MARECHAL BROYAGE: 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 BROYAGE
Largest movements
- Tangible fixed assets -€24,355
down €24,355 (-4.5%), from €546,267 to €521,912
of which Leasing and similar rights: -€70,592
- Receivables within one year -€16,392
down €16,392 (-36.7%), from €44,641 to €28,249
of which Trade receivables: -€16,520
- Profit (loss) carried forward -€57,873
down €57,873 (-16.7%), from -€346,145 to -€404,017
- Revaluation surpluses -€44,587
down €44,587 (-25.0%), from €178,293 to €133,707
- Reserves +€44,587
up €44,587 (+50.0%), from €89,173 to €133,760
- Trade debts -€23,309
down €23,309 (-45.9%), from €50,829 to €27,521
- Other debts +€21,075
up €21,075 (+7.7%), from €273,866 to €294,941
- Gross operating margin +€34,187
up €34,187 (+43.8%), from €78,083 to €112,270
- Other operating charges +€6,187
up €6,187 (+224.1%), from €2,761 to €8,948
- Financial income -€1,378
down €1,378 (-76.8%), from €1,796 to €417
- Depreciation +€1,240
up €1,240 (+1.1%), from €113,785 to €115,026
- Financial charges -€1,124
down €1,124 (-6.7%), from €16,835 to €15,710
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 | €606,218 | €566,933 | -€39,285 | -6.5% |
| Fixed assets | 21/28 | €546,477 | €522,123 | -€24,355 | -4.5% |
| Tangible fixed assets | 22/27 | €546,267 | €521,912 | -€24,355 | -4.5% |
| Plant, machinery and equipment | 23 | €318,464 | €383,483 | +€65,019 | +20.4% |
| Furniture and vehicles | 24 | €39,705 | €17,736 | -€21,969 | -55.3% |
| Leasing and similar rights | 25 | €188,098 | €117,507 | -€70,592 | -37.5% |
| Other tangible fixed assets | 26 | - | €3,187 | +€3,187 | |
| Financial fixed assets | 28 | €210 | €210 | = | 0.0% |
| Current assets | 29/58 | €59,741 | €44,810 | -€14,931 | -25.0% |
| Amounts receivable within one year | 40/41 | €44,641 | €28,249 | -€16,392 | -36.7% |
| Trade receivables | 40 | €34,380 | €17,860 | -€16,520 | -48.1% |
| Other amounts receivable | 41 | €10,261 | €10,389 | +€128 | +1.2% |
| Cash at bank and in hand | 54/58 | €10,706 | €13,383 | +€2,676 | +25.0% |
| Deferred charges and accrued income | 490/1 | €4,393 | €3,179 | -€1,215 | -27.6% |
| Total equity and liabilities | 10/49 | €606,218 | €566,933 | -€39,285 | -6.5% |
| Equity | 10/15 | -€57,739 | -€116,029 | -€58,290 | -101.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €178,293 | €133,707 | -€44,587 | -25.0% |
| Reserves | 13 | €89,173 | €133,760 | +€44,587 | +50.0% |
| Distributable reserves | 133 | €89,173 | €133,760 | +€44,587 | +50.0% |
| Profit (loss) carried forward | 14 | -€346,145 | -€404,017 | -€57,873 | -16.7% |
| Investment grants | 15 | €939 | €522 | -€417 | -44.4% |
| Amounts payable | 17/49 | €663,957 | €682,962 | +€19,005 | +2.9% |
| Amounts payable after more than one year | 17 | €251,559 | €270,210 | +€18,651 | +7.4% |
| Financial debts | 170/4 | €251,559 | €270,210 | +€18,651 | +7.4% |
| Amounts payable within one year | 42/48 | €410,626 | €410,980 | +€355 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €83,736 | €84,153 | +€417 | +0.5% |
| Trade debts | 44 | €50,829 | €27,521 | -€23,309 | -45.9% |
| Suppliers | 440/4 | €50,829 | €27,521 | -€23,309 | -45.9% |
| Taxes, remuneration and social security | 45 | €2,195 | €4,366 | +€2,171 | +98.9% |
| Taxes | 450/3 | €0 | €336 | +€336 | |
| Remuneration and social security | 454/9 | €2,195 | €4,030 | +€1,835 | +83.6% |
| Other amounts payable | 47/48 | €273,866 | €294,941 | +€21,075 | +7.7% |
| Accrued charges and deferred income | 492/3 | €1,772 | €1,772 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €29,831 | €30,876 | +€1,044 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,785 | €115,026 | +€1,240 | +1.1% |
| Other operating charges | 640/8 | €2,761 | €8,948 | +€6,187 | +224.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €78,083 | €112,270 | +€34,187 | +43.8% |
| Operating profit (loss) | 9901 | -€68,295 | -€42,580 | +€25,715 | +37.7% |
| Financial income | 75/76B | €1,796 | €417 | -€1,378 | -76.8% |
| Recurring financial income | 75 | €1,796 | €417 | -€1,378 | -76.8% |
| Financial charges | 65/66B | €16,835 | €15,710 | -€1,124 | -6.7% |
| Recurring financial charges | 65 | €16,835 | €15,710 | -€1,124 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | -€83,333 | -€57,873 | +€25,461 | +30.6% |
| Profit (loss) for the period | 9904 | -€83,333 | -€57,873 | +€25,461 | +30.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,333 | -€57,873 | +€25,461 | +30.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.