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 +€140,181
up €140,181 (+155.0%), from €90,442 to €230,624
- Receivables within one year -€33,991
down €33,991 (-35.7%), from €95,337 to €61,346
- Cash +€4,961
up €4,961 (+1078.1%), from €460 to €5,422
mainly Trade debts (+€102,662) and Receivables within one year (+€33,991)
- Trade debts +€102,662
up €102,662 (+185.0%), from €55,504 to €158,166
- Other debts +€23,730
up €23,730 (+456.3%), from €5,201 to €28,931
- Profit (loss) carried forward -€12,360
new in 2024: -€12,360
- Tax, wage and social debts -€3,893
down €3,893 (-28.1%), from €13,874 to €9,981
- Gross operating margin -€19,423
down €19,423, from €9,238 to -€10,185
- Depreciation -€541
down €541 (-43.2%), from €1,255 to €713
- Other operating charges +€504
up €504 (+85.0%), from €593 to €1,097
- Financial charges -€114
down €114 (-23.8%), from €479 to €365
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 | €188,537 | €298,676 | +€110,139 | +58.4% |
| Fixed assets | 21/28 | €1,952 | €1,239 | -€713 | -36.5% |
| Tangible fixed assets | 22/27 | €1,892 | €1,179 | -€713 | -37.7% |
| Land and buildings | 22 | €1,892 | €1,179 | -€713 | -37.7% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €186,585 | €297,437 | +€110,852 | +59.4% |
| Stocks and contracts in progress | 3 | €90,442 | €230,624 | +€140,181 | +155.0% |
| Stocks | 30/36 | €90,442 | €230,624 | +€140,181 | +155.0% |
| Amounts receivable within one year | 40/41 | €95,337 | €61,346 | -€33,991 | -35.7% |
| Trade receivables | 40 | €95,337 | €61,346 | -€33,991 | -35.7% |
| Cash at bank and in hand | 54/58 | €460 | €5,422 | +€4,961 | +1078.1% |
| Deferred charges and accrued income | 490/1 | €345 | €46 | -€299 | -86.8% |
| Total equity and liabilities | 10/49 | €188,537 | €298,676 | +€110,139 | +58.4% |
| Equity | 10/15 | €113,958 | €101,598 | -€12,360 | -10.8% |
| Contributions | 10/11 | €19,685 | €19,685 | = | 0.0% |
| Reserves | 13 | €94,273 | €94,273 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €92,273 | €92,273 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€12,360 | -€12,360 | |
| Amounts payable | 17/49 | €74,579 | €197,078 | +€122,499 | +164.3% |
| Amounts payable within one year | 42/48 | €74,579 | €197,078 | +€122,499 | +164.3% |
| Trade debts | 44 | €55,504 | €158,166 | +€102,662 | +185.0% |
| Suppliers | 440/4 | €55,504 | €158,166 | +€102,662 | +185.0% |
| Taxes, remuneration and social security | 45 | €13,874 | €9,981 | -€3,893 | -28.1% |
| Taxes | 450/3 | €13,874 | €9,981 | -€3,893 | -28.1% |
| Other amounts payable | 47/48 | €5,201 | €28,931 | +€23,730 | +456.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,255 | €713 | -€541 | -43.2% |
| Other operating charges | 640/8 | €593 | €1,097 | +€504 | +85.0% |
| Gross operating margin | 9900 | €9,238 | -€10,185 | -€19,423 | |
| Operating profit (loss) | 9901 | €7,390 | -€11,995 | -€19,385 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -67.9% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -67.9% |
| Financial charges | 65/66B | €479 | €365 | -€114 | -23.8% |
| Recurring financial charges | 65 | €479 | €365 | -€114 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €6,912 | -€12,360 | -€19,272 | |
| Profit (loss) for the period | 9904 | €6,912 | -€12,360 | -€19,272 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,912 | -€12,360 | -€19,272 |
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 5 October 2026 via checked.be.