MARGIS: 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.
MARGIS
Largest movements
- Tangible fixed assets -€30,779
down €30,779 (-12.3%), from €250,753 to €219,975
of which Land and buildings: -€28,889
- Receivables within one year +€6,834
up €6,834 (+213.4%), from €3,203 to €10,037
- Cash +€4,635
up €4,635 (+58.6%), from €7,913 to €12,547
mainly Depreciation (+€30,779) and Net result for the year (+€5,510)
- Debts after one year -€24,000
down €24,000 (-21.8%), from €110,000 to €86,000
- Profit (loss) carried forward +€5,510
up €5,510 (+43.3%), from €12,723 to €18,232
- Financial charges -€4,871
down €4,871 (-40.8%), from €11,946 to €7,074
- Gross operating margin +€4,710
up €4,710 (+10.6%), from €44,410 to €49,120
- Taxes +€552
new in 2025: €552
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 | €261,869 | €242,559 | -€19,310 | -7.4% |
| Fixed assets | 21/28 | €250,753 | €219,975 | -€30,779 | -12.3% |
| Tangible fixed assets | 22/27 | €250,753 | €219,975 | -€30,779 | -12.3% |
| Land and buildings | 22 | €245,099 | €216,210 | -€28,889 | -11.8% |
| Plant, machinery and equipment | 23 | €5,654 | €3,765 | -€1,890 | -33.4% |
| Current assets | 29/58 | €11,116 | €22,584 | +€11,468 | +103.2% |
| Amounts receivable within one year | 40/41 | €3,203 | €10,037 | +€6,834 | +213.4% |
| Trade receivables | 40 | €3,203 | €10,037 | +€6,834 | +213.4% |
| Cash at bank and in hand | 54/58 | €7,913 | €12,547 | +€4,635 | +58.6% |
| Total equity and liabilities | 10/49 | €261,869 | €242,559 | -€19,310 | -7.4% |
| Equity | 10/15 | €33,175 | €38,684 | +€5,510 | +16.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €12,723 | €18,232 | +€5,510 | +43.3% |
| Amounts payable | 17/49 | €228,694 | €203,874 | -€24,820 | -10.9% |
| Amounts payable after more than one year | 17 | €110,000 | €86,000 | -€24,000 | -21.8% |
| Financial debts | 170/4 | €110,000 | €86,000 | -€24,000 | -21.8% |
| Amounts payable within one year | 42/48 | €118,694 | €117,874 | -€820 | -0.7% |
| Trade debts | 44 | - | €294 | +€294 | |
| Suppliers | 440/4 | - | €294 | +€294 | |
| Taxes, remuneration and social security | 45 | €1,571 | €2,291 | +€720 | +45.8% |
| Taxes | 450/3 | €1,571 | €2,291 | +€720 | +45.8% |
| Other amounts payable | 47/48 | €117,123 | €115,289 | -€1,834 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,089 | €30,779 | -€310 | -1.0% |
| Other operating charges | 640/8 | €4,984 | €5,016 | +€32 | +0.6% |
| Non-recurring operating charges | 66A | - | €190 | +€190 | |
| Gross operating margin | 9900 | €44,410 | €49,120 | +€4,710 | +10.6% |
| Operating profit (loss) | 9901 | €8,337 | €13,135 | +€4,798 | +57.5% |
| Financial income | 75/76B | €3 | €1 | -€2 | -63.5% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -63.5% |
| Financial charges | 65/66B | €11,946 | €7,074 | -€4,871 | -40.8% |
| Recurring financial charges | 65 | €11,946 | €7,074 | -€4,871 | -40.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,606 | €6,061 | +€9,667 | |
| Income taxes | 67/77 | - | €552 | +€552 | |
| Profit (loss) for the period | 9904 | -€3,606 | €5,510 | +€9,115 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,606 | €5,510 | +€9,115 |
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 4 October 2026 via checked.be.