MARCHMAIN INVEST: 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.
What changed
MARCHMAIN INVEST
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€12.7m
2024 · €1.3m+€11.4m
Equity
€81.9m
2024 · €69.2m+€12.7m
Cash
€20.0m
2024 · €16.3m+€3.7m
Balance sheet total
€103.9m
2024 · €91.4m+€12.5m
Largest movements
Assets
- Current investments +€10.3m
up €10.3m (+18.4%), from €56.2m to €66.5m
- Cash +€3.7m
up €3.7m (+22.4%), from €16.3m to €20.0m
mainly Net result for the year (+€12.7m) and Investment in fixed assets (net) (+€2.0m)
- Financial fixed assets -€2.0m
down €2.0m (-10.8%), from €18.3m to €16.4m
of which Other financial fixed assets: -€1.8m
Equity and liabilities
- Reserves +€12.7m
up €12.7m (+18.4%), from €68.9m to €81.7m
of which Distributable reserves: +€12.7m
Income statement
- Financial income +€12.5m
up €12.5m (+321%), from €3.9m to €16.4m
- Financial charges +€1.4m
up €1.4m (+79.1%), from €1.7m to €3.1m
- Taxes -€219,593
down €219,593 (-45.0%), from €488,027 to €268,434
- Turnover +€58,696
new in 2025: €58,696
- Staff costs +€32,463
up €32,463 (+111%), from €29,160 to €61,623
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.
Result 2024
€1.3m
Turnover
+€58,696
Other operating income
+€8,045
Services and other goods
-€20,687
Staff costs
-€32,463
Depreciation
-€761
Other operating charges
+€62
Financial income
+€12.5m
Financial charges
-€1.4m
Taxes
+€219,593
Result 2025
€12.7m
raises the resultlowers the result
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.
From operations
+€12.0m
Investment
-€8.3m
Financing
€0
Cash 2024
€16.3m
From operations (derived)
+€12.0m
Net result for the year
+€12.7m
Depreciation
+€18,872
Receivables within one year
-€583,658
Deferred charges and accrued income
+€54,876
Smaller working-capital items
+€4,904
Tax, wage and social debts
-€166,659
Accrued charges and deferred income
-€33,769
Investment (derived)
-€8.3m
Investment in fixed assets (net)
+€2.0m
Current investments
-€10.3m
Cash 2025
€20.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €91,401,312 | €103,917,642 | +€12.5m | +13.7% |
| Fixed assets | 21/28 | €18,390,909 | €16,395,060 | -€2.0m | -10.9% |
| Tangible fixed assets | 22/27 | €59,635 | €44,262 | -€15,372 | -25.8% |
| Furniture and vehicles | 24 | €59,635 | €44,262 | -€15,372 | -25.8% |
| Financial fixed assets | 28 | €18,331,274 | €16,350,798 | -€2.0m | -10.8% |
| Affiliated companies | 280/1 | €16,214,260 | €16,064,260 | -€150,000 | -0.9% |
| Participating interests | 280 | €14,462,471 | €14,462,471 | = | 0.0% |
| Amounts receivable | 281 | €1,751,789 | €1,601,789 | -€150,000 | -8.6% |
| Other financial fixed assets | 284/8 | €2,117,015 | €286,538 | -€1.8m | -86.5% |
| Amounts receivable and cash guarantees | 285/8 | €2,117,015 | €286,538 | -€1.8m | -86.5% |
| Current assets | 29/58 | €73,010,403 | €87,522,582 | +€14.5m | +19.9% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €341,084 | €924,742 | +€583,658 | +171% |
| Trade receivables | 40 | - | €37,500 | +€37,500 | |
| Other amounts receivable | 41 | €341,084 | €887,242 | +€546,158 | +160% |
| Current investments | 50/53 | €56,219,522 | €66,543,836 | +€10.3m | +18.4% |
| Other investments | 51/53 | €56,219,522 | €66,543,836 | +€10.3m | +18.4% |
| Cash at bank and in hand | 54/58 | €16,343,814 | €20,002,898 | +€3.7m | +22.4% |
| Deferred charges and accrued income | 490/1 | €105,983 | €51,106 | -€54,876 | -51.8% |
