MARCHANDISE-BOURDON: what changed
Two fiscal 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.
MARCHANDISE-BOURDON
Largest movements
- Cash -€52,288
down €52,288 (-50.8%), from €102,957 to €50,668
mainly Other debts (-€39,032) and Receivables within one year (-€12,362)
- Receivables within one year +€12,362
new in 2025: €12,362
- Tangible fixed assets -€11,424
down €11,424 (-34.6%), from €33,026 to €21,602
of which Furniture and vehicles: -€9,626
- Other debts -€39,032
no longer reported in 2025 (was €39,032)
- Profit (loss) carried forward -€8,781
down €8,781 (-109.1%), from -€8,048 to -€16,829
- Trade debts -€1,881
down €1,881 (-87.5%), from €2,151 to €270
- Tax, wage and social debts -€1,437
down €1,437 (-15.5%), from €9,288 to €7,851
of which Taxes: -€2,091
- Gross operating margin -€79,049
down €79,049 (-93.8%), from €84,314 to €5,265
- Taxes -€24,082
down €24,082 (-97.9%), from €24,597 to €515
- Depreciation -€1,628
down €1,628 (-12.5%), from €13,053 to €11,424
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.
Cash bridge derived
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 | €135,983 | €84,852 | -€51,131 | -37.6% |
| Fixed assets | 21/28 | €33,026 | €21,602 | -€11,424 | -34.6% |
| Tangible fixed assets | 22/27 | €33,026 | €21,602 | -€11,424 | -34.6% |
| Land and buildings | 22 | €1,210 | €518 | -€691 | -57.2% |
| Plant, machinery and equipment | 23 | €3,832 | €2,726 | -€1,107 | -28.9% |
| Furniture and vehicles | 24 | €27,985 | €18,358 | -€9,626 | -34.4% |
| Current assets | 29/58 | €102,957 | €63,250 | -€39,707 | -38.6% |
| Amounts receivable within one year | 40/41 | - | €12,362 | +€12,362 | |
| Other amounts receivable | 41 | - | €12,362 | +€12,362 | |
| Cash at bank and in hand | 54/58 | €102,957 | €50,668 | -€52,288 | -50.8% |
| Deferred charges and accrued income | 490/1 | - | €219 | +€219 | |
| Total equity and liabilities | 10/49 | €135,983 | €84,852 | -€51,131 | -37.6% |
| Equity | 10/15 | €85,512 | €76,731 | -€8,781 | -10.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €87,360 | €87,360 | = | 0.0% |
| Distributable reserves | 133 | €87,360 | €87,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,048 | -€16,829 | -€8,781 | -109.1% |
| Amounts payable | 17/49 | €50,471 | €8,121 | -€42,350 | -83.9% |
| Amounts payable within one year | 42/48 | €50,471 | €8,121 | -€42,350 | -83.9% |
| Trade debts | 44 | €2,151 | €270 | -€1,881 | -87.5% |
| Suppliers | 440/4 | €2,151 | €270 | -€1,881 | -87.5% |
| Taxes, remuneration and social security | 45 | €9,288 | €7,851 | -€1,437 | -15.5% |
| Taxes | 450/3 | €6,741 | €4,650 | -€2,091 | -31.0% |
| Remuneration and social security | 454/9 | €2,547 | €3,201 | +€654 | +25.7% |
| Other amounts payable | 47/48 | €39,032 | - | -€39,032 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,053 | €11,424 | -€1,628 | -12.5% |
| Other operating charges | 640/8 | €2,601 | €2,243 | -€358 | -13.8% |
| Gross operating margin | 9900 | €84,314 | €5,265 | -€79,049 | -93.8% |
| Operating profit (loss) | 9901 | €68,661 | -€8,402 | -€77,063 | |
| Financial income | 75/76B | €88 | €220 | +€132 | +150.9% |
| Recurring financial income | 75 | €88 | €220 | +€132 | +150.9% |
| Financial charges | 65/66B | €92 | €84 | -€8 | -8.8% |
| Recurring financial charges | 65 | €92 | €84 | -€8 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €68,657 | -€8,266 | -€76,923 | |
| Income taxes | 67/77 | €24,597 | €515 | -€24,082 | -97.9% |
| Profit (loss) for the period | 9904 | €44,059 | -€8,781 | -€52,840 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,059 | -€8,781 | -€52,840 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.