MARCHOUL: 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.
MARCHOUL
Largest movements
- Cash +€14,865
up €14,865 (+57.7%), from €25,782 to €40,647
mainly Net result for the year (+€12,463) and Depreciation (+€2,469)
- Tangible fixed assets -€1,527
down €1,527 (-49.5%), from €3,082 to €1,555
of which Furniture and vehicles: -€1,527
- Intangible fixed assets -€942
down €942 (-22.7%), from €4,148 to €3,206
- Receivables within one year -€716
down €716 (-100.0%), from €716 to €0
of which Trade receivables: -€716
- Profit (loss) carried forward +€9,963
up €9,963, from -€8,426 to €1,537
- Trade debts -€2,704
down €2,704 (-58.0%), from €4,665 to €1,961
- Reserves +€2,500
up €2,500 (+125.0%), from €2,000 to €4,500
- Tax, wage and social debts +€1,865
up €1,865 (+9.5%), from €19,650 to €21,516
of which Remuneration and social security: +€1,675
- Gross operating margin +€25,001
up €25,001 (+33.0%), from €75,831 to €100,832
- Staff costs +€4,080
up €4,080 (+5.5%), from €74,199 to €78,279
- Taxes +€3,337
up €3,337 (+114.6%), from €2,910 to €6,247
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 | €34,646 | €46,161 | +€11,515 | +33.2% |
| Fixed assets | 21/28 | €7,410 | €4,941 | -€2,469 | -33.3% |
| Intangible fixed assets | 21 | €4,148 | €3,206 | -€942 | -22.7% |
| Tangible fixed assets | 22/27 | €3,082 | €1,555 | -€1,527 | -49.5% |
| Furniture and vehicles | 24 | €3,082 | €1,555 | -€1,527 | -49.5% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €27,236 | €41,220 | +€13,984 | +51.3% |
| Amounts receivable within one year | 40/41 | €716 | €0 | -€716 | -100.0% |
| Trade receivables | 40 | €716 | €0 | -€716 | -100.0% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €25,782 | €40,647 | +€14,865 | +57.7% |
| Deferred charges and accrued income | 490/1 | €738 | €574 | -€165 | -22.3% |
| Total equity and liabilities | 10/49 | €34,646 | €46,161 | +€11,515 | +33.2% |
| Equity | 10/15 | €8,978 | €21,441 | +€12,463 | +138.8% |
| Contributions | 10/11 | €15,404 | €15,404 | = | 0.0% |
| Reserves | 13 | €2,000 | €4,500 | +€2,500 | +125.0% |
| Distributable reserves | 133 | €2,000 | €4,500 | +€2,500 | +125.0% |
| Profit (loss) carried forward | 14 | -€8,426 | €1,537 | +€9,963 | |
| Amounts payable | 17/49 | €25,669 | €24,720 | -€948 | -3.7% |
| Amounts payable within one year | 42/48 | €25,669 | €24,716 | -€953 | -3.7% |
| Trade debts | 44 | €4,665 | €1,961 | -€2,704 | -58.0% |
| Suppliers | 440/4 | €4,665 | €1,961 | -€2,704 | -58.0% |
| Taxes, remuneration and social security | 45 | €19,650 | €21,516 | +€1,865 | +9.5% |
| Taxes | 450/3 | €9,480 | €9,670 | +€190 | +2.0% |
| Remuneration and social security | 454/9 | €10,170 | €11,845 | +€1,675 | +16.5% |
| Other amounts payable | 47/48 | €1,354 | €1,239 | -€115 | -8.5% |
| Accrued charges and deferred income | 492/3 | €0 | €4 | +€4 | |
| Remuneration, social security and pensions | 62 | €74,199 | €78,279 | +€4,080 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,048 | €2,469 | +€422 | +20.6% |
| Other operating charges | 640/8 | €436 | €450 | +€14 | +3.2% |
| Gross operating margin | 9900 | €75,831 | €100,832 | +€25,001 | +33.0% |
| Operating profit (loss) | 9901 | -€851 | €19,633 | +€20,485 | |
| Financial income | 75/76B | €6 | €4 | -€2 | -38.4% |
| Recurring financial income | 75 | €6 | €4 | -€2 | -38.4% |
| Financial charges | 65/66B | €1,298 | €927 | -€371 | -28.6% |
| Recurring financial charges | 65 | €1,298 | €927 | -€371 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,144 | €18,710 | +€20,854 | |
| Income taxes | 67/77 | €2,910 | €6,247 | +€3,337 | +114.6% |
| Profit (loss) for the period | 9904 | -€5,054 | €12,463 | +€17,517 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,054 | €12,463 | +€17,517 |
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 11 October 2026 via checked.be.