MARCO POLO QUALITY SERVICES: what changed
MARCO POLO QUALITY SERVICES
Largest movements
- Tangible fixed assets +€157,266
up €157,266 (+185%), from €84,953 to €242,219
of which Furniture and vehicles: +€158,152
- Cash -€39,410
down €39,410 (-81.3%), from €48,455 to €9,045
mainly Investment in fixed assets (net) (-€188,199) and Contributions, distributions and other (-€33,800)
- Receivables within one year -€23,871
down €23,871 (-53.6%), from €44,560 to €20,689
of which Trade receivables: -€27,708
- Current portion of long-term debt +€55,841
new in 2025: €55,841
- Debts after one year +€35,170
new in 2025: €35,170
- Reserves +€16,097
up €16,097 (+11.8%), from €136,475 to €152,572
- Tax, wage and social debts -€15,584
down €15,584 (-59.3%), from €26,294 to €10,710
- Gross operating margin +€14,763
up €14,763 (+16.7%), from €88,385 to €103,148
- Depreciation +€13,795
up €13,795 (+80.5%), from €17,138 to €30,934
- Taxes -€12,827
down €12,827 (-45.8%), from €28,027 to €15,200
- Financial charges +€5,802
up €5,802 (+879%), from €660 to €6,462
- Other operating charges -€1,196
down €1,196 (-64.6%), from €1,852 to €656
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €179,354 | €273,275 | +€93,921 | +52.4% |
| Fixed assets | 21/28 | €84,953 | €242,219 | +€157,266 | +185% |
| Tangible fixed assets | 22/27 | €84,953 | €242,219 | +€157,266 | +185% |
| Plant, machinery and equipment | 23 | €10,315 | €9,428 | -€887 | -8.6% |
| Furniture and vehicles | 24 | €74,639 | €232,791 | +€158,152 | +212% |
| Current assets | 29/58 | €94,401 | €31,056 | -€63,345 | -67.1% |
| Amounts receivable within one year | 40/41 | €44,560 | €20,689 | -€23,871 | -53.6% |
| Trade receivables | 40 | €42,485 | €14,778 | -€27,708 | -65.2% |
| Other amounts receivable | 41 | €2,075 | €5,912 | +€3,836 | +185% |
| Cash at bank and in hand | 54/58 | €48,455 | €9,045 | -€39,410 | -81.3% |
| Deferred charges and accrued income | 490/1 | €1,385 | €1,322 | -€63 | -4.6% |
| Total equity and liabilities | 10/49 | €179,354 | €273,275 | +€93,921 | +52.4% |
| Equity | 10/15 | €149,969 | €166,067 | +€16,097 | +10.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €136,475 | €152,572 | +€16,097 | +11.8% |
| Non-distributable reserves | 130/1 | €136,475 | €152,572 | +€16,097 | +11.8% |
| Legal reserve | 130 | €136,475 | €152,572 | +€16,097 | +11.8% |
| Profit (loss) carried forward | 14 | €1,094 | €1,094 | = | 0.0% |
| Amounts payable | 17/49 | €29,385 | €107,208 | +€77,823 | +265% |
| Amounts payable after more than one year | 17 | - | €35,170 | +€35,170 | |
| Financial debts | 170/4 | - | €35,170 | +€35,170 | |
| Amounts payable within one year | 42/48 | €29,385 | €71,928 | +€42,543 | +145% |
| Current portion of amounts payable after more than one year | 42 | - | €55,841 | +€55,841 | |
| Trade debts | 44 | €3,091 | €5,378 | +€2,287 | +74.0% |
| Suppliers | 440/4 | €3,091 | €5,378 | +€2,287 | +74.0% |
| Taxes, remuneration and social security | 45 | €26,294 | €10,710 | -€15,584 | -59.3% |
| Taxes | 450/3 | €26,294 | €10,710 | -€15,584 | -59.3% |
| Accrued charges and deferred income | 492/3 | - | €110 | +€110 | |
| Non-recurring operating income | 76A | - | €38,255 | +€38,255 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,138 | €30,934 | +€13,795 | +80.5% |
| Other operating charges | 640/8 | €1,852 | €656 | -€1,196 | -64.6% |
| Gross operating margin | 9900 | €88,385 | €103,148 | +€14,763 | +16.7% |
| Operating profit (loss) | 9901 | €69,395 | €71,558 | +€2,164 | +3.1% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €660 | €6,462 | +€5,802 | +879% |
| Recurring financial charges | 65 | €660 | €6,462 | +€5,802 | +879% |
| Profit (loss) for the period before taxes | 9903 | €68,735 | €65,097 | -€3,637 | -5.3% |
| Income taxes | 67/77 | €28,027 | €15,200 | -€12,827 | -45.8% |
| Profit (loss) for the period | 9904 | €40,708 | €49,897 | +€9,190 | +22.6% |
| Profit (loss) for the period to be appropriated | 9905 | €40,708 | €49,897 | +€9,190 | +22.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.