MARCHÔVENT: 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
MARCHÔVENT
NACE 35.110, Production of electricity from non-renewable sources
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€133,723
2024 · -€170,743+€304,466
Equity
€623,105
2024 · €577,882+€45,223
Cash
€588,463
2024 · €574,130+€14,333
Balance sheet total
€3.1m
2024 · €3.2m-€95,666
Largest movements
Assets
- Tangible fixed assets -€274,631
down €274,631 (-10.8%), from €2.5m to €2.3m
- Receivables within one year +€171,799
up €171,799 (+297%), from €57,810 to €229,610
of which Trade receivables: +€152,027
Equity and liabilities
- Debts after one year -€267,776
down €267,776 (-11.5%), from €2.3m to €2.1m
- Other debts +€88,500
new in 2025: €88,500
- Profit (loss) carried forward +€40,523
up €40,523, from -€40,508 to €15
- Tax, wage and social debts +€33,202
up €33,202 (+153%), from €21,749 to €54,951
Income statement
- Gross operating margin +€174,623
up €174,623 (+56.1%), from €311,367 to €485,990
- Taxes -€109,684
down €109,684 (-96.9%), from €113,222 to €3,538
- Financial income +€7,985
up €7,985 (+1,854%), from €431 to €8,416
- Other operating charges -€7,414
down €7,414 (-31.5%), from €23,543 to €16,129
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
-€170,743
Gross operating margin
+€174,623
Depreciation
-€3
Other operating charges
+€7,414
Financial income
+€7,985
Financial charges
+€4,764
Taxes
+€109,684
Result 2025
€133,723
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
+€364,744
Investment
€0
Financing
-€350,411
Cash 2024
€574,130
From operations (derived)
+€364,744
Net result for the year
+€133,723
Depreciation
+€281,798
Receivables within one year
-€171,799
Provisions
+€6,000
Trade debts
-€4,680
Tax, wage and social debts
+€33,202
Other debts
+€88,500
Accrued charges and deferred income
-€1,999
Financing
-€350,411
Debts after one year
-€267,776
Current portion of long-term debt
+€5,865
Contributions, distributions and other
-€88,500
Cash 2025
€588,463
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,239,469 | €3,143,803 | -€95,666 | -3.0% |
| Fixed assets | 21/28 | €2,601,458 | €2,319,659 | -€281,798 | -10.8% |
| Intangible fixed assets | 21 | €64,472 | €57,304 | -€7,167 | -11.1% |
| Tangible fixed assets | 22/27 | €2,536,986 | €2,262,355 | -€274,631 | -10.8% |
| Plant, machinery and equipment | 23 | €2,536,986 | €2,262,355 | -€274,631 | -10.8% |
| Current assets | 29/58 | €638,011 | €824,144 | +€186,132 | +29.2% |
| Amounts receivable within one year | 40/41 | €57,810 | €229,610 | +€171,799 | +297% |
| Trade receivables | 40 | €57,642 | €209,668 | +€152,027 | +264% |
| Other amounts receivable | 41 | €169 | €19,941 | +€19,773 | +11,730% |
| Cash at bank and in hand | 54/58 | €574,130 | €588,463 | +€14,333 | +2.5% |
| Deferred charges and accrued income | 490/1 | €6,072 | €6,072 | = | 0.0% |
| Total equity and liabilities | 10/49 | €3,239,469 | €3,143,803 | -€95,666 | -3.0% |
| Equity | 10/15 | €577,882 | €623,105 | +€45,223 | +7.8% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €18,390 | €23,090 | +€4,700 | +25.6% |
| Non-distributable reserves | 130/1 | €18,390 | €23,090 | +€4,700 | +25.6% |
| Legal reserve | 130 | €18,390 | €23,090 | +€4,700 | +25.6% |
| Profit (loss) carried forward | 14 | -€40,508 | €15 | +€40,523 | |
| Provisions and deferred taxes | 16 | €33,000 | €39,000 | +€6,000 | +18.2% |
| Provisions for liabilities and charges | 160/5 | €33,000 | €39,000 | +€6,000 | +18.2% |
| Major repairs and maintenance | 162 | €33,000 | €39,000 | +€6,000 | +18.2% |
| Amounts payable | 17/49 | €2,628,587 | €2,481,698 | -€146,889 | -5.6% |
| Amounts payable after more than one year | 17 | €2,321,069 | €2,053,293 | -€267,776 | -11.5% |
| Financial debts | 170/4 | €2,321,069 | €2,053,293 | -€267,776 | -11.5% |
| Amounts payable within one year | 42/48 | €288,949 | €411,835 | +€122,887 | +42.5% |
| Current portion of amounts payable after more than one year | 42 | €261,911 | €267,776 | +€5,865 | +2.2% |
| Trade debts | 44 | €5,289 | €608 | -€4,680 | -88.5% |
| Suppliers | 440/4 | €5,289 | €608 | -€4,680 | -88.5% |
| Taxes, remuneration and social security | 45 | €21,749 | €54,951 | +€33,202 | +153% |
| Taxes | 450/3 | €21,749 | €54,951 | +€33,202 | +153% |
| Other amounts payable | 47/48 | - | €88,500 | +€88,500 | |
| Accrued charges and deferred income | 492/3 | €18,569 | €16,570 | -€1,999 | -10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €281,795 | €281,798 | +€3 | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €6,000 | €6,000 | = | 0.0% |
| Other operating charges | 640/8 | €23,543 | €16,129 | -€7,414 | -31.5% |
| Gross operating margin | 9900 | €311,367 | €485,990 | +€174,623 | +56.1% |
| Operating profit (loss) | 9901 | €29 | €182,062 | +€182,034 | +635,371% |
| Financial income | 75/76B | €431 | €8,416 | +€7,985 | +1,854% |
| Recurring financial income | 75 | €431 | €8,416 | +€7,985 | +1,854% |
| Financial charges | 65/66B | €57,981 | €53,217 | -€4,764 | -8.2% |
| Recurring financial charges | 65 | €57,981 | €53,217 | -€4,764 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | -€57,522 | €137,261 | +€194,783 | |
| Income taxes | 67/77 | €113,222 | €3,538 | -€109,684 | -96.9% |
| Profit (loss) for the period | 9904 | -€170,743 | €133,723 | +€304,466 | |
| Profit (loss) for the period to be appropriated | 9905 | -€170,743 | €133,723 | +€304,466 |
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 27 October 2026 via checked.be.