MARAL: 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.
MARAL
Largest movements
- Stocks and contracts -€25,200
down €25,200 (-7.9%), from €317,247 to €292,047
- Trade debts -€28,549
down €28,549 (-76.4%), from €37,370 to €8,821
- Other debts +€5,643
up €5,643 (+0.9%), from €626,378 to €632,021
- Other operating charges -€1,099
down €1,099 (-63.6%), from €1,726 to €628
- Financial charges -€80
down €80 (-85.1%), from €93 to €14
- Gross operating margin -€70
down €70 (-2.0%), from -€3,522 to -€3,592
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.
Cash bridge derived
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 | €487,523 | €460,383 | -€27,140 | -5.6% |
| Current assets | 29/58 | €487,523 | €460,383 | -€27,140 | -5.6% |
| Stocks and contracts in progress | 3 | €317,247 | €292,047 | -€25,200 | -7.9% |
| Stocks | 30/36 | €317,247 | €292,047 | -€25,200 | -7.9% |
| Amounts receivable within one year | 40/41 | €170,079 | €168,107 | -€1,972 | -1.2% |
| Trade receivables | 40 | €43,807 | €43,807 | = | 0.0% |
| Other amounts receivable | 41 | €126,272 | €124,300 | -€1,972 | -1.6% |
| Cash at bank and in hand | 54/58 | €167 | €200 | +€32 | +19.3% |
| Deferred charges and accrued income | 490/1 | €30 | €30 | = | 0.0% |
| Total equity and liabilities | 10/49 | €487,523 | €460,383 | -€27,140 | -5.6% |
| Equity | 10/15 | -€176,225 | -€180,459 | -€4,234 | -2.4% |
| Contributions | 10/11 | €349,000 | €349,000 | = | 0.0% |
| Reserves | 13 | €1,651 | €1,651 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,651 | €1,651 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,651 | €1,651 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€526,876 | -€531,110 | -€4,234 | -0.8% |
| Amounts payable | 17/49 | €663,748 | €640,842 | -€22,906 | -3.5% |
| Amounts payable within one year | 42/48 | €663,748 | €640,842 | -€22,906 | -3.5% |
| Trade debts | 44 | €37,370 | €8,821 | -€28,549 | -76.4% |
| Suppliers | 440/4 | €37,370 | €8,821 | -€28,549 | -76.4% |
| Other amounts payable | 47/48 | €626,378 | €632,021 | +€5,643 | +0.9% |
| Other operating charges | 640/8 | €1,726 | €628 | -€1,099 | -63.6% |
| Gross operating margin | 9900 | -€3,522 | -€3,592 | -€70 | -2.0% |
| Operating profit (loss) | 9901 | -€5,249 | -€4,220 | +€1,029 | +19.6% |
| Financial charges | 65/66B | €93 | €14 | -€80 | -85.1% |
| Recurring financial charges | 65 | €93 | €14 | -€80 | -85.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,342 | -€4,234 | +€1,108 | +20.7% |
| Profit (loss) for the period | 9904 | -€5,342 | -€4,234 | +€1,108 | +20.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,342 | -€4,234 | +€1,108 | +20.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.