MARGANI: 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.
MARGANI
Largest movements
- Tangible fixed assets -€7,372
down €7,372 (-63.1%), from €11,676 to €4,304
of which Furniture and vehicles: -€8,490
- Stocks and contracts -€4,970
down €4,970 (-46.2%), from €10,769 to €5,798
- Cash -€4,330
down €4,330 (-32.4%), from €13,345 to €9,014
mainly Net result for the year (-€15,911) and Trade debts (-€7,260)
- Receivables within one year -€3,534
down €3,534 (-19.6%), from €18,019 to €14,485
of which Trade receivables: -€3,676
- Deferred charges and accrued income +€1,426
new in 2025: €1,426
- Profit (loss) carried forward -€15,911
down €15,911 (-17.6%), from -€90,211 to -€106,122
- Advances received +€10,126
up €10,126 (+352.3%), from €2,874 to €13,000
- Trade debts -€7,260
down €7,260 (-42.1%), from €17,238 to €9,978
- Other debts -€5,109
down €5,109 (-6.8%), from €74,873 to €69,765
- Tax, wage and social debts -€626
down €626 (-2.6%), from €24,274 to €23,648
of which Remuneration and social security: -€1,007
- Depreciation -€4,979
down €4,979 (-76.7%), from €6,493 to €1,514
- Staff costs +€4,643
up €4,643 (+4.5%), from €103,793 to €108,437
- Gross operating margin +€2,210
up €2,210 (+2.3%), from €95,007 to €97,216
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 | €53,808 | €35,028 | -€18,780 | -34.9% |
| Fixed assets | 21/28 | €11,676 | €4,304 | -€7,372 | -63.1% |
| Tangible fixed assets | 22/27 | €11,676 | €4,304 | -€7,372 | -63.1% |
| Plant, machinery and equipment | 23 | €576 | €75 | -€501 | -86.9% |
| Furniture and vehicles | 24 | €9,348 | €858 | -€8,490 | -90.8% |
| Other tangible fixed assets | 26 | €1,752 | €3,372 | +€1,620 | +92.4% |
| Current assets | 29/58 | €42,132 | €30,724 | -€11,408 | -27.1% |
| Stocks and contracts in progress | 3 | €10,769 | €5,798 | -€4,970 | -46.2% |
| Stocks | 30/36 | €10,769 | €5,798 | -€4,970 | -46.2% |
| Amounts receivable within one year | 40/41 | €18,019 | €14,485 | -€3,534 | -19.6% |
| Trade receivables | 40 | €17,357 | €13,680 | -€3,676 | -21.2% |
| Other amounts receivable | 41 | €662 | €805 | +€142 | +21.5% |
| Cash at bank and in hand | 54/58 | €13,345 | €9,014 | -€4,330 | -32.4% |
| Deferred charges and accrued income | 490/1 | - | €1,426 | +€1,426 | |
| Total equity and liabilities | 10/49 | €53,808 | €35,028 | -€18,780 | -34.9% |
| Equity | 10/15 | -€71,453 | -€87,364 | -€15,911 | -22.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €158 | €158 | = | 0.0% |
| Non-distributable reserves | 130/1 | €158 | €158 | = | 0.0% |
| Reserves not available under the articles | 1311 | €158 | €158 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€90,211 | -€106,122 | -€15,911 | -17.6% |
| Amounts payable | 17/49 | €125,261 | €122,392 | -€2,869 | -2.3% |
| Amounts payable within one year | 42/48 | €119,261 | €116,392 | -€2,869 | -2.4% |
| Trade debts | 44 | €17,238 | €9,978 | -€7,260 | -42.1% |
| Suppliers | 440/4 | €17,238 | €9,978 | -€7,260 | -42.1% |
| Advances received on contracts in progress | 46 | €2,874 | €13,000 | +€10,126 | +352.3% |
| Taxes, remuneration and social security | 45 | €24,274 | €23,648 | -€626 | -2.6% |
| Taxes | 450/3 | €7,403 | €7,784 | +€381 | +5.1% |
| Remuneration and social security | 454/9 | €16,871 | €15,864 | -€1,007 | -6.0% |
| Other amounts payable | 47/48 | €74,873 | €69,765 | -€5,109 | -6.8% |
| Accrued charges and deferred income | 492/3 | €6,000 | €6,000 | = | 0.0% |
| Non-recurring operating income | 76A | - | €3,702 | +€3,702 | |
| Remuneration, social security and pensions | 62 | €103,793 | €108,437 | +€4,643 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,493 | €1,514 | -€4,979 | -76.7% |
| Other operating charges | 640/8 | €1,627 | €1,127 | -€499 | -30.7% |
| Gross operating margin | 9900 | €95,007 | €97,216 | +€2,210 | +2.3% |
| Operating profit (loss) | 9901 | -€16,907 | -€13,862 | +€3,045 | +18.0% |
| Financial income | 75/76B | - | €7 | +€7 | |
| Recurring financial income | 75 | - | €7 | +€7 | |
| Financial charges | 65/66B | €1,567 | €2,056 | +€489 | +31.2% |
| Recurring financial charges | 65 | €1,567 | €2,056 | +€489 | +31.2% |
| Profit (loss) for the period before taxes | 9903 | -€18,473 | -€15,911 | +€2,562 | +13.9% |
| Profit (loss) for the period | 9904 | -€18,473 | -€15,911 | +€2,562 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,473 | -€15,911 | +€2,562 | +13.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.