MARCOBEL: 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.
MARCOBEL
Largest movements
- Cash -€235,647
down €235,647 (-94.3%), from €249,921 to €14,275
mainly Other debts (-€251,980) and Net result for the year (-€6,877)
- Receivables after one year -€25,000
down €25,000 (-100%), from €25,000 to €0
- Other debts -€251,980
down €251,980 (-85.5%), from €294,664 to €42,684
- Profit (loss) carried forward -€6,877
down €6,877 (-107%), from -€6,432 to -€13,309
- Financial charges -€922
down €922 (-14.1%), from €6,555 to €5,633
- Gross operating margin +€636
up €636 (+37.6%), from -€1,692 to -€1,056
- Financial income -€219
down €219 (-87.5%), from €250 to €31
- Other operating charges +€33
up €33 (+17.6%), from €186 to €219
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 | €296,733 | €36,118 | -€260,615 | -87.8% |
| Fixed assets | 21/28 | €20,000 | €20,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €20,000 | €20,000 | = | 0.0% |
| Land and buildings | 22 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €276,733 | €16,118 | -€260,615 | -94.2% |
| Amounts receivable after more than one year | 29 | €25,000 | €0 | -€25,000 | -100% |
| Other amounts receivable | 291 | €25,000 | €0 | -€25,000 | -100% |
| Amounts receivable within one year | 40/41 | €1,811 | €1,843 | +€31 | +1.7% |
| Other amounts receivable | 41 | €1,811 | €1,843 | +€31 | +1.7% |
| Cash at bank and in hand | 54/58 | €249,921 | €14,275 | -€235,647 | -94.3% |
| Total equity and liabilities | 10/49 | €296,733 | €36,118 | -€260,615 | -87.8% |
| Equity | 10/15 | -€232 | -€7,109 | -€6,877 | -2,961% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€6,432 | -€13,309 | -€6,877 | -107% |
| Amounts payable | 17/49 | €296,965 | €43,227 | -€253,738 | -85.4% |
| Amounts payable within one year | 42/48 | €296,965 | €43,227 | -€253,738 | -85.4% |
| Trade debts | 44 | €2,301 | €542 | -€1,759 | -76.4% |
| Suppliers | 440/4 | €2,301 | €542 | -€1,759 | -76.4% |
| Other amounts payable | 47/48 | €294,664 | €42,684 | -€251,980 | -85.5% |
| Other operating charges | 640/8 | €186 | €219 | +€33 | +17.6% |
| Gross operating margin | 9900 | -€1,692 | -€1,056 | +€636 | +37.6% |
| Operating profit (loss) | 9901 | -€1,878 | -€1,275 | +€603 | +32.1% |
| Financial income | 75/76B | €250 | €31 | -€219 | -87.5% |
| Recurring financial income | 75 | €250 | €31 | -€219 | -87.5% |
| Financial charges | 65/66B | €6,555 | €5,633 | -€922 | -14.1% |
| Recurring financial charges | 65 | €6,555 | €5,633 | -€922 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,184 | -€6,877 | +€1,307 | +16.0% |
| Profit (loss) for the period | 9904 | -€8,184 | -€6,877 | +€1,307 | +16.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,184 | -€6,877 | +€1,307 | +16.0% |
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 15 October 2026 via checked.be.