MARECHAL INVEST: 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.
MARECHAL INVEST
Largest movements
- Tangible fixed assets -€45,077
down €45,077 (-72.0%), from €62,628 to €17,551
of which Land and buildings: -€38,076
- Cash +€15,344
up €15,344 (+2,643%), from €581 to €15,925
mainly Investment in fixed assets (net) (+€38,076) and Net result for the year (+€12,249)
- Receivables within one year -€1,187
down €1,187 (-10.6%), from €11,209 to €10,022
of which Other amounts receivable: -€1,605
- Other debts -€40,574
down €40,574 (-43.9%), from €92,342 to €51,768
- Profit (loss) carried forward +€12,249
up €12,249 (+50.7%), from -€24,169 to -€11,920
- Trade debts -€1,637
down €1,637 (-90.2%), from €1,815 to €177
- Tax, wage and social debts -€1,632
down €1,632 (-91.7%), from €1,780 to €148
of which Remuneration and social security: -€1,705
- Gross operating margin +€28,278
up €28,278 (+518%), from €5,460 to €33,738
- Depreciation -€1,800
down €1,800 (-20.5%), from €8,801 to €7,001
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 | €75,668 | €44,073 | -€31,595 | -41.8% |
| Fixed assets | 21/28 | €62,628 | €17,551 | -€45,077 | -72.0% |
| Tangible fixed assets | 22/27 | €62,628 | €17,551 | -€45,077 | -72.0% |
| Land and buildings | 22 | €38,076 | - | -€38,076 | |
| Furniture and vehicles | 24 | €24,552 | €17,551 | -€7,001 | -28.5% |
| Current assets | 29/58 | €13,040 | €26,522 | +€13,483 | +103% |
| Amounts receivable within one year | 40/41 | €11,209 | €10,022 | -€1,187 | -10.6% |
| Trade receivables | 40 | €4,582 | €5,000 | +€418 | +9.1% |
| Other amounts receivable | 41 | €6,627 | €5,022 | -€1,605 | -24.2% |
| Cash at bank and in hand | 54/58 | €581 | €15,925 | +€15,344 | +2,643% |
| Deferred charges and accrued income | 490/1 | €1,250 | €575 | -€675 | -54.0% |
| Total equity and liabilities | 10/49 | €75,668 | €44,073 | -€31,595 | -41.8% |
| Equity | 10/15 | -€20,269 | -€8,020 | +€12,249 | +60.4% |
| Contributions | 10/11 | €3,900 | €3,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,169 | -€11,920 | +€12,249 | +50.7% |
| Amounts payable | 17/49 | €95,937 | €52,093 | -€43,844 | -45.7% |
| Amounts payable within one year | 42/48 | €95,937 | €52,093 | -€43,844 | -45.7% |
| Trade debts | 44 | €1,815 | €177 | -€1,637 | -90.2% |
| Suppliers | 440/4 | €1,815 | €177 | -€1,637 | -90.2% |
| Taxes, remuneration and social security | 45 | €1,780 | €148 | -€1,632 | -91.7% |
| Taxes | 450/3 | €74 | €148 | +€73 | +99.1% |
| Remuneration and social security | 454/9 | €1,705 | - | -€1,705 | |
| Other amounts payable | 47/48 | €92,342 | €51,768 | -€40,574 | -43.9% |
| Remuneration, social security and pensions | 62 | €2,492 | €2,812 | +€320 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,801 | €7,001 | -€1,800 | -20.5% |
| Other operating charges | 640/8 | €585 | €541 | -€43 | -7.4% |
| Non-recurring operating charges | 66A | €616 | €10,959 | +€10,343 | +1,680% |
| Gross operating margin | 9900 | €5,460 | €33,738 | +€28,278 | +518% |
| Operating profit (loss) | 9901 | -€7,034 | €12,424 | +€19,458 | |
| Financial charges | 65/66B | €373 | €42 | -€331 | -88.7% |
| Recurring financial charges | 65 | €373 | €42 | -€331 | -88.7% |
| Profit (loss) for the period before taxes | 9903 | -€7,407 | €12,382 | +€19,789 | |
| Income taxes | 67/77 | €74 | €133 | +€59 | +79.1% |
| Profit (loss) for the period | 9904 | -€7,481 | €12,249 | +€19,731 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,481 | €12,249 | +€19,731 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.