MARLBOROUGH: 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.
MARLBOROUGH
Largest movements
- Receivables within one year +€21,446
up €21,446 (+256%), from €8,365 to €29,812
of which Other amounts receivable: +€20,586
- Tangible fixed assets -€13,291
down €13,291 (-12.1%), from €110,114 to €96,823
of which Plant, machinery and equipment: -€13,961
- Cash +€8,705
up €8,705 (+6.2%), from €141,365 to €150,070
mainly Net result for the year (+€78,599) and Depreciation (+€42,649)
- Reserves +€66,000
up €66,000 (+65.2%), from €101,200 to €167,200
- Debts after one year -€59,040
down €59,040 (-67.7%), from €87,234 to €28,193
- Other debts +€19,254
up €19,254 (+77.7%), from €24,789 to €44,043
- Current portion of long-term debt -€5,361
down €5,361 (-23.1%), from €23,216 to €17,855
- Accrued charges and deferred income -€3,524
down €3,524 (-28.1%), from €12,542 to €9,018
- Gross operating margin +€94,900
up €94,900 (+61.0%), from €155,644 to €250,545
- Staff costs +€73,647
up €73,647 (+314%), from €23,435 to €97,082
- Taxes +€8,799
up €8,799 (+51.6%), from €17,069 to €25,868
- Depreciation +€2,708
up €2,708 (+6.8%), from €39,941 to €42,649
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 | €282,639 | €301,417 | +€18,778 | +6.6% |
| Fixed assets | 21/28 | €110,114 | €96,823 | -€13,291 | -12.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €110,114 | €96,823 | -€13,291 | -12.1% |
| Plant, machinery and equipment | 23 | €65,728 | €51,768 | -€13,961 | -21.2% |
| Furniture and vehicles | 24 | €9,298 | €12,787 | +€3,489 | +37.5% |
| Leasing and similar rights | 25 | €11,049 | €1,361 | -€9,687 | -87.7% |
| Other tangible fixed assets | 26 | €24,039 | €30,907 | +€6,868 | +28.6% |
| Current assets | 29/58 | €172,525 | €204,594 | +€32,069 | +18.6% |
| Stocks and contracts in progress | 3 | €2,768 | €3,799 | +€1,031 | +37.3% |
| Stocks | 30/36 | €2,768 | €3,799 | +€1,031 | +37.3% |
| Amounts receivable within one year | 40/41 | €8,365 | €29,812 | +€21,446 | +256% |
| Trade receivables | 40 | €8,365 | €9,225 | +€860 | +10.3% |
| Other amounts receivable | 41 | - | €20,586 | +€20,586 | |
| Cash at bank and in hand | 54/58 | €141,365 | €150,070 | +€8,705 | +6.2% |
| Deferred charges and accrued income | 490/1 | €20,027 | €20,914 | +€887 | +4.4% |
| Total equity and liabilities | 10/49 | €282,639 | €301,417 | +€18,778 | +6.6% |
| Equity | 10/15 | €107,499 | €173,598 | +€66,099 | +61.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €101,200 | €167,200 | +€66,000 | +65.2% |
| Distributable reserves | 133 | €101,200 | €167,200 | +€66,000 | +65.2% |
| Profit (loss) carried forward | 14 | €99 | €198 | +€99 | +99.5% |
| Amounts payable | 17/49 | €175,139 | €127,819 | -€47,321 | -27.0% |
| Amounts payable after more than one year | 17 | €87,234 | €28,193 | -€59,040 | -67.7% |
| Financial debts | 170/4 | €87,234 | €28,193 | -€59,040 | -67.7% |
| Amounts payable within one year | 42/48 | €75,364 | €90,607 | +€15,244 | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €23,216 | €17,855 | -€5,361 | -23.1% |
| Trade debts | 44 | €13,583 | €16,877 | +€3,295 | +24.3% |
| Suppliers | 440/4 | €13,583 | €16,877 | +€3,295 | +24.3% |
| Taxes, remuneration and social security | 45 | €13,776 | €11,832 | -€1,944 | -14.1% |
| Taxes | 450/3 | €11,065 | €5,384 | -€5,681 | -51.3% |
| Remuneration and social security | 454/9 | €2,711 | €6,448 | +€3,737 | +138% |
| Other amounts payable | 47/48 | €24,789 | €44,043 | +€19,254 | +77.7% |
| Accrued charges and deferred income | 492/3 | €12,542 | €9,018 | -€3,524 | -28.1% |
| Remuneration, social security and pensions | 62 | €23,435 | €97,082 | +€73,647 | +314% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,941 | €42,649 | +€2,708 | +6.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €377 | - | -€377 | |
| Other operating charges | 640/8 | €3,078 | €4,507 | +€1,429 | +46.4% |
| Gross operating margin | 9900 | €155,644 | €250,545 | +€94,900 | +61.0% |
| Operating profit (loss) | 9901 | €88,813 | €106,306 | +€17,494 | +19.7% |
| Financial income | 75/76B | €438 | €1,893 | +€1,455 | +332% |
| Recurring financial income | 75 | €438 | €1,893 | +€1,455 | +332% |
| Financial charges | 65/66B | €4,270 | €3,733 | -€538 | -12.6% |
| Recurring financial charges | 65 | €3,790 | €3,733 | -€58 | -1.5% |
| Non-recurring financial charges | 66B | €480 | - | -€480 | |
| Profit (loss) for the period before taxes | 9903 | €84,981 | €104,467 | +€19,486 | +22.9% |
| Income taxes | 67/77 | €17,069 | €25,868 | +€8,799 | +51.6% |
| Profit (loss) for the period | 9904 | €67,912 | €78,599 | +€10,687 | +15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €67,912 | €78,599 | +€10,687 | +15.7% |
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 17 October 2026 via checked.be.