MARECHAL BEHEER: 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.
MARECHAL BEHEER
Largest movements
- Cash +€9,836
up €9,836 (+39.4%), from €24,952 to €34,788
mainly Receivables within one year (+€5,130) and Depreciation (+€4,875)
- Receivables within one year -€5,130
down €5,130 (-19.7%), from €26,084 to €20,954
- Tangible fixed assets -€4,875
down €4,875 (-2.8%), from €176,891 to €172,016
- Trade debts -€2,466
down €2,466 (-62.2%), from €3,966 to €1,500
- Gross operating margin +€12,421
up €12,421, from -€5,018 to €7,403
- Financial income +€456
up €456 (+110.3%), from €414 to €870
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 | €228,223 | €227,758 | -€465 | -0.2% |
| Fixed assets | 21/28 | €176,891 | €172,016 | -€4,875 | -2.8% |
| Tangible fixed assets | 22/27 | €176,891 | €172,016 | -€4,875 | -2.8% |
| Land and buildings | 22 | €176,891 | €172,016 | -€4,875 | -2.8% |
| Current assets | 29/58 | €51,332 | €55,742 | +€4,410 | +8.6% |
| Amounts receivable within one year | 40/41 | €26,084 | €20,954 | -€5,130 | -19.7% |
| Other amounts receivable | 41 | €26,084 | €20,954 | -€5,130 | -19.7% |
| Cash at bank and in hand | 54/58 | €24,952 | €34,788 | +€9,836 | +39.4% |
| Deferred charges and accrued income | 490/1 | €296 | €0 | -€296 | -100.0% |
| Total equity and liabilities | 10/49 | €228,223 | €227,758 | -€465 | -0.2% |
| Equity | 10/15 | €222,657 | €224,658 | +€2,001 | +0.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €208,397 | €210,398 | +€2,001 | +1.0% |
| Amounts payable | 17/49 | €5,566 | €3,100 | -€2,466 | -44.3% |
| Amounts payable within one year | 42/48 | €5,566 | €3,100 | -€2,466 | -44.3% |
| Trade debts | 44 | €3,966 | €1,500 | -€2,466 | -62.2% |
| Suppliers | 440/4 | €3,966 | €1,500 | -€2,466 | -62.2% |
| Other amounts payable | 47/48 | €1,600 | €1,600 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,875 | €4,875 | = | 0.0% |
| Other operating charges | 640/8 | €1,327 | €1,367 | +€40 | +3.0% |
| Gross operating margin | 9900 | -€5,018 | €7,403 | +€12,421 | |
| Operating profit (loss) | 9901 | -€11,219 | €1,161 | +€12,380 | |
| Financial income | 75/76B | €414 | €870 | +€456 | +110.3% |
| Recurring financial income | 75 | €414 | €870 | +€456 | +110.3% |
| Financial charges | 65/66B | €29 | €30 | +€2 | +5.3% |
| Recurring financial charges | 65 | €29 | €30 | +€2 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | -€10,834 | €2,001 | +€12,835 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€10,834 | €2,001 | +€12,835 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,834 | €2,001 | +€12,835 |
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 30 September 2026 via checked.be.