MARGEST: 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.
MARGEST
Largest movements
- Receivables within one year -€25,565
down €25,565 (-56.1%), from €45,570 to €20,005
- Cash +€22,159
up €22,159 (+47.5%), from €46,643 to €68,802
mainly Receivables within one year (+€25,565) and Net result for the year (+€19,469)
- Other debts -€12,688
down €12,688 (-16.3%), from €77,940 to €65,251
- Tax, wage and social debts +€5,910
up €5,910 (+46.3%), from €12,764 to €18,674
- Trade debts +€2,758
up €2,758 (+349.4%), from €789 to €3,547
- Write-downs +€15,000
new in 2024: €15,000
- Gross operating margin -€4,217
down €4,217 (-10.3%), from €41,025 to €36,808
- Financial income -€2,515
no longer reported in 2024 (was €2,515)
- Taxes +€566
up €566 (+521.8%), from €108 to €674
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €121,117 | €118,074 | -€3,043 | -2.5% |
| Fixed assets | 21/28 | €28,904 | €29,267 | +€363 | +1.3% |
| Tangible fixed assets | 22/27 | €304 | €667 | +€363 | +119.5% |
| Furniture and vehicles | 24 | €304 | €667 | +€363 | +119.5% |
| Financial fixed assets | 28 | €28,600 | €28,600 | = | 0.0% |
| Current assets | 29/58 | €92,213 | €88,807 | -€3,406 | -3.7% |
| Amounts receivable within one year | 40/41 | €45,570 | €20,005 | -€25,565 | -56.1% |
| Other amounts receivable | 41 | €45,570 | €20,005 | -€25,565 | -56.1% |
| Cash at bank and in hand | 54/58 | €46,643 | €68,802 | +€22,159 | +47.5% |
| Total equity and liabilities | 10/49 | €121,117 | €118,074 | -€3,043 | -2.5% |
| Equity | 10/15 | €29,624 | €30,092 | +€469 | +1.6% |
| Contributions | 10/11 | €7,437 | €7,437 | = | 0.0% |
| Capital | 10 | €7,437 | €7,437 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Uncalled capital | 101 | €11,155 | €11,155 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,328 | €20,796 | +€469 | +2.3% |
| Amounts payable | 17/49 | €91,493 | €87,982 | -€3,512 | -3.8% |
| Amounts payable within one year | 42/48 | €91,493 | €87,473 | -€4,020 | -4.4% |
| Trade debts | 44 | €789 | €3,547 | +€2,758 | +349.4% |
| Suppliers | 440/4 | €789 | €3,547 | +€2,758 | +349.4% |
| Taxes, remuneration and social security | 45 | €12,764 | €18,674 | +€5,910 | +46.3% |
| Taxes | 450/3 | €12,764 | €18,674 | +€5,910 | +46.3% |
| Other amounts payable | 47/48 | €77,940 | €65,251 | -€12,688 | -16.3% |
| Accrued charges and deferred income | 492/3 | - | €509 | +€509 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €304 | €637 | +€333 | +109.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €15,000 | +€15,000 | |
| Other operating charges | 640/8 | €685 | €896 | +€211 | +30.8% |
| Gross operating margin | 9900 | €41,025 | €36,808 | -€4,217 | -10.3% |
| Operating profit (loss) | 9901 | €40,036 | €20,275 | -€19,761 | -49.4% |
| Financial income | 75/76B | €2,515 | - | -€2,515 | |
| Recurring financial income | 75 | €2,515 | - | -€2,515 | |
| Financial charges | 65/66B | €156 | €132 | -€24 | -15.2% |
| Recurring financial charges | 65 | €156 | €132 | -€24 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €42,395 | €20,143 | -€22,253 | -52.5% |
| Income taxes | 67/77 | €108 | €674 | +€566 | +521.8% |
| Profit (loss) for the period | 9904 | €42,287 | €19,469 | -€22,818 | -54.0% |
| Profit (loss) for the period to be appropriated | 9905 | €42,287 | €19,469 | -€22,818 | -54.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.