MARCOM: what changed
What changed
MARCOM
NACE 47.222, Retail trade
filed annual accounts (NBB)
Net result for the year
€159,141
2025 · -€60,559+€219,701
Equity
€304,073
2025 · €353,950-€49,877
Cash
€217,454
2025 · €98,994+€118,459
Balance sheet total
€647,535
2025 · €492,766+€154,769
Largest movements
Assets
- Cash +€118,459
up €118,459 (+120%), from €98,994 to €217,454
mainly Other debts (+€209,018) and Net result for the year (+€159,141)
- Receivables within one year +€42,066
up €42,066 (+18.0%), from €233,516 to €275,582
of which Trade receivables: +€67,956
- Stocks and contracts -€12,258
down €12,258 (-38.3%), from €32,045 to €19,787
- Tangible fixed assets +€9,748
up €9,748 (+8.2%), from €119,124 to €128,872
of which Other tangible fixed assets: +€6,437
Equity and liabilities
- Other debts +€209,018
up €209,018, from €0 to €209,018
- Reserves -€49,877
down €49,877 (-14.3%), from €347,650 to €297,773
- Trade debts -€9,108
down €9,108 (-12.6%), from €72,057 to €62,949
Income statement
- Gross operating margin +€274,319
up €274,319 (+68.5%), from €400,307 to €674,626
- Taxes +€43,805
up €43,805, from -€105 to €43,700
- Depreciation +€9,473
up €9,473 (+38.8%), from €24,431 to €33,904
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
-€60,559
Gross operating margin
+€274,319
Staff costs
-€1,212
Depreciation
-€9,473
Other operating charges
-€177
Other operating items
+€1,302
Financial income
-€1,329
Financial charges
+€75
Taxes
-€43,805
Result 2026
€159,141
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€371,130
Investment
-€43,652
Financing
-€209,018
Cash 2025
€98,994
From operations (derived)
+€371,130
Net result for the year
+€159,141
Depreciation
+€33,904
Stocks and contracts
+€12,258
Receivables within one year
-€42,066
Deferred charges and accrued income
+€3,247
Trade debts
-€9,108
Tax, wage and social debts
+€4,174
Other debts
+€209,018
Accrued charges and deferred income
+€562
Investment (derived)
-€43,652
Investment in fixed assets (net)
-€43,652
Financing
-€209,018
Contributions, distributions and other
-€209,018
Cash 2026
€217,454
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €492,766 | €647,535 | +€154,769 | +31.4% |
| Fixed assets | 21/28 | €119,124 | €128,872 | +€9,748 | +8.2% |
| Tangible fixed assets | 22/27 | €119,124 | €128,872 | +€9,748 | +8.2% |
| Plant, machinery and equipment | 23 | €107,811 | €111,875 | +€4,064 | +3.8% |
| Furniture and vehicles | 24 | €1,832 | €1,079 | -€753 | -41.1% |
| Other tangible fixed assets | 26 | €9,481 | €15,918 | +€6,437 | +67.9% |
| Current assets | 29/58 | €373,642 | €518,663 | +€145,021 | +38.8% |
| Stocks and contracts in progress | 3 | €32,045 | €19,787 | -€12,258 | -38.3% |
| Stocks | 30/36 | €32,045 | €19,787 | -€12,258 | -38.3% |
| Amounts receivable within one year | 40/41 | €233,516 | €275,582 | +€42,066 | +18.0% |
| Trade receivables | 40 | €199,247 | €267,203 | +€67,956 | +34.1% |
| Other amounts receivable | 41 | €34,269 | €8,379 | -€25,890 | -75.5% |
| Cash at bank and in hand | 54/58 | €98,994 | €217,454 | +€118,459 | +120% |
| Deferred charges and accrued income | 490/1 | €9,087 | €5,840 | -€3,247 | -35.7% |
| Total equity and liabilities | 10/49 | €492,766 | €647,535 | +€154,769 | +31.4% |
| Equity | 10/15 | €353,950 | €304,073 | -€49,877 | -14.1% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €347,650 | €297,773 | -€49,877 | -14.3% |
| Distributable reserves | 133 | €347,650 | €297,773 | -€49,877 | -14.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €138,816 | €343,462 | +€204,646 | +147% |
| Amounts payable within one year | 42/48 | €138,617 | €342,700 | +€204,084 | +147% |
| Trade debts | 44 | €72,057 | €62,949 | -€9,108 | -12.6% |
| Suppliers | 440/4 | €72,057 | €62,949 | -€9,108 | -12.6% |
| Taxes, remuneration and social security | 45 | €66,559 | €70,733 | +€4,174 | +6.3% |
| Taxes | 450/3 | €2,778 | €9,558 | +€6,780 | +244% |
| Remuneration and social security | 454/9 | €63,781 | €61,175 | -€2,607 | -4.1% |
| Other amounts payable | 47/48 | €0 | €209,018 | +€209,018 | |
| Accrued charges and deferred income | 492/3 | €200 | €762 | +€562 | +281% |
| Non-recurring operating income | 76A | - | €21,795 | +€21,795 | |
| Remuneration, social security and pensions | 62 | €441,723 | €442,935 | +€1,212 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,431 | €33,904 | +€9,473 | +38.8% |
| Other operating charges | 640/8 | €868 | €1,045 | +€177 | +20.3% |
| Non-recurring operating charges | 66A | €1,302 | €0 | -€1,302 | -100% |
| Gross operating margin | 9900 | €400,307 | €674,626 | +€274,319 | +68.5% |
| Operating profit (loss) | 9901 | -€68,017 | €196,742 | +€264,760 | |
| Financial income | 75/76B | €7,508 | €6,179 | -€1,329 | -17.7% |
| Recurring financial income | 75 | €7,508 | €6,179 | -€1,329 | -17.7% |
| Financial charges | 65/66B | €154 | €80 | -€75 | -48.4% |
| Recurring financial charges | 65 | €154 | €80 | -€75 | -48.4% |
| Profit (loss) for the period before taxes | 9903 | -€60,664 | €202,841 | +€263,505 | |
| Income taxes | 67/77 | -€105 | €43,700 | +€43,805 | |
| Profit (loss) for the period | 9904 | -€60,559 | €159,141 | +€219,701 | |
| Profit (loss) for the period to be appropriated | 9905 | -€60,559 | €159,141 | +€219,701 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.