MAREEL DEMPSEY: 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.
MAREEL DEMPSEY
Largest movements
- Tangible fixed assets -€8,445
down €8,445 (-36.9%), from €22,889 to €14,444
of which Leasing and similar rights: -€7,195
- Receivables within one year +€7,234
up €7,234 (+94.2%), from €7,683 to €14,917
of which Trade receivables: +€7,317
- Deferred charges and accrued income +€3,396
up €3,396 (+408%), from €833 to €4,229
- Cash -€3,031
down €3,031 (-53.3%), from €5,691 to €2,660
mainly Net result for the year (-€8,695) and Receivables within one year (-€7,234)
- Profit (loss) carried forward -€8,695
down €8,695, from €5,266 to -€3,428
- Other debts +€8,086
up €8,086 (+215%), from €3,753 to €11,839
- Debts after one year -€5,433
down €5,433 (-44.2%), from €12,290 to €6,857
- Trade debts +€2,911
up €2,911 (+59.5%), from €4,890 to €7,801
- Tax, wage and social debts +€2,094
up €2,094 (+47.5%), from €4,405 to €6,499
of which Taxes: +€2,094
- Gross operating margin -€16,604
down €16,604 (-91.3%), from €18,191 to €1,587
- Taxes -€1,958
down €1,958 (-100%), from €1,958 to €0
- Financial charges -€1,002
down €1,002 (-58.7%), from €1,707 to €706
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 | €39,596 | €38,750 | -€846 | -2.1% |
| Fixed assets | 21/28 | €22,889 | €14,444 | -€8,445 | -36.9% |
| Tangible fixed assets | 22/27 | €22,889 | €14,444 | -€8,445 | -36.9% |
| Plant, machinery and equipment | 23 | €4,413 | €3,204 | -€1,209 | -27.4% |
| Furniture and vehicles | 24 | €655 | €613 | -€42 | -6.4% |
| Leasing and similar rights | 25 | €17,822 | €10,627 | -€7,195 | -40.4% |
| Current assets | 29/58 | €16,707 | €24,306 | +€7,599 | +45.5% |
| Stocks and contracts in progress | 3 | €2,500 | €2,500 | = | 0.0% |
| Stocks | 30/36 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,683 | €14,917 | +€7,234 | +94.2% |
| Trade receivables | 40 | €6,145 | €13,462 | +€7,317 | +119% |
| Other amounts receivable | 41 | €1,537 | €1,454 | -€83 | -5.4% |
| Cash at bank and in hand | 54/58 | €5,691 | €2,660 | -€3,031 | -53.3% |
| Deferred charges and accrued income | 490/1 | €833 | €4,229 | +€3,396 | +408% |
| Total equity and liabilities | 10/49 | €39,596 | €38,750 | -€846 | -2.1% |
| Equity | 10/15 | €9,016 | €322 | -€8,695 | -96.4% |
| Contributions | 10/11 | €3,750 | €3,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,266 | -€3,428 | -€8,695 | |
| Amounts payable | 17/49 | €30,580 | €38,428 | +€7,849 | +25.7% |
| Amounts payable after more than one year | 17 | €12,290 | €6,857 | -€5,433 | -44.2% |
| Financial debts | 170/4 | €12,290 | €6,857 | -€5,433 | -44.2% |
| Amounts payable within one year | 42/48 | €18,290 | €31,571 | +€13,281 | +72.6% |
| Current portion of amounts payable after more than one year | 42 | €5,242 | €5,433 | +€190 | +3.6% |
| Trade debts | 44 | €4,890 | €7,801 | +€2,911 | +59.5% |
| Suppliers | 440/4 | €4,890 | €7,801 | +€2,911 | +59.5% |
| Taxes, remuneration and social security | 45 | €4,405 | €6,499 | +€2,094 | +47.5% |
| Taxes | 450/3 | €2,177 | €4,270 | +€2,094 | +96.2% |
| Remuneration and social security | 454/9 | €2,228 | €2,228 | = | 0.0% |
| Other amounts payable | 47/48 | €3,753 | €11,839 | +€8,086 | +215% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,606 | €8,775 | +€169 | +2.0% |
| Other operating charges | 640/8 | €702 | €813 | +€111 | +15.8% |
| Gross operating margin | 9900 | €18,191 | €1,587 | -€16,604 | -91.3% |
| Operating profit (loss) | 9901 | €8,883 | -€8,001 | -€16,885 | |
| Financial income | 75/76B | €128 | €12 | -€116 | -90.4% |
| Recurring financial income | 75 | €128 | €12 | -€116 | -90.4% |
| Financial charges | 65/66B | €1,707 | €706 | -€1,002 | -58.7% |
| Recurring financial charges | 65 | €1,707 | €706 | -€1,002 | -58.7% |
| Profit (loss) for the period before taxes | 9903 | €7,304 | -€8,695 | -€15,999 | |
| Income taxes | 67/77 | €1,958 | €0 | -€1,958 | -100% |
| Profit (loss) for the period | 9904 | €5,346 | -€8,695 | -€14,040 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,346 | -€8,695 | -€14,040 |
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 17 October 2026 via checked.be.