MARJO: 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.
MARJO
Largest movements
- Stocks and contracts +€88,065
up €88,065 (+131.6%), from €66,935 to €155,000
of which Contracts in progress: +€88,065
- Cash +€24,224
up €24,224 (+25.3%), from €95,711 to €119,935
mainly Other debts (+€60,323) and Trade debts (+€45,190)
- Other debts +€60,323
up €60,323 (+19.3%), from €312,628 to €372,951
- Trade debts +€45,190
up €45,190 (+331.5%), from €13,631 to €58,821
- Reserves -€39,000
down €39,000 (-20.1%), from €193,559 to €154,559
of which Distributable reserves: -€39,000
- Tax, wage and social debts +€34,934
up €34,934 (+23445.6%), from €149 to €35,083
- Accrued charges and deferred income +€13,677
up €13,677 (+29.0%), from €47,156 to €60,833
- Staff costs -€29,704
down €29,704 (-62.9%), from €47,261 to €17,557
- Financial charges +€13,577
up €13,577 (+91.2%), from €14,889 to €28,466
- Gross operating margin -€2,762
down €2,762 (-3.9%), from €70,895 to €68,133
- Other operating charges +€2,523
up €2,523 (+242.6%), from €1,040 to €3,563
- Financial income -€1,597
down €1,597 (-60.4%), from €2,644 to €1,047
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €936,186 | €1,051,700 | +€115,514 | +12.3% |
| Fixed assets | 21/28 | €18,254 | €14,828 | -€3,426 | -18.8% |
| Tangible fixed assets | 22/27 | €17,989 | €14,563 | -€3,426 | -19.0% |
| Furniture and vehicles | 24 | €11,789 | €9,163 | -€2,626 | -22.3% |
| Other tangible fixed assets | 26 | €6,200 | €5,400 | -€800 | -12.9% |
| Financial fixed assets | 28 | €265 | €265 | = | 0.0% |
| Current assets | 29/58 | €917,932 | €1,036,872 | +€118,940 | +13.0% |
| Stocks and contracts in progress | 3 | €66,935 | €155,000 | +€88,065 | +131.6% |
| Stocks | 30/36 | €5,000 | €5,000 | = | 0.0% |
| Contracts in progress | 37 | €61,935 | €150,000 | +€88,065 | +142.2% |
| Amounts receivable within one year | 40/41 | €754,804 | €761,455 | +€6,651 | +0.9% |
| Trade receivables | 40 | €660,360 | €666,037 | +€5,677 | +0.9% |
| Other amounts receivable | 41 | €94,444 | €95,418 | +€974 | +1.0% |
| Cash at bank and in hand | 54/58 | €95,711 | €119,935 | +€24,224 | +25.3% |
| Deferred charges and accrued income | 490/1 | €482 | €482 | = | 0.0% |
| Total equity and liabilities | 10/49 | €936,186 | €1,051,700 | +€115,514 | +12.3% |
| Equity | 10/15 | €562,622 | €524,012 | -€38,610 | -6.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €193,559 | €154,559 | -€39,000 | -20.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €191,700 | €152,700 | -€39,000 | -20.3% |
| Profit (loss) carried forward | 14 | €350,471 | €350,861 | +€390 | +0.1% |
| Amounts payable | 17/49 | €373,564 | €527,688 | +€154,124 | +41.3% |
| Amounts payable within one year | 42/48 | €326,408 | €466,855 | +€140,447 | +43.0% |
| Trade debts | 44 | €13,631 | €58,821 | +€45,190 | +331.5% |
| Suppliers | 440/4 | €13,631 | €58,821 | +€45,190 | +331.5% |
| Taxes, remuneration and social security | 45 | €149 | €35,083 | +€34,934 | +23445.6% |
| Remuneration and social security | 454/9 | €149 | €35,083 | +€34,934 | +23445.6% |
| Other amounts payable | 47/48 | €312,628 | €372,951 | +€60,323 | +19.3% |
| Accrued charges and deferred income | 492/3 | €47,156 | €60,833 | +€13,677 | +29.0% |
| Remuneration, social security and pensions | 62 | €47,261 | €17,557 | -€29,704 | -62.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,140 | €3,426 | +€1,286 | +60.1% |
| Other operating charges | 640/8 | €1,040 | €3,563 | +€2,523 | +242.6% |
| Gross operating margin | 9900 | €70,895 | €68,133 | -€2,762 | -3.9% |
| Operating profit (loss) | 9901 | €20,454 | €43,587 | +€23,133 | +113.1% |
| Financial income | 75/76B | €2,644 | €1,047 | -€1,597 | -60.4% |
| Recurring financial income | 75 | €2,644 | €1,047 | -€1,597 | -60.4% |
| Financial charges | 65/66B | €14,889 | €28,466 | +€13,577 | +91.2% |
| Recurring financial charges | 65 | €14,889 | €28,466 | +€13,577 | +91.2% |
| Profit (loss) for the period before taxes | 9903 | €8,209 | €16,168 | +€7,959 | +97.0% |
| Income taxes | 67/77 | €3,433 | €4,778 | +€1,345 | +39.2% |
| Profit (loss) for the period | 9904 | €4,776 | €11,390 | +€6,614 | +138.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,776 | €11,390 | +€6,614 | +138.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.