MARIO PROJECT: 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.
MARIO PROJECT
Largest movements
- Tangible fixed assets +€44,578
up €44,578 (+813.6%), from €5,479 to €50,057
of which Furniture and vehicles: +€43,761
- Cash -€21,402
down €21,402 (-37.6%), from €56,928 to €35,526
mainly Investment in fixed assets (net) (-€55,278) and Contributions, distributions and other (-€17,647)
- Receivables within one year +€1,132
up €1,132 (+10.1%), from €11,198 to €12,331
of which Other amounts receivable: +€3,293
- Debts after one year +€34,648
new in 2025: €34,648
- Current portion of long-term debt +€9,626
new in 2025: €9,626
- Reserves -€9,459
down €9,459 (-23.8%), from €39,687 to €30,228
- Tax, wage and social debts -€6,853
down €6,853 (-95.5%), from €7,172 to €320
- Other debts -€5,873
down €5,873 (-24.7%), from €23,738 to €17,865
- Depreciation +€8,768
up €8,768 (+454.1%), from €1,931 to €10,699
- Gross operating margin -€4,945
down €4,945 (-16.4%), from €30,086 to €25,141
- Taxes -€3,248
down €3,248 (-53.1%), from €6,111 to €2,863
- Financial charges +€1,541
up €1,541 (+296.7%), from €519 to €2,060
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 | €77,849 | €101,572 | +€23,723 | +30.5% |
| Fixed assets | 21/28 | €6,179 | €50,757 | +€44,578 | +721.5% |
| Tangible fixed assets | 22/27 | €5,479 | €50,057 | +€44,578 | +813.6% |
| Plant, machinery and equipment | 23 | €1,032 | €1,850 | +€817 | +79.2% |
| Furniture and vehicles | 24 | €4,447 | €48,208 | +€43,761 | +984.2% |
| Financial fixed assets | 28 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €71,670 | €50,814 | -€20,856 | -29.1% |
| Amounts receivable within one year | 40/41 | €11,198 | €12,331 | +€1,132 | +10.1% |
| Trade receivables | 40 | €9,228 | €7,068 | -€2,160 | -23.4% |
| Other amounts receivable | 41 | €1,970 | €5,263 | +€3,293 | +167.1% |
| Cash at bank and in hand | 54/58 | €56,928 | €35,526 | -€21,402 | -37.6% |
| Deferred charges and accrued income | 490/1 | €3,544 | €2,958 | -€586 | -16.5% |
| Total equity and liabilities | 10/49 | €77,849 | €101,572 | +€23,723 | +30.5% |
| Equity | 10/15 | €45,687 | €36,228 | -€9,459 | -20.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €39,687 | €30,228 | -€9,459 | -23.8% |
| Distributable reserves | 133 | €39,687 | €30,228 | -€9,459 | -23.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €32,162 | €65,343 | +€33,181 | +103.2% |
| Amounts payable after more than one year | 17 | - | €34,648 | +€34,648 | |
| Financial debts | 170/4 | - | €34,648 | +€34,648 | |
| Amounts payable within one year | 42/48 | €32,162 | €30,695 | -€1,467 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | - | €9,626 | +€9,626 | |
| Trade debts | 44 | €1,252 | €2,885 | +€1,633 | +130.4% |
| Suppliers | 440/4 | €1,252 | €2,885 | +€1,633 | +130.4% |
| Taxes, remuneration and social security | 45 | €7,172 | €320 | -€6,853 | -95.5% |
| Taxes | 450/3 | €7,172 | €320 | -€6,853 | -95.5% |
| Other amounts payable | 47/48 | €23,738 | €17,865 | -€5,873 | -24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,931 | €10,699 | +€8,768 | +454.1% |
| Other operating charges | 640/8 | €1,360 | €1,331 | -€30 | -2.2% |
| Gross operating margin | 9900 | €30,086 | €25,141 | -€4,945 | -16.4% |
| Operating profit (loss) | 9901 | €26,795 | €13,112 | -€13,683 | -51.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €519 | €2,060 | +€1,541 | +296.7% |
| Recurring financial charges | 65 | €519 | €2,060 | +€1,541 | +296.7% |
| Profit (loss) for the period before taxes | 9903 | €26,275 | €11,051 | -€15,224 | -57.9% |
| Income taxes | 67/77 | €6,111 | €2,863 | -€3,248 | -53.1% |
| Profit (loss) for the period | 9904 | €20,165 | €8,189 | -€11,976 | -59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,165 | €8,189 | -€11,976 | -59.4% |
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 10 October 2026 via checked.be.