MARGO & CO: 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.
MARGO & CO
Largest movements
- Tangible fixed assets +€37,709
up €37,709 (+14.7%), from €257,281 to €294,990
of which Land and buildings: +€43,353
- Cash -€16,271
down €16,271 (-37.5%), from €43,360 to €27,088
mainly Investment in fixed assets (net) (-€59,854) and Trade debts (-€32,339)
- Receivables within one year -€12,373
down €12,373 (-40.6%), from €30,509 to €18,136
of which Trade receivables: -€7,004
- Reserves +€34,373
up €34,373 (+73.3%), from €46,878 to €81,252
- Trade debts -€32,339
down €32,339 (-69.2%), from €46,719 to €14,380
- Current portion of long-term debt +€5,386
up €5,386 (+34.6%), from €15,587 to €20,973
- Staff costs -€19,610
down €19,610 (-94.4%), from €20,780 to €1,170
- Other operating charges -€11,218
down €11,218 (-88.5%), from €12,680 to €1,463
- Depreciation +€6,535
up €6,535 (+41.3%), from €15,810 to €22,345
- Gross operating margin +€6,185
up €6,185 (+8.3%), from €74,768 to €80,953
- Taxes +€5,572
up €5,572 (+3,847%), from €145 to €5,716
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.
Derived cash bridge
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 | €338,446 | €347,071 | +€8,625 | +2.5% |
| Fixed assets | 21/28 | €258,886 | €296,395 | +€37,509 | +14.5% |
| Tangible fixed assets | 22/27 | €257,281 | €294,990 | +€37,709 | +14.7% |
| Land and buildings | 22 | €230,889 | €274,242 | +€43,353 | +18.8% |
| Plant, machinery and equipment | 23 | €108 | €0 | -€108 | -100% |
| Furniture and vehicles | 24 | €26,284 | €20,748 | -€5,536 | -21.1% |
| Financial fixed assets | 28 | €1,605 | €1,405 | -€200 | -12.5% |
| Current assets | 29/58 | €79,560 | €50,676 | -€28,884 | -36.3% |
| Amounts receivable within one year | 40/41 | €30,509 | €18,136 | -€12,373 | -40.6% |
| Trade receivables | 40 | €24,301 | €17,297 | -€7,004 | -28.8% |
| Other amounts receivable | 41 | €6,208 | €839 | -€5,369 | -86.5% |
| Cash at bank and in hand | 54/58 | €43,360 | €27,088 | -€16,271 | -37.5% |
| Deferred charges and accrued income | 490/1 | €5,691 | €5,452 | -€240 | -4.2% |
| Total equity and liabilities | 10/49 | €338,446 | €347,071 | +€8,625 | +2.5% |
| Equity | 10/15 | €53,078 | €87,452 | +€34,373 | +64.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €46,878 | €81,252 | +€34,373 | +73.3% |
| Distributable reserves | 133 | €46,878 | €81,252 | +€34,373 | +73.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €285,368 | €259,619 | -€25,748 | -9.0% |
| Amounts payable after more than one year | 17 | €148,220 | €148,810 | +€591 | +0.4% |
| Financial debts | 170/4 | €148,220 | €148,810 | +€591 | +0.4% |
| Amounts payable within one year | 42/48 | €137,080 | €110,741 | -€26,339 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €15,587 | €20,973 | +€5,386 | +34.6% |
| Financial debts | 43 | - | €75 | +€75 | |
| Credit institutions | 430/8 | - | €75 | +€75 | |
| Trade debts | 44 | €46,719 | €14,380 | -€32,339 | -69.2% |
| Suppliers | 440/4 | €46,719 | €14,380 | -€32,339 | -69.2% |
| Taxes, remuneration and social security | 45 | €6,128 | €9,224 | +€3,096 | +50.5% |
| Taxes | 450/3 | €2,828 | €3,349 | +€521 | +18.4% |
| Remuneration and social security | 454/9 | €3,300 | €5,875 | +€2,575 | +78.0% |
| Other amounts payable | 47/48 | €68,647 | €66,090 | -€2,556 | -3.7% |
| Accrued charges and deferred income | 492/3 | €68 | €68 | +€0 | +0.3% |
| Non-recurring operating income | 76A | €13,015 | €9,809 | -€3,206 | -24.6% |
| Remuneration, social security and pensions | 62 | €20,780 | €1,170 | -€19,610 | -94.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,810 | €22,345 | +€6,535 | +41.3% |
| Other operating charges | 640/8 | €12,680 | €1,463 | -€11,218 | -88.5% |
| Non-recurring operating charges | 66A | €452 | €0 | -€452 | -100% |
| Gross operating margin | 9900 | €74,768 | €80,953 | +€6,185 | +8.3% |
| Operating profit (loss) | 9901 | €25,046 | €55,976 | +€30,930 | +123% |
| Financial income | 75/76B | €0 | €288 | +€288 | +2,882,000% |
| Recurring financial income | 75 | €0 | €288 | +€288 | +2,882,000% |
| Financial charges | 65/66B | €16,279 | €16,174 | -€105 | -0.6% |
| Recurring financial charges | 65 | €16,279 | €16,174 | -€105 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | €8,767 | €40,090 | +€31,322 | +357% |
| Income taxes | 67/77 | €145 | €5,716 | +€5,572 | +3,847% |
| Profit (loss) for the period | 9904 | €8,623 | €34,373 | +€25,751 | +299% |
| Profit (loss) for the period to be appropriated | 9905 | €8,623 | €34,373 | +€25,751 | +299% |
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 22 October 2026 via checked.be.