MARECHAL CONSTRUCTION: 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 CONSTRUCTION
Largest movements
- Current investments +€96,738
up €96,738 (+292.9%), from €33,030 to €129,768
- Receivables within one year -€79,167
down €79,167 (-28.0%), from €282,601 to €203,434
of which Trade receivables: -€93,505
- Tangible fixed assets -€43,184
down €43,184 (-10.9%), from €396,293 to €353,109
of which Furniture and vehicles: -€42,110
- Cash +€41,166
up €41,166 (+14.5%), from €283,304 to €324,470
mainly Net result for the year (+€98,887) and Receivables within one year (+€79,167)
- Stocks and contracts +€32,000
up €32,000 (+106.7%), from €30,000 to €62,000
of which Contracts in progress: +€32,000
- Other debts +€48,478
up €48,478 (+80.4%), from €60,267 to €108,745
- Tax, wage and social debts +€39,443
up €39,443 (+255.1%), from €15,460 to €54,903
of which Remuneration and social security: +€31,679
- Reserves +€33,000
up €33,000 (+5.7%), from €580,991 to €613,991
of which Distributable reserves: +€33,000
- Debts after one year -€26,758
down €26,758 (-10.9%), from €244,835 to €218,077
of which Financial debts: -€26,758
- Trade debts -€21,132
down €21,132 (-25.1%), from €84,113 to €62,981
- Gross operating margin +€213,031
up €213,031 (+28.1%), from €758,459 to €971,489
- Staff costs +€134,022
up €134,022 (+22.4%), from €599,632 to €733,654
- Taxes +€23,898
up €23,898 (+132.5%), from €18,032 to €41,929
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 | €1,049,706 | €1,126,525 | +€76,819 | +7.3% |
| Fixed assets | 21/28 | €402,579 | €360,263 | -€42,317 | -10.5% |
| Tangible fixed assets | 22/27 | €396,293 | €353,109 | -€43,184 | -10.9% |
| Land and buildings | 22 | €262,506 | €247,723 | -€14,782 | -5.6% |
| Plant, machinery and equipment | 23 | €23,090 | €37,340 | +€14,250 | +61.7% |
| Furniture and vehicles | 24 | €106,604 | €64,494 | -€42,110 | -39.5% |
| Other tangible fixed assets | 26 | €4,094 | €3,552 | -€542 | -13.2% |
| Financial fixed assets | 28 | €6,286 | €7,154 | +€868 | +13.8% |
| Current assets | 29/58 | €647,127 | €766,262 | +€119,135 | +18.4% |
| Stocks and contracts in progress | 3 | €30,000 | €62,000 | +€32,000 | +106.7% |
| Stocks | 30/36 | €0 | - | = | |
| Contracts in progress | 37 | €30,000 | €62,000 | +€32,000 | +106.7% |
| Amounts receivable within one year | 40/41 | €282,601 | €203,434 | -€79,167 | -28.0% |
| Trade receivables | 40 | €125,396 | €31,892 | -€93,505 | -74.6% |
| Other amounts receivable | 41 | €157,204 | €171,542 | +€14,338 | +9.1% |
| Current investments | 50/53 | €33,030 | €129,768 | +€96,738 | +292.9% |
| Cash at bank and in hand | 54/58 | €283,304 | €324,470 | +€41,166 | +14.5% |
| Deferred charges and accrued income | 490/1 | €18,192 | €46,590 | +€28,398 | +156.1% |
| Total equity and liabilities | 10/49 | €1,049,706 | €1,126,525 | +€76,819 | +7.3% |
| Equity | 10/15 | €615,088 | €648,975 | +€33,887 | +5.5% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €580,991 | €613,991 | +€33,000 | +5.7% |
| Tax-exempt reserves | 132 | €13,000 | €13,000 | = | 0.0% |
| Distributable reserves | 133 | €567,991 | €600,991 | +€33,000 | +5.8% |
| Profit (loss) carried forward | 14 | €13,646 | €14,533 | +€887 | +6.5% |
| Amounts payable | 17/49 | €434,618 | €477,550 | +€42,932 | +9.9% |
| Amounts payable after more than one year | 17 | €244,835 | €218,077 | -€26,758 | -10.9% |
| Financial debts | 170/4 | €240,635 | €213,877 | -€26,758 | -11.1% |
| Other amounts payable | 178/9 | €4,200 | €4,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €185,876 | €253,387 | +€67,510 | +36.3% |
| Current portion of amounts payable after more than one year | 42 | €26,037 | €26,758 | +€721 | +2.8% |
| Financial debts | 43 | €0 | €0 | = | |
| Credit institutions | 430/8 | €0 | €0 | = | |
| Trade debts | 44 | €84,113 | €62,981 | -€21,132 | -25.1% |
| Suppliers | 440/4 | €84,113 | €62,981 | -€21,132 | -25.1% |
| Taxes, remuneration and social security | 45 | €15,460 | €54,903 | +€39,443 | +255.1% |
| Taxes | 450/3 | €4,423 | €12,188 | +€7,764 | +175.5% |
| Remuneration and social security | 454/9 | €11,036 | €42,715 | +€31,679 | +287.0% |
| Other amounts payable | 47/48 | €60,267 | €108,745 | +€48,478 | +80.4% |
| Accrued charges and deferred income | 492/3 | €3,907 | €6,086 | +€2,180 | +55.8% |
| Non-recurring operating income | 76A | €12,000 | - | -€12,000 | |
| Remuneration, social security and pensions | 62 | €599,632 | €733,654 | +€134,022 | +22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,755 | €78,361 | -€1,394 | -1.7% |
| Other operating charges | 640/8 | €1,534 | €2,699 | +€1,165 | +75.9% |
| Non-recurring operating charges | 66A | €1,622 | €3,361 | +€1,739 | +107.2% |
| Gross operating margin | 9900 | €758,459 | €971,489 | +€213,031 | +28.1% |
| Operating profit (loss) | 9901 | €75,915 | €153,413 | +€77,498 | +102.1% |
| Financial income | 75/76B | €481 | €684 | +€203 | +42.2% |
| Recurring financial income | 75 | €481 | €684 | +€203 | +42.2% |
| Financial charges | 65/66B | €11,216 | €13,281 | +€2,065 | +18.4% |
| Recurring financial charges | 65 | €11,216 | €13,281 | +€2,065 | +18.4% |
| Profit (loss) for the period before taxes | 9903 | €65,180 | €140,816 | +€75,636 | +116.0% |
| Income taxes | 67/77 | €18,032 | €41,929 | +€23,898 | +132.5% |
| Profit (loss) for the period | 9904 | €47,148 | €98,887 | +€51,739 | +109.7% |
| Profit (loss) for the period to be appropriated | 9905 | €47,148 | €98,887 | +€51,739 | +109.7% |
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 6 October 2026 via checked.be.