MARGALEX: 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.
MARGALEX
Largest movements
- Receivables within one year -€16,725
down €16,725 (-12.9%), from €130,137 to €113,412
of which Trade receivables: -€17,178
- Cash -€12,050
down €12,050 (-71.5%), from €16,864 to €4,813
mainly Net result for the year (-€33,478) and Trade debts (-€2,842)
- Profit (loss) carried forward -€33,478
down €33,478 (-110.2%), from -€30,384 to -€63,862
- Gross operating margin +€23,077
up €23,077 (+49.3%), from €46,804 to €69,881
- Other operating charges -€5,768
down €5,768 (-74.2%), from €7,772 to €2,004
- Staff costs -€2,612
down €2,612 (-2.5%), from €103,304 to €100,692
- Taxes -€1,255
down €1,255 (-71.6%), from €1,752 to €497
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 | €504,045 | €471,597 | -€32,448 | -6.4% |
| Fixed assets | 21/28 | €325,070 | €325,070 | = | 0.0% |
| Tangible fixed assets | 22/27 | €25,000 | €25,000 | = | 0.0% |
| Land and buildings | 22 | €25,000 | €25,000 | = | 0.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €300,070 | €300,070 | = | 0.0% |
| Current assets | 29/58 | €178,975 | €146,527 | -€32,448 | -18.1% |
| Amounts receivable within one year | 40/41 | €130,137 | €113,412 | -€16,725 | -12.9% |
| Trade receivables | 40 | €17,485 | €307 | -€17,178 | -98.2% |
| Other amounts receivable | 41 | €112,652 | €113,105 | +€453 | +0.4% |
| Cash at bank and in hand | 54/58 | €16,864 | €4,813 | -€12,050 | -71.5% |
| Deferred charges and accrued income | 490/1 | €31,974 | €28,301 | -€3,673 | -11.5% |
| Total equity and liabilities | 10/49 | €504,045 | €471,597 | -€32,448 | -6.4% |
| Equity | 10/15 | €459,494 | €426,016 | -€33,478 | -7.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €483,678 | €483,678 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €481,818 | €481,818 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,384 | -€63,862 | -€33,478 | -110.2% |
| Amounts payable | 17/49 | €44,550 | €45,581 | +€1,030 | +2.3% |
| Amounts payable within one year | 42/48 | €44,534 | €45,581 | +€1,046 | +2.3% |
| Trade debts | 44 | €14,016 | €11,174 | -€2,842 | -20.3% |
| Suppliers | 440/4 | €14,016 | €11,174 | -€2,842 | -20.3% |
| Taxes, remuneration and social security | 45 | €30,518 | €34,406 | +€3,888 | +12.7% |
| Taxes | 450/3 | €13,856 | €16,445 | +€2,589 | +18.7% |
| Remuneration and social security | 454/9 | €16,662 | €17,961 | +€1,299 | +7.8% |
| Accrued charges and deferred income | 492/3 | €16 | €0 | -€16 | -100.0% |
| Remuneration, social security and pensions | 62 | €103,304 | €100,692 | -€2,612 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €7,772 | €2,004 | -€5,768 | -74.2% |
| Gross operating margin | 9900 | €46,804 | €69,881 | +€23,077 | +49.3% |
| Operating profit (loss) | 9901 | -€64,272 | -€32,815 | +€31,456 | +48.9% |
| Financial income | 75/76B | €1 | €8 | +€7 | +1338.9% |
| Recurring financial income | 75 | €1 | €8 | +€7 | +1338.9% |
| Financial charges | 65/66B | €582 | €174 | -€408 | -70.1% |
| Recurring financial charges | 65 | €582 | €174 | -€408 | -70.1% |
| Profit (loss) for the period before taxes | 9903 | -€64,853 | -€32,981 | +€31,872 | +49.1% |
| Income taxes | 67/77 | €1,752 | €497 | -€1,255 | -71.6% |
| Profit (loss) for the period | 9904 | -€66,605 | -€33,478 | +€33,127 | +49.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€66,605 | -€33,478 | +€33,127 | +49.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.