MARACAY: 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.
What changed
MARACAY
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€26,576
2024 · €277,154-€250,578
Equity
€2.9m
2024 · €3.3m-€332,301
Cash
€139,377
2024 · €125,584+€13,793
Balance sheet total
€4.1m
2024 · €4.3m-€287,720
Largest movements
Assets
- Deferred charges and accrued income -€166,430
down €166,430 (-90.4%), from €184,127 to €17,696
- Receivables after one year -€90,000
down €90,000 (-22.1%), from €406,710 to €316,710
Equity and liabilities
- Reserves -€332,301
down €332,301 (-36.3%), from €914,936 to €582,635
- Other debts +€82,693
up €82,693 (+8.4%), from €988,464 to €1.1m
Income statement
- Financial income -€301,751
down €301,751 (-95.9%), from €314,514 to €12,763
- Taxes -€28,855
down €28,855 (-74.7%), from €38,628 to €9,773
- Financial charges -€18,570
down €18,570 (-27.8%), from €66,870 to €48,300
of which Non-recurring financial charges: -€18,000
- Gross operating margin +€5,107
up €5,107 (+6.2%), from €82,621 to €87,727
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
€277,154
Gross operating margin
+€5,107
Depreciation
-€851
Other operating charges
-€507
Financial income
-€301,751
Financial charges
+€18,570
Taxes
+€28,855
Result 2025
€26,576
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
+€394,389
Investment
-€7,573
Financing
-€373,024
Cash 2024
€125,584
From operations (derived)
+€394,389
Net result for the year
+€26,576
Depreciation
+€10,802
Receivables after one year
+€90,000
Receivables within one year
+€41,853
Deferred charges and accrued income
+€166,430
Trade debts
-€4,697
Tax, wage and social debts
-€28,479
Advances received
+€25,429
Other debts
+€82,693
Accrued charges and deferred income
-€16,218
Investment (derived)
-€7,573
Investment in fixed assets (net)
-€7,573
Financing
-€373,024
Short-term financial debts
-€14,147
Contributions, distributions and other
-€358,877
Cash 2025
€139,377
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,342,931 | €4,055,211 | -€287,720 | -6.6% |
| Fixed assets | 21/28 | €3,578,414 | €3,575,184 | -€3,230 | -0.1% |
| Tangible fixed assets | 22/27 | €30,014 | €26,783 | -€3,231 | -10.8% |
| Plant, machinery and equipment | 23 | €11,608 | €9,715 | -€1,893 | -16.3% |
| Furniture and vehicles | 24 | €18,406 | €17,068 | -€1,338 | -7.3% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €3,548,401 | €3,548,402 | +€1 | 0.0% |
| Current assets | 29/58 | €764,517 | €480,027 | -€284,490 | -37.2% |
| Amounts receivable after more than one year | 29 | €406,710 | €316,710 | -€90,000 | -22.1% |
| Other amounts receivable | 291 | €406,710 | €316,710 | -€90,000 | -22.1% |
| Amounts receivable within one year | 40/41 | €48,096 | €6,243 | -€41,853 | -87.0% |
| Trade receivables | 40 | €10,879 | €17 | -€10,863 | -99.8% |
| Other amounts receivable | 41 | €37,217 | €6,227 | -€30,990 | -83.3% |
| Cash at bank and in hand | 54/58 | €125,584 | €139,377 | +€13,793 | +11.0% |
| Deferred charges and accrued income | 490/1 | €184,127 | €17,696 | -€166,430 | -90.4% |
| Total equity and liabilities | 10/49 | €4,342,931 | €4,055,211 | -€287,720 | -6.6% |
| Equity | 10/15 | €3,253,537 | €2,921,236 | -€332,301 | -10.2% |
| Contributions | 10/11 | €2,338,601 | €2,338,601 | = | 0.0% |
| Reserves | 13 | €914,936 | €582,635 | -€332,301 | -36.3% |
| Distributable reserves | 133 | €914,936 | €582,635 | -€332,301 | -36.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,089,393 | €1,133,974 | +€44,581 | +4.1% |
| Amounts payable within one year | 42/48 | €1,060,923 | €1,121,723 | +€60,799 | +5.7% |
| Financial debts | 43 | €23,537 | €9,390 | -€14,147 | -60.1% |
| Credit institutions | 430/8 | €23,537 | €9,390 | -€14,147 | -60.1% |
| Trade debts | 44 | €15,659 | €10,962 | -€4,697 | -30.0% |
| Suppliers | 440/4 | €15,659 | €10,962 | -€4,697 | -30.0% |
| Advances received on contracts in progress | 46 | €0 | €25,429 | +€25,429 | |
| Taxes, remuneration and social security | 45 | €33,264 | €4,785 | -€28,479 | -85.6% |
| Taxes | 450/3 | €33,264 | €4,785 | -€28,479 | -85.6% |
| Other amounts payable | 47/48 | €988,464 | €1,071,156 | +€82,693 | +8.4% |
| Accrued charges and deferred income | 492/3 | €28,470 | €12,252 | -€16,218 | -57.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,952 | €10,802 | +€851 | +8.5% |
| Other operating charges | 640/8 | €4,531 | €5,039 | +€507 | +11.2% |
| Gross operating margin | 9900 | €82,621 | €87,727 | +€5,107 | +6.2% |
| Operating profit (loss) | 9901 | €68,137 | €71,886 | +€3,749 | +5.5% |
| Financial income | 75/76B | €314,514 | €12,763 | -€301,751 | -95.9% |
| Recurring financial income | 75 | €314,514 | €12,763 | -€301,751 | -95.9% |
| Financial charges | 65/66B | €66,870 | €48,300 | -€18,570 | -27.8% |
| Recurring financial charges | 65 | €48,870 | €48,300 | -€570 | -1.2% |
| Non-recurring financial charges | 66B | €18,000 | €0 | -€18,000 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €315,782 | €36,350 | -€279,432 | -88.5% |
| Income taxes | 67/77 | €38,628 | €9,773 | -€28,855 | -74.7% |
| Profit (loss) for the period | 9904 | €277,154 | €26,576 | -€250,578 | -90.4% |
| Profit (loss) for the period to be appropriated | 9905 | €277,154 | €26,576 | -€250,578 | -90.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.