XAVIER VAN MARCKE: 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.
XAVIER VAN MARCKE
Largest movements
- Cash +€61,844
up €61,844 (+75.2%), from €82,281 to €144,124
mainly Net result for the year (+€74,285) and Other debts (+€62,003)
- Tangible fixed assets -€8,468
down €8,468 (-8.1%), from €103,994 to €95,526
of which Land and buildings: -€4,261
- Receivables within one year -€4,117
down €4,117 (-4.1%), from €99,765 to €95,648
of which Trade receivables: -€4,179
- Other debts +€62,003
up €62,003 (+34.2%), from €181,453 to €243,456
- Debts after one year -€6,905
down €6,905 (-15.9%), from €43,494 to €36,589
- Trade debts -€3,690
down €3,690 (-14.4%), from €25,679 to €21,988
- Gross operating margin -€8,974
down €8,974 (-7.5%), from €119,292 to €110,318
- Taxes -€1,680
down €1,680 (-6.2%), from €27,146 to €25,467
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 | €286,039 | €335,684 | +€49,645 | +17.4% |
| Fixed assets | 21/28 | €103,994 | €95,526 | -€8,468 | -8.1% |
| Tangible fixed assets | 22/27 | €103,994 | €95,526 | -€8,468 | -8.1% |
| Land and buildings | 22 | €93,504 | €89,243 | -€4,261 | -4.6% |
| Plant, machinery and equipment | 23 | €6,431 | €4,161 | -€2,270 | -35.3% |
| Furniture and vehicles | 24 | €3,226 | €1,567 | -€1,659 | -51.4% |
| Other tangible fixed assets | 26 | €833 | €555 | -€278 | -33.3% |
| Current assets | 29/58 | €182,045 | €240,158 | +€58,112 | +31.9% |
| Amounts receivable within one year | 40/41 | €99,765 | €95,648 | -€4,117 | -4.1% |
| Trade receivables | 40 | €58,323 | €54,144 | -€4,179 | -7.2% |
| Other amounts receivable | 41 | €41,442 | €41,504 | +€62 | +0.1% |
| Cash at bank and in hand | 54/58 | €82,281 | €144,124 | +€61,844 | +75.2% |
| Deferred charges and accrued income | 490/1 | - | €386 | +€386 | |
| Total equity and liabilities | 10/49 | €286,039 | €335,684 | +€49,645 | +17.4% |
| Equity | 10/15 | €24,493 | €24,779 | +€285 | +1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,893 | €6,179 | +€285 | +4.8% |
| Distributable reserves | 133 | €5,893 | €6,179 | +€285 | +4.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €261,546 | €310,905 | +€49,359 | +18.9% |
| Amounts payable after more than one year | 17 | €43,494 | €36,589 | -€6,905 | -15.9% |
| Financial debts | 170/4 | €43,494 | €36,589 | -€6,905 | -15.9% |
| Amounts payable within one year | 42/48 | €218,052 | €274,316 | +€56,264 | +25.8% |
| Current portion of amounts payable after more than one year | 42 | €6,773 | €6,905 | +€132 | +1.9% |
| Trade debts | 44 | €25,679 | €21,988 | -€3,690 | -14.4% |
| Suppliers | 440/4 | €25,679 | €21,988 | -€3,690 | -14.4% |
| Taxes, remuneration and social security | 45 | €4,146 | €1,967 | -€2,180 | -52.6% |
| Taxes | 450/3 | €4,146 | €1,967 | -€2,180 | -52.6% |
| Other amounts payable | 47/48 | €181,453 | €243,456 | +€62,003 | +34.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,256 | €8,468 | -€789 | -8.5% |
| Other operating charges | 640/8 | €1,286 | €906 | -€380 | -29.6% |
| Gross operating margin | 9900 | €119,292 | €110,318 | -€8,974 | -7.5% |
| Operating profit (loss) | 9901 | €108,750 | €100,944 | -€7,805 | -7.2% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1,238 | €1,192 | -€46 | -3.7% |
| Recurring financial charges | 65 | €1,238 | €1,192 | -€46 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €107,511 | €99,752 | -€7,759 | -7.2% |
| Income taxes | 67/77 | €27,146 | €25,467 | -€1,680 | -6.2% |
| Profit (loss) for the period | 9904 | €80,365 | €74,285 | -€6,079 | -7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €80,365 | €74,285 | -€6,079 | -7.6% |
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 23 October 2026 via checked.be.