Marlon Herrera: 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.
Marlon Herrera
Largest movements
- Cash -€12,018
down €12,018 (-9.3%), from €128,715 to €116,697
mainly Tax, wage and social debts (-€18,554) and Other debts (-€14,551)
- Stocks and contracts -€10,835
down €10,835 (-41.4%), from €26,200 to €15,365
- Tax, wage and social debts -€18,554
down €18,554 (-27.5%), from €67,389 to €48,834
of which Taxes: -€15,416
- Other debts -€14,551
down €14,551 (-31.8%), from €45,690 to €31,139
- Profit (loss) carried forward +€6,616
up €6,616 (+90257.6%), from €7 to €6,623
- Trade debts +€2,260
up €2,260 (+11.4%), from €19,912 to €22,172
- Gross operating margin -€122,384
down €122,384 (-48.6%), from €251,579 to €129,195
- Staff costs -€55,135
down €55,135 (-32.8%), from €167,908 to €112,774
- Taxes -€15,141
down €15,141 (-84.3%), from €17,957 to €2,816
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 | €182,918 | €160,489 | -€22,429 | -12.3% |
| Fixed assets | 21/28 | €20,014 | €18,557 | -€1,457 | -7.3% |
| Tangible fixed assets | 22/27 | €1,914 | €957 | -€957 | -50.0% |
| Other tangible fixed assets | 26 | €1,914 | €957 | -€957 | -50.0% |
| Financial fixed assets | 28 | €18,100 | €17,600 | -€500 | -2.8% |
| Current assets | 29/58 | €162,905 | €141,932 | -€20,972 | -12.9% |
| Stocks and contracts in progress | 3 | €26,200 | €15,365 | -€10,835 | -41.4% |
| Stocks | 30/36 | €26,200 | €15,365 | -€10,835 | -41.4% |
| Amounts receivable within one year | 40/41 | €7,990 | €9,039 | +€1,049 | +13.1% |
| Trade receivables | 40 | €7,990 | €1,655 | -€6,335 | -79.3% |
| Other amounts receivable | 41 | - | €7,384 | +€7,384 | |
| Cash at bank and in hand | 54/58 | €128,715 | €116,697 | -€12,018 | -9.3% |
| Deferred charges and accrued income | 490/1 | - | €831 | +€831 | |
| Total equity and liabilities | 10/49 | €182,918 | €160,489 | -€22,429 | -12.3% |
| Equity | 10/15 | €49,927 | €56,543 | +€6,616 | +13.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €44,920 | €44,920 | = | 0.0% |
| Distributable reserves | 133 | €44,920 | €44,920 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7 | €6,623 | +€6,616 | +90257.6% |
| Amounts payable | 17/49 | €132,991 | €103,946 | -€29,045 | -21.8% |
| Amounts payable within one year | 42/48 | €132,991 | €102,146 | -€30,845 | -23.2% |
| Trade debts | 44 | €19,912 | €22,172 | +€2,260 | +11.4% |
| Suppliers | 440/4 | €19,912 | €22,172 | +€2,260 | +11.4% |
| Taxes, remuneration and social security | 45 | €67,389 | €48,834 | -€18,554 | -27.5% |
| Taxes | 450/3 | €39,306 | €23,891 | -€15,416 | -39.2% |
| Remuneration and social security | 454/9 | €28,082 | €24,943 | -€3,139 | -11.2% |
| Other amounts payable | 47/48 | €45,690 | €31,139 | -€14,551 | -31.8% |
| Accrued charges and deferred income | 492/3 | - | €1,800 | +€1,800 | |
| Remuneration, social security and pensions | 62 | €167,908 | €112,774 | -€55,135 | -32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €958 | €957 | -€1 | -0.1% |
| Other operating charges | 640/8 | €5,327 | €5,871 | +€544 | +10.2% |
| Non-recurring operating charges | 66A | €8,992 | €0 | -€8,992 | -100.0% |
| Gross operating margin | 9900 | €251,579 | €129,195 | -€122,384 | -48.6% |
| Operating profit (loss) | 9901 | €68,394 | €9,593 | -€58,801 | -86.0% |
| Financial income | 75/76B | €83 | €1 | -€83 | -99.3% |
| Recurring financial income | 75 | €83 | €1 | -€83 | -99.3% |
| Financial charges | 65/66B | €1,093 | €162 | -€930 | -85.1% |
| Recurring financial charges | 65 | €1,093 | €162 | -€930 | -85.1% |
| Profit (loss) for the period before taxes | 9903 | €67,385 | €9,432 | -€57,953 | -86.0% |
| Income taxes | 67/77 | €17,957 | €2,816 | -€15,141 | -84.3% |
| Profit (loss) for the period | 9904 | €49,427 | €6,616 | -€42,811 | -86.6% |
| Profit (loss) for the period to be appropriated | 9905 | €49,427 | €6,616 | -€42,811 | -86.6% |
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 10 October 2026 via checked.be.