MARIBO: what changed
Two fiscal 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.
MARIBO
Largest movements
- Current investments -€151,500
down €151,500 (-100.0%), from €151,500 to €0
- Tangible fixed assets +€91,491
up €91,491 (+12.6%), from €727,652 to €819,143
of which Land and buildings: +€517,819
- Cash +€89,014
up €89,014 (+227.4%), from €39,137 to €128,151
mainly Current investments (+€151,500) and Other debts (+€60,713)
- Other debts +€60,713
up €60,713 (+32.9%), from €184,610 to €245,323
- Debts after one year +€36,921
up €36,921 (+9.2%), from €401,889 to €438,810
- Reserves -€35,597
down €35,597 (-27.4%), from €130,008 to €94,411
of which Distributable reserves: -€35,597
- Profit (loss) carried forward -€28,487
new in 2025: -€28,487
- Gross operating margin -€12,356
down €12,356 (-18.2%), from €67,795 to €55,439
- Depreciation +€12,080
up €12,080 (+32.1%), from €37,598 to €49,679
- Financial charges +€9,977
up €9,977 (+45.3%), from €22,014 to €31,991
- Taxes -€2,187
down €2,187 (-83.3%), from €2,627 to €440
- Financial income -€890
down €890 (-33.3%), from €2,673 to €1,782
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.
Cash bridge derived
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 | €928,665 | €953,329 | +€24,664 | +2.7% |
| Fixed assets | 21/28 | €727,652 | €819,143 | +€91,491 | +12.6% |
| Tangible fixed assets | 22/27 | €727,652 | €819,143 | +€91,491 | +12.6% |
| Land and buildings | 22 | €282,237 | €800,056 | +€517,819 | +183.5% |
| Plant, machinery and equipment | 23 | €1,593 | €1,068 | -€525 | -33.0% |
| Furniture and vehicles | 24 | €4,976 | €18,019 | +€13,043 | +262.1% |
| Assets under construction and advance payments | 27 | €438,846 | €0 | -€438,846 | -100.0% |
| Current assets | 29/58 | €201,013 | €134,186 | -€66,826 | -33.2% |
| Amounts receivable within one year | 40/41 | €599 | €154 | -€445 | -74.3% |
| Trade receivables | 40 | - | €59 | +€59 | |
| Other amounts receivable | 41 | €599 | €95 | -€504 | -84.1% |
| Current investments | 50/53 | €151,500 | €0 | -€151,500 | -100.0% |
| Cash at bank and in hand | 54/58 | €39,137 | €128,151 | +€89,014 | +227.4% |
| Deferred charges and accrued income | 490/1 | €9,777 | €5,881 | -€3,896 | -39.8% |
| Total equity and liabilities | 10/49 | €928,665 | €953,329 | +€24,664 | +2.7% |
| Equity | 10/15 | €299,508 | €235,424 | -€64,084 | -21.4% |
| Contributions | 10/11 | €169,500 | €169,500 | = | 0.0% |
| Capital | 10 | €169,500 | €169,500 | = | 0.0% |
| Issued capital | 100 | €169,500 | €169,500 | = | 0.0% |
| Reserves | 13 | €130,008 | €94,411 | -€35,597 | -27.4% |
| Non-distributable reserves | 130/1 | €11,833 | €11,833 | = | 0.0% |
| Legal reserve | 130 | €11,833 | €11,833 | = | 0.0% |
| Distributable reserves | 133 | €118,175 | €82,578 | -€35,597 | -30.1% |
| Profit (loss) carried forward | 14 | - | -€28,487 | -€28,487 | |
| Amounts payable | 17/49 | €629,157 | €717,905 | +€88,749 | +14.1% |
| Amounts payable after more than one year | 17 | €401,889 | €438,810 | +€36,921 | +9.2% |
| Financial debts | 170/4 | €401,889 | €438,810 | +€36,921 | +9.2% |
| Amounts payable within one year | 42/48 | €227,099 | €279,095 | +€51,995 | +22.9% |
| Current portion of amounts payable after more than one year | 42 | €23,959 | €25,556 | +€1,597 | +6.7% |
| Trade debts | 44 | €5,767 | €525 | -€5,242 | -90.9% |
| Suppliers | 440/4 | €5,767 | €525 | -€5,242 | -90.9% |
| Taxes, remuneration and social security | 45 | €12,764 | €7,691 | -€5,073 | -39.7% |
| Taxes | 450/3 | €8,498 | €7,691 | -€807 | -9.5% |
| Remuneration and social security | 454/9 | €4,266 | €0 | -€4,266 | -100.0% |
| Other amounts payable | 47/48 | €184,610 | €245,323 | +€60,713 | +32.9% |
| Accrued charges and deferred income | 492/3 | €168 | €0 | -€168 | -100.0% |
| Non-recurring operating income | 76A | - | €87 | +€87 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,598 | €49,679 | +€12,080 | +32.1% |
| Other operating charges | 640/8 | €3,699 | €3,600 | -€99 | -2.7% |
| Gross operating margin | 9900 | €67,795 | €55,439 | -€12,356 | -18.2% |
| Operating profit (loss) | 9901 | €26,497 | €2,161 | -€24,337 | -91.8% |
| Financial income | 75/76B | €2,673 | €1,782 | -€890 | -33.3% |
| Recurring financial income | 75 | €2,673 | €1,782 | -€890 | -33.3% |
| Financial charges | 65/66B | €22,014 | €31,991 | +€9,977 | +45.3% |
| Recurring financial charges | 65 | €22,014 | €31,991 | +€9,977 | +45.3% |
| Profit (loss) for the period before taxes | 9903 | €7,156 | -€28,048 | -€35,204 | |
| Income taxes | 67/77 | €2,627 | €440 | -€2,187 | -83.3% |
| Profit (loss) for the period | 9904 | €4,529 | -€28,487 | -€33,016 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,529 | -€28,487 | -€33,016 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.