MARGE: 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.
MARGE
Largest movements
- Cash +€3,592
up €3,592 (+2641.2%), from €136 to €3,728
mainly Net result for the year (+€10,376) and Depreciation (+€1,464)
- Tangible fixed assets +€2,358
up €2,358 (+99.1%), from €2,380 to €4,738
of which Plant, machinery and equipment: +€3,132
- Stocks and contracts +€2,050
up €2,050 (+37.3%), from €5,500 to €7,550
- Receivables within one year +€1,936
up €1,936 (+25.9%), from €7,476 to €9,412
of which Other amounts receivable: +€1,386
- Profit (loss) carried forward +€10,376
up €10,376 (+18.1%), from -€57,361 to -€46,985
- Other debts -€581
down €581 (-0.9%), from €66,360 to €65,779
- Turnover +€75,727
up €75,727 (+544.3%), from €13,913 to €89,640
- Purchases and services +€61,094
up €61,094 (+393.8%), from €15,515 to €76,609
- Gross operating margin +€14,633
up €14,633, from -€1,602 to €13,031
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 | €15,668 | €25,604 | +€9,936 | +63.4% |
| Fixed assets | 21/28 | €2,556 | €4,914 | +€2,358 | +92.3% |
| Tangible fixed assets | 22/27 | €2,380 | €4,738 | +€2,358 | +99.1% |
| Plant, machinery and equipment | 23 | €1,297 | €4,429 | +€3,132 | +241.5% |
| Furniture and vehicles | 24 | €1,083 | €309 | -€774 | -71.5% |
| Financial fixed assets | 28 | €176 | €176 | = | 0.0% |
| Current assets | 29/58 | €13,112 | €20,690 | +€7,578 | +57.8% |
| Stocks and contracts in progress | 3 | €5,500 | €7,550 | +€2,050 | +37.3% |
| Stocks | 30/36 | €5,500 | €7,550 | +€2,050 | +37.3% |
| Amounts receivable within one year | 40/41 | €7,476 | €9,412 | +€1,936 | +25.9% |
| Trade receivables | 40 | €6,299 | €6,849 | +€550 | +8.7% |
| Other amounts receivable | 41 | €1,177 | €2,563 | +€1,386 | +117.8% |
| Cash at bank and in hand | 54/58 | €136 | €3,728 | +€3,592 | +2641.2% |
| Total equity and liabilities | 10/49 | €15,668 | €25,604 | +€9,936 | +63.4% |
| Equity | 10/15 | -€51,161 | -€40,785 | +€10,376 | +20.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,361 | -€46,985 | +€10,376 | +18.1% |
| Amounts payable | 17/49 | €66,829 | €66,389 | -€440 | -0.7% |
| Amounts payable within one year | 42/48 | €66,829 | €66,389 | -€440 | -0.7% |
| Trade debts | 44 | €469 | €502 | +€33 | +7.0% |
| Suppliers | 440/4 | €469 | €502 | +€33 | +7.0% |
| Taxes, remuneration and social security | 45 | - | €108 | +€108 | |
| Taxes | 450/3 | - | €108 | +€108 | |
| Other amounts payable | 47/48 | €66,360 | €65,779 | -€581 | -0.9% |
| Turnover | 70 | €13,913 | €89,640 | +€75,727 | +544.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €15,515 | €76,609 | +€61,094 | +393.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,424 | €1,464 | +€40 | +2.8% |
| Other operating charges | 640/8 | €387 | €966 | +€579 | +149.6% |
| Gross operating margin | 9900 | -€1,602 | €13,031 | +€14,633 | |
| Operating profit (loss) | 9901 | -€3,413 | €10,601 | +€14,014 | |
| Financial income | 75/76B | €12 | €2 | -€10 | -83.3% |
| Recurring financial income | 75 | €12 | €2 | -€10 | -83.3% |
| Financial charges | 65/66B | €222 | €227 | +€5 | +2.3% |
| Recurring financial charges | 65 | €222 | €227 | +€5 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | -€3,623 | €10,376 | +€13,999 | |
| Profit (loss) for the period | 9904 | -€3,623 | €10,376 | +€13,999 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,623 | €10,376 | +€13,999 |
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 2 October 2026 via checked.be.