MARCHAND Stéphanie: 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 Stéphanie
Largest movements
- Tangible fixed assets +€8,548
up €8,548 (+36.6%), from €23,333 to €31,882
of which Furniture and vehicles: +€7,538
- Deferred charges and accrued income +€5,796
up €5,796 (+55.3%), from €10,488 to €16,284
- Cash -€3,971
down €3,971 (-51.2%), from €7,758 to €3,788
mainly Other debts (-€24,244) and Investment in fixed assets (net) (-€16,715)
- Receivables within one year +€3,123
new in 2025: €3,123
- Other debts -€24,244
no longer reported in 2025 (was €24,244)
- Debts after one year +€20,964
new in 2025: €20,964
- Profit (loss) carried forward +€11,506
up €11,506 (+116%), from €9,951 to €21,457
- Current portion of long-term debt +€9,555
new in 2025: €9,555
- Tax, wage and social debts -€4,048
no longer reported in 2025 (was €4,048)
- Gross operating margin +€9,070
up €9,070 (+57.9%), from €15,666 to €24,737
- Depreciation +€6,500
up €6,500 (+390%), from €1,667 to €8,166
- Financial charges +€1,228
new in 2025: €1,228
- Taxes -€913
down €913 (-22.6%), from €4,048 to €3,135
- Other operating charges +€762
new in 2025: €762
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 | €41,579 | €55,077 | +€13,498 | +32.5% |
| Fixed assets | 21/28 | €23,333 | €31,882 | +€8,548 | +36.6% |
| Tangible fixed assets | 22/27 | €23,333 | €31,882 | +€8,548 | +36.6% |
| Plant, machinery and equipment | 23 | - | €1,011 | +€1,011 | |
| Furniture and vehicles | 24 | €23,333 | €30,871 | +€7,538 | +32.3% |
| Current assets | 29/58 | €18,246 | €23,196 | +€4,949 | +27.1% |
| Amounts receivable within one year | 40/41 | - | €3,123 | +€3,123 | |
| Other amounts receivable | 41 | - | €3,123 | +€3,123 | |
| Cash at bank and in hand | 54/58 | €7,758 | €3,788 | -€3,971 | -51.2% |
| Deferred charges and accrued income | 490/1 | €10,488 | €16,284 | +€5,796 | +55.3% |
| Total equity and liabilities | 10/49 | €41,579 | €55,077 | +€13,498 | +32.5% |
| Equity | 10/15 | €12,951 | €24,457 | +€11,506 | +88.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,951 | €21,457 | +€11,506 | +116% |
| Amounts payable | 17/49 | €28,628 | €30,620 | +€1,992 | +7.0% |
| Amounts payable after more than one year | 17 | - | €20,964 | +€20,964 | |
| Financial debts | 170/4 | - | €20,964 | +€20,964 | |
| Amounts payable within one year | 42/48 | €28,628 | €9,630 | -€18,998 | -66.4% |
| Current portion of amounts payable after more than one year | 42 | - | €9,555 | +€9,555 | |
| Trade debts | 44 | €336 | €76 | -€260 | -77.4% |
| Suppliers | 440/4 | €336 | €76 | -€260 | -77.4% |
| Taxes, remuneration and social security | 45 | €4,048 | - | -€4,048 | |
| Taxes | 450/3 | €4,048 | - | -€4,048 | |
| Other amounts payable | 47/48 | €24,244 | - | -€24,244 | |
| Accrued charges and deferred income | 492/3 | - | €26 | +€26 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,667 | €8,166 | +€6,500 | +390% |
| Other operating charges | 640/8 | - | €762 | +€762 | |
| Gross operating margin | 9900 | €15,666 | €24,737 | +€9,070 | +57.9% |
| Operating profit (loss) | 9901 | €14,000 | €15,808 | +€1,808 | +12.9% |
| Financial income | 75/76B | - | €61 | +€61 | |
| Recurring financial income | 75 | - | €61 | +€61 | |
| Financial charges | 65/66B | - | €1,228 | +€1,228 | |
| Recurring financial charges | 65 | - | €1,228 | +€1,228 | |
| Profit (loss) for the period before taxes | 9903 | €14,000 | €14,642 | +€642 | +4.6% |
| Income taxes | 67/77 | €4,048 | €3,135 | -€913 | -22.6% |
| Profit (loss) for the period | 9904 | €9,951 | €11,506 | +€1,555 | +15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,951 | €11,506 | +€1,555 | +15.6% |
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 23 October 2026 via checked.be.