Marchar: 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.
Marchar
Largest movements
- Receivables within one year +€42,925
up €42,925 (+170.9%), from €25,120 to €68,044
of which Other amounts receivable: +€23,552
- Cash +€32,470
up €32,470 (+353.2%), from €9,193 to €41,663
mainly Net result for the year (+€66,188) and Tax, wage and social debts (+€13,461)
- Tangible fixed assets +€4,654
up €4,654 (+35.2%), from €13,215 to €17,869
- Reserves +€66,188
up €66,188 (+231.7%), from €28,570 to €94,758
- Tax, wage and social debts +€13,461
up €13,461 (+71.3%), from €18,870 to €32,331
- Gross operating margin +€49,275
up €49,275 (+123.5%), from €39,894 to €89,169
- Taxes +€9,072
up €9,072 (+106.6%), from €8,511 to €17,583
- Depreciation +€2,776
up €2,776 (+118.8%), from €2,337 to €5,113
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 | €48,243 | €128,164 | +€79,921 | +165.7% |
| Fixed assets | 21/28 | €13,215 | €17,869 | +€4,654 | +35.2% |
| Tangible fixed assets | 22/27 | €13,215 | €17,869 | +€4,654 | +35.2% |
| Furniture and vehicles | 24 | €13,215 | €17,869 | +€4,654 | +35.2% |
| Current assets | 29/58 | €35,028 | €110,295 | +€75,267 | +214.9% |
| Amounts receivable within one year | 40/41 | €25,120 | €68,044 | +€42,925 | +170.9% |
| Trade receivables | 40 | €25,120 | €44,492 | +€19,372 | +77.1% |
| Other amounts receivable | 41 | - | €23,552 | +€23,552 | |
| Cash at bank and in hand | 54/58 | €9,193 | €41,663 | +€32,470 | +353.2% |
| Deferred charges and accrued income | 490/1 | €715 | €588 | -€128 | -17.9% |
| Total equity and liabilities | 10/49 | €48,243 | €128,164 | +€79,921 | +165.7% |
| Equity | 10/15 | €28,670 | €94,858 | +€66,188 | +230.9% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €28,570 | €94,758 | +€66,188 | +231.7% |
| Distributable reserves | 133 | €28,570 | €94,758 | +€66,188 | +231.7% |
| Amounts payable | 17/49 | €19,574 | €33,306 | +€13,732 | +70.2% |
| Amounts payable within one year | 42/48 | €19,574 | €33,306 | +€13,732 | +70.2% |
| Trade debts | 44 | €674 | €975 | +€301 | +44.7% |
| Suppliers | 440/4 | €674 | €975 | +€301 | +44.7% |
| Taxes, remuneration and social security | 45 | €18,870 | €32,331 | +€13,461 | +71.3% |
| Taxes | 450/3 | €18,870 | €32,331 | +€13,461 | +71.3% |
| Other amounts payable | 47/48 | €30 | - | -€30 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,337 | €5,113 | +€2,776 | +118.8% |
| Other operating charges | 640/8 | €442 | €733 | +€291 | +65.8% |
| Gross operating margin | 9900 | €39,894 | €89,169 | +€49,275 | +123.5% |
| Operating profit (loss) | 9901 | €37,114 | €83,323 | +€46,208 | +124.5% |
| Financial income | 75/76B | €0 | €582 | +€582 | +2912200.0% |
| Recurring financial income | 75 | €0 | €582 | +€582 | +2912200.0% |
| Financial charges | 65/66B | €34 | €134 | +€100 | +292.1% |
| Recurring financial charges | 65 | €34 | €134 | +€100 | +292.1% |
| Profit (loss) for the period before taxes | 9903 | €37,080 | €83,771 | +€46,691 | +125.9% |
| Income taxes | 67/77 | €8,511 | €17,583 | +€9,072 | +106.6% |
| Profit (loss) for the period | 9904 | €28,570 | €66,188 | +€37,619 | +131.7% |
| Profit (loss) for the period to be appropriated | 9905 | €28,570 | €66,188 | +€37,619 | +131.7% |
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 28 September 2026 via checked.be.