MAR-OL SPRL: 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-OL SPRL
Largest movements
- Receivables after one year -€37,290
down €37,290 (-22.3%), from €167,035 to €129,745
- Tangible fixed assets +€5,042
up €5,042 (+53.5%), from €9,426 to €14,468
of which Furniture and vehicles: +€2,916
- Tax, wage and social debts -€28,039
down €28,039 (-37.1%), from €75,634 to €47,595
- Reserves -€2,737
down €2,737 (-3.0%), from €92,397 to €89,660
of which Distributable reserves: -€2,737
- Gross operating margin -€122,086
down €122,086, from €121,785 to -€301
- Taxes -€30,637
down €30,637 (-98.0%), from €31,261 to €624
- Other operating charges -€7,661
down €7,661 (-80.3%), from €9,536 to €1,875
- Staff costs -€1,999
down €1,999 (-98.2%), from €2,035 to €36
- Depreciation -€1,645
down €1,645 (-40.3%), from €4,083 to €2,437
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 | €181,277 | €148,691 | -€32,586 | -18.0% |
| Fixed assets | 21/28 | €10,737 | €15,779 | +€5,042 | +47.0% |
| Tangible fixed assets | 22/27 | €9,426 | €14,468 | +€5,042 | +53.5% |
| Plant, machinery and equipment | 23 | €1,818 | €4,097 | +€2,279 | +125% |
| Furniture and vehicles | 24 | €6,856 | €9,772 | +€2,916 | +42.5% |
| Other tangible fixed assets | 26 | €752 | €599 | -€153 | -20.3% |
| Financial fixed assets | 28 | €1,311 | €1,311 | = | 0.0% |
| Current assets | 29/58 | €170,540 | €132,912 | -€37,628 | -22.1% |
| Amounts receivable after more than one year | 29 | €167,035 | €129,745 | -€37,290 | -22.3% |
| Other amounts receivable | 291 | €167,035 | €129,745 | -€37,290 | -22.3% |
| Stocks and contracts in progress | 3 | €1,850 | €1,850 | = | 0.0% |
| Stocks | 30/36 | €1,850 | €1,850 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,042 | €304 | -€738 | -70.8% |
| Other amounts receivable | 41 | €1,042 | €304 | -€738 | -70.8% |
| Cash at bank and in hand | 54/58 | €377 | €667 | +€290 | +76.8% |
| Deferred charges and accrued income | 490/1 | €236 | €346 | +€110 | +46.7% |
| Total equity and liabilities | 10/49 | €181,277 | €148,691 | -€32,586 | -18.0% |
| Equity | 10/15 | €98,597 | €94,416 | -€4,181 | -4.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €92,397 | €89,660 | -€2,737 | -3.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €90,537 | €87,800 | -€2,737 | -3.0% |
| Profit (loss) carried forward | 14 | - | -€1,444 | -€1,444 | |
| Amounts payable | 17/49 | €82,680 | €54,275 | -€28,406 | -34.4% |
| Amounts payable within one year | 42/48 | €82,680 | €54,275 | -€28,406 | -34.4% |
| Trade debts | 44 | €7,047 | €6,680 | -€367 | -5.2% |
| Suppliers | 440/4 | €7,047 | €6,680 | -€367 | -5.2% |
| Taxes, remuneration and social security | 45 | €75,634 | €47,595 | -€28,039 | -37.1% |
| Taxes | 450/3 | €75,634 | €47,595 | -€28,039 | -37.1% |
| Remuneration, social security and pensions | 62 | €2,035 | €36 | -€1,999 | -98.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,083 | €2,437 | -€1,645 | -40.3% |
| Other operating charges | 640/8 | €9,536 | €1,875 | -€7,661 | -80.3% |
| Non-recurring operating charges | 66A | - | €3,667 | +€3,667 | |
| Gross operating margin | 9900 | €121,785 | -€301 | -€122,086 | |
| Operating profit (loss) | 9901 | €106,131 | -€8,316 | -€114,447 | |
| Financial income | 75/76B | €7,174 | €8,286 | +€1,111 | +15.5% |
| Recurring financial income | 75 | €7,174 | €8,286 | +€1,111 | +15.5% |
| Financial charges | 65/66B | €3,929 | €3,526 | -€403 | -10.3% |
| Recurring financial charges | 65 | €3,929 | €3,526 | -€403 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €109,376 | -€3,557 | -€112,933 | |
| Income taxes | 67/77 | €31,261 | €624 | -€30,637 | -98.0% |
| Profit (loss) for the period | 9904 | €78,116 | -€4,181 | -€82,296 | |
| Profit (loss) for the period to be appropriated | 9905 | €78,116 | -€4,181 | -€82,296 |
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 25 October 2026 via checked.be.