MARANCO: 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.
MARANCO
Largest movements
- Cash +€73,983
up €73,983 (+93.0%), from €79,571 to €153,554
mainly Other debts (+€133,669) and Net result for the year (+€58,019)
- Tangible fixed assets -€38,187
down €38,187 (-4.5%), from €848,011 to €809,824
of which Land and buildings: -€36,271
- Other debts +€133,669
up €133,669 (+68.0%), from €196,431 to €330,100
- Reserves -€70,253
down €70,253 (-27.6%), from €254,811 to €184,558
of which Distributable reserves: -€70,253
- Current portion of long-term debt -€19,793
down €19,793 (-52.3%), from €37,826 to €18,033
- Debts after one year -€18,032
down €18,032 (-4.1%), from €435,564 to €417,532
- Gross operating margin +€40,819
up €40,819 (+46.0%), from €88,796 to €129,615
- Taxes +€7,328
up €7,328 (+54.8%), from €13,381 to €20,709
From the 2025 result to the 2026 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.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €944,703 | €979,522 | +€34,819 | +3.7% |
| Fixed assets | 21/28 | €848,011 | €809,824 | -€38,187 | -4.5% |
| Tangible fixed assets | 22/27 | €848,011 | €809,824 | -€38,187 | -4.5% |
| Land and buildings | 22 | €843,269 | €806,999 | -€36,271 | -4.3% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €4,742 | €2,825 | -€1,917 | -40.4% |
| Current assets | 29/58 | €96,692 | €169,698 | +€73,006 | +75.5% |
| Amounts receivable within one year | 40/41 | €16,962 | €16,144 | -€818 | -4.8% |
| Trade receivables | 40 | - | €11,932 | +€11,932 | |
| Other amounts receivable | 41 | €16,962 | €4,212 | -€12,750 | -75.2% |
| Cash at bank and in hand | 54/58 | €79,571 | €153,554 | +€73,983 | +93.0% |
| Deferred charges and accrued income | 490/1 | €159 | - | -€159 | |
| Total equity and liabilities | 10/49 | €944,703 | €979,522 | +€34,819 | +3.7% |
| Equity | 10/15 | €273,411 | €203,158 | -€70,253 | -25.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €254,811 | €184,558 | -€70,253 | -27.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €252,951 | €182,698 | -€70,253 | -27.8% |
| Amounts payable | 17/49 | €671,292 | €776,364 | +€105,072 | +15.7% |
| Amounts payable after more than one year | 17 | €435,564 | €417,532 | -€18,032 | -4.1% |
| Financial debts | 170/4 | €435,564 | €417,532 | -€18,032 | -4.1% |
| Amounts payable within one year | 42/48 | €235,728 | €358,832 | +€123,104 | +52.2% |
| Current portion of amounts payable after more than one year | 42 | €37,826 | €18,033 | -€19,793 | -52.3% |
| Trade debts | 44 | €1,471 | €3,827 | +€2,356 | +160% |
| Suppliers | 440/4 | €1,471 | €3,827 | +€2,356 | +160% |
| Taxes, remuneration and social security | 45 | - | €6,872 | +€6,872 | |
| Taxes | 450/3 | - | €4,495 | +€4,495 | |
| Remuneration and social security | 454/9 | - | €2,377 | +€2,377 | |
| Other amounts payable | 47/48 | €196,431 | €330,100 | +€133,669 | +68.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,279 | €38,187 | +€908 | +2.4% |
| Other operating charges | 640/8 | €1,584 | €1,168 | -€415 | -26.2% |
| Gross operating margin | 9900 | €88,796 | €129,615 | +€40,819 | +46.0% |
| Operating profit (loss) | 9901 | €49,933 | €90,259 | +€40,326 | +80.8% |
| Financial income | 75/76B | €14 | €1 | -€13 | -91.0% |
| Recurring financial income | 75 | €14 | €1 | -€13 | -91.0% |
| Financial charges | 65/66B | €10,633 | €11,532 | +€899 | +8.5% |
| Recurring financial charges | 65 | €10,633 | €11,532 | +€899 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €39,315 | €78,728 | +€39,414 | +100% |
| Income taxes | 67/77 | €13,381 | €20,709 | +€7,328 | +54.8% |
| Profit (loss) for the period | 9904 | €25,934 | €58,019 | +€32,086 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €25,934 | €58,019 | +€32,086 | +124% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.