MARCOTTE: 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.
MARCOTTE
Largest movements
- Tangible fixed assets +€70,480
up €70,480 (+238%), from €29,582 to €100,062
of which Other tangible fixed assets: +€37,877
- Intangible fixed assets -€8,000
down €8,000 (-10.0%), from €80,000 to €72,000
- Receivables within one year +€7,572
up €7,572 (+1,523%), from €497 to €8,070
of which Other amounts receivable: +€4,360
- Cash +€7,380
new in 2025: €7,380
mainly Debts after one year (+€42,367) and Net result for the year (+€33,007)
- Debts after one year +€42,367
new in 2025: €42,367
- Profit (loss) carried forward +€33,007
up €33,007 (+76.4%), from -€43,181 to -€10,174
- Other debts -€16,725
down €16,725 (-12.5%), from €133,713 to €116,988
- Contributions +€12,600
new in 2025: €12,600
- Reserves -€12,600
down €12,600 (-91.0%), from €13,850 to €1,250
- Gross operating margin +€113,669
up €113,669, from -€16,796 to €96,873
- Staff costs +€36,873
new in 2025: €36,873
- Depreciation +€18,946
up €18,946 (+17,881%), from €106 to €19,052
- Taxes +€2,971
new in 2025: €2,971
- Financial charges +€1,844
up €1,844 (+207%), from €890 to €2,734
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 | €110,079 | €190,333 | +€80,254 | +72.9% |
| Fixed assets | 21/28 | €109,582 | €172,062 | +€62,480 | +57.0% |
| Intangible fixed assets | 21 | €80,000 | €72,000 | -€8,000 | -10.0% |
| Tangible fixed assets | 22/27 | €29,582 | €100,062 | +€70,480 | +238% |
| Plant, machinery and equipment | 23 | - | €2,547 | +€2,547 | |
| Furniture and vehicles | 24 | €3,582 | €33,638 | +€30,056 | +839% |
| Other tangible fixed assets | 26 | €26,000 | €63,877 | +€37,877 | +146% |
| Current assets | 29/58 | €497 | €18,271 | +€17,774 | +3,574% |
| Stocks and contracts in progress | 3 | - | €1,265 | +€1,265 | |
| Stocks | 30/36 | - | €1,265 | +€1,265 | |
| Amounts receivable within one year | 40/41 | €497 | €8,070 | +€7,572 | +1,523% |
| Trade receivables | 40 | - | €3,213 | +€3,213 | |
| Other amounts receivable | 41 | €497 | €4,857 | +€4,360 | +877% |
| Cash at bank and in hand | 54/58 | - | €7,380 | +€7,380 | |
| Deferred charges and accrued income | 490/1 | - | €1,556 | +€1,556 | |
| Total equity and liabilities | 10/49 | €110,079 | €190,333 | +€80,254 | +72.9% |
| Equity | 10/15 | -€29,331 | €3,676 | +€33,007 | |
| Contributions | 10/11 | - | €12,600 | +€12,600 | |
| Reserves | 13 | €13,850 | €1,250 | -€12,600 | -91.0% |
| Distributable reserves | 133 | €13,850 | €1,250 | -€12,600 | -91.0% |
| Profit (loss) carried forward | 14 | -€43,181 | -€10,174 | +€33,007 | +76.4% |
| Amounts payable | 17/49 | €139,410 | €186,657 | +€47,247 | +33.9% |
| Amounts payable after more than one year | 17 | - | €42,367 | +€42,367 | |
| Financial debts | 170/4 | - | €42,367 | +€42,367 | |
| Amounts payable within one year | 42/48 | €139,410 | €143,458 | +€4,047 | +2.9% |
| Current portion of amounts payable after more than one year | 42 | - | €10,892 | +€10,892 | |
| Financial debts | 43 | €4,889 | €3,430 | -€1,459 | -29.8% |
| Credit institutions | 430/8 | €4,889 | €3,430 | -€1,459 | -29.8% |
| Trade debts | 44 | €808 | €2,602 | +€1,793 | +222% |
| Suppliers | 440/4 | €808 | €2,602 | +€1,793 | +222% |
| Taxes, remuneration and social security | 45 | - | €9,545 | +€9,545 | |
| Taxes | 450/3 | - | €6,934 | +€6,934 | |
| Remuneration and social security | 454/9 | - | €2,611 | +€2,611 | |
| Other amounts payable | 47/48 | €133,713 | €116,988 | -€16,725 | -12.5% |
| Accrued charges and deferred income | 492/3 | - | €832 | +€832 | |
| Remuneration, social security and pensions | 62 | - | €36,873 | +€36,873 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106 | €19,052 | +€18,946 | +17,881% |
| Other operating charges | 640/8 | €832 | €2,239 | +€1,406 | +169% |
| Gross operating margin | 9900 | -€16,796 | €96,873 | +€113,669 | |
| Operating profit (loss) | 9901 | -€17,734 | €38,708 | +€56,443 | |
| Financial income | 75/76B | €1 | €4 | +€4 | +450% |
| Recurring financial income | 75 | €1 | €4 | +€4 | +450% |
| Financial charges | 65/66B | €890 | €2,734 | +€1,844 | +207% |
| Recurring financial charges | 65 | €890 | €2,734 | +€1,844 | +207% |
| Profit (loss) for the period before taxes | 9903 | -€18,624 | €35,978 | +€54,602 | |
| Income taxes | 67/77 | - | €2,971 | +€2,971 | |
| Profit (loss) for the period | 9904 | -€18,624 | €33,007 | +€51,631 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,624 | €33,007 | +€51,631 |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.