Marga: 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.
Marga
Largest movements
- Tangible fixed assets +€34,855
up €34,855 (+2,110%), from €1,652 to €36,506
of which Furniture and vehicles: +€34,998
- Stocks and contracts -€7,855
down €7,855 (-5.4%), from €144,405 to €136,551
- Receivables within one year -€2,057
down €2,057 (-87.2%), from €2,359 to €302
- Other debts +€38,687
up €38,687 (+95.9%), from €40,346 to €79,033
- Trade debts -€7,761
down €7,761 (-82.1%), from €9,451 to €1,689
- Short-term financial debts -€5,000
no longer reported in 2025 (was €5,000)
- Reserves +€2,204
up €2,204 (+3.1%), from €70,663 to €72,867
- Depreciation +€5,512
up €5,512 (+401%), from €1,376 to €6,889
- Financial charges -€2,067
down €2,067 (-31.7%), from €6,521 to €4,454
- Gross operating margin -€898
down €898 (-5.9%), from €15,229 to €14,331
- Other operating charges +€219
up €219 (+31.9%), from €687 to €907
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 | €156,722 | €183,879 | +€27,157 | +17.3% |
| Fixed assets | 21/28 | €5,052 | €39,907 | +€34,855 | +690% |
| Tangible fixed assets | 22/27 | €1,652 | €36,506 | +€34,855 | +2,110% |
| Plant, machinery and equipment | 23 | €419 | €275 | -€144 | -34.3% |
| Furniture and vehicles | 24 | €1,233 | €36,231 | +€34,998 | +2,839% |
| Financial fixed assets | 28 | €3,401 | €3,401 | = | 0.0% |
| Current assets | 29/58 | €151,669 | €143,972 | -€7,698 | -5.1% |
| Stocks and contracts in progress | 3 | €144,405 | €136,551 | -€7,855 | -5.4% |
| Stocks | 30/36 | €144,405 | €136,551 | -€7,855 | -5.4% |
| Amounts receivable within one year | 40/41 | €2,359 | €302 | -€2,057 | -87.2% |
| Trade receivables | 40 | €2,359 | €302 | -€2,057 | -87.2% |
| Cash at bank and in hand | 54/58 | €4,125 | €5,819 | +€1,694 | +41.1% |
| Deferred charges and accrued income | 490/1 | €781 | €1,301 | +€520 | +66.6% |
| Total equity and liabilities | 10/49 | €156,722 | €183,879 | +€27,157 | +17.3% |
| Equity | 10/15 | €89,255 | €91,459 | +€2,204 | +2.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €70,663 | €72,867 | +€2,204 | +3.1% |
| Distributable reserves | 133 | €70,663 | €72,867 | +€2,204 | +3.1% |
| Amounts payable | 17/49 | €67,467 | €92,420 | +€24,953 | +37.0% |
| Amounts payable within one year | 42/48 | €67,467 | €92,420 | +€24,953 | +37.0% |
| Financial debts | 43 | €5,000 | - | -€5,000 | |
| Credit institutions | 430/8 | €5,000 | - | -€5,000 | |
| Trade debts | 44 | €9,451 | €1,689 | -€7,761 | -82.1% |
| Suppliers | 440/4 | €9,451 | €1,689 | -€7,761 | -82.1% |
| Taxes, remuneration and social security | 45 | €12,671 | €11,699 | -€972 | -7.7% |
| Taxes | 450/3 | €12,671 | €11,699 | -€972 | -7.7% |
| Other amounts payable | 47/48 | €40,346 | €79,033 | +€38,687 | +95.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,376 | €6,889 | +€5,512 | +401% |
| Other operating charges | 640/8 | €687 | €907 | +€219 | +31.9% |
| Gross operating margin | 9900 | €15,229 | €14,331 | -€898 | -5.9% |
| Operating profit (loss) | 9901 | €13,166 | €6,536 | -€6,630 | -50.4% |
| Financial income | 75/76B | €119 | €122 | +€3 | +2.7% |
| Recurring financial income | 75 | €119 | €122 | +€3 | +2.7% |
| Financial charges | 65/66B | €6,521 | €4,454 | -€2,067 | -31.7% |
| Recurring financial charges | 65 | €6,521 | €4,454 | -€2,067 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €6,764 | €2,204 | -€4,560 | -67.4% |
| Profit (loss) for the period | 9904 | €6,764 | €2,204 | -€4,560 | -67.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,764 | €2,204 | -€4,560 | -67.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.