCHAND' BROS: 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.
MARCHAND' BROS
Largest movements
- Tangible fixed assets -€44,788
down €44,788 (-13.0%), from €344,289 to €299,501
of which Land and buildings: -€27,013
- Cash +€17,322
up €17,322 (+86.9%), from €19,942 to €37,264
mainly Depreciation (+€44,788) and Tax, wage and social debts (+€4,389)
- Debts after one year -€31,921
down €31,921 (-18.3%), from €174,538 to €142,617
- Tax, wage and social debts +€4,389
up €4,389 (+35.8%), from €12,271 to €16,660
of which Taxes: +€4,122
- Gross operating margin +€1,235
up €1,235 (+1.4%), from €88,671 to €89,906
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 | €377,689 | €353,341 | -€24,349 | -6.4% |
| Fixed assets | 21/28 | €344,339 | €299,551 | -€44,788 | -13.0% |
| Tangible fixed assets | 22/27 | €344,289 | €299,501 | -€44,788 | -13.0% |
| Land and buildings | 22 | €283,438 | €256,425 | -€27,013 | -9.5% |
| Plant, machinery and equipment | 23 | €54,081 | €39,187 | -€14,894 | -27.5% |
| Furniture and vehicles | 24 | €6,770 | €3,888 | -€2,882 | -42.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €33,350 | €53,790 | +€20,440 | +61.3% |
| Amounts receivable within one year | 40/41 | €13,408 | €15,922 | +€2,514 | +18.7% |
| Trade receivables | 40 | €12,912 | €6,654 | -€6,258 | -48.5% |
| Other amounts receivable | 41 | €496 | €9,268 | +€8,772 | +1,768% |
| Cash at bank and in hand | 54/58 | €19,942 | €37,264 | +€17,322 | +86.9% |
| Deferred charges and accrued income | 490/1 | - | €604 | +€604 | |
| Total equity and liabilities | 10/49 | €377,689 | €353,341 | -€24,349 | -6.4% |
| Equity | 10/15 | -€74,466 | -€71,054 | +€3,411 | +4.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94,466 | -€91,054 | +€3,411 | +3.6% |
| Amounts payable | 17/49 | €452,155 | €424,395 | -€27,760 | -6.1% |
| Amounts payable after more than one year | 17 | €174,538 | €142,617 | -€31,921 | -18.3% |
| Financial debts | 170/4 | €174,538 | €142,617 | -€31,921 | -18.3% |
| Amounts payable within one year | 42/48 | €277,066 | €281,228 | +€4,162 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €31,448 | €31,921 | +€474 | +1.5% |
| Trade debts | 44 | €679 | €142 | -€537 | -79.0% |
| Suppliers | 440/4 | €679 | €142 | -€537 | -79.0% |
| Taxes, remuneration and social security | 45 | €12,271 | €16,660 | +€4,389 | +35.8% |
| Taxes | 450/3 | €2,438 | €6,560 | +€4,122 | +169% |
| Remuneration and social security | 454/9 | €9,832 | €10,099 | +€267 | +2.7% |
| Other amounts payable | 47/48 | €232,669 | €232,504 | -€164 | -0.1% |
| Accrued charges and deferred income | 492/3 | €550 | €550 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €35,300 | €35,714 | +€414 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,461 | €44,788 | +€328 | +0.7% |
| Other operating charges | 640/8 | €3,134 | €3,224 | +€90 | +2.9% |
| Gross operating margin | 9900 | €88,671 | €89,906 | +€1,235 | +1.4% |
| Operating profit (loss) | 9901 | €5,777 | €6,179 | +€402 | +7.0% |
| Financial income | 75/76B | €0 | €43 | +€43 | +42,590% |
| Recurring financial income | 75 | €0 | €43 | +€43 | +42,590% |
| Financial charges | 65/66B | €3,483 | €2,810 | -€672 | -19.3% |
| Recurring financial charges | 65 | €3,483 | €2,810 | -€672 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €2,294 | €3,411 | +€1,117 | +48.7% |
| Profit (loss) for the period | 9904 | €2,294 | €3,411 | +€1,117 | +48.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,294 | €3,411 | +€1,117 | +48.7% |
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 24 October 2026 via checked.be.