MARCOSO: 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.
MARCOSO
Largest movements
- Cash +€31,100
up €31,100 (+18.9%), from €164,225 to €195,325
mainly Other debts (+€142,291) and Net result for the year (+€48,446)
- Receivables within one year -€13,009
down €13,009 (-23.1%), from €56,403 to €43,395
of which Other amounts receivable: -€8,503
- Tangible fixed assets -€11,029
down €11,029 (-26.2%), from €42,154 to €31,125
of which Furniture and vehicles: -€11,029
- Current investments +€3,396
up €3,396 (+56.6%), from €6,000 to €9,396
- Reserves -€143,428
down €143,428 (-74.8%), from €191,873 to €48,446
of which Distributable reserves: -€143,428
- Other debts +€142,291
up €142,291 (+475.8%), from €29,905 to €172,197
- Tax, wage and social debts +€22,040
up €22,040 (+156.1%), from €14,119 to €36,159
- Trade debts -€10,136
down €10,136 (-65.9%), from €15,372 to €5,236
- Gross operating margin +€15,613
up €15,613 (+27.4%), from €56,916 to €72,530
- Taxes +€3,630
up €3,630 (+39.3%), from €9,235 to €12,865
- Financial income +€1,697
up €1,697 (+1137.1%), from €149 to €1,847
- Depreciation -€865
down €865 (-7.3%), from €11,895 to €11,029
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 | €271,270 | €282,037 | +€10,768 | +4.0% |
| Fixed assets | 21/28 | €42,554 | €31,525 | -€11,029 | -25.9% |
| Tangible fixed assets | 22/27 | €42,154 | €31,125 | -€11,029 | -26.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €39,704 | €28,675 | -€11,029 | -27.8% |
| Other tangible fixed assets | 26 | €2,450 | €2,450 | = | 0.0% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €228,716 | €250,513 | +€21,797 | +9.5% |
| Amounts receivable within one year | 40/41 | €56,403 | €43,395 | -€13,009 | -23.1% |
| Trade receivables | 40 | €45,645 | €41,139 | -€4,506 | -9.9% |
| Other amounts receivable | 41 | €10,758 | €2,255 | -€8,503 | -79.0% |
| Current investments | 50/53 | €6,000 | €9,396 | +€3,396 | +56.6% |
| Cash at bank and in hand | 54/58 | €164,225 | €195,325 | +€31,100 | +18.9% |
| Deferred charges and accrued income | 490/1 | €2,088 | €2,397 | +€309 | +14.8% |
| Total equity and liabilities | 10/49 | €271,270 | €282,037 | +€10,768 | +4.0% |
| Equity | 10/15 | €211,873 | €68,446 | -€143,428 | -67.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €191,873 | €48,446 | -€143,428 | -74.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €191,873 | €48,446 | -€143,428 | -74.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €59,396 | €213,592 | +€154,195 | +259.6% |
| Amounts payable within one year | 42/48 | €59,396 | €213,592 | +€154,195 | +259.6% |
| Trade debts | 44 | €15,372 | €5,236 | -€10,136 | -65.9% |
| Suppliers | 440/4 | €15,372 | €5,236 | -€10,136 | -65.9% |
| Taxes, remuneration and social security | 45 | €14,119 | €36,159 | +€22,040 | +156.1% |
| Taxes | 450/3 | €14,119 | €36,159 | +€22,040 | +156.1% |
| Other amounts payable | 47/48 | €29,905 | €172,197 | +€142,291 | +475.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,895 | €11,029 | -€865 | -7.3% |
| Other operating charges | 640/8 | €1,517 | €1,136 | -€381 | -25.1% |
| Gross operating margin | 9900 | €56,916 | €72,530 | +€15,613 | +27.4% |
| Operating profit (loss) | 9901 | €43,505 | €60,365 | +€16,860 | +38.8% |
| Financial income | 75/76B | €149 | €1,847 | +€1,697 | +1137.1% |
| Recurring financial income | 75 | €149 | €1,847 | +€1,697 | +1137.1% |
| Financial charges | 65/66B | €1,296 | €901 | -€396 | -30.5% |
| Recurring financial charges | 65 | €1,296 | €901 | -€396 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | €42,358 | €61,311 | +€18,953 | +44.7% |
| Income taxes | 67/77 | €9,235 | €12,865 | +€3,630 | +39.3% |
| Profit (loss) for the period | 9904 | €33,123 | €48,446 | +€15,323 | +46.3% |
| Profit (loss) for the period to be appropriated | 9905 | €33,123 | €48,446 | +€15,323 | +46.3% |
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 5 October 2026 via checked.be.