Margodt Ignace: 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.
Margodt Ignace
Largest movements
- Current investments +€50,000
up €50,000 (+167%), from €30,000 to €80,000
- Receivables within one year -€31,680
down €31,680 (-40.0%), from €79,245 to €47,565
of which Trade receivables: -€28,337
- Tangible fixed assets -€20,130
down €20,130 (-28.8%), from €69,867 to €49,737
of which Furniture and vehicles: -€22,859
- Cash -€9,651
down €9,651 (-14.4%), from €66,978 to €57,327
mainly Contributions, distributions and other (-€114,489) and Current investments (-€50,000)
- Other debts +€71,176
up €71,176 (+182%), from €39,112 to €110,288
- Reserves -€52,163
down €52,163 (-21.3%), from €245,311 to €193,148
- Trade debts -€31,318
down €31,318 (-56.4%), from €55,497 to €24,179
- Debts after one year -€24,135
down €24,135 (-95.7%), from €25,209 to €1,074
- Short-term financial debts +€15,000
up €15,000 (+150%), from €10,000 to €25,000
- Gross operating margin +€19,539
up €19,539 (+14.0%), from €139,778 to €159,317
- Staff costs -€15,118
down €15,118 (-27.8%), from €54,401 to €39,283
- Taxes +€9,703
up €9,703 (+44.8%), from €21,654 to €31,358
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 | €433,992 | €416,817 | -€17,175 | -4.0% |
| Fixed assets | 21/28 | €69,867 | €49,737 | -€20,130 | -28.8% |
| Tangible fixed assets | 22/27 | €69,867 | €49,737 | -€20,130 | -28.8% |
| Plant, machinery and equipment | 23 | €11,086 | €13,815 | +€2,729 | +24.6% |
| Furniture and vehicles | 24 | €58,781 | €35,922 | -€22,859 | -38.9% |
| Current assets | 29/58 | €364,125 | €367,080 | +€2,955 | +0.8% |
| Amounts receivable after more than one year | 29 | €176,858 | €175,619 | -€1,239 | -0.7% |
| Other amounts receivable | 291 | €176,858 | €175,619 | -€1,239 | -0.7% |
| Stocks and contracts in progress | 3 | €6,300 | €3,919 | -€2,382 | -37.8% |
| Stocks | 30/36 | €6,300 | €3,919 | -€2,382 | -37.8% |
| Amounts receivable within one year | 40/41 | €79,245 | €47,565 | -€31,680 | -40.0% |
| Trade receivables | 40 | €73,072 | €44,735 | -€28,337 | -38.8% |
| Other amounts receivable | 41 | €6,173 | €2,830 | -€3,343 | -54.1% |
| Current investments | 50/53 | €30,000 | €80,000 | +€50,000 | +167% |
| Cash at bank and in hand | 54/58 | €66,978 | €57,327 | -€9,651 | -14.4% |
| Deferred charges and accrued income | 490/1 | €4,743 | €2,650 | -€2,093 | -44.1% |
| Total equity and liabilities | 10/49 | €433,992 | €416,817 | -€17,175 | -4.0% |
| Equity | 10/15 | €263,911 | €211,748 | -€52,163 | -19.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €245,311 | €193,148 | -€52,163 | -21.3% |
| Distributable reserves | 133 | €245,311 | €193,148 | -€52,163 | -21.3% |
| Amounts payable | 17/49 | €170,080 | €205,069 | +€34,988 | +20.6% |
| Amounts payable after more than one year | 17 | €25,209 | €1,074 | -€24,135 | -95.7% |
| Financial debts | 170/4 | €25,209 | €1,074 | -€24,135 | -95.7% |
| Amounts payable within one year | 42/48 | €144,588 | €203,705 | +€59,117 | +40.9% |
| Current portion of amounts payable after more than one year | 42 | €23,748 | €24,135 | +€387 | +1.6% |
| Financial debts | 43 | €10,000 | €25,000 | +€15,000 | +150% |
| Credit institutions | 430/8 | €10,000 | €25,000 | +€15,000 | +150% |
| Trade debts | 44 | €55,497 | €24,179 | -€31,318 | -56.4% |
| Suppliers | 440/4 | €55,497 | €24,179 | -€31,318 | -56.4% |
| Taxes, remuneration and social security | 45 | €16,231 | €20,103 | +€3,872 | +23.9% |
| Taxes | 450/3 | €8,011 | €14,321 | +€6,310 | +78.8% |
| Remuneration and social security | 454/9 | €8,220 | €5,782 | -€2,438 | -29.7% |
| Other amounts payable | 47/48 | €39,112 | €110,288 | +€71,176 | +182% |
| Accrued charges and deferred income | 492/3 | €284 | €289 | +€6 | +2.0% |
| Remuneration, social security and pensions | 62 | €54,401 | €39,283 | -€15,118 | -27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,243 | €27,944 | +€700 | +2.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,086 | +€1,086 | |
| Other operating charges | 640/8 | €814 | €710 | -€104 | -12.8% |
| Gross operating margin | 9900 | €139,778 | €159,317 | +€19,539 | +14.0% |
| Operating profit (loss) | 9901 | €57,319 | €90,295 | +€32,975 | +57.5% |
| Financial income | 75/76B | €7,171 | €5,961 | -€1,210 | -16.9% |
| Recurring financial income | 75 | €7,171 | €5,961 | -€1,210 | -16.9% |
| Financial charges | 65/66B | €2,649 | €2,572 | -€77 | -2.9% |
| Recurring financial charges | 65 | €2,649 | €2,572 | -€77 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €61,841 | €93,683 | +€31,842 | +51.5% |
| Income taxes | 67/77 | €21,654 | €31,358 | +€9,703 | +44.8% |
| Profit (loss) for the period | 9904 | €40,187 | €62,326 | +€22,139 | +55.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,187 | €62,326 | +€22,139 | +55.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.