MARJAHAN: 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.
MARJAHAN
Largest movements
- Stocks and contracts +€1,500
up €1,500 (+4.0%), from €37,300 to €38,800
- Cash +€1,101
up €1,101 (+24.5%), from €4,491 to €5,592
mainly Other debts (+€7,958) and Trade debts (+€3,548)
- Receivables within one year -€1,049
down €1,049 (-28.4%), from €3,692 to €2,642
- Profit (loss) carried forward -€7,996
down €7,996, from €5,465 to -€2,532
- Other debts +€7,958
up €7,958 (+32.2%), from €24,715 to €32,673
- Trade debts +€3,548
up €3,548 (+71.5%), from €4,963 to €8,511
- Tax, wage and social debts -€1,958
down €1,958 (-85.9%), from €2,279 to €321
- Gross operating margin -€4,988
down €4,988 (-20.1%), from €24,826 to €19,837
- Staff costs +€4,986
up €4,986 (+24.7%), from €20,218 to €25,205
- Financial charges -€418
down €418 (-19.7%), from €2,126 to €1,708
- Other operating charges -€409
down €409 (-30.8%), from €1,330 to €921
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 | €45,482 | €47,034 | +€1,552 | +3.4% |
| Current assets | 29/58 | €45,482 | €47,034 | +€1,552 | +3.4% |
| Stocks and contracts in progress | 3 | €37,300 | €38,800 | +€1,500 | +4.0% |
| Stocks | 30/36 | €37,300 | €38,800 | +€1,500 | +4.0% |
| Amounts receivable within one year | 40/41 | €3,692 | €2,642 | -€1,049 | -28.4% |
| Other amounts receivable | 41 | €3,692 | €2,642 | -€1,049 | -28.4% |
| Cash at bank and in hand | 54/58 | €4,491 | €5,592 | +€1,101 | +24.5% |
| Total equity and liabilities | 10/49 | €45,482 | €47,034 | +€1,552 | +3.4% |
| Equity | 10/15 | €13,525 | €5,528 | -€7,996 | -59.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,465 | -€2,532 | -€7,996 | |
| Amounts payable | 17/49 | €31,957 | €41,506 | +€9,548 | +29.9% |
| Amounts payable within one year | 42/48 | €31,957 | €41,506 | +€9,548 | +29.9% |
| Trade debts | 44 | €4,963 | €8,511 | +€3,548 | +71.5% |
| Suppliers | 440/4 | €4,963 | €8,511 | +€3,548 | +71.5% |
| Taxes, remuneration and social security | 45 | €2,279 | €321 | -€1,958 | -85.9% |
| Remuneration and social security | 454/9 | €2,279 | €321 | -€1,958 | -85.9% |
| Other amounts payable | 47/48 | €24,715 | €32,673 | +€7,958 | +32.2% |
| Remuneration, social security and pensions | 62 | €20,218 | €25,205 | +€4,986 | +24.7% |
| Other operating charges | 640/8 | €1,330 | €921 | -€409 | -30.8% |
| Gross operating margin | 9900 | €24,826 | €19,837 | -€4,988 | -20.1% |
| Operating profit (loss) | 9901 | €3,277 | -€6,288 | -€9,566 | |
| Financial charges | 65/66B | €2,126 | €1,708 | -€418 | -19.7% |
| Recurring financial charges | 65 | €2,126 | €1,708 | -€418 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | €1,151 | -€7,996 | -€9,147 | |
| Profit (loss) for the period | 9904 | €1,151 | -€7,996 | -€9,147 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,151 | -€7,996 | -€9,147 |
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.