Margaux Beyer: 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.
Margaux Beyer
Largest movements
- Cash +€103,843
up €103,843 (+55.9%), from €185,652 to €289,495
mainly Other debts (+€109,600) and Net result for the year (+€95,618)
- Receivables within one year +€12,050
up €12,050 (+8,034%), from €150 to €12,200
of which Trade receivables: +€12,200
- Tangible fixed assets -€6,378
down €6,378 (-22.3%), from €28,606 to €22,227
- Other debts +€109,600
up €109,600 (+18,233%), from €601 to €110,201
- Tax, wage and social debts +€35,188
up €35,188 (+790%), from €4,453 to €39,641
of which Taxes: +€35,188
- Reserves -€34,382
down €34,382 (-16.6%), from €207,307 to €172,925
- Gross operating margin +€53,854
up €53,854 (+71.3%), from €75,564 to €129,418
- Taxes +€12,255
up €12,255 (+84.8%), from €14,453 to €26,709
- Depreciation +€3,093
up €3,093 (+94.1%), from €3,285 to €6,378
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 | €218,085 | €325,819 | +€107,734 | +49.4% |
| Fixed assets | 21/28 | €28,881 | €22,502 | -€6,378 | -22.1% |
| Tangible fixed assets | 22/27 | €28,606 | €22,227 | -€6,378 | -22.3% |
| Furniture and vehicles | 24 | €28,606 | €22,227 | -€6,378 | -22.3% |
| Financial fixed assets | 28 | €275 | €275 | = | 0.0% |
| Current assets | 29/58 | €189,204 | €303,317 | +€114,112 | +60.3% |
| Amounts receivable within one year | 40/41 | €150 | €12,200 | +€12,050 | +8,034% |
| Trade receivables | 40 | €0 | €12,200 | +€12,200 | |
| Other amounts receivable | 41 | €150 | €0 | -€150 | -100% |
| Cash at bank and in hand | 54/58 | €185,652 | €289,495 | +€103,843 | +55.9% |
| Deferred charges and accrued income | 490/1 | €3,403 | €1,622 | -€1,780 | -52.3% |
| Total equity and liabilities | 10/49 | €218,085 | €325,819 | +€107,734 | +49.4% |
| Equity | 10/15 | €209,307 | €174,925 | -€34,382 | -16.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €207,307 | €172,925 | -€34,382 | -16.6% |
| Distributable reserves | 133 | €207,307 | €172,925 | -€34,382 | -16.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €8,778 | €150,894 | +€142,116 | +1,619% |
| Amounts payable within one year | 42/48 | €8,778 | €150,894 | +€142,116 | +1,619% |
| Trade debts | 44 | €3,724 | €1,052 | -€2,671 | -71.7% |
| Suppliers | 440/4 | €3,724 | €1,052 | -€2,671 | -71.7% |
| Taxes, remuneration and social security | 45 | €4,453 | €39,641 | +€35,188 | +790% |
| Taxes | 450/3 | €4,453 | €39,641 | +€35,188 | +790% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €601 | €110,201 | +€109,600 | +18,233% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,285 | €6,378 | +€3,093 | +94.1% |
| Other operating charges | 640/8 | €535 | €423 | -€111 | -20.8% |
| Gross operating margin | 9900 | €75,564 | €129,418 | +€53,854 | +71.3% |
| Operating profit (loss) | 9901 | €71,744 | €122,616 | +€50,872 | +70.9% |
| Financial income | 75/76B | €0 | €4 | +€4 | |
| Recurring financial income | 75 | €0 | €4 | +€4 | |
| Financial charges | 65/66B | €629 | €294 | -€335 | -53.2% |
| Recurring financial charges | 65 | €629 | €294 | -€335 | -53.2% |
| Profit (loss) for the period before taxes | 9903 | €71,115 | €122,326 | +€51,211 | +72.0% |
| Income taxes | 67/77 | €14,453 | €26,709 | +€12,255 | +84.8% |
| Profit (loss) for the period | 9904 | €56,662 | €95,618 | +€38,956 | +68.8% |
| Profit (loss) for the period to be appropriated | 9905 | €56,662 | €95,618 | +€38,956 | +68.8% |
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 22 October 2026 via checked.be.