MARANJO: 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.
MARANJO
Largest movements
- Stocks and contracts -€7,162
down €7,162 (-16.3%), from €43,936 to €36,774
- Receivables within one year -€6,841
down €6,841 (-31.0%), from €22,072 to €15,230
of which Trade receivables: -€6,185
- Cash -€6,123
down €6,123 (-39.8%), from €15,401 to €9,278
mainly Trade debts (-€23,141) and Tax, wage and social debts (-€2,111)
- Tangible fixed assets -€1,303
down €1,303 (-41.8%), from €3,114 to €1,811
of which Furniture and vehicles: -€1,122
- Trade debts -€23,141
down €23,141 (-59.6%), from €38,859 to €15,718
- Profit (loss) carried forward +€3,751
up €3,751 (+14.3%), from -€26,231 to -€22,480
- Tax, wage and social debts -€2,111
down €2,111 (-47.3%), from €4,464 to €2,353
- Gross operating margin +€697
up €697 (+11.4%), from €6,128 to €6,824
- Financial charges -€567
down €567 (-47.8%), from €1,186 to €619
- Other operating charges -€505
down €505 (-31.4%), from €1,609 to €1,104
- Depreciation -€495
down €495 (-24.6%), from €2,010 to €1,515
- Financial income +€165
new in 2025: €165
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 | €108,279 | €86,778 | -€21,501 | -19.9% |
| Fixed assets | 21/28 | €3,450 | €1,935 | -€1,515 | -43.9% |
| Intangible fixed assets | 21 | €336 | €124 | -€212 | -63.0% |
| Tangible fixed assets | 22/27 | €3,114 | €1,811 | -€1,303 | -41.8% |
| Plant, machinery and equipment | 23 | €324 | €143 | -€181 | -55.9% |
| Furniture and vehicles | 24 | €2,790 | €1,668 | -€1,122 | -40.2% |
| Current assets | 29/58 | €104,829 | €84,843 | -€19,986 | -19.1% |
| Amounts receivable after more than one year | 29 | €23,000 | €23,000 | = | 0.0% |
| Other amounts receivable | 291 | €23,000 | €23,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €43,936 | €36,774 | -€7,162 | -16.3% |
| Stocks | 30/36 | €43,936 | €36,774 | -€7,162 | -16.3% |
| Amounts receivable within one year | 40/41 | €22,072 | €15,230 | -€6,841 | -31.0% |
| Trade receivables | 40 | €17,788 | €11,604 | -€6,185 | -34.8% |
| Other amounts receivable | 41 | €4,283 | €3,626 | -€657 | -15.3% |
| Cash at bank and in hand | 54/58 | €15,401 | €9,278 | -€6,123 | -39.8% |
| Deferred charges and accrued income | 490/1 | €421 | €561 | +€140 | +33.3% |
| Total equity and liabilities | 10/49 | €108,279 | €86,778 | -€21,501 | -19.9% |
| Equity | 10/15 | €64,957 | €68,708 | +€3,751 | +5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €72,587 | €72,587 | = | 0.0% |
| 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 | €70,727 | €70,727 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,231 | -€22,480 | +€3,751 | +14.3% |
| Amounts payable | 17/49 | €43,323 | €18,071 | -€25,252 | -58.3% |
| Amounts payable within one year | 42/48 | €43,323 | €18,071 | -€25,252 | -58.3% |
| Trade debts | 44 | €38,859 | €15,718 | -€23,141 | -59.6% |
| Suppliers | 440/4 | €38,859 | €15,718 | -€23,141 | -59.6% |
| Taxes, remuneration and social security | 45 | €4,464 | €2,353 | -€2,111 | -47.3% |
| Taxes | 450/3 | €4,464 | €2,353 | -€2,111 | -47.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,010 | €1,515 | -€495 | -24.6% |
| Other operating charges | 640/8 | €1,609 | €1,104 | -€505 | -31.4% |
| Gross operating margin | 9900 | €6,128 | €6,824 | +€697 | +11.4% |
| Operating profit (loss) | 9901 | €2,508 | €4,205 | +€1,697 | +67.7% |
| Financial income | 75/76B | - | €165 | +€165 | |
| Recurring financial income | 75 | - | €165 | +€165 | |
| Financial charges | 65/66B | €1,186 | €619 | -€567 | -47.8% |
| Recurring financial charges | 65 | €1,186 | €619 | -€567 | -47.8% |
| Profit (loss) for the period before taxes | 9903 | €1,322 | €3,751 | +€2,429 | +183.6% |
| Profit (loss) for the period | 9904 | €1,322 | €3,751 | +€2,429 | +183.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,322 | €3,751 | +€2,429 | +183.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.