MARDOUNI: what changed
MARDOUNI
Largest movements
- Cash -€3,452
down €3,452 (-47.7%), from €7,234 to €3,782
mainly Net result for the year (-€5,297) and Trade debts (-€685)
- Receivables within one year -€1,973
down €1,973 (-87.6%), from €2,252 to €279
of which Other amounts receivable: -€1,969
- Tangible fixed assets -€190
no longer reported in 2025 (was €190)
- Profit (loss) carried forward -€5,297
down €5,297 (-37.1%), from -€14,293 to -€19,590
- Trade debts -€685
down €685 (-48.7%), from €1,407 to €721
- Tax, wage and social debts +€367
up €367 (+1,109%), from €33 to €400
- Gross operating margin -€3,917
down €3,917 (-735%), from -€533 to -€4,450
- Other operating charges +€114
up €114 (+22.9%), from €500 to €615
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,493 | €5,878 | -€5,615 | -48.9% |
| Fixed assets | 21/28 | €1,990 | €1,800 | -€190 | -9.5% |
| Tangible fixed assets | 22/27 | €190 | - | -€190 | |
| Other tangible fixed assets | 26 | €190 | - | -€190 | |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €9,503 | €4,078 | -€5,425 | -57.1% |
| Amounts receivable within one year | 40/41 | €2,252 | €279 | -€1,973 | -87.6% |
| Trade receivables | 40 | €247 | €244 | -€3 | -1.4% |
| Other amounts receivable | 41 | €2,005 | €35 | -€1,969 | -98.2% |
| Cash at bank and in hand | 54/58 | €7,234 | €3,782 | -€3,452 | -47.7% |
| Deferred charges and accrued income | 490/1 | €16 | €16 | = | 0.0% |
| Total equity and liabilities | 10/49 | €11,493 | €5,878 | -€5,615 | -48.9% |
| Equity | 10/15 | €6,567 | €1,270 | -€5,297 | -80.7% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Contributions outside capital | 11 | €19,000 | €19,000 | = | 0.0% |
| Other | 1109/19 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,293 | -€19,590 | -€5,297 | -37.1% |
| Amounts payable | 17/49 | €4,926 | €4,608 | -€318 | -6.5% |
| Amounts payable within one year | 42/48 | €4,926 | €4,608 | -€318 | -6.5% |
| Trade debts | 44 | €1,407 | €721 | -€685 | -48.7% |
| Suppliers | 440/4 | €1,407 | €721 | -€685 | -48.7% |
| Taxes, remuneration and social security | 45 | €33 | €400 | +€367 | +1,109% |
| Taxes | 450/3 | €33 | €400 | +€367 | +1,109% |
| Other amounts payable | 47/48 | €3,486 | €3,486 | = | 0.0% |
| Non-recurring operating income | 76A | €82 | - | -€82 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €190 | €190 | = | 0.0% |
| Other operating charges | 640/8 | €500 | €615 | +€114 | +22.9% |
| Non-recurring operating charges | 66A | €2,507 | - | -€2,507 | |
| Gross operating margin | 9900 | -€533 | -€4,450 | -€3,917 | -735% |
| Operating profit (loss) | 9901 | -€3,731 | -€5,255 | -€1,524 | -40.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €52 | €42 | -€10 | -19.0% |
| Recurring financial charges | 65 | €52 | €42 | -€10 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,783 | -€5,297 | -€1,514 | -40.0% |
| Profit (loss) for the period | 9904 | -€3,783 | -€5,297 | -€1,514 | -40.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,783 | -€5,297 | -€1,514 | -40.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.