MARASA: 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.
MARASA
Largest movements
- Receivables within one year +€11,397
up €11,397 (+346%), from €3,298 to €14,695
of which Other amounts receivable: +€10,897
- Tangible fixed assets -€5,271
down €5,271 (-22.6%), from €23,279 to €18,008
- Cash -€1,855
down €1,855 (-13.4%), from €13,895 to €12,040
mainly Receivables within one year (-€11,397) and Other debts (-€4,950)
- Profit (loss) carried forward +€8,563
up €8,563 (+4.1%), from -€207,534 to -€198,971
- Other debts -€4,950
down €4,950 (-2.7%), from €183,196 to €178,246
- Trade debts +€658
up €658 (+29.3%), from €2,246 to €2,904
- Gross operating margin -€5,946
down €5,946 (-25.8%), from €23,077 to €17,131
- Depreciation +€2,196
up €2,196 (+71.4%), from €3,075 to €5,271
- Financial charges -€580
down €580 (-82.4%), from €704 to €124
- Other operating charges -€241
down €241 (-6.9%), from €3,468 to €3,227
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 | €40,472 | €44,743 | +€4,271 | +10.6% |
| Fixed assets | 21/28 | €23,279 | €18,008 | -€5,271 | -22.6% |
| Tangible fixed assets | 22/27 | €23,279 | €18,008 | -€5,271 | -22.6% |
| Furniture and vehicles | 24 | €23,279 | €18,008 | -€5,271 | -22.6% |
| Current assets | 29/58 | €17,193 | €26,735 | +€9,542 | +55.5% |
| Amounts receivable within one year | 40/41 | €3,298 | €14,695 | +€11,397 | +346% |
| Trade receivables | 40 | €300 | €800 | +€500 | +167% |
| Other amounts receivable | 41 | €2,998 | €13,895 | +€10,897 | +363% |
| Cash at bank and in hand | 54/58 | €13,895 | €12,040 | -€1,855 | -13.4% |
| Total equity and liabilities | 10/49 | €40,472 | €44,743 | +€4,271 | +10.6% |
| Equity | 10/15 | -€144,970 | -€136,407 | +€8,563 | +5.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €564 | €564 | = | 0.0% |
| Distributable reserves | 133 | €564 | €564 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€207,534 | -€198,971 | +€8,563 | +4.1% |
| Amounts payable | 17/49 | €185,442 | €181,150 | -€4,292 | -2.3% |
| Amounts payable within one year | 42/48 | €185,442 | €181,150 | -€4,292 | -2.3% |
| Trade debts | 44 | €2,246 | €2,904 | +€658 | +29.3% |
| Suppliers | 440/4 | €2,246 | €2,904 | +€658 | +29.3% |
| Other amounts payable | 47/48 | €183,196 | €178,246 | -€4,950 | -2.7% |
| Non-recurring operating income | 76A | €5,936 | - | -€5,936 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,075 | €5,271 | +€2,196 | +71.4% |
| Other operating charges | 640/8 | €3,468 | €3,227 | -€241 | -6.9% |
| Gross operating margin | 9900 | €23,077 | €17,131 | -€5,946 | -25.8% |
| Operating profit (loss) | 9901 | €16,534 | €8,633 | -€7,901 | -47.8% |
| Financial income | 75/76B | €202 | €54 | -€148 | -73.3% |
| Recurring financial income | 75 | €202 | €54 | -€148 | -73.3% |
| Financial charges | 65/66B | €704 | €124 | -€580 | -82.4% |
| Recurring financial charges | 65 | €704 | €124 | -€580 | -82.4% |
| Profit (loss) for the period before taxes | 9903 | €16,032 | €8,563 | -€7,469 | -46.6% |
| Profit (loss) for the period | 9904 | €16,032 | €8,563 | -€7,469 | -46.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,032 | €8,563 | -€7,469 | -46.6% |
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 14 October 2026 via checked.be.