MARECHAL - AGRI: 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.
MARECHAL - AGRI
Largest movements
- Tangible fixed assets +€55,378
up €55,378 (+70.9%), from €78,065 to €133,443
of which Plant, machinery and equipment: +€55,399
- Receivables within one year -€44,823
down €44,823 (-70.2%), from €63,887 to €19,064
of which Trade receivables: -€43,978
- Stocks and contracts +€12,200
new in 2025: €12,200
- Debts after one year +€38,297
up €38,297 (+118%), from €32,525 to €70,822
- Current portion of long-term debt -€9,181
down €9,181 (-30.6%), from €29,987 to €20,806
- Profit (loss) carried forward -€9,033
new in 2025: -€9,033
- Other debts +€8,885
up €8,885 (+25.2%), from €35,315 to €44,199
- Reserves -€7,231
down €7,231 (-11.4%), from €63,525 to €56,294
of which Tax-exempt reserves: -€7,231
- Gross operating margin -€24,450
down €24,450 (-61.1%), from €40,021 to €15,571
- Depreciation -€6,555
down €6,555 (-17.3%), from €37,933 to €31,378
- Taxes -€4,363
down €4,363 (-98.9%), from €4,412 to €49
- Financial income -€581
down €581 (-78.0%), from €744 to €164
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 | €192,777 | €216,417 | +€23,640 | +12.3% |
| Fixed assets | 21/28 | €79,315 | €134,693 | +€55,378 | +69.8% |
| Tangible fixed assets | 22/27 | €78,065 | €133,443 | +€55,378 | +70.9% |
| Plant, machinery and equipment | 23 | €78,044 | €133,443 | +€55,399 | +71.0% |
| Furniture and vehicles | 24 | €20 | - | -€20 | |
| Financial fixed assets | 28 | €1,250 | €1,250 | = | 0.0% |
| Current assets | 29/58 | €113,462 | €81,724 | -€31,739 | -28.0% |
| Stocks and contracts in progress | 3 | - | €12,200 | +€12,200 | |
| Stocks | 30/36 | - | €12,200 | +€12,200 | |
| Amounts receivable within one year | 40/41 | €63,887 | €19,064 | -€44,823 | -70.2% |
| Trade receivables | 40 | €63,042 | €19,064 | -€43,978 | -69.8% |
| Other amounts receivable | 41 | €844 | - | -€844 | |
| Cash at bank and in hand | 54/58 | €47,462 | €48,711 | +€1,249 | +2.6% |
| Deferred charges and accrued income | 490/1 | €2,114 | €1,749 | -€365 | -17.3% |
| Total equity and liabilities | 10/49 | €192,777 | €216,417 | +€23,640 | +12.3% |
| Equity | 10/15 | €75,525 | €59,261 | -€16,264 | -21.5% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €63,525 | €56,294 | -€7,231 | -11.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €24,210 | €16,980 | -€7,231 | -29.9% |
| Distributable reserves | 133 | €37,455 | €37,455 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€9,033 | -€9,033 | |
| Provisions and deferred taxes | 16 | €8,070 | €5,660 | -€2,410 | -29.9% |
| Deferred taxes | 168 | €8,070 | €5,660 | -€2,410 | -29.9% |
| Amounts payable | 17/49 | €109,182 | €151,496 | +€42,314 | +38.8% |
| Amounts payable after more than one year | 17 | €32,525 | €70,822 | +€38,297 | +118% |
| Financial debts | 170/4 | €32,525 | €70,822 | +€38,297 | +118% |
| Amounts payable within one year | 42/48 | €76,657 | €80,674 | +€4,017 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €29,987 | €20,806 | -€9,181 | -30.6% |
| Trade debts | 44 | €7,006 | €7,844 | +€839 | +12.0% |
| Suppliers | 440/4 | €7,006 | €7,844 | +€839 | +12.0% |
| Taxes, remuneration and social security | 45 | €4,350 | €7,825 | +€3,475 | +79.9% |
| Taxes | 450/3 | €4,350 | €7,825 | +€3,475 | +79.9% |
| Other amounts payable | 47/48 | €35,315 | €44,199 | +€8,885 | +25.2% |
| Non-recurring operating income | 76A | €2,000 | - | -€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,933 | €31,378 | -€6,555 | -17.3% |
| Other operating charges | 640/8 | €515 | €527 | +€12 | +2.4% |
| Gross operating margin | 9900 | €40,021 | €15,571 | -€24,450 | -61.1% |
| Operating profit (loss) | 9901 | €1,573 | -€16,334 | -€17,907 | |
| Financial income | 75/76B | €744 | €164 | -€581 | -78.0% |
| Recurring financial income | 75 | €744 | €164 | -€581 | -78.0% |
| Financial charges | 65/66B | €2,087 | €2,455 | +€368 | +17.6% |
| Recurring financial charges | 65 | €2,087 | €2,455 | +€368 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €231 | -€18,625 | -€18,856 | |
| Transfer from deferred taxes | 780 | €3,527 | €2,410 | -€1,116 | -31.7% |
| Income taxes | 67/77 | €4,412 | €49 | -€4,363 | -98.9% |
| Profit (loss) for the period | 9904 | -€655 | -€16,264 | -€15,609 | -2,383% |
| Transfer from tax-exempt reserves | 789 | €9,964 | €7,231 | -€2,733 | -27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,309 | -€9,033 | -€18,342 |
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 22 October 2026 via checked.be.