Marella: 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.
Marella
Largest movements
- Stocks and contracts +€150,066
up €150,066 (+71.2%), from €210,845 to €360,911
- Receivables within one year -€140,324
down €140,324 (-58.8%), from €238,626 to €98,302
of which Other amounts receivable: -€209,936
- Cash +€5,378
up €5,378 (+13.2%), from €40,683 to €46,061
mainly Receivables within one year (+€140,324) and Trade debts (+€15,371)
- Short-term financial debts -€25,000
no longer reported in 2025 (was €25,000)
- Trade debts +€15,371
new in 2025: €15,371
- Other debts +€10,322
up €10,322 (+2.7%), from €381,965 to €392,288
- Reserves +€6,325
up €6,325 (+17.7%), from €35,758 to €42,083
of which Distributable reserves: +€6,325
- Tax, wage and social debts +€5,442
up €5,442 (+10.5%), from €52,015 to €57,457
of which Taxes: +€4,732
- Staff costs +€31,656
up €31,656 (+96.5%), from €32,820 to €64,477
- Gross operating margin +€27,420
up €27,420 (+53.6%), from €51,181 to €78,601
- Other operating charges -€1,259
down €1,259 (-91.4%), from €1,377 to €118
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 | €496,738 | €509,198 | +€12,461 | +2.5% |
| Fixed assets | 21/28 | €6,471 | €3,680 | -€2,790 | -43.1% |
| Tangible fixed assets | 22/27 | €6,471 | €3,680 | -€2,790 | -43.1% |
| Plant, machinery and equipment | 23 | €1,790 | €0 | -€1,790 | -100% |
| Furniture and vehicles | 24 | €4,680 | €3,680 | -€1,000 | -21.4% |
| Current assets | 29/58 | €490,267 | €505,518 | +€15,251 | +3.1% |
| Stocks and contracts in progress | 3 | €210,845 | €360,911 | +€150,066 | +71.2% |
| Stocks | 30/36 | €210,845 | €360,911 | +€150,066 | +71.2% |
| Amounts receivable within one year | 40/41 | €238,626 | €98,302 | -€140,324 | -58.8% |
| Trade receivables | 40 | €28,691 | €98,302 | +€69,612 | +243% |
| Other amounts receivable | 41 | €209,936 | - | -€209,936 | |
| Cash at bank and in hand | 54/58 | €40,683 | €46,061 | +€5,378 | +13.2% |
| Deferred charges and accrued income | 490/1 | €113 | €243 | +€131 | +116% |
| Total equity and liabilities | 10/49 | €496,738 | €509,198 | +€12,461 | +2.5% |
| Equity | 10/15 | €37,758 | €44,083 | +€6,325 | +16.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €35,758 | €42,083 | +€6,325 | +17.7% |
| Non-distributable reserves | 130/1 | €1,375 | €1,375 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,375 | €1,375 | = | 0.0% |
| Distributable reserves | 133 | €34,382 | €40,707 | +€6,325 | +18.4% |
| Amounts payable | 17/49 | €458,980 | €465,116 | +€6,136 | +1.3% |
| Amounts payable within one year | 42/48 | €458,980 | €465,116 | +€6,136 | +1.3% |
| Financial debts | 43 | €25,000 | - | -€25,000 | |
| Credit institutions | 430/8 | €25,000 | - | -€25,000 | |
| Trade debts | 44 | - | €15,371 | +€15,371 | |
| Suppliers | 440/4 | - | €15,371 | +€15,371 | |
| Taxes, remuneration and social security | 45 | €52,015 | €57,457 | +€5,442 | +10.5% |
| Taxes | 450/3 | €45,529 | €50,261 | +€4,732 | +10.4% |
| Remuneration and social security | 454/9 | €6,486 | €7,196 | +€710 | +11.0% |
| Other amounts payable | 47/48 | €381,965 | €392,288 | +€10,322 | +2.7% |
| Remuneration, social security and pensions | 62 | €32,820 | €64,477 | +€31,656 | +96.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,115 | €2,790 | +€675 | +31.9% |
| Other operating charges | 640/8 | €1,377 | €118 | -€1,259 | -91.4% |
| Gross operating margin | 9900 | €51,181 | €78,601 | +€27,420 | +53.6% |
| Operating profit (loss) | 9901 | €14,869 | €11,216 | -€3,653 | -24.6% |
| Financial income | 75/76B | €4 | €82 | +€78 | +2,165% |
| Recurring financial income | 75 | €4 | €82 | +€78 | +2,165% |
| Financial charges | 65/66B | €2,960 | €2,232 | -€728 | -24.6% |
| Recurring financial charges | 65 | €2,960 | €2,232 | -€728 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €11,912 | €9,065 | -€2,847 | -23.9% |
| Income taxes | 67/77 | €3,332 | €2,740 | -€592 | -17.8% |
| Profit (loss) for the period | 9904 | €8,580 | €6,325 | -€2,255 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,580 | €6,325 | -€2,255 | -26.3% |
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 20 October 2026 via checked.be.