MARCHAND-ROBIN: 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-ROBIN
Largest movements
- Receivables within one year -€62,869
down €62,869 (-67.1%), from €93,654 to €30,785
of which Trade receivables: -€66,918
- Cash +€24,641
up €24,641 (+23.1%), from €106,725 to €131,367
mainly Net result for the year (+€67,513) and Receivables within one year (+€62,869)
- Tangible fixed assets +€10,868
up €10,868 (+34.6%), from €31,416 to €42,284
of which Plant, machinery and equipment: +€11,257
- Trade debts -€79,970
down €79,970 (-63.9%), from €125,055 to €45,085
- Reserves +€50,473
up €50,473 (+65.2%), from €77,467 to €127,940
- Other debts +€15,758
up €15,758 (+240%), from €6,567 to €22,325
- Tax, wage and social debts -€12,453
down €12,453 (-70.8%), from €17,598 to €5,145
of which Taxes: -€13,948
- Taxes +€17,142
up €17,142 (+265%), from €6,461 to €23,602
- Gross operating margin +€10,684
up €10,684 (+10.8%), from €98,761 to €109,444
- Staff costs +€4,119
new in 2025: €4,119
- Other operating charges +€2,374
up €2,374 (+120%), from €1,985 to €4,360
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 | €234,259 | €206,696 | -€27,564 | -11.8% |
| Fixed assets | 21/28 | €31,781 | €42,854 | +€11,073 | +34.8% |
| Tangible fixed assets | 22/27 | €31,416 | €42,284 | +€10,868 | +34.6% |
| Plant, machinery and equipment | 23 | €30,443 | €41,700 | +€11,257 | +37.0% |
| Furniture and vehicles | 24 | €973 | €584 | -€389 | -40.0% |
| Financial fixed assets | 28 | €365 | €570 | +€205 | +56.2% |
| Current assets | 29/58 | €202,478 | €163,842 | -€38,636 | -19.1% |
| Stocks and contracts in progress | 3 | €2,099 | €1,342 | -€757 | -36.1% |
| Stocks | 30/36 | €2,099 | €1,342 | -€757 | -36.1% |
| Amounts receivable within one year | 40/41 | €93,654 | €30,785 | -€62,869 | -67.1% |
| Trade receivables | 40 | €93,631 | €26,713 | -€66,918 | -71.5% |
| Other amounts receivable | 41 | €23 | €4,072 | +€4,049 | +17,400% |
| Cash at bank and in hand | 54/58 | €106,725 | €131,367 | +€24,641 | +23.1% |
| Deferred charges and accrued income | 490/1 | - | €349 | +€349 | |
| Total equity and liabilities | 10/49 | €234,259 | €206,696 | -€27,564 | -11.8% |
| Equity | 10/15 | €83,667 | €134,140 | +€50,473 | +60.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €77,467 | €127,940 | +€50,473 | +65.2% |
| Distributable reserves | 133 | €77,467 | €127,940 | +€50,473 | +65.2% |
| Amounts payable | 17/49 | €150,592 | €72,555 | -€78,037 | -51.8% |
| Amounts payable within one year | 42/48 | €150,592 | €72,555 | -€78,037 | -51.8% |
| Trade debts | 44 | €125,055 | €45,085 | -€79,970 | -63.9% |
| Suppliers | 440/4 | €125,055 | €45,085 | -€79,970 | -63.9% |
| Advances received on contracts in progress | 46 | €1,373 | - | -€1,373 | |
| Taxes, remuneration and social security | 45 | €17,598 | €5,145 | -€12,453 | -70.8% |
| Taxes | 450/3 | €13,948 | - | -€13,948 | |
| Remuneration and social security | 454/9 | €3,650 | €5,145 | +€1,495 | +41.0% |
| Other amounts payable | 47/48 | €6,567 | €22,325 | +€15,758 | +240% |
| Remuneration, social security and pensions | 62 | - | €4,119 | +€4,119 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,423 | €9,196 | -€226 | -2.4% |
| Other operating charges | 640/8 | €1,985 | €4,360 | +€2,374 | +120% |
| Gross operating margin | 9900 | €98,761 | €109,444 | +€10,684 | +10.8% |
| Operating profit (loss) | 9901 | €87,353 | €91,769 | +€4,416 | +5.1% |
| Financial income | 75/76B | €100 | €335 | +€234 | +234% |
| Recurring financial income | 75 | €100 | €335 | +€234 | +234% |
| Financial charges | 65/66B | €1,106 | €988 | -€118 | -10.6% |
| Recurring financial charges | 65 | €1,106 | €988 | -€118 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €86,347 | €91,115 | +€4,768 | +5.5% |
| Income taxes | 67/77 | €6,461 | €23,602 | +€17,142 | +265% |
| Profit (loss) for the period | 9904 | €79,887 | €67,513 | -€12,374 | -15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €79,887 | €67,513 | -€12,374 | -15.5% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.