Marguerite: 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.
Marguerite
Largest movements
- Stocks and contracts -€699,087
down €699,087 (-44.4%), from €1.6m to €875,146
- Cash +€240,328
up €240,328 (+816%), from €29,443 to €269,771
mainly Stocks and contracts (+€699,087) and Other debts (+€409,367)
- Receivables within one year +€58,779
up €58,779 (+92.5%), from €63,558 to €122,337
of which Trade receivables: +€71,962
- Profit (loss) carried forward -€629,095
down €629,095 (-94.2%), from -€667,890 to -€1.3m
- Debts after one year -€454,667
down €454,667 (-100%), from €454,667 to €0
- Other debts +€409,367
up €409,367 (+23.0%), from €1.8m to €2.2m
- Advances received +€345,582
up €345,582, from €0 to €345,582
- Trade debts -€57,803
down €57,803 (-83.4%), from €69,326 to €11,523
- Write-downs +€387,030
new in 2025: €387,030
- Gross operating margin +€296,440
up €296,440 (+58.5%), from -€506,570 to -€210,130
- Financial charges -€22,678
down €22,678 (-44.6%), from €50,883 to €28,205
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 | €1,667,598 | €1,267,253 | -€400,345 | -24.0% |
| Formation expenses | 20 | €16 | €0 | -€16 | -100% |
| Current assets | 29/58 | €1,667,582 | €1,267,253 | -€400,329 | -24.0% |
| Stocks and contracts in progress | 3 | €1,574,233 | €875,146 | -€699,087 | -44.4% |
| Stocks | 30/36 | €1,574,233 | €875,146 | -€699,087 | -44.4% |
| Amounts receivable within one year | 40/41 | €63,558 | €122,337 | +€58,779 | +92.5% |
| Trade receivables | 40 | €49,875 | €121,836 | +€71,962 | +144% |
| Other amounts receivable | 41 | €13,683 | €500 | -€13,182 | -96.3% |
| Cash at bank and in hand | 54/58 | €29,443 | €269,771 | +€240,328 | +816% |
| Deferred charges and accrued income | 490/1 | €349 | €0 | -€349 | -100% |
| Total equity and liabilities | 10/49 | €1,667,598 | €1,267,253 | -€400,345 | -24.0% |
| Equity | 10/15 | -€647,890 | -€1,276,984 | -€629,095 | -97.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€667,890 | -€1,296,984 | -€629,095 | -94.2% |
| Amounts payable | 17/49 | €2,315,488 | €2,544,238 | +€228,750 | +9.9% |
| Amounts payable after more than one year | 17 | €454,667 | €0 | -€454,667 | -100% |
| Financial debts | 170/4 | €454,667 | €0 | -€454,667 | -100% |
| Amounts payable within one year | 42/48 | €1,847,933 | €2,544,238 | +€696,305 | +37.7% |
| Trade debts | 44 | €69,326 | €11,523 | -€57,803 | -83.4% |
| Suppliers | 440/4 | €69,326 | €11,523 | -€57,803 | -83.4% |
| Advances received on contracts in progress | 46 | €0 | €345,582 | +€345,582 | |
| Taxes, remuneration and social security | 45 | €840 | €0 | -€840 | -100% |
| Taxes | 450/3 | €840 | €0 | -€840 | -100% |
| Other amounts payable | 47/48 | €1,777,767 | €2,187,133 | +€409,367 | +23.0% |
| Accrued charges and deferred income | 492/3 | €12,889 | €0 | -€12,889 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €402 | €16 | -€386 | -95.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €387,030 | +€387,030 | |
| Other operating charges | 640/8 | €499 | €3,713 | +€3,214 | +644% |
| Gross operating margin | 9900 | -€506,570 | -€210,130 | +€296,440 | +58.5% |
| Operating profit (loss) | 9901 | -€507,472 | -€600,890 | -€93,418 | -18.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €50,883 | €28,205 | -€22,678 | -44.6% |
| Recurring financial charges | 65 | €50,883 | €28,205 | -€22,678 | -44.6% |
| Profit (loss) for the period before taxes | 9903 | -€558,354 | -€629,095 | -€70,741 | -12.7% |
| Profit (loss) for the period | 9904 | -€558,354 | -€629,095 | -€70,741 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€558,354 | -€629,095 | -€70,741 | -12.7% |
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 18 October 2026 via checked.be.