TROFEEEN MARCHAL: 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.
TROFEEEN MARCHAL
Largest movements
- Cash +€18,507
up €18,507 (+153%), from €12,095 to €30,602
mainly Net result for the year (+€12,921) and Stocks and contracts (+€12,334)
- Stocks and contracts -€12,334
down €12,334 (-32.8%), from €37,559 to €25,225
- Receivables within one year +€9,036
up €9,036 (+35.9%), from €25,176 to €34,212
of which Other amounts receivable: +€11,146
- Tangible fixed assets -€1,253
down €1,253 (-86.7%), from €1,446 to €193
of which Furniture and vehicles: -€1,061
- Reserves +€12,921
up €12,921 (+122%), from €10,568 to €23,489
of which Distributable reserves: +€12,921
- Tax, wage and social debts +€1,490
up €1,490 (+50.0%), from €2,980 to €4,470
- Gross operating margin +€2,841
up €2,841 (+17.0%), from €16,682 to €19,523
- Depreciation -€1,060
down €1,060 (-84.6%), from €1,253 to €193
- Financial income +€244
up €244 (+23.5%), from €1,037 to €1,281
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 | €76,326 | €90,232 | +€13,906 | +18.2% |
| Fixed assets | 21/28 | €1,496 | €193 | -€1,303 | -87.1% |
| Tangible fixed assets | 22/27 | €1,446 | €193 | -€1,253 | -86.7% |
| Plant, machinery and equipment | 23 | €385 | €193 | -€192 | -49.9% |
| Furniture and vehicles | 24 | €1,061 | - | -€1,061 | |
| Financial fixed assets | 28 | €50 | - | -€50 | |
| Current assets | 29/58 | €74,830 | €90,039 | +€15,209 | +20.3% |
| Stocks and contracts in progress | 3 | €37,559 | €25,225 | -€12,334 | -32.8% |
| Stocks | 30/36 | €37,559 | €25,225 | -€12,334 | -32.8% |
| Amounts receivable within one year | 40/41 | €25,176 | €34,212 | +€9,036 | +35.9% |
| Trade receivables | 40 | €7,775 | €5,665 | -€2,110 | -27.1% |
| Other amounts receivable | 41 | €17,401 | €28,547 | +€11,146 | +64.1% |
| Cash at bank and in hand | 54/58 | €12,095 | €30,602 | +€18,507 | +153% |
| Total equity and liabilities | 10/49 | €76,326 | €90,232 | +€13,906 | +18.2% |
| Equity | 10/15 | €70,831 | €82,919 | +€12,088 | +17.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €10,568 | €23,489 | +€12,921 | +122% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €8,709 | €21,630 | +€12,921 | +148% |
| Profit (loss) carried forward | 14 | €41,671 | €40,838 | -€833 | -2.0% |
| Amounts payable | 17/49 | €5,495 | €7,313 | +€1,818 | +33.1% |
| Amounts payable within one year | 42/48 | €5,495 | €7,313 | +€1,818 | +33.1% |
| Trade debts | 44 | €2,515 | €2,010 | -€505 | -20.1% |
| Suppliers | 440/4 | €2,515 | €2,010 | -€505 | -20.1% |
| Taxes, remuneration and social security | 45 | €2,980 | €4,470 | +€1,490 | +50.0% |
| Taxes | 450/3 | €2,980 | €4,470 | +€1,490 | +50.0% |
| Other amounts payable | 47/48 | - | €833 | +€833 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,253 | €193 | -€1,060 | -84.6% |
| Other operating charges | 640/8 | €460 | €501 | +€41 | +8.9% |
| Gross operating margin | 9900 | €16,682 | €19,523 | +€2,841 | +17.0% |
| Operating profit (loss) | 9901 | €14,969 | €18,829 | +€3,860 | +25.8% |
| Financial income | 75/76B | €1,037 | €1,281 | +€244 | +23.5% |
| Recurring financial income | 75 | €1,037 | €1,281 | +€244 | +23.5% |
| Financial charges | 65/66B | €1,698 | €1,643 | -€55 | -3.2% |
| Recurring financial charges | 65 | €1,698 | €1,643 | -€55 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €14,308 | €18,467 | +€4,159 | +29.1% |
| Income taxes | 67/77 | €5,599 | €5,546 | -€53 | -0.9% |
| Profit (loss) for the period | 9904 | €8,709 | €12,921 | +€4,212 | +48.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,709 | €12,921 | +€4,212 | +48.4% |
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.