MARBO: 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.
MARBO
Largest movements
- Receivables after one year +€70,000
new in 2025: €70,000
- Receivables within one year -€70,000
no longer reported in 2025 (was €70,000)
- Cash +€9,294
up €9,294 (+3.8%), from €243,461 to €252,755
mainly Receivables within one year (+€70,000) and Net result for the year (+€7,482)
- Profit (loss) carried forward +€7,482
up €7,482 (+17.1%), from €43,724 to €51,206
- Gross operating margin +€124
up €124 (+1.5%), from €8,064 to €8,188
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 | €675,444 | €684,738 | +€9,294 | +1.4% |
| Fixed assets | 21/28 | €356,483 | €356,483 | = | 0.0% |
| Tangible fixed assets | 22/27 | €356,483 | €356,483 | = | 0.0% |
| Land and buildings | 22 | €356,483 | €356,483 | = | 0.0% |
| Current assets | 29/58 | €318,961 | €328,255 | +€9,294 | +2.9% |
| Amounts receivable after more than one year | 29 | - | €70,000 | +€70,000 | |
| Other amounts receivable | 291 | - | €70,000 | +€70,000 | |
| Amounts receivable within one year | 40/41 | €70,000 | - | -€70,000 | |
| Other amounts receivable | 41 | €70,000 | - | -€70,000 | |
| Cash at bank and in hand | 54/58 | €243,461 | €252,755 | +€9,294 | +3.8% |
| Deferred charges and accrued income | 490/1 | €5,500 | €5,500 | = | 0.0% |
| Total equity and liabilities | 10/49 | €675,444 | €684,738 | +€9,294 | +1.4% |
| Equity | 10/15 | €303,724 | €311,206 | +€7,482 | +2.5% |
| Contributions | 10/11 | €260,000 | €260,000 | = | 0.0% |
| Capital | 10 | €260,000 | €260,000 | = | 0.0% |
| Issued capital | 100 | €260,000 | €260,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,724 | €51,206 | +€7,482 | +17.1% |
| Amounts payable | 17/49 | €371,720 | €373,532 | +€1,812 | +0.5% |
| Amounts payable within one year | 42/48 | €371,720 | €373,532 | +€1,812 | +0.5% |
| Trade debts | 44 | - | €1,812 | +€1,812 | |
| Suppliers | 440/4 | - | €1,812 | +€1,812 | |
| Other amounts payable | 47/48 | €371,720 | €371,720 | = | 0.0% |
| Other operating charges | 640/8 | €498 | €514 | +€16 | +3.2% |
| Gross operating margin | 9900 | €8,064 | €8,188 | +€124 | +1.5% |
| Operating profit (loss) | 9901 | €7,566 | €7,674 | +€108 | +1.4% |
| Financial charges | 65/66B | €188 | €192 | +€4 | +2.1% |
| Recurring financial charges | 65 | €188 | €192 | +€4 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €7,378 | €7,482 | +€104 | +1.4% |
| Profit (loss) for the period | 9904 | €7,378 | €7,482 | +€104 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,378 | €7,482 | +€104 | +1.4% |
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 29 September 2026 via checked.be.