MARCOENSE CONSTRUCT: 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.
MARCOENSE CONSTRUCT
Largest movements
- Tangible fixed assets +€210,920
up €210,920 (+23357.7%), from €903 to €211,823
of which Land and buildings: +€211,397
- Receivables within one year +€13,766
up €13,766 (+13.3%), from €103,131 to €116,897
of which Trade receivables: +€13,579
- Cash +€5,349
up €5,349 (+137.6%), from €3,888 to €9,237
mainly Debts after one year (+€202,029) and Tax, wage and social debts (+€11,135)
- Debts after one year +€202,029
new in 2025: €202,029
- Tax, wage and social debts +€11,135
up €11,135 (+332.8%), from €3,346 to €14,481
of which Remuneration and social security: +€9,500
- Current portion of long-term debt +€10,939
new in 2025: €10,939
- Other debts +€6,111
up €6,111 (+114.4%), from €5,343 to €11,454
- Gross operating margin +€39,203
up €39,203 (+227.2%), from €17,257 to €56,460
- Other operating charges +€31,168
up €31,168 (+2175.0%), from €1,433 to €32,601
- Depreciation +€8,464
up €8,464 (+1376.3%), from €615 to €9,079
- Taxes +€1,289
up €1,289 (+69.8%), from €1,846 to €3,135
- Financial charges +€1,004
up €1,004 (+13.5%), from €7,456 to €8,460
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.
Cash bridge derived
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 | €108,000 | €338,035 | +€230,035 | +213.0% |
| Fixed assets | 21/28 | €981 | €211,901 | +€210,920 | +21500.6% |
| Tangible fixed assets | 22/27 | €903 | €211,823 | +€210,920 | +23357.7% |
| Land and buildings | 22 | - | €211,397 | +€211,397 | |
| Plant, machinery and equipment | 23 | €28 | - | -€28 | |
| Furniture and vehicles | 24 | €875 | €427 | -€448 | -51.2% |
| Financial fixed assets | 28 | €78 | €78 | = | 0.0% |
| Current assets | 29/58 | €107,019 | €126,134 | +€19,115 | +17.9% |
| Amounts receivable within one year | 40/41 | €103,131 | €116,897 | +€13,766 | +13.3% |
| Trade receivables | 40 | €102,172 | €115,751 | +€13,579 | +13.3% |
| Other amounts receivable | 41 | €959 | €1,145 | +€186 | +19.4% |
| Cash at bank and in hand | 54/58 | €3,888 | €9,237 | +€5,349 | +137.6% |
| Total equity and liabilities | 10/49 | €108,000 | €338,035 | +€230,035 | +213.0% |
| Equity | 10/15 | €27,717 | €30,901 | +€3,184 | +11.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,550 | - | -€18,550 | |
| Uncalled capital | 101 | €12,350 | - | -€12,350 | |
| Reserves | 13 | €1,500 | €1,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,500 | €1,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,017 | €23,201 | +€3,184 | +15.9% |
| Amounts payable | 17/49 | €80,283 | €307,134 | +€226,851 | +282.6% |
| Amounts payable after more than one year | 17 | - | €202,029 | +€202,029 | |
| Financial debts | 170/4 | - | €202,029 | +€202,029 | |
| Amounts payable within one year | 42/48 | €80,283 | €105,106 | +€24,823 | +30.9% |
| Current portion of amounts payable after more than one year | 42 | - | €10,939 | +€10,939 | |
| Trade debts | 44 | €71,594 | €68,231 | -€3,363 | -4.7% |
| Suppliers | 440/4 | €71,594 | €68,231 | -€3,363 | -4.7% |
| Taxes, remuneration and social security | 45 | €3,346 | €14,481 | +€11,135 | +332.8% |
| Taxes | 450/3 | €3,346 | €4,981 | +€1,635 | +48.9% |
| Remuneration and social security | 454/9 | - | €9,500 | +€9,500 | |
| Other amounts payable | 47/48 | €5,343 | €11,454 | +€6,111 | +114.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €615 | €9,079 | +€8,464 | +1376.3% |
| Other operating charges | 640/8 | €1,433 | €32,601 | +€31,168 | +2175.0% |
| Gross operating margin | 9900 | €17,257 | €56,460 | +€39,203 | +227.2% |
| Operating profit (loss) | 9901 | €15,209 | €14,780 | -€429 | -2.8% |
| Financial income | 75/76B | €36 | - | -€36 | |
| Recurring financial income | 75 | €36 | - | -€36 | |
| Financial charges | 65/66B | €7,456 | €8,460 | +€1,004 | +13.5% |
| Recurring financial charges | 65 | €7,456 | €8,460 | +€1,004 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €7,789 | €6,320 | -€1,469 | -18.9% |
| Income taxes | 67/77 | €1,846 | €3,135 | +€1,289 | +69.8% |
| Profit (loss) for the period | 9904 | €5,943 | €3,184 | -€2,759 | -46.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,943 | €3,184 | -€2,759 | -46.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.