MARANN: 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.
MARANN
Largest movements
- Current investments +€40,000
new in 2025: €40,000
- Receivables within one year -€29,788
down €29,788 (-73.4%), from €40,564 to €10,776
of which Trade receivables: -€30,390
- Cash -€27,712
down €27,712 (-31.5%), from €88,086 to €60,374
mainly Contributions, distributions and other (-€51,147) and Current investments (-€40,000)
- Deferred charges and accrued income +€21,796
up €21,796 (+893%), from €2,439 to €24,235
- Tangible fixed assets -€17,247
down €17,247 (-24.5%), from €70,478 to €53,231
of which Furniture and vehicles: -€14,759
- Other debts +€43,580
up €43,580 (+510%), from €8,553 to €52,133
- Reserves -€41,705
down €41,705 (-24.7%), from €169,001 to €127,296
- Debts after one year -€8,101
no longer reported in 2025 (was €8,101)
- Current portion of long-term debt -€3,614
down €3,614 (-30.8%), from €11,715 to €8,101
- Gross operating margin -€39,871
down €39,871 (-54.8%), from €72,726 to €32,855
- Taxes -€13,648
down €13,648 (-76.7%), from €17,787 to €4,139
- Financial charges -€752
down €752 (-45.5%), from €1,653 to €901
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.
Derived cash bridge
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 | €201,618 | €191,193 | -€10,425 | -5.2% |
| Fixed assets | 21/28 | €70,529 | €53,282 | -€17,247 | -24.5% |
| Tangible fixed assets | 22/27 | €70,478 | €53,231 | -€17,247 | -24.5% |
| Plant, machinery and equipment | 23 | €16,594 | €14,106 | -€2,488 | -15.0% |
| Furniture and vehicles | 24 | €53,884 | €39,125 | -€14,759 | -27.4% |
| Financial fixed assets | 28 | €51 | €51 | = | 0.0% |
| Current assets | 29/58 | €131,089 | €137,911 | +€6,822 | +5.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | - | €2,526 | +€2,526 | |
| Stocks | 30/36 | - | €2,526 | +€2,526 | |
| Amounts receivable within one year | 40/41 | €40,564 | €10,776 | -€29,788 | -73.4% |
| Trade receivables | 40 | €32,781 | €2,391 | -€30,390 | -92.7% |
| Other amounts receivable | 41 | €7,783 | €8,385 | +€602 | +7.7% |
| Current investments | 50/53 | - | €40,000 | +€40,000 | |
| Cash at bank and in hand | 54/58 | €88,086 | €60,374 | -€27,712 | -31.5% |
| Deferred charges and accrued income | 490/1 | €2,439 | €24,235 | +€21,796 | +893% |
| Total equity and liabilities | 10/49 | €201,618 | €191,193 | -€10,425 | -5.2% |
| Equity | 10/15 | €169,751 | €128,046 | -€41,705 | -24.6% |
| Contributions | 10/11 | €750 | €750 | = | 0.0% |
| Reserves | 13 | €169,001 | €127,296 | -€41,705 | -24.7% |
| Distributable reserves | 133 | €169,001 | €127,296 | -€41,705 | -24.7% |
| Amounts payable | 17/49 | €31,867 | €63,148 | +€31,280 | +98.2% |
| Amounts payable after more than one year | 17 | €8,101 | - | -€8,101 | |
| Financial debts | 170/4 | €8,101 | - | -€8,101 | |
| Amounts payable within one year | 42/48 | €23,766 | €63,148 | +€39,382 | +166% |
| Current portion of amounts payable after more than one year | 42 | €11,715 | €8,101 | -€3,614 | -30.8% |
| Trade debts | 44 | €3,130 | €2,193 | -€937 | -29.9% |
| Suppliers | 440/4 | €3,130 | €2,193 | -€937 | -29.9% |
| Taxes, remuneration and social security | 45 | €368 | €720 | +€352 | +95.7% |
| Taxes | 450/3 | €368 | €720 | +€352 | +95.7% |
| Other amounts payable | 47/48 | €8,553 | €52,133 | +€43,580 | +510% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,474 | €15,892 | -€581 | -3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,429 | €2,009 | +€579 | +40.5% |
| Non-recurring operating charges | 66A | €0 | €1,254 | +€1,254 | |
| Gross operating margin | 9900 | €72,726 | €32,855 | -€39,871 | -54.8% |
| Operating profit (loss) | 9901 | €54,823 | €13,699 | -€41,123 | -75.0% |
| Financial income | 75/76B | €293 | €783 | +€490 | +167% |
| Recurring financial income | 75 | €293 | €783 | +€490 | +167% |
| Financial charges | 65/66B | €1,653 | €901 | -€752 | -45.5% |
| Recurring financial charges | 65 | €1,653 | €901 | -€752 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | €53,462 | €13,581 | -€39,882 | -74.6% |
| Income taxes | 67/77 | €17,787 | €4,139 | -€13,648 | -76.7% |
| Profit (loss) for the period | 9904 | €35,676 | €9,442 | -€26,234 | -73.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,676 | €9,442 | -€26,234 | -73.5% |
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 16 October 2026 via checked.be.