MARCO SCHOUPS: 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.
MARCO SCHOUPS
Largest movements
- Receivables after one year +€159,227
up €159,227 (+26.2%), from €607,849 to €767,077
- Current investments +€144,254
up €144,254 (+41.9%), from €344,650 to €488,904
- Receivables within one year -€121,431
down €121,431 (-99.8%), from €121,686 to €255
of which Trade receivables: -€120,680
- Cash -€81,942
down €81,942 (-87.6%), from €93,543 to €11,601
mainly Contributions, distributions and other (-€159,646) and Receivables after one year (-€159,227)
- Reserves +€127,561
up €127,561 (+13.4%), from €950,583 to €1.1m
of which Distributable reserves: +€127,561
- Financial charges -€132,723
down €132,723, from €62,857 to -€69,866
- Gross operating margin -€66,613
down €66,613 (-17.4%), from €382,166 to €315,553
- Taxes -€4,921
down €4,921 (-4.2%), from €117,793 to €112,872
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,234,122 | €1,342,244 | +€108,122 | +8.8% |
| Fixed assets | 21/28 | €40,203 | €37,686 | -€2,517 | -6.3% |
| Tangible fixed assets | 22/27 | €40,203 | €37,686 | -€2,517 | -6.3% |
| Land and buildings | 22 | €19,596 | €18,586 | -€1,010 | -5.2% |
| Plant, machinery and equipment | 23 | €19,406 | €19,100 | -€306 | -1.6% |
| Furniture and vehicles | 24 | €1,201 | €0 | -€1,201 | -100% |
| Current assets | 29/58 | €1,193,919 | €1,304,558 | +€110,639 | +9.3% |
| Amounts receivable after more than one year | 29 | €607,849 | €767,077 | +€159,227 | +26.2% |
| Other amounts receivable | 291 | €607,849 | €767,077 | +€159,227 | +26.2% |
| Amounts receivable within one year | 40/41 | €121,686 | €255 | -€121,431 | -99.8% |
| Trade receivables | 40 | €120,680 | €0 | -€120,680 | -100% |
| Other amounts receivable | 41 | €1,005 | €255 | -€751 | -74.7% |
| Current investments | 50/53 | €344,650 | €488,904 | +€144,254 | +41.9% |
| Cash at bank and in hand | 54/58 | €93,543 | €11,601 | -€81,942 | -87.6% |
| Deferred charges and accrued income | 490/1 | €26,190 | €36,722 | +€10,531 | +40.2% |
| Total equity and liabilities | 10/49 | €1,234,122 | €1,342,244 | +€108,122 | +8.8% |
| Equity | 10/15 | €969,183 | €1,096,744 | +€127,561 | +13.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €950,583 | €1,078,144 | +€127,561 | +13.4% |
| Tax-exempt reserves | 132 | €9,160 | €9,160 | = | 0.0% |
| Distributable reserves | 133 | €941,423 | €1,068,984 | +€127,561 | +13.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €264,939 | €245,500 | -€19,439 | -7.3% |
| Amounts payable within one year | 42/48 | €264,444 | €245,500 | -€18,944 | -7.2% |
| Financial debts | 43 | - | €44 | +€44 | |
| Credit institutions | 430/8 | - | €44 | +€44 | |
| Trade debts | 44 | €16,252 | €2,860 | -€13,392 | -82.4% |
| Suppliers | 440/4 | €16,252 | €2,860 | -€13,392 | -82.4% |
| Taxes, remuneration and social security | 45 | €68,751 | €67,991 | -€760 | -1.1% |
| Taxes | 450/3 | €68,751 | €67,991 | -€760 | -1.1% |
| Other amounts payable | 47/48 | €179,441 | €174,605 | -€4,836 | -2.7% |
| Accrued charges and deferred income | 492/3 | €495 | €0 | -€495 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,247 | €2,517 | -€2,730 | -52.0% |
| Other operating charges | 640/8 | €1,905 | €2,095 | +€189 | +9.9% |
| Gross operating margin | 9900 | €382,166 | €315,553 | -€66,613 | -17.4% |
| Operating profit (loss) | 9901 | €375,014 | €310,941 | -€64,073 | -17.1% |
| Financial income | 75/76B | €19,012 | €19,273 | +€261 | +1.4% |
| Recurring financial income | 75 | €19,012 | €19,273 | +€261 | +1.4% |
| Financial charges | 65/66B | €62,857 | -€69,866 | -€132,723 | |
| Recurring financial charges | 65 | €62,857 | -€69,866 | -€132,723 | |
| Profit (loss) for the period before taxes | 9903 | €331,168 | €400,079 | +€68,911 | +20.8% |
| Income taxes | 67/77 | €117,793 | €112,872 | -€4,921 | -4.2% |
| Profit (loss) for the period | 9904 | €213,376 | €287,207 | +€73,832 | +34.6% |
| Profit (loss) for the period to be appropriated | 9905 | €213,376 | €287,207 | +€73,832 | +34.6% |
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 30 October 2026 via checked.be.