MARIGOLD Developments: 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.
MARIGOLD Developments
Largest movements
- Stocks and contracts -€986,649
down €986,649 (-100%), from €986,649 to €0
- Tangible fixed assets +€955,986
new in 2025: €955,986
of which Land and buildings: +€947,164
- Cash -€493,512
down €493,512 (-100.0%), from €493,554 to €42
mainly Short-term financial debts (-€1.0m) and Investment in fixed assets (net) (-€1.0m)
- Short-term financial debts -€1.0m
down €1.0m (-100%), from €1.0m to €0
- Other debts +€641,336
up €641,336 (+186%), from €344,655 to €985,991
- Profit (loss) carried forward -€134,580
down €134,580 (-2,280%), from -€5,902 to -€140,482
- Depreciation +€49,652
new in 2025: €49,652
- Financial charges +€37,648
up €37,648 (+102%), from €36,961 to €74,609
- Gross operating margin -€35,500
down €35,500, from €25,143 to -€10,356
- Financial income -€5,876
down €5,876 (-95.7%), from €6,141 to €266
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 | €1,480,202 | €956,027 | -€524,175 | -35.4% |
| Fixed assets | 21/28 | - | €955,986 | +€955,986 | |
| Tangible fixed assets | 22/27 | - | €955,986 | +€955,986 | |
| Land and buildings | 22 | - | €947,164 | +€947,164 | |
| Furniture and vehicles | 24 | - | €8,822 | +€8,822 | |
| Current assets | 29/58 | €1,480,202 | €42 | -€1.5m | -100.0% |
| Stocks and contracts in progress | 3 | €986,649 | €0 | -€986,649 | -100% |
| Stocks | 30/36 | €986,649 | €0 | -€986,649 | -100% |
| Cash at bank and in hand | 54/58 | €493,554 | €42 | -€493,512 | -100.0% |
| Total equity and liabilities | 10/49 | €1,480,202 | €956,027 | -€524,175 | -35.4% |
| Equity | 10/15 | €94,098 | -€40,482 | -€134,580 | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,902 | -€140,482 | -€134,580 | -2,280% |
| Amounts payable | 17/49 | €1,386,104 | €996,509 | -€389,595 | -28.1% |
| Amounts payable within one year | 42/48 | €1,384,273 | €996,509 | -€387,764 | -28.0% |
| Financial debts | 43 | €1,031,146 | €0 | -€1.0m | -100% |
| Credit institutions | 430/8 | €1,031,146 | €0 | -€1.0m | -100% |
| Trade debts | 44 | €8,472 | €10,518 | +€2,046 | +24.2% |
| Suppliers | 440/4 | €8,472 | €10,518 | +€2,046 | +24.2% |
| Other amounts payable | 47/48 | €344,655 | €985,991 | +€641,336 | +186% |
| Accrued charges and deferred income | 492/3 | €1,831 | €0 | -€1,831 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €49,652 | +€49,652 | |
| Other operating charges | 640/8 | €226 | €228 | +€2 | +0.9% |
| Gross operating margin | 9900 | €25,143 | -€10,356 | -€35,500 | |
| Operating profit (loss) | 9901 | €24,917 | -€60,236 | -€85,154 | |
| Financial income | 75/76B | €6,141 | €266 | -€5,876 | -95.7% |
| Recurring financial income | 75 | €6,141 | €266 | -€5,876 | -95.7% |
| Financial charges | 65/66B | €36,961 | €74,609 | +€37,648 | +102% |
| Recurring financial charges | 65 | €36,961 | €74,609 | +€37,648 | +102% |
| Profit (loss) for the period before taxes | 9903 | -€5,902 | -€134,580 | -€128,677 | -2,180% |
| Profit (loss) for the period | 9904 | -€5,902 | -€134,580 | -€128,677 | -2,180% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,902 | -€134,580 | -€128,677 | -2,180% |
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 15 October 2026 via checked.be.