MARICOU: 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.
MARICOU
Largest movements
- Cash +€26,978
up €26,978 (+43.5%), from €61,984 to €88,962
mainly Net result for the year (+€20,220) and Depreciation (+€15,436)
- Tangible fixed assets -€15,436
down €15,436 (-26.9%), from €57,400 to €41,964
of which Other tangible fixed assets: -€8,762
- Profit (loss) carried forward +€20,220
up €20,220 (+34.8%), from €58,085 to €78,306
- Other debts -€13,786
down €13,786 (-73.2%), from €18,835 to €5,049
- Tax, wage and social debts +€5,921
up €5,921 (+37.9%), from €15,620 to €21,541
of which Taxes: +€3,864
- Trade debts +€5,536
up €5,536 (+32.3%), from €17,118 to €22,653
- Debts after one year -€2,837
down €2,837 (-25.4%), from €11,175 to €8,337
- Gross operating margin -€13,121
down €13,121 (-8.1%), from €162,531 to €149,411
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 | €146,596 | €159,183 | +€12,587 | +8.6% |
| Fixed assets | 21/28 | €65,998 | €50,562 | -€15,436 | -23.4% |
| Tangible fixed assets | 22/27 | €57,400 | €41,964 | -€15,436 | -26.9% |
| Furniture and vehicles | 24 | €14,079 | €7,405 | -€6,674 | -47.4% |
| Other tangible fixed assets | 26 | €43,321 | €34,559 | -€8,762 | -20.2% |
| Financial fixed assets | 28 | €8,598 | €8,598 | = | 0.0% |
| Current assets | 29/58 | €80,597 | €108,621 | +€28,023 | +34.8% |
| Stocks and contracts in progress | 3 | €3,131 | €4,358 | +€1,227 | +39.2% |
| Stocks | 30/36 | €3,131 | €4,358 | +€1,227 | +39.2% |
| Amounts receivable within one year | 40/41 | €13,990 | €14,837 | +€848 | +6.1% |
| Trade receivables | 40 | €12,434 | €11,027 | -€1,407 | -11.3% |
| Other amounts receivable | 41 | €1,555 | €3,810 | +€2,255 | +145% |
| Cash at bank and in hand | 54/58 | €61,984 | €88,962 | +€26,978 | +43.5% |
| Deferred charges and accrued income | 490/1 | €1,492 | €463 | -€1,029 | -69.0% |
| Total equity and liabilities | 10/49 | €146,596 | €159,183 | +€12,587 | +8.6% |
| Equity | 10/15 | €78,545 | €98,766 | +€20,220 | +25.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,085 | €78,306 | +€20,220 | +34.8% |
| Amounts payable | 17/49 | €68,050 | €60,418 | -€7,633 | -11.2% |
| Amounts payable after more than one year | 17 | €11,175 | €8,337 | -€2,837 | -25.4% |
| Financial debts | 170/4 | €11,175 | €8,337 | -€2,837 | -25.4% |
| Amounts payable within one year | 42/48 | €56,876 | €52,080 | -€4,795 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €5,303 | €2,837 | -€2,465 | -46.5% |
| Trade debts | 44 | €17,118 | €22,653 | +€5,536 | +32.3% |
| Suppliers | 440/4 | €17,118 | €22,653 | +€5,536 | +32.3% |
| Taxes, remuneration and social security | 45 | €15,620 | €21,541 | +€5,921 | +37.9% |
| Taxes | 450/3 | €7,889 | €11,753 | +€3,864 | +49.0% |
| Remuneration and social security | 454/9 | €7,731 | €9,788 | +€2,056 | +26.6% |
| Other amounts payable | 47/48 | €18,835 | €5,049 | -€13,786 | -73.2% |
| Remuneration, social security and pensions | 62 | €97,199 | €97,211 | +€12 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,432 | €15,436 | +€4 | 0.0% |
| Other operating charges | 640/8 | €1,922 | €1,233 | -€689 | -35.9% |
| Gross operating margin | 9900 | €162,531 | €149,411 | -€13,121 | -8.1% |
| Operating profit (loss) | 9901 | €47,979 | €35,531 | -€12,448 | -25.9% |
| Financial income | 75/76B | €449 | €357 | -€92 | -20.5% |
| Recurring financial income | 75 | €449 | €357 | -€92 | -20.5% |
| Financial charges | 65/66B | €4,678 | €4,714 | +€36 | +0.8% |
| Recurring financial charges | 65 | €4,678 | €4,714 | +€36 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €43,750 | €31,174 | -€12,576 | -28.7% |
| Income taxes | 67/77 | €11,588 | €10,954 | -€634 | -5.5% |
| Profit (loss) for the period | 9904 | €32,163 | €20,220 | -€11,942 | -37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €32,163 | €20,220 | -€11,942 | -37.1% |
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 18 October 2026 via checked.be.