MARCOM WORLD: 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.
MARCOM WORLD
Largest movements
- Receivables within one year +€133,936
up €133,936 (+123%), from €109,220 to €243,156
of which Trade receivables: +€102,904
- Tangible fixed assets -€45,923
down €45,923 (-65.3%), from €70,328 to €24,405
- Cash -€44,196
down €44,196 (-15.2%), from €291,163 to €246,967
mainly Receivables within one year (-€133,936) and Debts after one year (-€13,709)
- Trade debts +€79,813
up €79,813 (+761%), from €10,485 to €90,298
- Accrued charges and deferred income +€16,697
up €16,697 (+7.4%), from €224,546 to €241,243
- Debts after one year -€13,709
down €13,709 (-54.6%), from €25,110 to €11,401
- Profit (loss) carried forward -€13,459
down €13,459 (-11.2%), from €120,543 to €107,084
- Tax, wage and social debts -€13,087
down €13,087 (-23.7%), from €55,285 to €42,198
of which Taxes: -€17,375
- Gross operating margin -€105,216
down €105,216 (-35.7%), from €294,906 to €189,690
- Financial income +€54,343
up €54,343 (+1,292%), from €4,205 to €58,548
of which Non-recurring financial income: +€55,401
- Financial charges -€22,657
down €22,657 (-90.8%), from €24,957 to €2,300
of which Non-recurring financial charges: -€21,151
- Taxes -€17,321
down €17,321 (-56.7%), from €30,552 to €13,231
- Staff costs +€11,308
up €11,308 (+7.5%), from €151,330 to €162,638
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 | €471,427 | €517,187 | +€45,760 | +9.7% |
| Fixed assets | 21/28 | €70,827 | €24,805 | -€46,022 | -65.0% |
| Tangible fixed assets | 22/27 | €70,328 | €24,405 | -€45,923 | -65.3% |
| Furniture and vehicles | 24 | €70,328 | €24,405 | -€45,923 | -65.3% |
| Financial fixed assets | 28 | €499 | €400 | -€99 | -19.8% |
| Current assets | 29/58 | €400,600 | €492,382 | +€91,782 | +22.9% |
| Amounts receivable within one year | 40/41 | €109,220 | €243,156 | +€133,936 | +123% |
| Trade receivables | 40 | €109,220 | €212,124 | +€102,904 | +94.2% |
| Other amounts receivable | 41 | - | €31,032 | +€31,032 | |
| Cash at bank and in hand | 54/58 | €291,163 | €246,967 | -€44,196 | -15.2% |
| Deferred charges and accrued income | 490/1 | €217 | €2,258 | +€2,042 | +943% |
| Total equity and liabilities | 10/49 | €471,427 | €517,187 | +€45,760 | +9.7% |
| Equity | 10/15 | €140,543 | €127,084 | -€13,459 | -9.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €120,543 | €107,084 | -€13,459 | -11.2% |
| Amounts payable | 17/49 | €330,884 | €390,103 | +€59,219 | +17.9% |
| Amounts payable after more than one year | 17 | €25,110 | €11,401 | -€13,709 | -54.6% |
| Financial debts | 170/4 | €25,110 | €11,401 | -€13,709 | -54.6% |
| Amounts payable within one year | 42/48 | €81,228 | €137,459 | +€56,231 | +69.2% |
| Current portion of amounts payable after more than one year | 42 | €14,852 | €4,963 | -€9,889 | -66.6% |
| Trade debts | 44 | €10,485 | €90,298 | +€79,813 | +761% |
| Suppliers | 440/4 | €10,485 | €90,298 | +€79,813 | +761% |
| Taxes, remuneration and social security | 45 | €55,285 | €42,198 | -€13,087 | -23.7% |
| Taxes | 450/3 | €43,753 | €26,379 | -€17,375 | -39.7% |
| Remuneration and social security | 454/9 | €11,532 | €15,820 | +€4,288 | +37.2% |
| Other amounts payable | 47/48 | €606 | - | -€606 | |
| Accrued charges and deferred income | 492/3 | €224,546 | €241,243 | +€16,697 | +7.4% |
| Non-recurring operating income | 76A | €12,522 | €6,544 | -€5,977 | -47.7% |
| Remuneration, social security and pensions | 62 | €151,330 | €162,638 | +€11,308 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,688 | €8,444 | -€7,245 | -46.2% |
| Other operating charges | 640/8 | €10,841 | €18,413 | +€7,571 | +69.8% |
| Non-recurring operating charges | 66A | - | €56,672 | +€56,672 | |
| Gross operating margin | 9900 | €294,906 | €189,690 | -€105,216 | -35.7% |
| Operating profit (loss) | 9901 | €117,046 | -€56,476 | -€173,522 | |
| Financial income | 75/76B | €4,205 | €58,548 | +€54,343 | +1,292% |
| Recurring financial income | 75 | €4,205 | €3,147 | -€1,058 | -25.2% |
| Non-recurring financial income | 76B | - | €55,401 | +€55,401 | |
| Financial charges | 65/66B | €24,957 | €2,300 | -€22,657 | -90.8% |
| Recurring financial charges | 65 | €3,806 | €2,300 | -€1,506 | -39.6% |
| Non-recurring financial charges | 66B | €21,151 | - | -€21,151 | |
| Profit (loss) for the period before taxes | 9903 | €96,294 | -€228 | -€96,522 | |
| Income taxes | 67/77 | €30,552 | €13,231 | -€17,321 | -56.7% |
| Profit (loss) for the period | 9904 | €65,742 | -€13,459 | -€79,202 | |
| Profit (loss) for the period to be appropriated | 9905 | €65,742 | -€13,459 | -€79,202 |
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 27 October 2026 via checked.be.