Thomas Marcos: what changed
Thomas Marcos
Largest movements
- Receivables within one year +€3,692
up €3,692 (+47.7%), from €7,737 to €11,429
of which Trade receivables: +€6,024
- Tangible fixed assets -€3,631
down €3,631 (-37.9%), from €9,591 to €5,960
- Cash +€3,519
up €3,519 (+20.5%), from €17,139 to €20,658
mainly Other debts (+€18,865) and Net result for the year (+€3,900)
- Other debts +€18,865
up €18,865 (+452%), from €4,172 to €23,037
- Profit (loss) carried forward -€17,030
down €17,030 (-81.4%), from €20,931 to €3,900
- Tax, wage and social debts +€2,325
up €2,325 (+38.5%), from €6,040 to €8,365
- Current portion of long-term debt -€1,308
no longer reported in 2025 (was €1,308)
- Trade debts +€728
up €728 (+175%), from €417 to €1,145
- Gross operating margin -€1,352
down €1,352 (-11.2%), from €12,121 to €10,769
- Depreciation +€329
up €329 (+10.0%), from €3,302 to €3,631
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €34,867 | €38,448 | +€3,580 | +10.3% |
| Fixed assets | 21/28 | €9,991 | €6,360 | -€3,631 | -36.3% |
| Tangible fixed assets | 22/27 | €9,591 | €5,960 | -€3,631 | -37.9% |
| Furniture and vehicles | 24 | €9,591 | €5,960 | -€3,631 | -37.9% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €24,876 | €32,087 | +€7,211 | +29.0% |
| Amounts receivable within one year | 40/41 | €7,737 | €11,429 | +€3,692 | +47.7% |
| Trade receivables | 40 | €4,737 | €10,761 | +€6,024 | +127% |
| Other amounts receivable | 41 | €3,000 | €668 | -€2,332 | -77.7% |
| Cash at bank and in hand | 54/58 | €17,139 | €20,658 | +€3,519 | +20.5% |
| Total equity and liabilities | 10/49 | €34,867 | €38,448 | +€3,580 | +10.3% |
| Equity | 10/15 | €22,931 | €5,900 | -€17,030 | -74.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,931 | €3,900 | -€17,030 | -81.4% |
| Amounts payable | 17/49 | €11,937 | €32,547 | +€20,610 | +173% |
| Amounts payable within one year | 42/48 | €11,937 | €32,547 | +€20,610 | +173% |
| Current portion of amounts payable after more than one year | 42 | €1,308 | - | -€1,308 | |
| Trade debts | 44 | €417 | €1,145 | +€728 | +175% |
| Suppliers | 440/4 | €417 | €1,145 | +€728 | +175% |
| Taxes, remuneration and social security | 45 | €6,040 | €8,365 | +€2,325 | +38.5% |
| Taxes | 450/3 | €6,040 | €8,365 | +€2,325 | +38.5% |
| Other amounts payable | 47/48 | €4,172 | €23,037 | +€18,865 | +452% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,302 | €3,631 | +€329 | +10.0% |
| Other operating charges | 640/8 | €609 | €702 | +€93 | +15.2% |
| Gross operating margin | 9900 | €12,121 | €10,769 | -€1,352 | -11.2% |
| Operating profit (loss) | 9901 | €8,210 | €6,436 | -€1,774 | -21.6% |
| Financial income | 75/76B | €4 | €15 | +€11 | +296% |
| Recurring financial income | 75 | €4 | €15 | +€11 | +296% |
| Financial charges | 65/66B | €332 | €304 | -€28 | -8.4% |
| Recurring financial charges | 65 | €332 | €304 | -€28 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €7,882 | €6,147 | -€1,735 | -22.0% |
| Income taxes | 67/77 | €2,332 | €2,247 | -€86 | -3.7% |
| Profit (loss) for the period | 9904 | €5,550 | €3,900 | -€1,649 | -29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,550 | €3,900 | -€1,649 | -29.7% |
Next steps
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 7 November 2026 via checked.be.