MARALEX: 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.
MARALEX
Largest movements
- Cash -€18,414
down €18,414 (-100.0%), from €18,416 to €3
mainly Net result for the year (-€30,746) and Receivables within one year (-€5,585)
- Tangible fixed assets -€7,944
down €7,944 (-33.6%), from €23,630 to €15,686
- Receivables within one year +€5,585
up €5,585 (+230.6%), from €2,422 to €8,007
of which Trade receivables: +€5,585
- Profit (loss) carried forward -€30,746
down €30,746 (-101.6%), from -€30,259 to -€61,005
- Trade debts +€12,014
up €12,014 (+881.4%), from €1,363 to €13,377
- Other debts -€1,798
down €1,798 (-2.9%), from €62,904 to €61,105
- Gross operating margin -€18,532
down €18,532, from €14,288 to -€4,244
- Staff costs +€10,599
up €10,599, from -€10,420 to €179
- Depreciation -€5,350
down €5,350 (-40.2%), from €13,294 to €7,944
- Financial charges -€3,967
down €3,967 (-93.2%), from €4,258 to €291
- Other operating charges -€260
down €260 (-30.5%), from €852 to €592
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,469 | €23,696 | -€20,773 | -46.7% |
| Fixed assets | 21/28 | €23,630 | €15,686 | -€7,944 | -33.6% |
| Tangible fixed assets | 22/27 | €23,630 | €15,686 | -€7,944 | -33.6% |
| Furniture and vehicles | 24 | €23,630 | €15,686 | -€7,944 | -33.6% |
| Current assets | 29/58 | €20,838 | €8,010 | -€12,829 | -61.6% |
| Amounts receivable within one year | 40/41 | €2,422 | €8,007 | +€5,585 | +230.6% |
| Trade receivables | 40 | - | €5,585 | +€5,585 | |
| Other amounts receivable | 41 | €2,422 | €2,422 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €18,416 | €3 | -€18,414 | -100.0% |
| Total equity and liabilities | 10/49 | €44,469 | €23,696 | -€20,773 | -46.7% |
| Equity | 10/15 | -€20,259 | -€51,005 | -€30,746 | -151.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,259 | -€61,005 | -€30,746 | -101.6% |
| Amounts payable | 17/49 | €64,728 | €74,701 | +€9,973 | +15.4% |
| Amounts payable within one year | 42/48 | €64,728 | €74,701 | +€9,973 | +15.4% |
| Trade debts | 44 | €1,363 | €13,377 | +€12,014 | +881.4% |
| Suppliers | 440/4 | €1,363 | €13,377 | +€12,014 | +881.4% |
| Taxes, remuneration and social security | 45 | €461 | €219 | -€242 | -52.5% |
| Taxes | 450/3 | €461 | €219 | -€242 | -52.5% |
| Other amounts payable | 47/48 | €62,904 | €61,105 | -€1,798 | -2.9% |
| Remuneration, social security and pensions | 62 | -€10,420 | €179 | +€10,599 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,294 | €7,944 | -€5,350 | -40.2% |
| Other operating charges | 640/8 | €852 | €592 | -€260 | -30.5% |
| Non-recurring operating charges | 66A | - | €17,292 | +€17,292 | |
| Gross operating margin | 9900 | €14,288 | -€4,244 | -€18,532 | |
| Operating profit (loss) | 9901 | €10,563 | -€30,251 | -€40,813 | |
| Financial income | 75/76B | €10 | €0 | -€10 | -100.0% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -100.0% |
| Financial charges | 65/66B | €4,258 | €291 | -€3,967 | -93.2% |
| Recurring financial charges | 65 | €4,258 | €291 | -€3,967 | -93.2% |
| Profit (loss) for the period before taxes | 9903 | €6,315 | -€30,542 | -€36,856 | |
| Income taxes | 67/77 | €235 | €204 | -€31 | -13.1% |
| Profit (loss) for the period | 9904 | €6,080 | -€30,746 | -€36,826 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,080 | -€30,746 | -€36,826 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.