MAR.RON: what changed
Two fiscal 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.RON
Largest movements
- Stocks and contracts +€15,619
up €15,619 (+19.2%), from €81,465 to €97,084
- Cash -€10,728
down €10,728 (-24.9%), from €43,036 to €32,308
mainly Stocks and contracts (-€15,619) and Net result for the year (-€3,872)
- Receivables within one year -€8,230
down €8,230 (-25.7%), from €32,085 to €23,855
of which Trade receivables: -€9,655
- Reserves -€3,872
down €3,872 (-5.0%), from €77,832 to €73,960
- Trade debts +€2,202
up €2,202 (+16.5%), from €13,345 to €15,547
- Tax, wage and social debts -€2,028
down €2,028 (-58.2%), from €3,487 to €1,459
of which Taxes: -€2,028
- Gross operating margin -€16,219
down €16,219, from €13,199 to -€3,019
- Write-downs -€4,572
no longer reported in 2026 (was €4,572)
- Taxes -€2,794
down €2,794, from €2,466 to -€328
- Financial charges -€526
down €526 (-87.1%), from €604 to €78
- Other operating charges +€149
up €149 (+28.9%), from €513 to €662
From the 2025 result to the 2026 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.
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €157,664 | €153,966 | -€3,698 | -2.3% |
| Fixed assets | 21/28 | €830 | €391 | -€440 | -53.0% |
| Tangible fixed assets | 22/27 | €830 | €391 | -€440 | -53.0% |
| Furniture and vehicles | 24 | €830 | €391 | -€440 | -53.0% |
| Current assets | 29/58 | €156,834 | €153,575 | -€3,259 | -2.1% |
| Stocks and contracts in progress | 3 | €81,465 | €97,084 | +€15,619 | +19.2% |
| Stocks | 30/36 | €81,465 | €97,084 | +€15,619 | +19.2% |
| Amounts receivable within one year | 40/41 | €32,085 | €23,855 | -€8,230 | -25.7% |
| Trade receivables | 40 | €30,982 | €21,327 | -€9,655 | -31.2% |
| Other amounts receivable | 41 | €1,102 | €2,527 | +€1,425 | +129.3% |
| Cash at bank and in hand | 54/58 | €43,036 | €32,308 | -€10,728 | -24.9% |
| Deferred charges and accrued income | 490/1 | €248 | €329 | +€80 | +32.4% |
| Total equity and liabilities | 10/49 | €157,664 | €153,966 | -€3,698 | -2.3% |
| Equity | 10/15 | €140,832 | €136,960 | -€3,872 | -2.7% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €77,832 | €73,960 | -€3,872 | -5.0% |
| Distributable reserves | 133 | €77,832 | €73,960 | -€3,872 | -5.0% |
| Amounts payable | 17/49 | €16,832 | €17,006 | +€173 | +1.0% |
| Amounts payable within one year | 42/48 | €16,832 | €17,006 | +€173 | +1.0% |
| Trade debts | 44 | €13,345 | €15,547 | +€2,202 | +16.5% |
| Suppliers | 440/4 | €13,345 | €15,547 | +€2,202 | +16.5% |
| Taxes, remuneration and social security | 45 | €3,487 | €1,459 | -€2,028 | -58.2% |
| Taxes | 450/3 | €3,487 | €1,459 | -€2,028 | -58.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €508 | €440 | -€68 | -13.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,572 | - | -€4,572 | |
| Other operating charges | 640/8 | €513 | €662 | +€149 | +28.9% |
| Gross operating margin | 9900 | €13,199 | -€3,019 | -€16,219 | |
| Operating profit (loss) | 9901 | €7,606 | -€4,121 | -€11,727 | |
| Financial income | 75/76B | €15 | €0 | -€15 | -99.4% |
| Recurring financial income | 75 | €15 | €0 | -€15 | -99.4% |
| Financial charges | 65/66B | €604 | €78 | -€526 | -87.1% |
| Recurring financial charges | 65 | €604 | €78 | -€526 | -87.1% |
| Profit (loss) for the period before taxes | 9903 | €7,017 | -€4,199 | -€11,217 | |
| Income taxes | 67/77 | €2,466 | -€328 | -€2,794 | |
| Profit (loss) for the period | 9904 | €4,551 | -€3,872 | -€8,423 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,551 | -€3,872 | -€8,423 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.