MARGEMIL: 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.
MARGEMIL
Largest movements
- Receivables within one year +€32,292
up €32,292 (+703.9%), from €4,588 to €36,880
of which Trade receivables: +€32,288
- Tangible fixed assets -€17,183
down €17,183 (-39.0%), from €44,074 to €26,892
of which Furniture and vehicles: -€17,009
- Intangible fixed assets -€9,849
down €9,849 (-13.8%), from €71,397 to €61,549
- Stocks and contracts +€3,473
up €3,473 (+33.4%), from €10,383 to €13,856
- Debts after one year -€21,529
down €21,529 (-15.9%), from €135,288 to €113,759
- Profit (loss) carried forward +€18,812
up €18,812 (+21.6%), from -€87,148 to -€68,337
- Tax, wage and social debts +€7,852
up €7,852 (+88.8%), from €8,846 to €16,699
of which Taxes: +€6,009
- Trade debts +€5,116
up €5,116 (+75.0%), from €6,823 to €11,939
- Current portion of long-term debt -€1,931
down €1,931 (-8.5%), from €22,680 to €20,749
- Gross operating margin +€31,316
up €31,316 (+54.0%), from €57,979 to €89,295
- Staff costs +€5,916
up €5,916 (+17.4%), from €34,054 to €39,969
- Other operating charges +€1,401
up €1,401 (+147.5%), from €950 to €2,351
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 | €133,628 | €142,124 | +€8,496 | +6.4% |
| Fixed assets | 21/28 | €115,652 | €88,620 | -€27,031 | -23.4% |
| Intangible fixed assets | 21 | €71,397 | €61,549 | -€9,849 | -13.8% |
| Tangible fixed assets | 22/27 | €44,074 | €26,892 | -€17,183 | -39.0% |
| Furniture and vehicles | 24 | €43,801 | €26,792 | -€17,009 | -38.8% |
| Other tangible fixed assets | 26 | €274 | €100 | -€174 | -63.5% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €17,977 | €53,504 | +€35,527 | +197.6% |
| Stocks and contracts in progress | 3 | €10,383 | €13,856 | +€3,473 | +33.4% |
| Stocks | 30/36 | €10,383 | €13,856 | +€3,473 | +33.4% |
| Amounts receivable within one year | 40/41 | €4,588 | €36,880 | +€32,292 | +703.9% |
| Trade receivables | 40 | €4,588 | €36,876 | +€32,288 | +703.8% |
| Other amounts receivable | 41 | - | €3 | +€3 | |
| Cash at bank and in hand | 54/58 | €1,544 | €896 | -€648 | -42.0% |
| Deferred charges and accrued income | 490/1 | €1,461 | €1,872 | +€411 | +28.1% |
| Total equity and liabilities | 10/49 | €133,628 | €142,124 | +€8,496 | +6.4% |
| Equity | 10/15 | -€42,148 | -€23,337 | +€18,812 | +44.6% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€87,148 | -€68,337 | +€18,812 | +21.6% |
| Amounts payable | 17/49 | €175,777 | €165,461 | -€10,316 | -5.9% |
| Amounts payable after more than one year | 17 | €135,288 | €113,759 | -€21,529 | -15.9% |
| Financial debts | 170/4 | €135,288 | €113,759 | -€21,529 | -15.9% |
| Amounts payable within one year | 42/48 | €38,349 | €49,387 | +€11,038 | +28.8% |
| Current portion of amounts payable after more than one year | 42 | €22,680 | €20,749 | -€1,931 | -8.5% |
| Trade debts | 44 | €6,823 | €11,939 | +€5,116 | +75.0% |
| Suppliers | 440/4 | €6,823 | €11,939 | +€5,116 | +75.0% |
| Taxes, remuneration and social security | 45 | €8,846 | €16,699 | +€7,852 | +88.8% |
| Taxes | 450/3 | €2,789 | €8,799 | +€6,009 | +215.4% |
| Remuneration and social security | 454/9 | €6,057 | €7,900 | +€1,843 | +30.4% |
| Accrued charges and deferred income | 492/3 | €2,140 | €2,316 | +€176 | +8.2% |
| Remuneration, social security and pensions | 62 | €34,054 | €39,969 | +€5,916 | +17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,031 | €27,031 | = | 0.0% |
| Other operating charges | 640/8 | €950 | €2,351 | +€1,401 | +147.5% |
| Gross operating margin | 9900 | €57,979 | €89,295 | +€31,316 | +54.0% |
| Operating profit (loss) | 9901 | -€4,056 | €19,943 | +€23,999 | |
| Financial income | 75/76B | €95 | €46 | -€49 | -51.7% |
| Recurring financial income | 75 | €95 | €46 | -€49 | -51.7% |
| Financial charges | 65/66B | €1,661 | €1,032 | -€629 | -37.8% |
| Recurring financial charges | 65 | €1,661 | €1,032 | -€629 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,623 | €18,956 | +€24,579 | |
| Income taxes | 67/77 | €151 | €145 | -€7 | -4.4% |
| Profit (loss) for the period | 9904 | -€5,774 | €18,812 | +€24,586 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,774 | €18,812 | +€24,586 |
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 10 October 2026 via checked.be.