Marelias: 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.
Marelias
Largest movements
- Receivables within one year +€59,482
up €59,482 (+43.9%), from €135,576 to €195,057
of which Trade receivables: +€59,482
- Tangible fixed assets -€16,998
down €16,998 (-12.0%), from €141,754 to €124,756
of which Furniture and vehicles: -€11,641
- Trade debts +€37,709
up €37,709 (+109%), from €34,689 to €72,398
- Current portion of long-term debt +€11,163
up €11,163 (+128%), from €8,750 to €19,913
- Other debts -€5,560
down €5,560 (-23.2%), from €23,919 to €18,359
- Tax, wage and social debts -€5,316
down €5,316 (-4.7%), from €112,434 to €107,119
of which Taxes: -€9,800
- Profit (loss) carried forward +€4,686
up €4,686 (+5.9%), from €79,423 to €84,109
- Gross operating margin +€50,870
up €50,870 (+11.6%), from €438,746 to €489,616
- Staff costs +€37,716
up €37,716 (+10.2%), from €369,216 to €406,932
- Other operating charges +€15,231
up €15,231 (+224%), from €6,809 to €22,040
- Taxes +€13,976
new in 2025: €13,976
- Depreciation +€12,758
up €12,758 (+46.0%), from €27,753 to €40,511
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 | €308,286 | €350,968 | +€42,682 | +13.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €141,754 | €124,756 | -€16,998 | -12.0% |
| Tangible fixed assets | 22/27 | €141,754 | €124,756 | -€16,998 | -12.0% |
| Land and buildings | 22 | €17,490 | €21,524 | +€4,035 | +23.1% |
| Plant, machinery and equipment | 23 | €69,689 | €60,297 | -€9,392 | -13.5% |
| Furniture and vehicles | 24 | €54,575 | €42,934 | -€11,641 | -21.3% |
| Current assets | 29/58 | €166,532 | €226,212 | +€59,681 | +35.8% |
| Stocks and contracts in progress | 3 | €17,868 | €15,717 | -€2,150 | -12.0% |
| Stocks | 30/36 | €17,868 | €15,717 | -€2,150 | -12.0% |
| Amounts receivable within one year | 40/41 | €135,576 | €195,057 | +€59,482 | +43.9% |
| Trade receivables | 40 | €135,576 | €195,057 | +€59,482 | +43.9% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €13,088 | €15,438 | +€2,349 | +18.0% |
| Total equity and liabilities | 10/49 | €308,286 | €350,968 | +€42,682 | +13.8% |
| Equity | 10/15 | €128,493 | €133,179 | +€4,686 | +3.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €29,070 | €29,070 | = | 0.0% |
| Distributable reserves | 133 | €29,070 | €29,070 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,423 | €84,109 | +€4,686 | +5.9% |
| Amounts payable | 17/49 | €179,792 | €217,788 | +€37,996 | +21.1% |
| Amounts payable within one year | 42/48 | €179,792 | €217,788 | +€37,996 | +21.1% |
| Current portion of amounts payable after more than one year | 42 | €8,750 | €19,913 | +€11,163 | +128% |
| Trade debts | 44 | €34,689 | €72,398 | +€37,709 | +109% |
| Suppliers | 440/4 | €34,689 | €72,398 | +€37,709 | +109% |
| Taxes, remuneration and social security | 45 | €112,434 | €107,119 | -€5,316 | -4.7% |
| Taxes | 450/3 | €38,737 | €28,937 | -€9,800 | -25.3% |
| Remuneration and social security | 454/9 | €73,697 | €78,182 | +€4,485 | +6.1% |
| Other amounts payable | 47/48 | €23,919 | €18,359 | -€5,560 | -23.2% |
| Remuneration, social security and pensions | 62 | €369,216 | €406,932 | +€37,716 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,753 | €40,511 | +€12,758 | +46.0% |
| Other operating charges | 640/8 | €6,809 | €22,040 | +€15,231 | +224% |
| Gross operating margin | 9900 | €438,746 | €489,616 | +€50,870 | +11.6% |
| Operating profit (loss) | 9901 | €34,968 | €20,133 | -€14,835 | -42.4% |
| Financial charges | 65/66B | €1,536 | €1,471 | -€65 | -4.2% |
| Recurring financial charges | 65 | €1,536 | €1,471 | -€65 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €33,432 | €18,662 | -€14,769 | -44.2% |
| Income taxes | 67/77 | - | €13,976 | +€13,976 | |
| Profit (loss) for the period | 9904 | €33,432 | €4,686 | -€28,745 | -86.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,432 | €4,686 | -€28,745 | -86.0% |
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 17 October 2026 via checked.be.