MarginWeb: 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.
MarginWeb
Largest movements
- Tangible fixed assets +€47,517
up €47,517 (+1897.2%), from €2,505 to €50,022
- Cash +€26,874
up €26,874 (+11.9%), from €224,951 to €251,824
mainly Net result for the year (+€69,375) and Other debts (+€18,080)
- Receivables within one year -€5,591
down €5,591 (-28.3%), from €19,723 to €14,132
of which Other amounts receivable: -€6,132
- Reserves +€43,489
up €43,489 (+26.7%), from €163,144 to €206,633
of which Distributable reserves: +€43,489
- Other debts +€18,080
up €18,080 (+33.5%), from €54,015 to €72,095
- Profit (loss) carried forward +€5,739
up €5,739 (+87.0%), from €6,597 to €12,335
- Gross operating margin +€12,565
up €12,565 (+13.6%), from €92,116 to €104,681
- Depreciation +€6,890
up €6,890 (+519.1%), from €1,327 to €8,218
- Taxes +€1,504
up €1,504 (+6.0%), from €24,876 to €26,380
- Other operating charges +€1,205
up €1,205 (+221.2%), from €545 to €1,750
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 | €250,138 | €318,937 | +€68,799 | +27.5% |
| Fixed assets | 21/28 | €2,505 | €50,022 | +€47,517 | +1897.2% |
| Tangible fixed assets | 22/27 | €2,505 | €50,022 | +€47,517 | +1897.2% |
| Furniture and vehicles | 24 | €2,505 | €50,022 | +€47,517 | +1897.2% |
| Current assets | 29/58 | €247,633 | €268,915 | +€21,282 | +8.6% |
| Amounts receivable within one year | 40/41 | €19,723 | €14,132 | -€5,591 | -28.3% |
| Trade receivables | 40 | €13,591 | €14,132 | +€541 | +4.0% |
| Other amounts receivable | 41 | €6,132 | €0 | -€6,132 | -100.0% |
| Cash at bank and in hand | 54/58 | €224,951 | €251,824 | +€26,874 | +11.9% |
| Deferred charges and accrued income | 490/1 | €2,959 | €2,959 | -€0 | 0.0% |
| Total equity and liabilities | 10/49 | €250,138 | €318,937 | +€68,799 | +27.5% |
| Equity | 10/15 | €175,940 | €225,168 | +€49,228 | +28.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €163,144 | €206,633 | +€43,489 | +26.7% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €163,144 | €206,633 | +€43,489 | +26.7% |
| Profit (loss) carried forward | 14 | €6,597 | €12,335 | +€5,739 | +87.0% |
| Amounts payable | 17/49 | €74,197 | €93,768 | +€19,571 | +26.4% |
| Amounts payable within one year | 42/48 | €74,197 | €93,768 | +€19,571 | +26.4% |
| Trade debts | 44 | €812 | €1,382 | +€571 | +70.3% |
| Suppliers | 440/4 | €812 | €1,382 | +€571 | +70.3% |
| Taxes, remuneration and social security | 45 | €19,371 | €20,291 | +€920 | +4.8% |
| Taxes | 450/3 | €17,472 | €18,392 | +€920 | +5.3% |
| Remuneration and social security | 454/9 | €1,899 | €1,899 | = | 0.0% |
| Other amounts payable | 47/48 | €54,015 | €72,095 | +€18,080 | +33.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,327 | €8,218 | +€6,890 | +519.1% |
| Other operating charges | 640/8 | €545 | €1,750 | +€1,205 | +221.2% |
| Gross operating margin | 9900 | €92,116 | €104,681 | +€12,565 | +13.6% |
| Operating profit (loss) | 9901 | €90,243 | €94,713 | +€4,470 | +5.0% |
| Financial income | 75/76B | €523 | €1,060 | +€537 | +102.6% |
| Recurring financial income | 75 | €523 | €1,060 | +€537 | +102.6% |
| Financial charges | 65/66B | €3 | €19 | +€15 | +452.8% |
| Recurring financial charges | 65 | €3 | €19 | +€15 | +452.8% |
| Profit (loss) for the period before taxes | 9903 | €90,764 | €95,755 | +€4,992 | +5.5% |
| Income taxes | 67/77 | €24,876 | €26,380 | +€1,504 | +6.0% |
| Profit (loss) for the period | 9904 | €65,888 | €69,375 | +€3,487 | +5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €65,888 | €69,375 | +€3,487 | +5.3% |
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 28 September 2026 via checked.be.