MARCOLINI: 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.
MARCOLINI
Largest movements
- Stocks and contracts +€41,459
up €41,459 (+56.8%), from €73,026 to €114,485
- Tangible fixed assets +€15,415
up €15,415 (+43.1%), from €35,768 to €51,183
of which Furniture and vehicles: +€20,698
- Receivables within one year +€6,235
up €6,235 (+32.6%), from €19,105 to €25,340
of which Other amounts receivable: +€6,234
- Deferred charges and accrued income -€2,125
no longer reported in 2025 (was €2,125)
- Trade debts +€31,397
up €31,397 (+159%), from €19,756 to €51,153
- Advances received +€18,144
up €18,144 (+341%), from €5,323 to €23,467
- Debts after one year +€9,974
up €9,974 (+15.8%), from €62,998 to €72,972
- Current portion of long-term debt +€5,049
up €5,049 (+64.9%), from €7,783 to €12,832
- Profit (loss) carried forward -€3,307
down €3,307 (-14.8%), from -€22,312 to -€25,619
- Turnover +€70,879
up €70,879 (+38.9%), from €182,131 to €253,010
- Purchases and services +€49,246
up €49,246 (+38.5%), from €127,861 to €177,107
- Gross operating margin +€21,633
up €21,633 (+39.9%), from €54,270 to €75,903
- Staff costs +€17,904
up €17,904 (+57.2%), from €31,303 to €49,207
- Financial charges +€5,893
up €5,893 (+54.6%), from €10,802 to €16,695
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 | €132,138 | €193,302 | +€61,164 | +46.3% |
| Fixed assets | 21/28 | €37,690 | €53,155 | +€15,465 | +41.0% |
| Tangible fixed assets | 22/27 | €35,768 | €51,183 | +€15,415 | +43.1% |
| Land and buildings | 22 | €31,200 | €27,000 | -€4,200 | -13.5% |
| Plant, machinery and equipment | 23 | €2,887 | €1,804 | -€1,083 | -37.5% |
| Furniture and vehicles | 24 | €1,681 | €22,379 | +€20,698 | +1,231% |
| Financial fixed assets | 28 | €1,922 | €1,972 | +€50 | +2.6% |
| Current assets | 29/58 | €94,448 | €140,147 | +€45,699 | +48.4% |
| Stocks and contracts in progress | 3 | €73,026 | €114,485 | +€41,459 | +56.8% |
| Contracts in progress | 37 | €73,026 | €114,485 | +€41,459 | +56.8% |
| Amounts receivable within one year | 40/41 | €19,105 | €25,340 | +€6,235 | +32.6% |
| Trade receivables | 40 | €3,301 | €3,302 | +€1 | 0.0% |
| Other amounts receivable | 41 | €15,804 | €22,038 | +€6,234 | +39.4% |
| Cash at bank and in hand | 54/58 | €192 | €322 | +€130 | +67.7% |
| Deferred charges and accrued income | 490/1 | €2,125 | - | -€2,125 | |
| Total equity and liabilities | 10/49 | €132,138 | €193,302 | +€61,164 | +46.3% |
| Equity | 10/15 | €16,854 | €13,547 | -€3,307 | -19.6% |
| Contributions | 10/11 | €36,515 | €36,515 | = | 0.0% |
| Capital | 10 | €36,515 | €36,515 | = | 0.0% |
| Issued capital | 100 | €48,600 | €48,600 | = | 0.0% |
| Uncalled capital | 101 | €12,085 | €12,085 | = | 0.0% |
| Reserves | 13 | €2,651 | €2,651 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,651 | €2,651 | = | 0.0% |
| Legal reserve | 130 | €2,651 | €2,651 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,312 | -€25,619 | -€3,307 | -14.8% |
| Amounts payable | 17/49 | €115,284 | €179,755 | +€64,471 | +55.9% |
| Amounts payable after more than one year | 17 | €62,998 | €72,972 | +€9,974 | +15.8% |
| Financial debts | 170/4 | €62,998 | €72,972 | +€9,974 | +15.8% |
| Amounts payable within one year | 42/48 | €52,286 | €106,783 | +€54,497 | +104% |
| Current portion of amounts payable after more than one year | 42 | €7,783 | €12,832 | +€5,049 | +64.9% |
| Financial debts | 43 | €12,255 | €14,624 | +€2,369 | +19.3% |
| Credit institutions | 430/8 | €12,255 | €14,624 | +€2,369 | +19.3% |
| Trade debts | 44 | €19,756 | €51,153 | +€31,397 | +159% |
| Suppliers | 440/4 | €19,756 | €51,153 | +€31,397 | +159% |
| Advances received on contracts in progress | 46 | €5,323 | €23,467 | +€18,144 | +341% |
| Taxes, remuneration and social security | 45 | €7,169 | €4,707 | -€2,462 | -34.3% |
| Taxes | 450/3 | €6,414 | €4,707 | -€1,707 | -26.6% |
| Remuneration and social security | 454/9 | €755 | - | -€755 | |
| Turnover | 70 | €182,131 | €253,010 | +€70,879 | +38.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €127,861 | €177,107 | +€49,246 | +38.5% |
| Remuneration, social security and pensions | 62 | €31,303 | €49,207 | +€17,904 | +57.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,244 | €9,352 | +€3,108 | +49.8% |
| Other operating charges | 640/8 | €595 | €1,389 | +€794 | +133% |
| Non-recurring operating charges | 66A | €284 | €1,937 | +€1,653 | +582% |
| Gross operating margin | 9900 | €54,270 | €75,903 | +€21,633 | +39.9% |
| Operating profit (loss) | 9901 | €15,844 | €14,018 | -€1,826 | -11.5% |
| Financial income | 75/76B | €611 | €859 | +€248 | +40.6% |
| Recurring financial income | 75 | €611 | €859 | +€248 | +40.6% |
| Non-recurring financial income | 76B | €611 | - | -€611 | |
| Financial charges | 65/66B | €10,802 | €16,695 | +€5,893 | +54.6% |
| Recurring financial charges | 65 | €10,802 | €16,695 | +€5,893 | +54.6% |
| Profit (loss) for the period before taxes | 9903 | €5,653 | -€1,818 | -€7,471 | |
| Income taxes | 67/77 | €3,159 | €1,489 | -€1,670 | -52.9% |
| Profit (loss) for the period | 9904 | €2,494 | -€3,307 | -€5,801 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,494 | -€3,307 | -€5,801 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.