MARLEE: 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.
MARLEE
Largest movements
- Cash +€25,802
up €25,802 (+16.4%), from €156,990 to €182,792
mainly Other debts (+€159,014) and Net result for the year (+€49,661)
- Receivables within one year +€14,966
up €14,966, from €0 to €14,966
of which Trade receivables: +€14,939
- Tangible fixed assets -€5,024
down €5,024 (-2.3%), from €214,262 to €209,238
of which Land and buildings: -€6,000
- Other debts +€159,014
up €159,014 (+4472.0%), from €3,556 to €162,570
- Reserves -€110,339
down €110,339 (-44.3%), from €249,251 to €138,912
of which Distributable reserves: -€110,339
- Debts after one year -€17,828
down €17,828 (-25.2%), from €70,840 to €53,013
- Tax, wage and social debts +€11,356
up €11,356 (+240.7%), from €4,718 to €16,073
- Trade debts -€6,732
down €6,732 (-66.4%), from €10,146 to €3,414
- Gross operating margin +€30,873
up €30,873 (+58.5%), from €52,792 to €83,665
- Taxes +€9,077
up €9,077 (+73.0%), from €12,434 to €21,511
- Depreciation +€992
up €992 (+13.0%), from €7,606 to €8,597
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 | €379,997 | €415,651 | +€35,654 | +9.4% |
| Fixed assets | 21/28 | €214,262 | €209,238 | -€5,024 | -2.3% |
| Tangible fixed assets | 22/27 | €214,262 | €209,238 | -€5,024 | -2.3% |
| Land and buildings | 22 | €211,500 | €205,500 | -€6,000 | -2.8% |
| Plant, machinery and equipment | 23 | €1,995 | €3,564 | +€1,569 | +78.6% |
| Furniture and vehicles | 24 | €767 | €174 | -€593 | -77.3% |
| Current assets | 29/58 | €165,735 | €206,413 | +€40,678 | +24.5% |
| Amounts receivable within one year | 40/41 | €0 | €14,966 | +€14,966 | |
| Trade receivables | 40 | €0 | €14,939 | +€14,939 | |
| Other amounts receivable | 41 | €0 | €27 | +€27 | |
| Current investments | 50/53 | €73 | €74 | +€0 | +0.6% |
| Cash at bank and in hand | 54/58 | €156,990 | €182,792 | +€25,802 | +16.4% |
| Deferred charges and accrued income | 490/1 | €8,671 | €8,581 | -€90 | -1.0% |
| Total equity and liabilities | 10/49 | €379,997 | €415,651 | +€35,654 | +9.4% |
| Equity | 10/15 | €267,851 | €157,512 | -€110,339 | -41.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €249,251 | €138,912 | -€110,339 | -44.3% |
| Tax-exempt reserves | 132 | €7,996 | €7,996 | = | 0.0% |
| Distributable reserves | 133 | €241,256 | €130,917 | -€110,339 | -45.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €112,146 | €258,138 | +€145,993 | +130.2% |
| Amounts payable after more than one year | 17 | €70,840 | €53,013 | -€17,828 | -25.2% |
| Financial debts | 170/4 | €70,840 | €53,013 | -€17,828 | -25.2% |
| Amounts payable within one year | 42/48 | €41,306 | €205,126 | +€163,820 | +396.6% |
| Current portion of amounts payable after more than one year | 42 | €17,625 | €17,828 | +€203 | +1.2% |
| Financial debts | 43 | €5,262 | €5,241 | -€21 | -0.4% |
| Credit institutions | 430/8 | €5,262 | €5,241 | -€21 | -0.4% |
| Trade debts | 44 | €10,146 | €3,414 | -€6,732 | -66.4% |
| Suppliers | 440/4 | €10,146 | €3,414 | -€6,732 | -66.4% |
| Taxes, remuneration and social security | 45 | €4,718 | €16,073 | +€11,356 | +240.7% |
| Taxes | 450/3 | €4,718 | €16,073 | +€11,356 | +240.7% |
| Other amounts payable | 47/48 | €3,556 | €162,570 | +€159,014 | +4472.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,606 | €8,597 | +€992 | +13.0% |
| Other operating charges | 640/8 | €1,711 | €1,842 | +€131 | +7.6% |
| Gross operating margin | 9900 | €52,792 | €83,665 | +€30,873 | +58.5% |
| Operating profit (loss) | 9901 | €43,476 | €73,226 | +€29,751 | +68.4% |
| Financial income | 75/76B | €4 | €1 | -€3 | -82.8% |
| Recurring financial income | 75 | €4 | €1 | -€3 | -82.8% |
| Financial charges | 65/66B | €1,704 | €2,055 | +€351 | +20.6% |
| Recurring financial charges | 65 | €1,704 | €2,055 | +€351 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | €41,776 | €71,172 | +€29,396 | +70.4% |
| Income taxes | 67/77 | €12,434 | €21,511 | +€9,077 | +73.0% |
| Profit (loss) for the period | 9904 | €29,342 | €49,661 | +€20,319 | +69.2% |
| Profit (loss) for the period to be appropriated | 9905 | €29,342 | €49,661 | +€20,319 | +69.2% |
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.