MARCONIERE: 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.
MARCONIERE
Largest movements
- Tangible fixed assets -€22,825
down €22,825 (-14.5%), from €156,892 to €134,067
of which Furniture and vehicles: -€14,275
- Receivables within one year +€7,543
up €7,543 (+24.2%), from €31,143 to €38,685
of which Other amounts receivable: +€7,474
- Debts after one year -€13,983
down €13,983 (-27.2%), from €51,381 to €37,398
- Tax, wage and social debts -€2,102
down €2,102 (-27.8%), from €7,557 to €5,455
- Gross operating margin -€24,513
down €24,513 (-47.9%), from €51,195 to €26,682
- Depreciation +€7,138
up €7,138 (+45.5%), from €15,688 to €22,825
- Taxes -€5,839
no longer reported in 2025 (was €5,839)
- Financial income +€1,022
up €1,022 (+107.2%), from €953 to €1,975
- Financial charges +€808
up €808 (+47.1%), from €1,715 to €2,523
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 | €188,040 | €172,787 | -€15,253 | -8.1% |
| Fixed assets | 21/28 | €156,892 | €134,067 | -€22,825 | -14.5% |
| Tangible fixed assets | 22/27 | €156,892 | €134,067 | -€22,825 | -14.5% |
| Land and buildings | 22 | €92,655 | €84,105 | -€8,550 | -9.2% |
| Furniture and vehicles | 24 | €64,238 | €49,963 | -€14,275 | -22.2% |
| Current assets | 29/58 | €31,148 | €38,720 | +€7,572 | +24.3% |
| Amounts receivable within one year | 40/41 | €31,143 | €38,685 | +€7,543 | +24.2% |
| Trade receivables | 40 | €799 | €868 | +€68 | +8.6% |
| Other amounts receivable | 41 | €30,344 | €37,818 | +€7,474 | +24.6% |
| Cash at bank and in hand | 54/58 | €5 | €34 | +€29 | +578.7% |
| Total equity and liabilities | 10/49 | €188,040 | €172,787 | -€15,253 | -8.1% |
| Equity | 10/15 | €114,037 | €113,119 | -€918 | -0.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €7,030 | €7,030 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,030 | €5,030 | = | 0.0% |
| Legal reserve | 130 | €5,030 | €5,030 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,507 | €44,589 | -€918 | -2.0% |
| Amounts payable | 17/49 | €74,004 | €59,668 | -€14,335 | -19.4% |
| Amounts payable after more than one year | 17 | €51,381 | €37,398 | -€13,983 | -27.2% |
| Financial debts | 170/4 | €51,381 | €37,398 | -€13,983 | -27.2% |
| Amounts payable within one year | 42/48 | €22,623 | €22,271 | -€352 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €13,457 | €13,983 | +€526 | +3.9% |
| Trade debts | 44 | €717 | €1,940 | +€1,223 | +170.7% |
| Suppliers | 440/4 | €717 | €1,940 | +€1,223 | +170.7% |
| Taxes, remuneration and social security | 45 | €7,557 | €5,455 | -€2,102 | -27.8% |
| Taxes | 450/3 | €7,557 | €5,455 | -€2,102 | -27.8% |
| Other amounts payable | 47/48 | €892 | €892 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,688 | €22,825 | +€7,138 | +45.5% |
| Other operating charges | 640/8 | €4,160 | €4,227 | +€68 | +1.6% |
| Gross operating margin | 9900 | €51,195 | €26,682 | -€24,513 | -47.9% |
| Operating profit (loss) | 9901 | €31,348 | -€370 | -€31,718 | |
| Financial income | 75/76B | €953 | €1,975 | +€1,022 | +107.2% |
| Recurring financial income | 75 | €953 | €1,975 | +€1,022 | +107.2% |
| Financial charges | 65/66B | €1,715 | €2,523 | +€808 | +47.1% |
| Recurring financial charges | 65 | €1,715 | €2,523 | +€808 | +47.1% |
| Profit (loss) for the period before taxes | 9903 | €30,587 | -€918 | -€31,505 | |
| Income taxes | 67/77 | €5,839 | - | -€5,839 | |
| Profit (loss) for the period | 9904 | €24,748 | -€918 | -€25,666 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,748 | -€918 | -€25,666 |
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.