Marnik Aerts: 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.
Marnik Aerts
Largest movements
- Tangible fixed assets -€25,495
down €25,495 (-81.3%), from €31,377 to €5,882
of which Furniture and vehicles: -€21,946
- Cash +€22,955
up €22,955 (+38.2%), from €60,117 to €83,072
mainly Investment in fixed assets (net) (+€20,508) and Net result for the year (+€6,316)
- Stocks and contracts +€1,618
up €1,618 (+120%), from €1,352 to €2,971
- Reserves +€6,316
up €6,316 (+8.5%), from €74,155 to €80,471
- Other debts -€5,143
down €5,143 (-66.1%), from €7,780 to €2,637
- Tax, wage and social debts -€1,351
down €1,351 (-41.7%), from €3,241 to €1,891
- Other operating charges +€12,842
up €12,842 (+10,883%), from €118 to €12,960
- Gross operating margin +€2,863
up €2,863 (+11.5%), from €24,810 to €27,673
- Depreciation -€1,774
down €1,774 (-26.2%), from €6,761 to €4,986
- Taxes -€849
down €849 (-19.0%), from €4,470 to €3,621
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 | €100,491 | €100,178 | -€313 | -0.3% |
| Fixed assets | 21/28 | €31,377 | €5,882 | -€25,495 | -81.3% |
| Tangible fixed assets | 22/27 | €31,377 | €5,882 | -€25,495 | -81.3% |
| Plant, machinery and equipment | 23 | €9,166 | €5,616 | -€3,549 | -38.7% |
| Furniture and vehicles | 24 | €22,212 | €266 | -€21,946 | -98.8% |
| Current assets | 29/58 | €69,114 | €94,295 | +€25,182 | +36.4% |
| Stocks and contracts in progress | 3 | €1,352 | €2,971 | +€1,618 | +120% |
| Stocks | 30/36 | €1,352 | €2,971 | +€1,618 | +120% |
| Amounts receivable within one year | 40/41 | €7,525 | €8,253 | +€728 | +9.7% |
| Trade receivables | 40 | €5,525 | €5,798 | +€273 | +4.9% |
| Other amounts receivable | 41 | €2,000 | €2,455 | +€455 | +22.7% |
| Cash at bank and in hand | 54/58 | €60,117 | €83,072 | +€22,955 | +38.2% |
| Deferred charges and accrued income | 490/1 | €119 | - | -€119 | |
| Total equity and liabilities | 10/49 | €100,491 | €100,178 | -€313 | -0.3% |
| Equity | 10/15 | €89,155 | €95,471 | +€6,316 | +7.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €74,155 | €80,471 | +€6,316 | +8.5% |
| Distributable reserves | 133 | €74,155 | €80,471 | +€6,316 | +8.5% |
| Amounts payable | 17/49 | €11,336 | €4,707 | -€6,629 | -58.5% |
| Amounts payable within one year | 42/48 | €11,336 | €4,707 | -€6,629 | -58.5% |
| Trade debts | 44 | €315 | €180 | -€135 | -42.9% |
| Suppliers | 440/4 | €315 | €180 | -€135 | -42.9% |
| Taxes, remuneration and social security | 45 | €3,241 | €1,891 | -€1,351 | -41.7% |
| Taxes | 450/3 | €3,241 | €1,891 | -€1,351 | -41.7% |
| Other amounts payable | 47/48 | €7,780 | €2,637 | -€5,143 | -66.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,761 | €4,986 | -€1,774 | -26.2% |
| Other operating charges | 640/8 | €118 | €12,960 | +€12,842 | +10,883% |
| Gross operating margin | 9900 | €24,810 | €27,673 | +€2,863 | +11.5% |
| Operating profit (loss) | 9901 | €17,931 | €9,726 | -€8,204 | -45.8% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | -€95 | -€210 | -€115 | -121% |
| Recurring financial charges | 65 | -€95 | -€210 | -€115 | -121% |
| Profit (loss) for the period before taxes | 9903 | €18,027 | €9,937 | -€8,090 | -44.9% |
| Income taxes | 67/77 | €4,470 | €3,621 | -€849 | -19.0% |
| Profit (loss) for the period | 9904 | €13,557 | €6,316 | -€7,241 | -53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,557 | €6,316 | -€7,241 | -53.4% |
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 19 October 2026 via checked.be.