MARGHIS: 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.
MARGHIS
Largest movements
- Current investments +€167,282
up €167,282 (+72.9%), from €229,569 to €396,851
- Cash -€147,469
down €147,469 (-81.8%), from €180,224 to €32,755
mainly Contributions, distributions and other (-€336,000) and Current investments (-€167,282)
- Tangible fixed assets +€53,445
up €53,445 (+1263.5%), from €4,230 to €57,675
- Current portion of long-term debt +€209,481
up €209,481 (+213.8%), from €98,000 to €307,481
- Tax, wage and social debts -€132,177
down €132,177 (-93.4%), from €141,561 to €9,384
No income-statement line moved by more than 1% of the activity.
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 | €791,242 | €870,853 | +€79,611 | +10.1% |
| Fixed assets | 21/28 | €4,230 | €57,675 | +€53,445 | +1263.5% |
| Tangible fixed assets | 22/27 | €4,230 | €57,675 | +€53,445 | +1263.5% |
| Furniture and vehicles | 24 | €4,230 | €57,675 | +€53,445 | +1263.5% |
| Current assets | 29/58 | €787,012 | €813,178 | +€26,166 | +3.3% |
| Amounts receivable within one year | 40/41 | €377,219 | €383,572 | +€6,353 | +1.7% |
| Trade receivables | 40 | €56,265 | €56,265 | = | 0.0% |
| Other amounts receivable | 41 | €320,954 | €327,307 | +€6,353 | +2.0% |
| Current investments | 50/53 | €229,569 | €396,851 | +€167,282 | +72.9% |
| Cash at bank and in hand | 54/58 | €180,224 | €32,755 | -€147,469 | -81.8% |
| Total equity and liabilities | 10/49 | €791,242 | €870,853 | +€79,611 | +10.1% |
| Equity | 10/15 | €217,681 | €217,699 | +€18 | 0.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €210,908 | €210,908 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €209,048 | €209,048 | = | 0.0% |
| Profit (loss) carried forward | 14 | €573 | €591 | +€18 | +3.1% |
| Amounts payable | 17/49 | €573,561 | €653,154 | +€79,593 | +13.9% |
| Amounts payable within one year | 42/48 | €573,561 | €653,154 | +€79,593 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €98,000 | €307,481 | +€209,481 | +213.8% |
| Trade debts | 44 | - | €289 | +€289 | |
| Suppliers | 440/4 | - | €289 | +€289 | |
| Taxes, remuneration and social security | 45 | €141,561 | €9,384 | -€132,177 | -93.4% |
| Taxes | 450/3 | €141,561 | €9,384 | -€132,177 | -93.4% |
| Other amounts payable | 47/48 | €334,000 | €336,000 | +€2,000 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,717 | €4,448 | +€2,731 | +159.1% |
| Other operating charges | 640/8 | €16,658 | €13,632 | -€3,026 | -18.2% |
| Gross operating margin | 9900 | €490,983 | €487,234 | -€3,749 | -0.8% |
| Operating profit (loss) | 9901 | €472,608 | €469,154 | -€3,454 | -0.7% |
| Financial income | 75/76B | - | €28 | +€28 | |
| Recurring financial income | 75 | - | €28 | +€28 | |
| Financial charges | 65/66B | €4,940 | €4,164 | -€776 | -15.7% |
| Recurring financial charges | 65 | €4,940 | €4,164 | -€776 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €467,668 | €465,018 | -€2,650 | -0.6% |
| Income taxes | 67/77 | €133,253 | €129,000 | -€4,253 | -3.2% |
| Profit (loss) for the period | 9904 | €334,415 | €336,018 | +€1,603 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €334,415 | €336,018 | +€1,603 | +0.5% |
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 9 October 2026 via checked.be.