MAREELS WOUTER: 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.
MAREELS WOUTER
Largest movements
- Cash +€16,929
up €16,929 (+45.9%), from €36,890 to €53,819
mainly Net result for the year (+€24,464) and Deferred charges and accrued income (+€237)
- Profit (loss) carried forward +€24,464
up €24,464 (+31.0%), from €78,967 to €103,431
- Tax, wage and social debts -€4,006
down €4,006 (-19.2%), from €20,887 to €16,880
- Current portion of long-term debt -€2,457
no longer reported in 2025 (was €2,457)
- Gross operating margin -€19,331
down €19,331 (-39.1%), from €49,472 to €30,141
- Taxes -€3,684
down €3,684 (-35.8%), from €10,282 to €6,598
- Financial income +€846
up €846 (+32.8%), from €2,581 to €3,427
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 | €105,203 | €122,489 | +€17,286 | +16.4% |
| Fixed assets | 21/28 | €324 | €104 | -€220 | -68.0% |
| Tangible fixed assets | 22/27 | €324 | €104 | -€220 | -68.0% |
| Furniture and vehicles | 24 | €324 | €104 | -€220 | -68.0% |
| Current assets | 29/58 | €104,879 | €122,385 | +€17,506 | +16.7% |
| Amounts receivable after more than one year | 29 | €52,000 | €52,000 | = | 0.0% |
| Other amounts receivable | 291 | €52,000 | €52,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €15,545 | €16,359 | +€814 | +5.2% |
| Trade receivables | 40 | €12,284 | €9,741 | -€2,544 | -20.7% |
| Other amounts receivable | 41 | €3,261 | €6,618 | +€3,358 | +103.0% |
| Cash at bank and in hand | 54/58 | €36,890 | €53,819 | +€16,929 | +45.9% |
| Deferred charges and accrued income | 490/1 | €444 | €207 | -€237 | -53.4% |
| Total equity and liabilities | 10/49 | €105,203 | €122,489 | +€17,286 | +16.4% |
| Equity | 10/15 | €79,467 | €103,931 | +€24,464 | +30.8% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,967 | €103,431 | +€24,464 | +31.0% |
| Amounts payable | 17/49 | €25,736 | €18,558 | -€7,178 | -27.9% |
| Amounts payable after more than one year | 17 | €327 | €327 | = | 0.0% |
| Financial debts | 170/4 | €327 | €327 | = | 0.0% |
| Amounts payable within one year | 42/48 | €25,409 | €18,231 | -€7,178 | -28.2% |
| Current portion of amounts payable after more than one year | 42 | €2,457 | - | -€2,457 | |
| Trade debts | 44 | €2,065 | €1,351 | -€714 | -34.6% |
| Suppliers | 440/4 | €2,065 | €1,351 | -€714 | -34.6% |
| Taxes, remuneration and social security | 45 | €20,887 | €16,880 | -€4,006 | -19.2% |
| Taxes | 450/3 | €20,887 | €16,880 | -€4,006 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €220 | €220 | = | 0.0% |
| Other operating charges | 640/8 | €497 | €730 | +€232 | +46.7% |
| Gross operating margin | 9900 | €49,472 | €30,141 | -€19,331 | -39.1% |
| Operating profit (loss) | 9901 | €48,755 | €29,191 | -€19,564 | -40.1% |
| Financial income | 75/76B | €2,581 | €3,427 | +€846 | +32.8% |
| Recurring financial income | 75 | €2,581 | €3,427 | +€846 | +32.8% |
| Financial charges | 65/66B | €1,372 | €1,556 | +€184 | +13.4% |
| Recurring financial charges | 65 | €1,372 | €1,556 | +€184 | +13.4% |
| Profit (loss) for the period before taxes | 9903 | €49,964 | €31,062 | -€18,902 | -37.8% |
| Income taxes | 67/77 | €10,282 | €6,598 | -€3,684 | -35.8% |
| Profit (loss) for the period | 9904 | €39,682 | €24,464 | -€15,218 | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,682 | €24,464 | -€15,218 | -38.4% |
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.