MARENGO: 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.
MARENGO
Largest movements
- Cash +€28,213
up €28,213 (+428%), from €6,595 to €34,808
mainly Net result for the year (+€56,647) and Tax, wage and social debts (+€13,639)
- Receivables within one year -€1,893
down €1,893 (-98.3%), from €1,926 to €33
of which Trade receivables: -€1,906
- Profit (loss) carried forward +€56,647
up €56,647 (+94.2%), from -€60,109 to -€3,462
- Other debts -€44,111
no longer reported in 2025 (was €44,111)
- Tax, wage and social debts +€13,639
up €13,639 (+431%), from €3,163 to €16,803
- Advances received +€1,500
new in 2025: €1,500
- Trade debts -€968
no longer reported in 2025 (was €968)
- Gross operating margin +€37,821
up €37,821 (+155%), from €24,418 to €62,239
- Taxes +€4,877
new in 2025: €4,877
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 | €8,521 | €34,841 | +€26,320 | +309% |
| Formation expenses | 20 | €0 | €0 | = | |
| Current assets | 29/58 | €8,521 | €34,841 | +€26,320 | +309% |
| Amounts receivable within one year | 40/41 | €1,926 | €33 | -€1,893 | -98.3% |
| Trade receivables | 40 | €1,906 | - | -€1,906 | |
| Other amounts receivable | 41 | €20 | €33 | +€13 | +62.5% |
| Cash at bank and in hand | 54/58 | €6,595 | €34,808 | +€28,213 | +428% |
| Total equity and liabilities | 10/49 | €8,521 | €34,841 | +€26,320 | +309% |
| Equity | 10/15 | -€40,109 | €16,538 | +€56,647 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,109 | -€3,462 | +€56,647 | +94.2% |
| Amounts payable | 17/49 | €48,630 | €18,303 | -€30,327 | -62.4% |
| Amounts payable within one year | 42/48 | €48,242 | €18,303 | -€29,940 | -62.1% |
| Trade debts | 44 | €968 | - | -€968 | |
| Suppliers | 440/4 | €968 | - | -€968 | |
| Advances received on contracts in progress | 46 | - | €1,500 | +€1,500 | |
| Taxes, remuneration and social security | 45 | €3,163 | €16,803 | +€13,639 | +431% |
| Taxes | 450/3 | €3,163 | €16,803 | +€13,639 | +431% |
| Other amounts payable | 47/48 | €44,111 | - | -€44,111 | |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Other operating charges | 640/8 | €437 | €400 | -€38 | -8.6% |
| Gross operating margin | 9900 | €24,418 | €62,239 | +€37,821 | +155% |
| Operating profit (loss) | 9901 | €23,981 | €61,840 | +€37,859 | +158% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €246 | €316 | +€70 | +28.4% |
| Recurring financial charges | 65 | €246 | €316 | +€70 | +28.4% |
| Profit (loss) for the period before taxes | 9903 | €23,735 | €61,524 | +€37,788 | +159% |
| Income taxes | 67/77 | - | €4,877 | +€4,877 | |
| Profit (loss) for the period | 9904 | €23,735 | €56,647 | +€32,912 | +139% |
| Profit (loss) for the period to be appropriated | 9905 | €23,735 | €56,647 | +€32,912 | +139% |
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 15 October 2026 via checked.be.