Margot Mariën: 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.
Margot Mariën
Largest movements
- Tangible fixed assets +€159,039
up €159,039 (+15.9%), from €997,811 to €1.2m
of which Land and buildings: +€817,233
- Cash -€25,974
down €25,974 (-24.5%), from €106,158 to €80,184
mainly Investment in fixed assets (net) (-€235,264) and Trade debts (-€179,453)
- Debts after one year +€289,526
up €289,526 (+39.7%), from €729,820 to €1.0m
- Trade debts -€179,453
down €179,453 (-95.8%), from €187,378 to €7,925
- Other debts +€40,930
up €40,930 (+1,142%), from €3,585 to €44,515
- Reserves -€25,050
down €25,050 (-17.7%), from €141,427 to €116,377
- Gross operating margin +€149,058
up €149,058 (+286%), from €52,144 to €201,201
- Depreciation +€69,648
up €69,648 (+1,059%), from €6,577 to €76,224
- Financial charges +€21,037
up €21,037 (+114%), from €18,395 to €39,432
- Taxes +€4,263
up €4,263 (+181%), from €2,352 to €6,615
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 | €1,113,867 | €1,246,891 | +€133,024 | +11.9% |
| Fixed assets | 21/28 | €997,811 | €1,156,851 | +€159,039 | +15.9% |
| Tangible fixed assets | 22/27 | €997,811 | €1,156,851 | +€159,039 | +15.9% |
| Land and buildings | 22 | €143,385 | €960,618 | +€817,233 | +570% |
| Plant, machinery and equipment | 23 | €4,123 | €46,492 | +€42,369 | +1,028% |
| Furniture and vehicles | 24 | €31,587 | €24,762 | -€6,826 | -21.6% |
| Leasing and similar rights | 25 | €95,633 | €124,979 | +€29,346 | +30.7% |
| Assets under construction and advance payments | 27 | €723,082 | €0 | -€723,082 | -100% |
| Current assets | 29/58 | €116,055 | €90,040 | -€26,015 | -22.4% |
| Stocks and contracts in progress | 3 | €735 | €1,750 | +€1,015 | +138% |
| Stocks | 30/36 | €735 | €1,750 | +€1,015 | +138% |
| Amounts receivable within one year | 40/41 | €2,917 | €113 | -€2,804 | -96.1% |
| Trade receivables | 40 | €2,917 | €113 | -€2,804 | -96.1% |
| Cash at bank and in hand | 54/58 | €106,158 | €80,184 | -€25,974 | -24.5% |
| Deferred charges and accrued income | 490/1 | €6,245 | €7,993 | +€1,748 | +28.0% |
| Total equity and liabilities | 10/49 | €1,113,867 | €1,246,891 | +€133,024 | +11.9% |
| Equity | 10/15 | €144,427 | €119,377 | -€25,050 | -17.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €141,427 | €116,377 | -€25,050 | -17.7% |
| Distributable reserves | 133 | €141,427 | €116,377 | -€25,050 | -17.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €969,440 | €1,127,514 | +€158,074 | +16.3% |
| Amounts payable after more than one year | 17 | €729,820 | €1,019,346 | +€289,526 | +39.7% |
| Financial debts | 170/4 | €729,820 | €1,019,346 | +€289,526 | +39.7% |
| Amounts payable within one year | 42/48 | €239,491 | €107,740 | -€131,751 | -55.0% |
| Current portion of amounts payable after more than one year | 42 | €45,307 | €53,676 | +€8,369 | +18.5% |
| Financial debts | 43 | - | €19 | +€19 | |
| Credit institutions | 430/8 | - | €19 | +€19 | |
| Trade debts | 44 | €187,378 | €7,925 | -€179,453 | -95.8% |
| Suppliers | 440/4 | €187,378 | €7,925 | -€179,453 | -95.8% |
| Taxes, remuneration and social security | 45 | €3,221 | €1,604 | -€1,617 | -50.2% |
| Taxes | 450/3 | €3,221 | €1,604 | -€1,617 | -50.2% |
| Other amounts payable | 47/48 | €3,585 | €44,515 | +€40,930 | +1,142% |
| Accrued charges and deferred income | 492/3 | €130 | €428 | +€298 | +230% |
| Non-recurring operating income | 76A | - | €4,779 | +€4,779 | |
| Remuneration, social security and pensions | 62 | - | €231 | +€231 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,577 | €76,224 | +€69,648 | +1,059% |
| Other operating charges | 640/8 | €3,140 | €3,823 | +€683 | +21.7% |
| Gross operating margin | 9900 | €52,144 | €201,201 | +€149,058 | +286% |
| Operating profit (loss) | 9901 | €42,427 | €120,923 | +€78,496 | +185% |
| Financial income | 75/76B | €0 | €75 | +€75 | +747,100% |
| Recurring financial income | 75 | €0 | €75 | +€75 | +747,100% |
| Financial charges | 65/66B | €18,395 | €39,432 | +€21,037 | +114% |
| Recurring financial charges | 65 | €18,395 | €39,432 | +€21,037 | +114% |
| Profit (loss) for the period before taxes | 9903 | €24,033 | €81,566 | +€57,533 | +239% |
| Income taxes | 67/77 | €2,352 | €6,615 | +€4,263 | +181% |
| Profit (loss) for the period | 9904 | €21,680 | €74,950 | +€53,270 | +246% |
| Profit (loss) for the period to be appropriated | 9905 | €21,680 | €74,950 | +€53,270 | +246% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.