Mardo Exploitatie: 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.
Mardo Exploitatie
Largest movements
- Receivables within one year +€20,319
up €20,319 (+461.8%), from €4,400 to €24,720
- Cash +€3,240
up €3,240 (+392.2%), from €826 to €4,066
mainly Other debts (+€16,361) and Tax, wage and social debts (+€5,205)
- Tangible fixed assets -€306
down €306 (-50.0%), from €613 to €306
- Other debts +€16,361
up €16,361 (+21.3%), from €76,896 to €93,257
- Tax, wage and social debts +€5,205
up €5,205 (+32.9%), from €15,843 to €21,048
of which Remuneration and social security: +€3,685
- Trade debts +€3,671
up €3,671 (+1800.8%), from €204 to €3,875
- Profit (loss) carried forward -€1,984
down €1,984 (-2.0%), from -€99,504 to -€101,488
- Gross operating margin +€93,088
up €93,088 (+195.2%), from €47,690 to €140,779
- Staff costs +€37,263
up €37,263 (+36.1%), from €103,237 to €140,500
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 | €5,839 | €29,092 | +€23,253 | +398.2% |
| Fixed assets | 21/28 | €613 | €306 | -€306 | -50.0% |
| Tangible fixed assets | 22/27 | €613 | €306 | -€306 | -50.0% |
| Furniture and vehicles | 24 | €613 | €306 | -€306 | -50.0% |
| Current assets | 29/58 | €5,227 | €28,786 | +€23,559 | +450.8% |
| Amounts receivable within one year | 40/41 | €4,400 | €24,720 | +€20,319 | +461.8% |
| Trade receivables | 40 | €4,400 | €24,720 | +€20,319 | +461.8% |
| Cash at bank and in hand | 54/58 | €826 | €4,066 | +€3,240 | +392.2% |
| Total equity and liabilities | 10/49 | €5,839 | €29,092 | +€23,253 | +398.2% |
| Equity | 10/15 | -€87,104 | -€89,088 | -€1,984 | -2.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€99,504 | -€101,488 | -€1,984 | -2.0% |
| Amounts payable | 17/49 | €92,943 | €118,180 | +€25,237 | +27.2% |
| Amounts payable within one year | 42/48 | €92,943 | €118,180 | +€25,237 | +27.2% |
| Trade debts | 44 | €204 | €3,875 | +€3,671 | +1800.8% |
| Suppliers | 440/4 | €204 | €3,875 | +€3,671 | +1800.8% |
| Taxes, remuneration and social security | 45 | €15,843 | €21,048 | +€5,205 | +32.9% |
| Taxes | 450/3 | €4,669 | €6,188 | +€1,519 | +32.5% |
| Remuneration and social security | 454/9 | €11,174 | €14,860 | +€3,685 | +33.0% |
| Other amounts payable | 47/48 | €76,896 | €93,257 | +€16,361 | +21.3% |
| Remuneration, social security and pensions | 62 | €103,237 | €140,500 | +€37,263 | +36.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €306 | €306 | -€0 | 0.0% |
| Gross operating margin | 9900 | €47,690 | €140,779 | +€93,088 | +195.2% |
| Operating profit (loss) | 9901 | -€55,853 | -€28 | +€55,825 | +100.0% |
| Financial charges | 65/66B | €1,036 | €1,361 | +€325 | +31.4% |
| Recurring financial charges | 65 | €1,036 | €1,361 | +€325 | +31.4% |
| Profit (loss) for the period before taxes | 9903 | -€56,889 | -€1,389 | +€55,500 | +97.6% |
| Income taxes | 67/77 | €612 | €595 | -€17 | -2.7% |
| Profit (loss) for the period | 9904 | -€57,500 | -€1,984 | +€55,516 | +96.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€57,500 | -€1,984 | +€55,516 | +96.5% |
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 4 October 2026 via checked.be.