WOUTER MARX: what changed
Two fiscal 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.
WOUTER MARX
Largest movements
- Receivables within one year +€13,405
up €13,405 (+162.5%), from €8,247 to €21,651
of which Trade receivables: +€9,271
- Cash -€9,982
down €9,982 (-88.0%), from €11,345 to €1,363
mainly Receivables within one year (-€13,405) and Trade debts (-€10,422)
- Tangible fixed assets -€6,693
down €6,693 (-26.4%), from €25,312 to €18,619
of which Furniture and vehicles: -€6,020
- Trade debts -€10,422
down €10,422 (-77.6%), from €13,437 to €3,015
- Current portion of long-term debt -€7,017
down €7,017 (-100.0%), from €7,017 to €0
- Tax, wage and social debts +€3,893
up €3,893 (+239.5%), from €1,626 to €5,519
- Other debts +€3,233
up €3,233 (+49.4%), from €6,540 to €9,774
- Reserves +€2,699
up €2,699 (+263.6%), from €1,024 to €3,724
- Gross operating margin +€6,068
up €6,068 (+52.1%), from €11,638 to €17,706
- Taxes +€2,652
up €2,652 (+791.3%), from €335 to €2,987
- Other operating charges +€1,033
up €1,033 (+220.2%), from €469 to €1,502
- Financial charges -€785
down €785 (-36.0%), from €2,181 to €1,396
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.
Cash bridge derived
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 | €45,766 | €42,663 | -€3,103 | -6.8% |
| Fixed assets | 21/28 | €25,312 | €18,619 | -€6,693 | -26.4% |
| Tangible fixed assets | 22/27 | €25,312 | €18,619 | -€6,693 | -26.4% |
| Land and buildings | 22 | €7,930 | €7,930 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,125 | €1,452 | -€673 | -31.7% |
| Furniture and vehicles | 24 | €15,257 | €9,237 | -€6,020 | -39.5% |
| Current assets | 29/58 | €20,453 | €24,044 | +€3,590 | +17.6% |
| Amounts receivable within one year | 40/41 | €8,247 | €21,651 | +€13,405 | +162.5% |
| Trade receivables | 40 | €7,635 | €16,906 | +€9,271 | +121.4% |
| Other amounts receivable | 41 | €612 | €4,745 | +€4,134 | +676.0% |
| Cash at bank and in hand | 54/58 | €11,345 | €1,363 | -€9,982 | -88.0% |
| Deferred charges and accrued income | 490/1 | €862 | €1,030 | +€168 | +19.5% |
| Total equity and liabilities | 10/49 | €45,766 | €42,663 | -€3,103 | -6.8% |
| Equity | 10/15 | €17,146 | €22,274 | +€5,128 | +29.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,024 | €3,724 | +€2,699 | +263.6% |
| Distributable reserves | 133 | €1,024 | €3,724 | +€2,699 | +263.6% |
| Profit (loss) carried forward | 14 | -€2,429 | €0 | +€2,429 | |
| Amounts payable | 17/49 | €28,620 | €20,389 | -€8,231 | -28.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €28,620 | €20,389 | -€8,231 | -28.8% |
| Current portion of amounts payable after more than one year | 42 | €7,017 | €0 | -€7,017 | -100.0% |
| Financial debts | 43 | - | €2,082 | +€2,082 | |
| Credit institutions | 430/8 | - | €2,082 | +€2,082 | |
| Trade debts | 44 | €13,437 | €3,015 | -€10,422 | -77.6% |
| Suppliers | 440/4 | €13,437 | €3,015 | -€10,422 | -77.6% |
| Taxes, remuneration and social security | 45 | €1,626 | €5,519 | +€3,893 | +239.5% |
| Taxes | 450/3 | €1,626 | €5,519 | +€3,893 | +239.5% |
| Other amounts payable | 47/48 | €6,540 | €9,774 | +€3,233 | +49.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,608 | €6,693 | +€86 | +1.3% |
| Other operating charges | 640/8 | €469 | €1,502 | +€1,033 | +220.2% |
| Gross operating margin | 9900 | €11,638 | €17,706 | +€6,068 | +52.1% |
| Operating profit (loss) | 9901 | €4,561 | €9,511 | +€4,949 | +108.5% |
| Financial income | 75/76B | €19 | €0 | -€19 | -100.0% |
| Recurring financial income | 75 | €19 | €0 | -€19 | -100.0% |
| Financial charges | 65/66B | €2,181 | €1,396 | -€785 | -36.0% |
| Recurring financial charges | 65 | €2,181 | €1,396 | -€785 | -36.0% |
| Profit (loss) for the period before taxes | 9903 | €2,399 | €8,115 | +€5,716 | +238.3% |
| Income taxes | 67/77 | €335 | €2,987 | +€2,652 | +791.3% |
| Profit (loss) for the period | 9904 | €2,063 | €5,128 | +€3,065 | +148.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,063 | €5,128 | +€3,065 | +148.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.