MEET MARCEL: what changed
What changed
MEET MARCEL
NACE 74.991, Agents and managers of artists, athletes and other public figures
filed annual accounts (NBB)
Net result for the year
-€162,100
2024 · €286,498-€448,598
Equity
€185,410
2024 · €347,510-€162,100
Cash
€869,149
2024 · €516,860+€352,289
Balance sheet total
€2.1m
2024 · €2.1m-€14,731
Largest movements
Assets
- Cash +€352,289
up €352,289 (+68.2%), from €516,860 to €869,149
mainly Stocks and contracts (+€203,899) and Receivables within one year (+€150,920)
- Stocks and contracts -€203,899
down €203,899 (-72.4%), from €281,606 to €77,707
- Receivables within one year -€150,920
down €150,920 (-12.5%), from €1.2m to €1.1m
of which Trade receivables: -€129,398
Equity and liabilities
- Reserves -€162,100
down €162,100 (-55.9%), from €289,818 to €127,718
- Other debts +€94,668
up €94,668 (+33.0%), from €286,541 to €381,208
- Trade debts +€65,050
up €65,050 (+5.0%), from €1.3m to €1.4m
- Tax, wage and social debts -€45,793
down €45,793 (-29.5%), from €155,186 to €109,393
of which Remuneration and social security: -€43,875
- Short-term financial debts +€39,136
up €39,136 (+353%), from €11,090 to €50,226
Income statement
- Gross operating margin -€572,857
down €572,857 (-51.7%), from €1.1m to €535,508
- Taxes -€87,173
down €87,173 (-97.9%), from €89,030 to €1,857
- Staff costs -€23,678
down €23,678 (-3.5%), from €673,576 to €649,898
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€286,498
Gross operating margin
-€572,857
Staff costs
+€23,678
Depreciation
-€961
Other operating charges
+€931
Other operating items
+€10,392
Financial income
+€993
Financial charges
+€2,053
Taxes
+€87,173
Result 2025
-€162,100
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€346,428
Investment
-€27,583
Financing
+€33,444
Cash 2024
€516,860
From operations (derived)
+€346,428
Net result for the year
-€162,100
Depreciation
+€43,830
Stocks and contracts
+€203,899
Receivables within one year
+€150,920
Deferred charges and accrued income
-€4,045
Trade debts
+€65,050
Tax, wage and social debts
-€45,793
Other debts
+€94,668
Investment (derived)
-€27,583
Investment in fixed assets (net)
-€27,583
Financing
+€33,444
Debts after one year
-€2,902
Current portion of long-term debt
-€2,791
Short-term financial debts
+€39,136
Cash 2025
€869,149
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,110,839 | €2,096,108 | -€14,731 | -0.7% |
| Fixed assets | 21/28 | €101,721 | €85,474 | -€16,247 | -16.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €101,721 | €85,474 | -€16,247 | -16.0% |
| Plant, machinery and equipment | 23 | €9,929 | €8,663 | -€1,266 | -12.8% |
| Furniture and vehicles | 24 | €34,984 | €26,860 | -€8,124 | -23.2% |
| Other tangible fixed assets | 26 | €56,808 | €49,951 | -€6,857 | -12.1% |
| Current assets | 29/58 | €2,009,118 | €2,010,633 | +€1,516 | +0.1% |
| Stocks and contracts in progress | 3 | €281,606 | €77,707 | -€203,899 | -72.4% |
| Contracts in progress | 37 | €281,606 | €77,707 | -€203,899 | -72.4% |
| Amounts receivable within one year | 40/41 | €1,208,310 | €1,057,390 | -€150,920 | -12.5% |
| Trade receivables | 40 | €1,140,288 | €1,010,890 | -€129,398 | -11.3% |
| Other amounts receivable | 41 | €68,021 | €46,500 | -€21,521 | -31.6% |
| Cash at bank and in hand | 54/58 | €516,860 | €869,149 | +€352,289 | +68.2% |
| Deferred charges and accrued income | 490/1 | €2,342 | €6,387 | +€4,045 | +173% |
| Total equity and liabilities | 10/49 | €2,110,839 | €2,096,108 | -€14,731 | -0.7% |
| Equity | 10/15 | €347,510 | €185,410 | -€162,100 | -46.6% |
| Contributions | 10/11 | €57,693 | €57,693 | = | 0.0% |
| Reserves | 13 | €289,818 | €127,718 | -€162,100 | -55.9% |
| Distributable reserves | 133 | €289,818 | €127,718 | -€162,100 | -55.9% |
| Amounts payable | 17/49 | €1,763,329 | €1,910,697 | +€147,369 | +8.4% |
| Amounts payable after more than one year | 17 | €2,902 | - | -€2,902 | |
| Financial debts | 170/4 | €2,902 | - | -€2,902 | |
| Amounts payable within one year | 42/48 | €1,760,427 | €1,910,697 | +€150,270 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €5,692 | €2,902 | -€2,791 | -49.0% |
| Financial debts | 43 | €11,090 | €50,226 | +€39,136 | +353% |
| Credit institutions | 430/8 | €11,090 | €50,226 | +€39,136 | +353% |
| Trade debts | 44 | €1,301,919 | €1,366,969 | +€65,050 | +5.0% |
| Suppliers | 440/4 | €1,301,919 | €1,366,969 | +€65,050 | +5.0% |
| Taxes, remuneration and social security | 45 | €155,186 | €109,393 | -€45,793 | -29.5% |
| Taxes | 450/3 | €18,952 | €17,035 | -€1,918 | -10.1% |
| Remuneration and social security | 454/9 | €136,233 | €92,359 | -€43,875 | -32.2% |
| Other amounts payable | 47/48 | €286,541 | €381,208 | +€94,668 | +33.0% |
| Non-recurring operating income | 76A | €29,798 | - | -€29,798 | |
| Remuneration, social security and pensions | 62 | €673,576 | €649,898 | -€23,678 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,869 | €43,830 | +€961 | +2.2% |
| Other operating charges | 640/8 | €2,377 | €1,446 | -€931 | -39.2% |
| Non-recurring operating charges | 66A | €10,392 | - | -€10,392 | |
| Gross operating margin | 9900 | €1,108,365 | €535,508 | -€572,857 | -51.7% |
| Operating profit (loss) | 9901 | €379,150 | -€159,666 | -€538,817 | |
| Financial income | 75/76B | €730 | €1,723 | +€993 | +136% |
| Recurring financial income | 75 | €730 | €1,723 | +€993 | +136% |
| Financial charges | 65/66B | €4,352 | €2,299 | -€2,053 | -47.2% |
| Recurring financial charges | 65 | €4,352 | €2,299 | -€2,053 | -47.2% |
| Profit (loss) for the period before taxes | 9903 | €375,528 | -€160,243 | -€535,771 | |
| Income taxes | 67/77 | €89,030 | €1,857 | -€87,173 | -97.9% |
| Profit (loss) for the period | 9904 | €286,498 | -€162,100 | -€448,598 | |
| Transfer from tax-exempt reserves | 789 | €42 | - | -€42 | |
| Profit (loss) for the period to be appropriated | 9905 | €286,541 | -€162,100 | -€448,641 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.