MARCIVET: 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.
MARCIVET
Largest movements
- Cash +€110,541
up €110,541 (+155.7%), from €70,983 to €181,523
mainly Net result for the year (+€123,791) and Depreciation (+€20,490)
- Tangible fixed assets -€20,490
down €20,490 (-11.0%), from €185,848 to €165,358
of which Other tangible fixed assets: -€11,843
- Stocks and contracts +€18,526
up €18,526 (+82.1%), from €22,570 to €41,096
- Receivables within one year +€11,519
up €11,519 (+269.8%), from €4,270 to €15,789
of which Other amounts receivable: +€9,175
- Current investments +€4,976
up €4,976 (+10.0%), from €50,001 to €54,977
- Reserves +€123,791
up €123,791 (+88.1%), from €140,575 to €264,366
- Debts after one year -€12,109
down €12,109 (-10.3%), from €117,511 to €105,402
- Trade debts +€8,828
up €8,828 (+116.2%), from €7,595 to €16,423
- Staff costs +€17,902
up €17,902 (+76570.7%), from €23 to €17,926
- Gross operating margin -€14,683
down €14,683 (-6.8%), from €217,195 to €202,512
- Depreciation -€9,069
down €9,069 (-30.7%), from €29,558 to €20,490
- Taxes -€4,649
down €4,649 (-11.4%), from €40,730 to €36,081
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €335,587 | €460,565 | +€124,977 | +37.2% |
| Fixed assets | 21/28 | €186,948 | €166,458 | -€20,490 | -11.0% |
| Tangible fixed assets | 22/27 | €185,848 | €165,358 | -€20,490 | -11.0% |
| Land and buildings | 22 | €1,787 | €596 | -€1,191 | -66.7% |
| Plant, machinery and equipment | 23 | €9,168 | €7,706 | -€1,462 | -15.9% |
| Furniture and vehicles | 24 | €15,006 | €9,013 | -€5,993 | -39.9% |
| Other tangible fixed assets | 26 | €159,887 | €148,043 | -€11,843 | -7.4% |
| Financial fixed assets | 28 | €1,100 | €1,100 | = | 0.0% |
| Current assets | 29/58 | €148,640 | €294,107 | +€145,467 | +97.9% |
| Stocks and contracts in progress | 3 | €22,570 | €41,096 | +€18,526 | +82.1% |
| Stocks | 30/36 | €22,570 | €41,096 | +€18,526 | +82.1% |
| Amounts receivable within one year | 40/41 | €4,270 | €15,789 | +€11,519 | +269.8% |
| Trade receivables | 40 | - | €2,344 | +€2,344 | |
| Other amounts receivable | 41 | €4,270 | €13,445 | +€9,175 | +214.9% |
| Current investments | 50/53 | €50,001 | €54,977 | +€4,976 | +10.0% |
| Cash at bank and in hand | 54/58 | €70,983 | €181,523 | +€110,541 | +155.7% |
| Deferred charges and accrued income | 490/1 | €816 | €721 | -€95 | -11.7% |
| Total equity and liabilities | 10/49 | €335,587 | €460,565 | +€124,977 | +37.2% |
| Equity | 10/15 | €145,575 | €269,366 | +€123,791 | +85.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €140,575 | €264,366 | +€123,791 | +88.1% |
| Distributable reserves | 133 | €140,575 | €264,366 | +€123,791 | +88.1% |
| Amounts payable | 17/49 | €190,012 | €191,199 | +€1,187 | +0.6% |
| Amounts payable after more than one year | 17 | €117,511 | €105,402 | -€12,109 | -10.3% |
| Financial debts | 170/4 | €117,511 | €105,402 | -€12,109 | -10.3% |
| Amounts payable within one year | 42/48 | €72,304 | €85,619 | +€13,315 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €25,519 | €24,680 | -€838 | -3.3% |
| Trade debts | 44 | €7,595 | €16,423 | +€8,828 | +116.2% |
| Suppliers | 440/4 | €7,595 | €16,423 | +€8,828 | +116.2% |
| Taxes, remuneration and social security | 45 | €2,083 | €6,290 | +€4,208 | +202.0% |
| Taxes | 450/3 | €2,083 | €6,290 | +€4,208 | +202.0% |
| Other amounts payable | 47/48 | €37,108 | €38,225 | +€1,117 | +3.0% |
| Accrued charges and deferred income | 492/3 | €197 | €178 | -€19 | -9.9% |
| Remuneration, social security and pensions | 62 | €23 | €17,926 | +€17,902 | +76570.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,558 | €20,490 | -€9,069 | -30.7% |
| Other operating charges | 640/8 | €900 | €387 | -€513 | -57.0% |
| Gross operating margin | 9900 | €217,195 | €202,512 | -€14,683 | -6.8% |
| Operating profit (loss) | 9901 | €186,713 | €163,709 | -€23,004 | -12.3% |
| Financial income | 75/76B | €0 | €1,511 | +€1,511 | +3777950.0% |
| Recurring financial income | 75 | €0 | €1,511 | +€1,511 | +3777950.0% |
| Financial charges | 65/66B | €5,408 | €5,348 | -€60 | -1.1% |
| Recurring financial charges | 65 | €5,408 | €5,348 | -€60 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €181,305 | €159,872 | -€21,433 | -11.8% |
| Income taxes | 67/77 | €40,730 | €36,081 | -€4,649 | -11.4% |
| Profit (loss) for the period | 9904 | €140,575 | €123,791 | -€16,784 | -11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €140,575 | €123,791 | -€16,784 | -11.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.