MARQUISE: 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.
MARQUISE
Largest movements
- Stocks and contracts -€13,649
down €13,649 (-79.6%), from €17,155 to €3,505
- Cash -€10,026
down €10,026 (-32.1%), from €31,213 to €21,187
mainly Net result for the year (-€18,280) and Debts after one year (-€4,735)
- Receivables within one year +€1,288
new in 2025: €1,288
- Profit (loss) carried forward -€18,280
down €18,280 (-36.5%), from -€50,102 to -€68,382
- Debts after one year -€4,735
down €4,735 (-64.8%), from €7,306 to €2,572
- Gross operating margin -€16,500
down €16,500, from €436 to -€16,064
- Write-downs -€4,353
down €4,353 (-76.1%), from €5,724 to €1,370
- Financial income -€305
no longer reported in 2025 (was €305)
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 | €49,172 | €26,311 | -€22,861 | -46.5% |
| Fixed assets | 21/28 | €586 | €331 | -€255 | -43.6% |
| Tangible fixed assets | 22/27 | €586 | €331 | -€255 | -43.6% |
| Plant, machinery and equipment | 23 | €586 | €331 | -€255 | -43.6% |
| Current assets | 29/58 | €48,586 | €25,980 | -€22,606 | -46.5% |
| Stocks and contracts in progress | 3 | €17,155 | €3,505 | -€13,649 | -79.6% |
| Stocks | 30/36 | €17,155 | €3,505 | -€13,649 | -79.6% |
| Amounts receivable within one year | 40/41 | - | €1,288 | +€1,288 | |
| Other amounts receivable | 41 | - | €1,288 | +€1,288 | |
| Cash at bank and in hand | 54/58 | €31,213 | €21,187 | -€10,026 | -32.1% |
| Deferred charges and accrued income | 490/1 | €218 | - | -€218 | |
| Total equity and liabilities | 10/49 | €49,172 | €26,311 | -€22,861 | -46.5% |
| Equity | 10/15 | €40,426 | €22,146 | -€18,280 | -45.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €28,528 | €28,528 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €22,328 | €22,328 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,102 | -€68,382 | -€18,280 | -36.5% |
| Amounts payable | 17/49 | €8,747 | €4,165 | -€4,581 | -52.4% |
| Amounts payable after more than one year | 17 | €7,306 | €2,572 | -€4,735 | -64.8% |
| Financial debts | 170/4 | €7,306 | €2,572 | -€4,735 | -64.8% |
| Amounts payable within one year | 42/48 | €1,440 | €1,593 | +€153 | +10.6% |
| Trade debts | 44 | €566 | €722 | +€156 | +27.6% |
| Suppliers | 440/4 | €566 | €722 | +€156 | +27.6% |
| Taxes, remuneration and social security | 45 | €6 | €3 | -€3 | -46.1% |
| Taxes | 450/3 | €6 | €3 | -€3 | -46.1% |
| Other amounts payable | 47/48 | €868 | €868 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €255 | €255 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,724 | €1,370 | -€4,353 | -76.1% |
| Other operating charges | 640/8 | €376 | €379 | +€4 | +1.0% |
| Gross operating margin | 9900 | €436 | -€16,064 | -€16,500 | |
| Operating profit (loss) | 9901 | -€5,919 | -€18,069 | -€12,150 | -205% |
| Financial income | 75/76B | €305 | - | -€305 | |
| Recurring financial income | 75 | €305 | - | -€305 | |
| Financial charges | 65/66B | €232 | €211 | -€21 | -9.1% |
| Recurring financial charges | 65 | €232 | €211 | -€21 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,846 | -€18,280 | -€12,434 | -213% |
| Profit (loss) for the period | 9904 | -€5,846 | -€18,280 | -€12,434 | -213% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,846 | -€18,280 | -€12,434 | -213% |
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 27 October 2026 via checked.be.