Marion Debruyne: 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.
Marion Debruyne
Largest movements
- Receivables within one year -€107,615
down €107,615 (-31.3%), from €343,944 to €236,329
of which Other amounts receivable: -€145,035
- Cash +€89,063
up €89,063 (+126%), from €70,732 to €159,795
mainly Net result for the year (+€214,678) and Other debts (+€155,602)
- Tangible fixed assets -€22,704
down €22,704 (-4.0%), from €560,840 to €538,135
of which Land and buildings: -€20,421
- Receivables after one year +€19,500
up €19,500 (+2.4%), from €796,260 to €815,760
- Trade debts -€176,898
down €176,898 (-84.3%), from €209,876 to €32,979
- Other debts +€155,602
up €155,602 (+939%), from €16,575 to €172,177
- Tax, wage and social debts -€66,819
down €66,819 (-73.7%), from €90,660 to €23,841
- Reserves +€64,678
up €64,678 (+4.8%), from €1.3m to €1.4m
of which Distributable reserves: +€64,678
- Advances received +€40,317
new in 2025: €40,317
- Gross operating margin -€71,872
down €71,872 (-17.4%), from €413,124 to €341,252
- Taxes -€25,237
down €25,237 (-21.1%), from €119,474 to €94,237
- Financial charges +€10,807
up €10,807 (+174%), from €6,202 to €17,010
- Financial income +€6,017
up €6,017 (+39.5%), from €15,225 to €21,242
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 | €1,926,144 | €1,904,608 | -€21,535 | -1.1% |
| Fixed assets | 21/28 | €712,240 | €689,535 | -€22,704 | -3.2% |
| Tangible fixed assets | 22/27 | €560,840 | €538,135 | -€22,704 | -4.0% |
| Land and buildings | 22 | €549,756 | €529,335 | -€20,421 | -3.7% |
| Furniture and vehicles | 24 | €11,083 | €8,801 | -€2,283 | -20.6% |
| Financial fixed assets | 28 | €151,400 | €151,400 | = | 0.0% |
| Current assets | 29/58 | €1,213,904 | €1,215,073 | +€1,169 | +0.1% |
| Amounts receivable after more than one year | 29 | €796,260 | €815,760 | +€19,500 | +2.4% |
| Other amounts receivable | 291 | €796,260 | €815,760 | +€19,500 | +2.4% |
| Amounts receivable within one year | 40/41 | €343,944 | €236,329 | -€107,615 | -31.3% |
| Trade receivables | 40 | €75,111 | €112,530 | +€37,419 | +49.8% |
| Other amounts receivable | 41 | €268,833 | €123,799 | -€145,035 | -53.9% |
| Current investments | 50/53 | €304 | €304 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €70,732 | €159,795 | +€89,063 | +126% |
| Deferred charges and accrued income | 490/1 | €2,664 | €2,886 | +€221 | +8.3% |
| Total equity and liabilities | 10/49 | €1,926,144 | €1,904,608 | -€21,535 | -1.1% |
| Equity | 10/15 | €1,352,367 | €1,417,045 | +€64,678 | +4.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,339,967 | €1,404,645 | +€64,678 | +4.8% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,338,112 | €1,402,790 | +€64,678 | +4.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €573,777 | €487,563 | -€86,214 | -15.0% |
| Amounts payable after more than one year | 17 | €210,000 | €171,583 | -€38,417 | -18.3% |
| Financial debts | 170/4 | €210,000 | €163,333 | -€46,667 | -22.2% |
| Other amounts payable | 178/9 | - | €8,250 | +€8,250 | |
| Amounts payable within one year | 42/48 | €363,777 | €315,980 | -€47,797 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €46,667 | €46,667 | = | 0.0% |
| Trade debts | 44 | €209,876 | €32,979 | -€176,898 | -84.3% |
| Suppliers | 440/4 | €209,876 | €32,979 | -€176,898 | -84.3% |
| Advances received on contracts in progress | 46 | - | €40,317 | +€40,317 | |
| Taxes, remuneration and social security | 45 | €90,660 | €23,841 | -€66,819 | -73.7% |
| Taxes | 450/3 | €90,660 | €23,841 | -€66,819 | -73.7% |
| Other amounts payable | 47/48 | €16,575 | €172,177 | +€155,602 | +939% |
| Non-recurring operating income | 76A | €679 | €0 | -€679 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,348 | €26,444 | +€2,095 | +8.6% |
| Other operating charges | 640/8 | €10,670 | €10,126 | -€544 | -5.1% |
| Gross operating margin | 9900 | €413,124 | €341,252 | -€71,872 | -17.4% |
| Operating profit (loss) | 9901 | €378,106 | €304,683 | -€73,423 | -19.4% |
| Financial income | 75/76B | €15,225 | €21,242 | +€6,017 | +39.5% |
| Recurring financial income | 75 | €15,225 | €21,242 | +€6,017 | +39.5% |
| Financial charges | 65/66B | €6,202 | €17,010 | +€10,807 | +174% |
| Recurring financial charges | 65 | €6,202 | €17,010 | +€10,807 | +174% |
| Profit (loss) for the period before taxes | 9903 | €387,128 | €308,916 | -€78,213 | -20.2% |
| Income taxes | 67/77 | €119,474 | €94,237 | -€25,237 | -21.1% |
| Profit (loss) for the period | 9904 | €267,654 | €214,678 | -€52,976 | -19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €267,654 | €214,678 | -€52,976 | -19.8% |
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 14 October 2026 via checked.be.