GUY MARECHAL: 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.
GUY MARECHAL
Largest movements
- Receivables within one year +€281,766
up €281,766 (+39.9%), from €705,852 to €987,618
of which Other amounts receivable: +€307,212
- Tangible fixed assets -€33,780
down €33,780 (-53.7%), from €62,953 to €29,172
of which Furniture and vehicles: -€32,469
- Financial fixed assets -€31,793
down €31,793 (-99.7%), from €31,879 to €86
- Cash -€30,640
down €30,640 (-23.8%), from €128,689 to €98,049
mainly Receivables within one year (-€281,766)
- Reserves +€120,293
up €120,293 (+15.4%), from €781,217 to €901,510
of which Distributable reserves: +€120,293
- Tax, wage and social debts +€31,556
up €31,556 (+36.7%), from €86,050 to €117,606
of which Taxes: +€37,713
- Trade debts +€27,446
up €27,446 (+101%), from €27,077 to €54,523
of which Bills of exchange payable: +€25,886
- Turnover +€35,410
up €35,410 (+5.6%), from €632,618 to €668,028
- Depreciation +€27,308
up €27,308 (+129%), from €21,197 to €48,505
- Gross operating margin +€23,630
up €23,630 (+6.5%), from €361,535 to €385,165
- Taxes -€19,356
down €19,356 (-22.6%), from €85,671 to €66,315
- Purchases and services +€7,858
up €7,858 (+2.9%), from €275,005 to €282,863
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €932,862 | €1,116,220 | +€183,358 | +19.7% |
| Fixed assets | 21/28 | €94,832 | €29,258 | -€65,574 | -69.1% |
| Tangible fixed assets | 22/27 | €62,953 | €29,172 | -€33,780 | -53.7% |
| Plant, machinery and equipment | 23 | €6,042 | €4,731 | -€1,311 | -21.7% |
| Furniture and vehicles | 24 | €56,911 | €24,441 | -€32,469 | -57.1% |
| Financial fixed assets | 28 | €31,879 | €86 | -€31,793 | -99.7% |
| Current assets | 29/58 | €838,030 | €1,086,962 | +€248,932 | +29.7% |
| Amounts receivable within one year | 40/41 | €705,852 | €987,618 | +€281,766 | +39.9% |
| Trade receivables | 40 | €25,446 | - | -€25,446 | |
| Other amounts receivable | 41 | €680,406 | €987,618 | +€307,212 | +45.2% |
| Cash at bank and in hand | 54/58 | €128,689 | €98,049 | -€30,640 | -23.8% |
| Deferred charges and accrued income | 490/1 | €3,489 | €1,295 | -€2,194 | -62.9% |
| Total equity and liabilities | 10/49 | €932,862 | €1,116,220 | +€183,358 | +19.7% |
| Equity | 10/15 | €799,809 | €920,102 | +€120,293 | +15.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €781,217 | €901,510 | +€120,293 | +15.4% |
| 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 | €779,358 | €899,651 | +€120,293 | +15.4% |
| Provisions and deferred taxes | 16 | €13,344 | €13,344 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €13,344 | €13,344 | = | 0.0% |
| Pensions and similar obligations | 160 | €13,344 | €13,344 | = | 0.0% |
| Amounts payable | 17/49 | €119,708 | €182,774 | +€63,066 | +52.7% |
| Amounts payable within one year | 42/48 | €118,667 | €181,733 | +€63,066 | +53.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | €0 | = | |
| Trade debts | 44 | €27,077 | €54,523 | +€27,446 | +101% |
| Suppliers | 440/4 | €27,077 | €28,637 | +€1,560 | +5.8% |
| Bills of exchange payable | 441 | - | €25,886 | +€25,886 | |
| Taxes, remuneration and social security | 45 | €86,050 | €117,606 | +€31,556 | +36.7% |
| Taxes | 450/3 | €55,711 | €93,424 | +€37,713 | +67.7% |
| Remuneration and social security | 454/9 | €30,339 | €24,182 | -€6,157 | -20.3% |
| Other amounts payable | 47/48 | €5,540 | €9,604 | +€4,063 | +73.3% |
| Accrued charges and deferred income | 492/3 | €1,041 | €1,041 | = | 0.0% |
| Turnover | 70 | €632,618 | €668,028 | +€35,410 | +5.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €275,005 | €282,863 | +€7,858 | +2.9% |
| Remuneration, social security and pensions | 62 | €148,184 | €144,524 | -€3,659 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,197 | €48,505 | +€27,308 | +129% |
| Other operating charges | 640/8 | €7,166 | €4,170 | -€2,996 | -41.8% |
| Gross operating margin | 9900 | €361,535 | €385,165 | +€23,630 | +6.5% |
| Operating profit (loss) | 9901 | €184,988 | €187,966 | +€2,977 | +1.6% |
| Financial income | 75/76B | €9 | €0 | -€9 | -99.6% |
| Recurring financial income | 75 | €9 | €0 | -€9 | -99.6% |
| Financial charges | 65/66B | €1,509 | €1,358 | -€151 | -10.0% |
| Recurring financial charges | 65 | €1,509 | €1,358 | -€151 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €183,488 | €186,608 | +€3,120 | +1.7% |
| Income taxes | 67/77 | €85,671 | €66,315 | -€19,356 | -22.6% |
| Profit (loss) for the period | 9904 | €97,817 | €120,293 | +€22,475 | +23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €97,817 | €120,293 | +€22,475 | +23.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.