MARABELLE: 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.
What changed
MARABELLE
NACE 55.203, Holiday cottages, homes and apartments
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€15,820
2024 · €17,380-€1,560
Equity
€462,133
2024 · €455,313+€6,820
Cash
€23,249
2024 · €29,291-€6,042
Balance sheet total
€652,158
2024 · €661,357-€9,199
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Trade debts -€17,554
down €17,554 (-55.3%), from €31,732 to €14,178
- Debts after one year -€12,000
down €12,000 (-8.1%), from €148,000 to €136,000
- Other debts +€9,181
up €9,181 (+52.2%), from €17,587 to €26,768
Income statement
- Depreciation +€9,892
up €9,892 (+50.0%), from €19,780 to €29,672
- Taxes -€6,404
down €6,404, from €5,223 to -€1,181
- Gross operating margin +€1,570
up €1,570 (+3.1%), from €51,447 to €53,018
- Other operating charges -€686
down €686 (-13.2%), from €5,176 to €4,490
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.
Result 2024
€17,380
Gross operating margin
+€1,570
Depreciation
-€9,892
Other operating charges
+€686
Financial income
-€1
Financial charges
-€327
Taxes
+€6,404
Result 2025
€15,820
Cash bridge derived
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.
From operations
+€39,185
Investment
-€24,227
Financing
-€21,000
Cash 2024
€29,291
From operations (derived)
+€39,185
Net result for the year
+€15,820
Depreciation
+€29,672
Stocks and contracts
-€537
Receivables within one year
-€1,505
Deferred charges and accrued income
-€245
Trade debts
-€17,554
Tax, wage and social debts
+€729
Other debts
+€9,181
Accrued charges and deferred income
+€3,625
Investment (derived)
-€24,227
Investment in fixed assets (net)
-€24,227
Financing
-€21,000
Debts after one year
-€12,000
Contributions, distributions and other
-€9,000
Cash 2025
€23,249
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €661,357 | €652,158 | -€9,199 | -1.4% |
| Fixed assets | 21/28 | €618,174 | €612,729 | -€5,444 | -0.9% |
| Tangible fixed assets | 22/27 | €617,724 | €612,279 | -€5,444 | -0.9% |
| Land and buildings | 22 | €573,735 | €576,959 | +€3,223 | +0.6% |
| Plant, machinery and equipment | 23 | €25,098 | €22,557 | -€2,541 | -10.1% |
| Furniture and vehicles | 24 | €760 | €263 | -€497 | -65.4% |
| Other tangible fixed assets | 26 | €15,361 | €12,501 | -€2,860 | -18.6% |
| Assets under construction and advance payments | 27 | €2,770 | - | -€2,770 | |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €43,184 | €39,429 | -€3,754 | -8.7% |
| Stocks and contracts in progress | 3 | €1,438 | €1,975 | +€537 | +37.4% |
| Stocks | 30/36 | €1,438 | €1,975 | +€537 | +37.4% |
| Amounts receivable within one year | 40/41 | €11,404 | €12,909 | +€1,505 | +13.2% |
| Trade receivables | 40 | €11,272 | €9,130 | -€2,143 | -19.0% |
| Other amounts receivable | 41 | €132 | €3,779 | +€3,648 | +2770.1% |
| Cash at bank and in hand | 54/58 | €29,291 | €23,249 | -€6,042 | -20.6% |
| Deferred charges and accrued income | 490/1 | €1,051 | €1,297 | +€245 | +23.3% |
| Total equity and liabilities | 10/49 | €661,357 | €652,158 | -€9,199 | -1.4% |
| Equity | 10/15 | €455,313 | €462,133 | +€6,820 | +1.5% |
| Contributions | 10/11 | €353,000 | €353,000 | = | 0.0% |
| Capital | 10 | €353,000 | €353,000 | = | 0.0% |
| Issued capital | 100 | €353,000 | €353,000 | = | 0.0% |
| Reserves | 13 | €100,770 | €106,670 | +€5,900 | +5.9% |
| Non-distributable reserves | 130/1 | €35,300 | €35,300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €35,300 | €35,300 | = | 0.0% |
| Distributable reserves | 133 | €65,470 | €71,370 | +€5,900 | +9.0% |
| Profit (loss) carried forward | 14 | €1,543 | €2,463 | +€920 | +59.6% |
| Amounts payable | 17/49 | €206,044 | €190,026 | -€16,018 | -7.8% |
| Amounts payable after more than one year | 17 | €148,000 | €136,000 | -€12,000 | -8.1% |
| Financial debts | 170/4 | €148,000 | €136,000 | -€12,000 | -8.1% |
| Amounts payable within one year | 42/48 | €51,043 | €43,400 | -€7,644 | -15.0% |
| Trade debts | 44 | €31,732 | €14,178 | -€17,554 | -55.3% |
| Suppliers | 440/4 | €31,732 | €14,178 | -€17,554 | -55.3% |
| Taxes, remuneration and social security | 45 | €1,724 | €2,453 | +€729 | +42.3% |
| Taxes | 450/3 | €1,724 | €2,453 | +€729 | +42.3% |
| Other amounts payable | 47/48 | €17,587 | €26,768 | +€9,181 | +52.2% |
| Accrued charges and deferred income | 492/3 | €7,001 | €10,626 | +€3,625 | +51.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,780 | €29,672 | +€9,892 | +50.0% |
| Other operating charges | 640/8 | €5,176 | €4,490 | -€686 | -13.2% |
| Gross operating margin | 9900 | €51,447 | €53,018 | +€1,570 | +3.1% |
| Operating profit (loss) | 9901 | €26,491 | €18,855 | -€7,636 | -28.8% |
| Financial income | 75/76B | €7 | €6 | -€1 | -12.8% |
| Recurring financial income | 75 | €7 | €6 | -€1 | -12.8% |
| Financial charges | 65/66B | €3,895 | €4,222 | +€327 | +8.4% |
| Recurring financial charges | 65 | €3,895 | €4,222 | +€327 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €22,603 | €14,639 | -€7,964 | -35.2% |
| Income taxes | 67/77 | €5,223 | -€1,181 | -€6,404 | |
| Profit (loss) for the period | 9904 | €17,380 | €15,820 | -€1,560 | -9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,380 | €15,820 | -€1,560 | -9.0% |
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 9 October 2026 via checked.be.