| Total equity and liabilities | 10/49 | €91,401,312 | €103,917,642 | +€12.5m | +13.7% |
| Equity | 10/15 | €69,176,592 | €81,888,446 | +€12.7m | +18.4% |
| Contributions | 10/11 | €234,000 | €234,000 | = | 0.0% |
| Capital | 10 | €234,000 | €234,000 | = | 0.0% |
| Issued capital | 100 | €234,000 | €234,000 | = | 0.0% |
| Reserves | 13 | €68,942,592 | €81,654,446 | +€12.7m | +18.4% |
| Non-distributable reserves | 130/1 | €910,513 | €910,513 | = | 0.0% |
| Legal reserve | 130 | €910,513 | €910,513 | = | 0.0% |
| Distributable reserves | 133 | €68,032,079 | €80,743,933 | +€12.7m | +18.7% |
| Amounts payable | 17/49 | €22,224,720 | €22,029,196 | -€195,524 | -0.9% |
| Amounts payable after more than one year | 17 | €22,000,000 | €22,000,000 | = | 0.0% |
| Financial debts | 170/4 | €22,000,000 | €22,000,000 | = | 0.0% |
| Other loans | 174 | €22,000,000 | €22,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €190,951 | €29,196 | -€161,755 | -84.7% |
| Trade debts | 44 | €1,031 | €5,821 | +€4,790 | +465% |
| Suppliers | 440/4 | €1,031 | €5,821 | +€4,790 | +465% |
| Taxes, remuneration and social security | 45 | €185,939 | €19,280 | -€166,659 | -89.6% |
| Taxes | 450/3 | €181,516 | €7,070 | -€174,445 | -96.1% |
| Remuneration and social security | 454/9 | €4,424 | €12,210 | +€7,786 | +176% |
| Other amounts payable | 47/48 | €3,981 | €4,095 | +€114 | +2.9% |
| Accrued charges and deferred income | 492/3 | €33,769 | €0 | -€33,769 | -100% |
| Operating income | 70/76A | €54,829 | €121,570 | +€66,741 | +122% |
| Turnover | 70 | - | €58,696 | +€58,696 | |
| Other operating income | 74 | €54,829 | €62,874 | +€8,045 | +14.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €400,273 | €454,121 | +€53,848 | +13.5% |
| Services and other goods | 61 | €351,762 | €372,448 | +€20,687 | +5.9% |
| Remuneration, social security and pensions | 62 | €29,160 | €61,623 | +€32,463 | +111% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,111 | €18,872 | +€761 | +4.2% |
| Other operating charges | 640/8 | €1,240 | €1,178 | -€62 | -5.0% |
| Operating profit (loss) | 9901 | -€345,444 | -€332,551 | +€12,892 | +3.7% |
| Financial income | 75/76B | €3,898,801 | €16,396,399 | +€12.5m | +321% |
| Recurring financial income | 75 | €3,898,801 | €16,396,399 | +€12.5m | +321% |
| Income from financial fixed assets | 750 | €55,496 | €50,233 | -€5,264 | -9.5% |
| Income from current assets | 751 | €2,723,860 | €3,650,318 | +€926,458 | +34.0% |
| Other financial income | 752/9 | €1,119,445 | €12,695,849 | +€11.6m | +1,034% |
| Financial charges | 65/66B | €1,721,625 | €3,083,560 | +€1.4m | +79.1% |
| Recurring financial charges | 65 | €1,721,625 | €3,083,560 | +€1.4m | +79.1% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €0 | - | = | |
| Other financial charges | 652/9 | €1,721,625 | €3,083,560 | +€1.4m | +79.1% |
| Profit (loss) for the period before taxes | 9903 | €1,831,732 | €12,980,288 | +€11.1m | +609% |
| Income taxes | 67/77 | €488,027 | €268,434 | -€219,593 | -45.0% |
| Taxes | 670/3 | €488,027 | €268,434 | -€219,593 | -45.0% |
| Profit (loss) for the period | 9904 | €1,343,706 | €12,711,854 | +€11.4m | +846% |
| Profit (loss) for the period to be appropriated | 9905 | €1,343,706 | €12,711,854 | +€11.4m | +846% |
Source: filed annual accounts (NBB), financial years ended 21 August 2024 and 21 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.