Marelot: 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.
Marelot
Largest movements
- Current investments +€50,000
up €50,000 (+100%), from €50,000 to €100,000
- Cash -€36,333
down €36,333 (-42.5%), from €85,441 to €49,108
mainly Current investments (-€50,000) and Tax, wage and social debts (-€22,974)
- Tangible fixed assets -€10,504
down €10,504 (-25.9%), from €40,482 to €29,978
of which Furniture and vehicles: -€10,021
- Receivables after one year +€6,114
new in 2025: €6,114
- Reserves +€32,846
up €32,846 (+24.5%), from €134,026 to €166,872
- Tax, wage and social debts -€22,974
down €22,974 (-54.5%), from €42,141 to €19,167
- Gross operating margin -€20,370
down €20,370 (-26.5%), from €76,896 to €56,527
- Taxes -€5,647
down €5,647 (-30.5%), from €18,500 to €12,854
- Financial income -€1,358
down €1,358 (-79.4%), from €1,711 to €353
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 | €179,356 | €188,772 | +€9,416 | +5.3% |
| Fixed assets | 21/28 | €40,482 | €29,978 | -€10,504 | -25.9% |
| Tangible fixed assets | 22/27 | €40,482 | €29,978 | -€10,504 | -25.9% |
| Plant, machinery and equipment | 23 | €1,844 | €1,361 | -€482 | -26.2% |
| Furniture and vehicles | 24 | €38,638 | €28,617 | -€10,021 | -25.9% |
| Current assets | 29/58 | €138,874 | €158,793 | +€19,920 | +14.3% |
| Amounts receivable after more than one year | 29 | - | €6,114 | +€6,114 | |
| Other amounts receivable | 291 | - | €6,114 | +€6,114 | |
| Current investments | 50/53 | €50,000 | €100,000 | +€50,000 | +100% |
| Cash at bank and in hand | 54/58 | €85,441 | €49,108 | -€36,333 | -42.5% |
| Deferred charges and accrued income | 490/1 | €3,433 | €3,571 | +€138 | +4.0% |
| Total equity and liabilities | 10/49 | €179,356 | €188,772 | +€9,416 | +5.3% |
| Equity | 10/15 | €136,526 | €169,372 | +€32,846 | +24.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €134,026 | €166,872 | +€32,846 | +24.5% |
| Distributable reserves | 133 | €134,026 | €166,872 | +€32,846 | +24.5% |
| Amounts payable | 17/49 | €42,829 | €19,400 | -€23,430 | -54.7% |
| Amounts payable within one year | 42/48 | €42,829 | €19,400 | -€23,430 | -54.7% |
| Trade debts | 44 | - | €233 | +€233 | |
| Suppliers | 440/4 | - | €233 | +€233 | |
| Taxes, remuneration and social security | 45 | €42,141 | €19,167 | -€22,974 | -54.5% |
| Taxes | 450/3 | €42,141 | €19,167 | -€22,974 | -54.5% |
| Other amounts payable | 47/48 | €688 | - | -€688 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,160 | €10,504 | -€656 | -5.9% |
| Other operating charges | 640/8 | €589 | €527 | -€62 | -10.5% |
| Gross operating margin | 9900 | €76,896 | €56,527 | -€20,370 | -26.5% |
| Operating profit (loss) | 9901 | €65,148 | €45,496 | -€19,651 | -30.2% |
| Financial income | 75/76B | €1,711 | €353 | -€1,358 | -79.4% |
| Recurring financial income | 75 | €1,711 | €353 | -€1,358 | -79.4% |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €66,724 | €45,699 | -€21,025 | -31.5% |
| Income taxes | 67/77 | €18,500 | €12,854 | -€5,647 | -30.5% |
| Profit (loss) for the period | 9904 | €48,224 | €32,846 | -€15,378 | -31.9% |
| Profit (loss) for the period to be appropriated | 9905 | €48,224 | €32,846 | -€15,378 | -31.9% |
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.