MaranCigars: 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.
MaranCigars
Largest movements
- Stocks and contracts -€73,514
down €73,514 (-100.0%), from €73,514 to €0
- Tangible fixed assets -€3,078
down €3,078 (-49.3%), from €6,250 to €3,171
- Cash -€2,715
down €2,715 (-41.3%), from €6,579 to €3,864
mainly Net result for the year (-€63,135) and Trade debts (-€17,999)
- Profit (loss) carried forward -€63,135
down €63,135, from €2,148 to -€60,987
- Trade debts -€17,999
down €17,999 (-85.6%), from €21,023 to €3,024
- Accrued charges and deferred income +€7,475
up €7,475, from €0 to €7,475
- Other debts -€4,303
down €4,303 (-7.3%), from €58,878 to €54,575
- Gross operating margin -€36,610
down €36,610 (-211.2%), from -€17,336 to -€53,946
- Financial charges +€2,349
up €2,349 (+73.1%), from €3,212 to €5,562
- Other operating charges -€1,161
down €1,161 (-49.1%), from €2,363 to €1,202
- Financial income +€717
up €717 (+938.9%), from €76 to €794
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 | €101,872 | €23,051 | -€78,821 | -77.4% |
| Fixed assets | 21/28 | €16,250 | €13,171 | -€3,078 | -18.9% |
| Tangible fixed assets | 22/27 | €6,250 | €3,171 | -€3,078 | -49.3% |
| Plant, machinery and equipment | 23 | €6,250 | €3,171 | -€3,078 | -49.3% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €85,622 | €9,880 | -€75,743 | -88.5% |
| Stocks and contracts in progress | 3 | €73,514 | €0 | -€73,514 | -100.0% |
| Stocks | 30/36 | €73,514 | €0 | -€73,514 | -100.0% |
| Amounts receivable within one year | 40/41 | €5,198 | €5,418 | +€219 | +4.2% |
| Trade receivables | 40 | €2,365 | €5,003 | +€2,638 | +111.5% |
| Other amounts receivable | 41 | €2,833 | €415 | -€2,419 | -85.4% |
| Cash at bank and in hand | 54/58 | €6,579 | €3,864 | -€2,715 | -41.3% |
| Deferred charges and accrued income | 490/1 | €332 | €598 | +€266 | +80.3% |
| Total equity and liabilities | 10/49 | €101,872 | €23,051 | -€78,821 | -77.4% |
| Equity | 10/15 | €20,821 | -€42,314 | -€63,135 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €73 | €73 | = | 0.0% |
| Non-distributable reserves | 130/1 | €73 | €73 | = | 0.0% |
| Reserves not available under the articles | 1311 | €73 | €73 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,148 | -€60,987 | -€63,135 | |
| Amounts payable | 17/49 | €81,051 | €65,365 | -€15,686 | -19.4% |
| Amounts payable within one year | 42/48 | €81,051 | €57,890 | -€23,161 | -28.6% |
| Trade debts | 44 | €21,023 | €3,024 | -€17,999 | -85.6% |
| Suppliers | 440/4 | €21,023 | €3,024 | -€17,999 | -85.6% |
| Taxes, remuneration and social security | 45 | €1,150 | €291 | -€859 | -74.7% |
| Taxes | 450/3 | €150 | €291 | +€141 | +93.8% |
| Remuneration and social security | 454/9 | €1,000 | €0 | -€1,000 | -100.0% |
| Other amounts payable | 47/48 | €58,878 | €54,575 | -€4,303 | -7.3% |
| Accrued charges and deferred income | 492/3 | €0 | €7,475 | +€7,475 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,078 | €3,078 | -€0 | 0.0% |
| Other operating charges | 640/8 | €2,363 | €1,202 | -€1,161 | -49.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€17,336 | -€53,946 | -€36,610 | -211.2% |
| Operating profit (loss) | 9901 | -€22,777 | -€58,226 | -€35,449 | -155.6% |
| Financial income | 75/76B | €76 | €794 | +€717 | +938.9% |
| Recurring financial income | 75 | €76 | €794 | +€717 | +938.9% |
| Financial charges | 65/66B | €3,212 | €5,562 | +€2,349 | +73.1% |
| Recurring financial charges | 65 | €3,212 | €5,562 | +€2,349 | +73.1% |
| Profit (loss) for the period before taxes | 9903 | -€25,913 | -€62,994 | -€37,081 | -143.1% |
| Income taxes | 67/77 | €150 | €141 | -€9 | -6.2% |
| Profit (loss) for the period | 9904 | -€26,064 | -€63,135 | -€37,071 | -142.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,064 | -€63,135 | -€37,071 | -142.2% |
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 7 October 2026 via checked.be.