MAR@LAGO: 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.
MAR@LAGO
Largest movements
- Receivables within one year -€101,338
down €101,338 (-36.7%), from €276,053 to €174,715
of which Trade receivables: -€102,073
- Cash -€23,937
down €23,937 (-46.1%), from €51,878 to €27,941
mainly Trade debts (-€99,051) and Investment in fixed assets (net) (-€43,385)
- Tangible fixed assets +€18,133
up €18,133 (+26.3%), from €68,901 to €87,034
- Trade debts -€99,051
down €99,051 (-80.2%), from €123,545 to €24,494
- Reserves -€6,534
down €6,534 (-5.7%), from €114,604 to €108,071
of which Tax-exempt reserves: -€9,965
- Gross operating margin -€31,958
down €31,958 (-57.5%), from €55,560 to €23,602
- Taxes -€10,120
down €10,120 (-72.7%), from €13,920 to €3,800
- Depreciation +€9,468
up €9,468 (+60.0%), from €15,784 to €25,252
- Write-downs -€5,221
down €5,221 (-100%), from €5,221 to €0
- Other operating charges -€3,077
down €3,077 (-40.8%), from €7,542 to €4,465
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 | €399,560 | €292,418 | -€107,142 | -26.8% |
| Fixed assets | 21/28 | €71,629 | €89,762 | +€18,133 | +25.3% |
| Tangible fixed assets | 22/27 | €68,901 | €87,034 | +€18,133 | +26.3% |
| Furniture and vehicles | 24 | €68,901 | €87,034 | +€18,133 | +26.3% |
| Financial fixed assets | 28 | €2,729 | €2,729 | = | 0.0% |
| Current assets | 29/58 | €327,931 | €202,656 | -€125,275 | -38.2% |
| Amounts receivable within one year | 40/41 | €276,053 | €174,715 | -€101,338 | -36.7% |
| Trade receivables | 40 | €268,692 | €166,620 | -€102,073 | -38.0% |
| Other amounts receivable | 41 | €7,361 | €8,095 | +€734 | +10.0% |
| Cash at bank and in hand | 54/58 | €51,878 | €27,941 | -€23,937 | -46.1% |
| Total equity and liabilities | 10/49 | €399,560 | €292,418 | -€107,142 | -26.8% |
| Equity | 10/15 | €189,604 | €183,071 | -€6,534 | -3.4% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €114,604 | €108,071 | -€6,534 | -5.7% |
| Tax-exempt reserves | 132 | €15,226 | €5,260 | -€9,965 | -65.5% |
| Distributable reserves | 133 | €99,379 | €102,810 | +€3,432 | +3.5% |
| Provisions and deferred taxes | 16 | €5,075 | €1,753 | -€3,322 | -65.5% |
| Deferred taxes | 168 | €5,075 | €1,753 | -€3,322 | -65.5% |
| Amounts payable | 17/49 | €204,881 | €107,594 | -€97,287 | -47.5% |
| Amounts payable within one year | 42/48 | €204,881 | €107,594 | -€97,287 | -47.5% |
| Trade debts | 44 | €123,545 | €24,494 | -€99,051 | -80.2% |
| Suppliers | 440/4 | €123,545 | €24,494 | -€99,051 | -80.2% |
| Taxes, remuneration and social security | 45 | €7,987 | €9,368 | +€1,381 | +17.3% |
| Taxes | 450/3 | €7,987 | €9,368 | +€1,381 | +17.3% |
| Other amounts payable | 47/48 | €73,349 | €73,732 | +€383 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,784 | €25,252 | +€9,468 | +60.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,221 | €0 | -€5,221 | -100% |
| Other operating charges | 640/8 | €7,542 | €4,465 | -€3,077 | -40.8% |
| Gross operating margin | 9900 | €55,560 | €23,602 | -€31,958 | -57.5% |
| Operating profit (loss) | 9901 | €27,013 | -€6,116 | -€33,128 | |
| Financial income | 75/76B | €60 | €387 | +€328 | +551% |
| Recurring financial income | 75 | €60 | €387 | +€328 | +551% |
| Financial charges | 65/66B | €849 | €327 | -€522 | -61.5% |
| Recurring financial charges | 65 | €849 | €327 | -€522 | -61.5% |
| Profit (loss) for the period before taxes | 9903 | €26,223 | -€6,055 | -€32,279 | |
| Transfer from deferred taxes | 780 | €3,322 | €3,322 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €13,920 | €3,800 | -€10,120 | -72.7% |
| Profit (loss) for the period | 9904 | €15,625 | -€6,534 | -€22,159 | |
| Transfer from tax-exempt reserves | 789 | €9,965 | €9,965 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €25,591 | €3,432 | -€22,159 | -86.6% |
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 27 October 2026 via checked.be.