SPRL MARBAIX MICHAEL: what changed
What changed
SPRL MARBAIX MICHAEL
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
€107,320
2024 · €89,996+€17,325
Equity
€233,310
2024 · €190,990+€42,320
Cash
€416,599
2024 · €230,629+€185,970
Balance sheet total
€1.2m
2024 · €941,202+€227,393
Largest movements
Assets
- Cash +€185,970
up €185,970 (+80.6%), from €230,629 to €416,599
mainly Depreciation (+€203,837) and Net result for the year (+€107,320)
- Tangible fixed assets +€139,930
up €139,930 (+26.5%), from €527,847 to €667,777
of which Furniture and vehicles: +€137,632
- Receivables within one year -€89,779
down €89,779 (-61.1%), from €147,057 to €57,278
of which Other amounts receivable: -€78,547
Equity and liabilities
- Debts after one year +€100,921
up €100,921 (+30.9%), from €326,205 to €427,126
- Trade debts +€93,486
up €93,486 (+262%), from €35,649 to €129,135
- Profit (loss) carried forward +€55,228
up €55,228 (+47.2%), from €117,006 to €172,233
- Tax, wage and social debts -€12,999
down €12,999 (-21.1%), from €61,481 to €48,482
of which Taxes: -€14,531
- Reserves -€12,907
down €12,907 (-23.3%), from €55,384 to €42,477
Income statement
- Gross operating margin +€104,346
up €104,346 (+16.0%), from €651,075 to €755,421
- Depreciation +€45,568
up €45,568 (+28.8%), from €158,269 to €203,837
- Staff costs +€30,661
up €30,661 (+8.5%), from €361,538 to €392,199
- Taxes +€23,467
up €23,467 (+479%), from €4,902 to €28,369
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
€89,996
Gross operating margin
+€104,346
Staff costs
-€30,661
Depreciation
-€45,568
Other operating charges
+€1,922
Financial income
-€1,550
Financial charges
-€4,770
Taxes
-€23,467
Deferred taxes and other
+€17,073
Result 2025
€107,320
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
+€491,602
Investment
-€343,767
Financing
+€38,136
Cash 2024
€230,629
From operations (derived)
+€491,602
Net result for the year
+€107,320
Depreciation
+€203,837
Receivables within one year
+€89,779
Deferred charges and accrued income
+€8,727
Provisions
-€3,227
Trade debts
+€93,486
Tax, wage and social debts
-€12,999
Other debts
+€4,677
Investment (derived)
-€343,767
Investment in fixed assets (net)
-€343,767
Financing
+€38,136
Debts after one year
+€100,921
Current portion of long-term debt
+€2,215
Contributions, distributions and other
-€65,000
Cash 2025
€416,599
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €941,202 | €1,168,596 | +€227,393 | +24.2% |
| Fixed assets | 21/28 | €527,982 | €667,912 | +€139,930 | +26.5% |
| Tangible fixed assets | 22/27 | €527,847 | €667,777 | +€139,930 | +26.5% |
| Land and buildings | 22 | €26,885 | €20,242 | -€6,643 | -24.7% |
| Plant, machinery and equipment | 23 | €248,787 | €257,728 | +€8,940 | +3.6% |
| Furniture and vehicles | 24 | €252,175 | €389,807 | +€137,632 | +54.6% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €413,220 | €500,684 | +€87,464 | +21.2% |
| Amounts receivable within one year | 40/41 | €147,057 | €57,278 | -€89,779 | -61.1% |
| Trade receivables | 40 | €39,688 | €28,455 | -€11,233 | -28.3% |
| Other amounts receivable | 41 | €107,369 | €28,823 | -€78,547 | -73.2% |
| Cash at bank and in hand | 54/58 | €230,629 | €416,599 | +€185,970 | +80.6% |
| Deferred charges and accrued income | 490/1 | €35,534 | €26,807 | -€8,727 | -24.6% |
| Total equity and liabilities | 10/49 | €941,202 | €1,168,596 | +€227,393 | +24.2% |
| Equity | 10/15 | €190,990 | €233,310 | +€42,320 | +22.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €55,384 | €42,477 | -€12,907 | -23.3% |
| Tax-exempt reserves | 132 | €55,384 | €42,477 | -€12,907 | -23.3% |
| Profit (loss) carried forward | 14 | €117,006 | €172,233 | +€55,228 | +47.2% |
| Provisions and deferred taxes | 16 | €13,846 | €10,619 | -€3,227 | -23.3% |
| Deferred taxes | 168 | €13,846 | €10,619 | -€3,227 | -23.3% |
| Amounts payable | 17/49 | €736,367 | €924,667 | +€188,300 | +25.6% |
| Amounts payable after more than one year | 17 | €326,205 | €427,126 | +€100,921 | +30.9% |
| Financial debts | 170/4 | €326,205 | €427,126 | +€100,921 | +30.9% |
| Amounts payable within one year | 42/48 | €410,162 | €497,541 | +€87,379 | +21.3% |
| Current portion of amounts payable after more than one year | 42 | €172,781 | €174,996 | +€2,215 | +1.3% |
| Trade debts | 44 | €35,649 | €129,135 | +€93,486 | +262% |
| Suppliers | 440/4 | €35,649 | €129,135 | +€93,486 | +262% |
| Taxes, remuneration and social security | 45 | €61,481 | €48,482 | -€12,999 | -21.1% |
| Taxes | 450/3 | €24,750 | €10,219 | -€14,531 | -58.7% |
| Remuneration and social security | 454/9 | €36,731 | €38,264 | +€1,532 | +4.2% |
| Other amounts payable | 47/48 | €140,250 | €144,927 | +€4,677 | +3.3% |
| Remuneration, social security and pensions | 62 | €361,538 | €392,199 | +€30,661 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €158,269 | €203,837 | +€45,568 | +28.8% |
| Other operating charges | 640/8 | €12,218 | €10,296 | -€1,922 | -15.7% |
| Gross operating margin | 9900 | €651,075 | €755,421 | +€104,346 | +16.0% |
| Operating profit (loss) | 9901 | €119,050 | €149,089 | +€30,039 | +25.2% |
| Financial income | 75/76B | €2,803 | €1,253 | -€1,550 | -55.3% |
| Recurring financial income | 75 | €2,802 | €1,253 | -€1,550 | -55.3% |
| Non-recurring financial income | 76B | €0 | - | -€0 | |
| Financial charges | 65/66B | €13,109 | €17,879 | +€4,770 | +36.4% |
| Recurring financial charges | 65 | €13,109 | €17,879 | +€4,770 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | €108,744 | €132,462 | +€23,718 | +21.8% |
| Transfer from deferred taxes | 780 | €2,288 | €3,227 | +€939 | +41.0% |
| Transfer to deferred taxes | 680 | €16,134 | - | -€16,134 | |
| Income taxes | 67/77 | €4,902 | €28,369 | +€23,467 | +479% |
| Profit (loss) for the period | 9904 | €89,996 | €107,320 | +€17,325 | +19.3% |
| Transfer from tax-exempt reserves | 789 | €9,153 | €12,907 | +€3,754 | +41.0% |
| Transfer to tax-exempt reserves | 689 | €64,537 | - | -€64,537 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,612 | €120,228 | +€85,616 | +247% |
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.