MARCOLAC: 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.
MARCOLAC
Largest movements
- Receivables within one year +€21,665
up €21,665 (+102.6%), from €21,116 to €42,782
of which Trade receivables: +€20,484
- Cash -€16,915
down €16,915 (-87.1%), from €19,425 to €2,509
mainly Receivables within one year (-€21,665) and Net result for the year (-€8,446)
- Tangible fixed assets -€5,269
down €5,269 (-54.7%), from €9,642 to €4,372
of which Furniture and vehicles: -€5,427
- Stocks and contracts -€918
down €918 (-12.3%), from €7,473 to €6,555
- Trade debts +€9,594
up €9,594 (+22.3%), from €43,106 to €52,699
- Profit (loss) carried forward -€8,446
down €8,446 (-75.5%), from -€11,179 to -€19,625
- Other debts -€2,059
down €2,059 (-41.7%), from €4,943 to €2,884
- Gross operating margin -€12,935
down €12,935, from €11,299 to -€1,636
- Write-downs -€1,338
no longer reported in 2025 (was €1,338)
- Taxes -€624
no longer reported in 2025 (was €624)
- Other operating charges +€237
up €237 (+159.4%), from €149 to €386
- Depreciation +€197
up €197 (+3.2%), from €6,179 to €6,376
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 | €59,324 | €57,939 | -€1,385 | -2.3% |
| Fixed assets | 21/28 | €10,642 | €5,372 | -€5,269 | -49.5% |
| Tangible fixed assets | 22/27 | €9,642 | €4,372 | -€5,269 | -54.7% |
| Plant, machinery and equipment | 23 | €144 | €302 | +€158 | +109.4% |
| Furniture and vehicles | 24 | €9,497 | €4,070 | -€5,427 | -57.1% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €48,683 | €52,566 | +€3,884 | +8.0% |
| Stocks and contracts in progress | 3 | €7,473 | €6,555 | -€918 | -12.3% |
| Stocks | 30/36 | €7,473 | €6,555 | -€918 | -12.3% |
| Amounts receivable within one year | 40/41 | €21,116 | €42,782 | +€21,665 | +102.6% |
| Trade receivables | 40 | €20,808 | €41,292 | +€20,484 | +98.4% |
| Other amounts receivable | 41 | €308 | €1,489 | +€1,181 | +383.0% |
| Cash at bank and in hand | 54/58 | €19,425 | €2,509 | -€16,915 | -87.1% |
| Deferred charges and accrued income | 490/1 | €669 | €721 | +€52 | +7.7% |
| Total equity and liabilities | 10/49 | €59,324 | €57,939 | -€1,385 | -2.3% |
| Equity | 10/15 | €9,272 | €826 | -€8,446 | -91.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,179 | -€19,625 | -€8,446 | -75.5% |
| Amounts payable | 17/49 | €50,052 | €57,112 | +€7,060 | +14.1% |
| Amounts payable within one year | 42/48 | €48,673 | €56,208 | +€7,535 | +15.5% |
| Trade debts | 44 | €43,106 | €52,699 | +€9,594 | +22.3% |
| Suppliers | 440/4 | €43,106 | €52,699 | +€9,594 | +22.3% |
| Taxes, remuneration and social security | 45 | €624 | €624 | = | 0.0% |
| Taxes | 450/3 | €624 | €624 | = | 0.0% |
| Other amounts payable | 47/48 | €4,943 | €2,884 | -€2,059 | -41.7% |
| Accrued charges and deferred income | 492/3 | €1,379 | €905 | -€474 | -34.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,179 | €6,376 | +€197 | +3.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,338 | - | -€1,338 | |
| Other operating charges | 640/8 | €149 | €386 | +€237 | +159.4% |
| Gross operating margin | 9900 | €11,299 | -€1,636 | -€12,935 | |
| Operating profit (loss) | 9901 | €3,633 | -€8,398 | -€12,031 | |
| Financial income | 75/76B | €120 | €217 | +€97 | +80.5% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +354.2% |
| Non-recurring financial income | 76B | €120 | €216 | +€96 | +80.0% |
| Financial charges | 65/66B | €246 | €265 | +€18 | +7.5% |
| Recurring financial charges | 65 | €246 | €265 | +€18 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €3,507 | -€8,446 | -€11,953 | |
| Income taxes | 67/77 | €624 | - | -€624 | |
| Profit (loss) for the period | 9904 | €2,883 | -€8,446 | -€11,329 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,883 | -€8,446 | -€11,329 |
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 3 October 2026 via checked.be.