MARELI CONCEPT: 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.
MARELI CONCEPT
Largest movements
- Cash +€100,616
up €100,616 (+60.7%), from €165,783 to €266,399
mainly Net result for the year (+€98,324) and Accrued charges and deferred income (+€44,111)
- Tangible fixed assets +€34,887
up €34,887 (+122.3%), from €28,514 to €63,401
of which Leasing and similar rights: +€34,483
- Stocks and contracts +€25,630
new in 2025: €25,630
- Receivables within one year +€19,434
up €19,434 (+109.5%), from €17,743 to €37,177
of which Other amounts receivable: +€33,085
- Reserves +€98,324
up €98,324 (+84.3%), from €116,627 to €214,951
- Accrued charges and deferred income +€44,111
new in 2025: €44,111
- Debts after one year +€19,152
new in 2025: €19,152
- Tax, wage and social debts +€8,138
up €8,138 (+14.0%), from €58,176 to €66,314
- Current portion of long-term debt +€5,116
new in 2025: €5,116
- Taxes -€12,067
down €12,067 (-31.0%), from €38,933 to €26,866
- Depreciation +€7,764
up €7,764 (+715.2%), from €1,086 to €8,849
- Gross operating margin +€2,107
up €2,107 (+1.6%), from €135,228 to €137,335
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 | €218,170 | €399,792 | +€181,622 | +83.2% |
| Fixed assets | 21/28 | €31,014 | €65,901 | +€34,887 | +112.5% |
| Tangible fixed assets | 22/27 | €28,514 | €63,401 | +€34,887 | +122.3% |
| Furniture and vehicles | 24 | €21,905 | €21,132 | -€774 | -3.5% |
| Leasing and similar rights | 25 | - | €34,483 | +€34,483 | |
| Other tangible fixed assets | 26 | €6,609 | €7,786 | +€1,177 | +17.8% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €187,155 | €333,891 | +€146,735 | +78.4% |
| Stocks and contracts in progress | 3 | - | €25,630 | +€25,630 | |
| Contracts in progress | 37 | - | €25,630 | +€25,630 | |
| Amounts receivable within one year | 40/41 | €17,743 | €37,177 | +€19,434 | +109.5% |
| Trade receivables | 40 | €14,360 | €709 | -€13,651 | -95.1% |
| Other amounts receivable | 41 | €3,383 | €36,468 | +€33,085 | +978.0% |
| Cash at bank and in hand | 54/58 | €165,783 | €266,399 | +€100,616 | +60.7% |
| Deferred charges and accrued income | 490/1 | €3,629 | €4,685 | +€1,056 | +29.1% |
| Total equity and liabilities | 10/49 | €218,170 | €399,792 | +€181,622 | +83.2% |
| Equity | 10/15 | €136,627 | €234,951 | +€98,324 | +72.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €116,627 | €214,951 | +€98,324 | +84.3% |
| Distributable reserves | 133 | €116,627 | €214,951 | +€98,324 | +84.3% |
| Amounts payable | 17/49 | €81,543 | €164,841 | +€83,298 | +102.2% |
| Amounts payable after more than one year | 17 | - | €19,152 | +€19,152 | |
| Financial debts | 170/4 | - | €19,152 | +€19,152 | |
| Amounts payable within one year | 42/48 | €81,543 | €101,578 | +€20,036 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | - | €5,116 | +€5,116 | |
| Trade debts | 44 | €21,772 | €24,399 | +€2,627 | +12.1% |
| Suppliers | 440/4 | €21,772 | €24,399 | +€2,627 | +12.1% |
| Taxes, remuneration and social security | 45 | €58,176 | €66,314 | +€8,138 | +14.0% |
| Taxes | 450/3 | €58,176 | €66,314 | +€8,138 | +14.0% |
| Other amounts payable | 47/48 | €1,595 | €5,749 | +€4,154 | +260.4% |
| Accrued charges and deferred income | 492/3 | - | €44,111 | +€44,111 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,086 | €8,849 | +€7,764 | +715.2% |
| Other operating charges | 640/8 | €879 | €1,306 | +€427 | +48.5% |
| Gross operating margin | 9900 | €135,228 | €137,335 | +€2,107 | +1.6% |
| Operating profit (loss) | 9901 | €133,263 | €127,179 | -€6,084 | -4.6% |
| Financial income | 75/76B | €0 | €1 | +€1 | +9000.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +9000.0% |
| Financial charges | 65/66B | €1,798 | €1,991 | +€193 | +10.7% |
| Recurring financial charges | 65 | €1,798 | €1,991 | +€193 | +10.7% |
| Profit (loss) for the period before taxes | 9903 | €131,465 | €125,189 | -€6,276 | -4.8% |
| Income taxes | 67/77 | €38,933 | €26,866 | -€12,067 | -31.0% |
| Profit (loss) for the period | 9904 | €92,533 | €98,324 | +€5,791 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €92,533 | €98,324 | +€5,791 | +6.3% |
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 10 October 2026 via checked.be.