Margriet: 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.
Margriet
Largest movements
- Cash -€90,997
down €90,997 (-57.9%), from €157,178 to €66,181
mainly Receivables within one year (-€43,502) and Net result for the year (-€32,833)
- Receivables within one year +€43,502
up €43,502 (+200.8%), from €21,660 to €65,161
of which Trade receivables: +€40,034
- Tangible fixed assets -€31,100
down €31,100 (-18.3%), from €170,275 to €139,175
- Deferred charges and accrued income +€30,026
up €30,026 (+169.4%), from €17,720 to €47,746
- Profit (loss) carried forward -€32,833
new in 2025: -€32,833
- Debts after one year -€26,976
down €26,976 (-30.2%), from €89,351 to €62,375
- Trade debts +€8,187
up €8,187 (+112.2%), from €7,297 to €15,484
- Staff costs +€37,938
up €37,938 (+15.7%), from €241,743 to €279,681
- Gross operating margin -€13,564
down €13,564 (-4.5%), from €299,528 to €285,965
- Taxes -€4,559
down €4,559 (-100.0%), from €4,559 to €0
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 | €372,342 | €322,289 | -€50,053 | -13.4% |
| Fixed assets | 21/28 | €170,794 | €139,694 | -€31,100 | -18.2% |
| Tangible fixed assets | 22/27 | €170,275 | €139,175 | -€31,100 | -18.3% |
| Land and buildings | 22 | €70,173 | €56,395 | -€13,778 | -19.6% |
| Plant, machinery and equipment | 23 | €58,762 | €46,811 | -€11,952 | -20.3% |
| Furniture and vehicles | 24 | €6,269 | €4,901 | -€1,368 | -21.8% |
| Other tangible fixed assets | 26 | €35,071 | €31,068 | -€4,003 | -11.4% |
| Financial fixed assets | 28 | €519 | €519 | = | 0.0% |
| Current assets | 29/58 | €201,547 | €182,595 | -€18,953 | -9.4% |
| Stocks and contracts in progress | 3 | €4,989 | €3,507 | -€1,483 | -29.7% |
| Stocks | 30/36 | €4,989 | €3,507 | -€1,483 | -29.7% |
| Amounts receivable within one year | 40/41 | €21,660 | €65,161 | +€43,502 | +200.8% |
| Trade receivables | 40 | €7,131 | €47,164 | +€40,034 | +561.4% |
| Other amounts receivable | 41 | €14,529 | €17,997 | +€3,468 | +23.9% |
| Cash at bank and in hand | 54/58 | €157,178 | €66,181 | -€90,997 | -57.9% |
| Deferred charges and accrued income | 490/1 | €17,720 | €47,746 | +€30,026 | +169.4% |
| Total equity and liabilities | 10/49 | €372,342 | €322,289 | -€50,053 | -13.4% |
| Equity | 10/15 | €195,529 | €162,695 | -€32,833 | -16.8% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €135,529 | €135,529 | = | 0.0% |
| Distributable reserves | 133 | €135,529 | €135,529 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€32,833 | -€32,833 | |
| Amounts payable | 17/49 | €176,813 | €159,594 | -€17,220 | -9.7% |
| Amounts payable after more than one year | 17 | €89,351 | €62,375 | -€26,976 | -30.2% |
| Financial debts | 170/4 | €89,351 | €62,375 | -€26,976 | -30.2% |
| Amounts payable within one year | 42/48 | €87,463 | €97,219 | +€9,756 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €28,398 | €28,784 | +€386 | +1.4% |
| Financial debts | 43 | €1 | €1 | = | 0.0% |
| Credit institutions | 430/8 | €1 | €1 | = | 0.0% |
| Trade debts | 44 | €7,297 | €15,484 | +€8,187 | +112.2% |
| Suppliers | 440/4 | €7,297 | €15,484 | +€8,187 | +112.2% |
| Taxes, remuneration and social security | 45 | €48,023 | €49,286 | +€1,263 | +2.6% |
| Taxes | 450/3 | €17,799 | €6,846 | -€10,953 | -61.5% |
| Remuneration and social security | 454/9 | €30,223 | €42,440 | +€12,216 | +40.4% |
| Other amounts payable | 47/48 | €3,744 | €3,664 | -€80 | -2.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €241,743 | €279,681 | +€37,938 | +15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,908 | €35,799 | -€109 | -0.3% |
| Other operating charges | 640/8 | €1,751 | €1,669 | -€82 | -4.7% |
| Gross operating margin | 9900 | €299,528 | €285,965 | -€13,564 | -4.5% |
| Operating profit (loss) | 9901 | €20,126 | -€31,185 | -€51,311 | |
| Financial income | 75/76B | €540 | €14 | -€525 | -97.4% |
| Recurring financial income | 75 | €540 | €14 | -€525 | -97.4% |
| Financial charges | 65/66B | €3,591 | €1,663 | -€1,928 | -53.7% |
| Recurring financial charges | 65 | €3,591 | €1,663 | -€1,928 | -53.7% |
| Profit (loss) for the period before taxes | 9903 | €17,075 | -€32,833 | -€49,908 | |
| Income taxes | 67/77 | €4,559 | €0 | -€4,559 | -100.0% |
| Profit (loss) for the period | 9904 | €12,516 | -€32,833 | -€45,349 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,516 | -€32,833 | -€45,349 |
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.