MARCUS ELEKTRIEK: what changed
MARCUS ELEKTRIEK
Largest movements
- Receivables within one year +€46,077
up €46,077 (+68.1%), from €67,658 to €113,735
of which Trade receivables: +€54,677
- Stocks and contracts +€39,500
new in 2026: €39,500
- Current investments -€33,501
down €33,501 (-21.2%), from €158,000 to €124,499
- Tangible fixed assets -€7,031
down €7,031 (-6.3%), from €111,313 to €104,282
of which Plant, machinery and equipment: -€9,573
- Cash +€6,309
up €6,309 (+2.9%), from €220,675 to €226,984
mainly Net result for the year (+€82,019) and Current investments (+€33,501)
- Reserves +€55,908
up €55,908 (+13.8%), from €404,391 to €460,300
- Other debts +€23,532
up €23,532 (+176%), from €13,344 to €36,876
- Debts after one year -€17,344
down €17,344 (-30.1%), from €57,568 to €40,224
- Trade debts -€14,241
down €14,241 (-25.3%), from €56,326 to €42,086
- Staff costs +€24,443
up €24,443 (+39.4%), from €62,072 to €86,515
- Gross operating margin -€17,136
down €17,136 (-6.6%), from €261,263 to €244,127
- Taxes -€12,706
down €12,706 (-23.9%), from €53,200 to €40,494
- Depreciation +€6,780
up €6,780 (+26.9%), from €25,213 to €31,993
- Financial income -€5,373
down €5,373 (-36.9%), from €14,561 to €9,187
of which Non-recurring financial income: -€8,471
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €557,645 | €608,999 | +€51,354 | +9.2% |
| Fixed assets | 21/28 | €111,313 | €104,282 | -€7,031 | -6.3% |
| Tangible fixed assets | 22/27 | €111,313 | €104,282 | -€7,031 | -6.3% |
| Plant, machinery and equipment | 23 | €26,911 | €17,338 | -€9,573 | -35.6% |
| Furniture and vehicles | 24 | €84,402 | €86,943 | +€2,542 | +3.0% |
| Current assets | 29/58 | €446,333 | €504,718 | +€58,385 | +13.1% |
| Stocks and contracts in progress | 3 | - | €39,500 | +€39,500 | |
| Contracts in progress | 37 | - | €39,500 | +€39,500 | |
| Amounts receivable within one year | 40/41 | €67,658 | €113,735 | +€46,077 | +68.1% |
| Trade receivables | 40 | €42,465 | €97,142 | +€54,677 | +129% |
| Other amounts receivable | 41 | €25,193 | €16,593 | -€8,600 | -34.1% |
| Current investments | 50/53 | €158,000 | €124,499 | -€33,501 | -21.2% |
| Cash at bank and in hand | 54/58 | €220,675 | €226,984 | +€6,309 | +2.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | -€0 | |
| Total equity and liabilities | 10/49 | €557,645 | €608,999 | +€51,354 | +9.2% |
| Equity | 10/15 | €410,591 | €466,500 | +€55,908 | +13.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €404,391 | €460,300 | +€55,908 | +13.8% |
| Distributable reserves | 133 | €404,391 | €460,300 | +€55,908 | +13.8% |
| Amounts payable | 17/49 | €147,054 | €142,499 | -€4,554 | -3.1% |
| Amounts payable after more than one year | 17 | €57,568 | €40,224 | -€17,344 | -30.1% |
| Financial debts | 170/4 | €57,568 | €40,224 | -€17,344 | -30.1% |
| Amounts payable within one year | 42/48 | €89,485 | €102,275 | +€12,790 | +14.3% |
| Current portion of amounts payable after more than one year | 42 | €16,617 | €17,344 | +€727 | +4.4% |
| Trade debts | 44 | €56,326 | €42,086 | -€14,241 | -25.3% |
| Suppliers | 440/4 | €56,326 | €42,086 | -€14,241 | -25.3% |
| Taxes, remuneration and social security | 45 | €3,198 | €5,969 | +€2,771 | +86.6% |
| Remuneration and social security | 454/9 | €3,198 | €5,969 | +€2,771 | +86.6% |
| Other amounts payable | 47/48 | €13,344 | €36,876 | +€23,532 | +176% |
| Remuneration, social security and pensions | 62 | €62,072 | €86,515 | +€24,443 | +39.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,213 | €31,993 | +€6,780 | +26.9% |
| Other operating charges | 640/8 | €8,005 | €5,930 | -€2,074 | -25.9% |
| Non-recurring operating charges | 66A | €2,072 | - | -€2,072 | |
| Gross operating margin | 9900 | €261,263 | €244,127 | -€17,136 | -6.6% |
| Operating profit (loss) | 9901 | €163,902 | €119,689 | -€44,213 | -27.0% |
| Financial income | 75/76B | €14,561 | €9,187 | -€5,373 | -36.9% |
| Recurring financial income | 75 | €6,090 | €9,187 | +€3,098 | +50.9% |
| Non-recurring financial income | 76B | €8,471 | - | -€8,471 | |
| Financial charges | 65/66B | €9,125 | €6,363 | -€2,762 | -30.3% |
| Recurring financial charges | 65 | €9,125 | €6,363 | -€2,762 | -30.3% |
| Profit (loss) for the period before taxes | 9903 | €169,338 | €122,513 | -€46,825 | -27.7% |
| Income taxes | 67/77 | €53,200 | €40,494 | -€12,706 | -23.9% |
| Profit (loss) for the period | 9904 | €116,139 | €82,019 | -€34,119 | -29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €116,139 | €82,019 | -€34,119 | -29.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.