MARHABAN GROUP: 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.
MARHABAN GROUP
Largest movements
- Receivables within one year -€17,900
down €17,900 (-53.9%), from €33,223 to €15,323
of which Other amounts receivable: -€18,383
- Cash +€7,604
up €7,604 (+655%), from €1,160 to €8,764
mainly Receivables within one year (+€17,900) and Net result for the year (+€13,119)
- Tangible fixed assets -€3,167
down €3,167 (-37.1%), from €8,527 to €5,359
- Stocks and contracts -€2,050
down €2,050 (-82.0%), from €2,500 to €450
- Tax, wage and social debts -€31,945
down €31,945 (-63.1%), from €50,607 to €18,661
of which Remuneration and social security: -€36,959
- Profit (loss) carried forward +€13,119
up €13,119 (+53.7%), from -€24,445 to -€11,326
- Trade debts +€2,227
up €2,227 (+35.5%), from €6,273 to €8,500
- Contributions +€1,200
up €1,200 (+9.2%), from €13,025 to €14,225
- Turnover -€14,364
down €14,364 (-9.6%), from €149,274 to €134,909
- Purchases and services -€11,615
down €11,615 (-12.3%), from €94,773 to €83,158
- Staff costs +€5,173
up €5,173 (+21.9%), from €23,647 to €28,820
- Taxes +€3,029
up €3,029 (+207%), from €1,460 to €4,489
- Gross operating margin -€2,750
down €2,750 (-5.0%), from €54,501 to €51,751
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 | €45,460 | €30,061 | -€15,399 | -33.9% |
| Fixed assets | 21/28 | €8,577 | €5,409 | -€3,167 | -36.9% |
| Tangible fixed assets | 22/27 | €8,527 | €5,359 | -€3,167 | -37.1% |
| Furniture and vehicles | 24 | €8,527 | €5,359 | -€3,167 | -37.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €36,883 | €24,651 | -€12,232 | -33.2% |
| Stocks and contracts in progress | 3 | €2,500 | €450 | -€2,050 | -82.0% |
| Stocks | 30/36 | €2,500 | €450 | -€2,050 | -82.0% |
| Amounts receivable within one year | 40/41 | €33,223 | €15,323 | -€17,900 | -53.9% |
| Trade receivables | 40 | €9,087 | €9,570 | +€483 | +5.3% |
| Other amounts receivable | 41 | €24,136 | €5,752 | -€18,383 | -76.2% |
| Cash at bank and in hand | 54/58 | €1,160 | €8,764 | +€7,604 | +655% |
| Deferred charges and accrued income | 490/1 | - | €114 | +€114 | |
| Total equity and liabilities | 10/49 | €45,460 | €30,061 | -€15,399 | -33.9% |
| Equity | 10/15 | -€11,420 | €2,899 | +€14,319 | |
| Contributions | 10/11 | €13,025 | €14,225 | +€1,200 | +9.2% |
| Profit (loss) carried forward | 14 | -€24,445 | -€11,326 | +€13,119 | +53.7% |
| Amounts payable | 17/49 | €56,880 | €27,162 | -€29,718 | -52.2% |
| Amounts payable within one year | 42/48 | €56,880 | €27,162 | -€29,718 | -52.2% |
| Trade debts | 44 | €6,273 | €8,500 | +€2,227 | +35.5% |
| Suppliers | 440/4 | €6,273 | €8,500 | +€2,227 | +35.5% |
| Taxes, remuneration and social security | 45 | €50,607 | €18,661 | -€31,945 | -63.1% |
| Taxes | 450/3 | €7,001 | €12,015 | +€5,014 | +71.6% |
| Remuneration and social security | 454/9 | €43,606 | €6,647 | -€36,959 | -84.8% |
| Turnover | 70 | €149,274 | €134,909 | -€14,364 | -9.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €94,773 | €83,158 | -€11,615 | -12.3% |
| Remuneration, social security and pensions | 62 | €23,647 | €28,820 | +€5,173 | +21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,115 | €3,167 | +€1,052 | +49.7% |
| Other operating charges | 640/8 | €2,571 | €2,980 | +€409 | +15.9% |
| Gross operating margin | 9900 | €54,501 | €51,751 | -€2,750 | -5.0% |
| Operating profit (loss) | 9901 | €26,168 | €16,784 | -€9,384 | -35.9% |
| Financial income | 75/76B | €714 | €936 | +€222 | +31.0% |
| Recurring financial income | 75 | €714 | €936 | +€222 | +31.0% |
| Financial charges | 65/66B | €108 | €113 | +€4 | +4.0% |
| Recurring financial charges | 65 | €108 | €113 | +€4 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €26,774 | €17,607 | -€9,167 | -34.2% |
| Income taxes | 67/77 | €1,460 | €4,489 | +€3,029 | +207% |
| Profit (loss) for the period | 9904 | €25,314 | €13,119 | -€12,195 | -48.2% |
| Profit (loss) for the period to be appropriated | 9905 | €25,314 | €13,119 | -€12,195 | -48.2% |
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 29 October 2026 via checked.be.