MARSOUL CONSULT: 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.
MARSOUL CONSULT
Largest movements
- Receivables within one year -€264,310
down €264,310 (-76.4%), from €346,127 to €81,817
of which Trade receivables: -€251,743
- Receivables after one year +€193,110
up €193,110 (+6.7%), from €2.9m to €3.1m
- Tangible fixed assets +€57,321
up €57,321 (+65.4%), from €87,675 to €144,996
of which Other tangible fixed assets: +€66,202
- Reserves +€239,392
up €239,392 (+7.6%), from €3.2m to €3.4m
of which Distributable reserves: +€239,392
- Other debts -€209,500
down €209,500 (-97.9%), from €214,001 to €4,501
- Gross operating margin -€362,354
down €362,354 (-53.7%), from €674,997 to €312,644
- Taxes -€117,208
down €117,208 (-51.8%), from €226,433 to €109,226
- Depreciation +€11,588
up €11,588 (+55.5%), from €20,883 to €32,471
- Financial income +€8,539
up €8,539 (+10.5%), from €81,671 to €90,211
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 | €3,719,299 | €3,736,680 | +€17,381 | +0.5% |
| Fixed assets | 21/28 | €87,675 | €144,996 | +€57,321 | +65.4% |
| Tangible fixed assets | 22/27 | €87,675 | €144,996 | +€57,321 | +65.4% |
| Plant, machinery and equipment | 23 | €2,109 | €1,356 | -€753 | -35.7% |
| Furniture and vehicles | 24 | €59,218 | €51,090 | -€8,128 | -13.7% |
| Other tangible fixed assets | 26 | €26,348 | €92,550 | +€66,202 | +251% |
| Current assets | 29/58 | €3,631,624 | €3,591,684 | -€39,940 | -1.1% |
| Amounts receivable after more than one year | 29 | €2,864,269 | €3,057,379 | +€193,110 | +6.7% |
| Other amounts receivable | 291 | €2,864,269 | €3,057,379 | +€193,110 | +6.7% |
| Amounts receivable within one year | 40/41 | €346,127 | €81,817 | -€264,310 | -76.4% |
| Trade receivables | 40 | €278,560 | €26,817 | -€251,743 | -90.4% |
| Other amounts receivable | 41 | €67,567 | €55,000 | -€12,567 | -18.6% |
| Cash at bank and in hand | 54/58 | €384,822 | €411,726 | +€26,904 | +7.0% |
| Deferred charges and accrued income | 490/1 | €36,405 | €40,762 | +€4,357 | +12.0% |
| Total equity and liabilities | 10/49 | €3,719,299 | €3,736,680 | +€17,381 | +0.5% |
| Equity | 10/15 | €3,401,459 | €3,640,851 | +€239,392 | +7.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €3,167,773 | €3,407,166 | +€239,392 | +7.6% |
| 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 | €3,165,918 | €3,405,311 | +€239,392 | +7.6% |
| Profit (loss) carried forward | 14 | €215,135 | €215,135 | = | 0.0% |
| Amounts payable | 17/49 | €317,840 | €95,829 | -€222,011 | -69.8% |
| Amounts payable within one year | 42/48 | €285,077 | €61,644 | -€223,433 | -78.4% |
| Trade debts | 44 | €63,990 | €37,408 | -€26,582 | -41.5% |
| Suppliers | 440/4 | €63,990 | €37,408 | -€26,582 | -41.5% |
| Taxes, remuneration and social security | 45 | €7,087 | €19,735 | +€12,649 | +178% |
| Taxes | 450/3 | €7,087 | €19,735 | +€12,649 | +178% |
| Other amounts payable | 47/48 | €214,001 | €4,501 | -€209,500 | -97.9% |
| Accrued charges and deferred income | 492/3 | €32,763 | €34,185 | +€1,422 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,883 | €32,471 | +€11,588 | +55.5% |
| Other operating charges | 640/8 | €14,712 | €21,258 | +€6,547 | +44.5% |
| Gross operating margin | 9900 | €674,997 | €312,644 | -€362,354 | -53.7% |
| Operating profit (loss) | 9901 | €639,402 | €258,915 | -€380,488 | -59.5% |
| Financial income | 75/76B | €81,671 | €90,211 | +€8,539 | +10.5% |
| Recurring financial income | 75 | €81,671 | €90,211 | +€8,539 | +10.5% |
| Financial charges | 65/66B | €146 | €508 | +€362 | +249% |
| Recurring financial charges | 65 | €146 | €508 | +€362 | +249% |
| Profit (loss) for the period before taxes | 9903 | €720,928 | €348,618 | -€372,311 | -51.6% |
| Income taxes | 67/77 | €226,433 | €109,226 | -€117,208 | -51.8% |
| Profit (loss) for the period | 9904 | €494,495 | €239,392 | -€255,103 | -51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €494,495 | €239,392 | -€255,103 | -51.6% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.