MARLELEC: 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.
MARLELEC
Largest movements
- Cash +€47,359
up €47,359 (+44.0%), from €107,530 to €154,889
mainly Other debts (+€75,657) and Net result for the year (+€53,845)
- Receivables within one year -€15,629
down €15,629 (-11.6%), from €135,295 to €119,666
of which Other amounts receivable: -€11,789
- Tangible fixed assets -€12,364
down €12,364 (-24.3%), from €50,837 to €38,473
of which Furniture and vehicles: -€12,051
- Other debts +€75,657
up €75,657 (+296.3%), from €25,532 to €101,189
- Reserves -€47,344
down €47,344 (-20.8%), from €227,552 to €180,208
- Debts after one year -€6,686
down €6,686 (-35.3%), from €18,942 to €12,256
- Tax, wage and social debts -€4,084
down €4,084 (-33.4%), from €12,219 to €8,135
- Gross operating margin -€19,835
down €19,835 (-18.2%), from €109,221 to €89,386
- Taxes -€6,515
down €6,515 (-24.4%), from €26,689 to €20,174
- Depreciation +€2,101
up €2,101 (+18.2%), from €11,539 to €13,640
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 | €298,737 | €316,294 | +€17,557 | +5.9% |
| Fixed assets | 21/28 | €50,837 | €38,473 | -€12,364 | -24.3% |
| Tangible fixed assets | 22/27 | €50,837 | €38,473 | -€12,364 | -24.3% |
| Plant, machinery and equipment | 23 | €3,391 | €3,078 | -€313 | -9.2% |
| Furniture and vehicles | 24 | €47,446 | €35,395 | -€12,051 | -25.4% |
| Current assets | 29/58 | €247,900 | €277,821 | +€29,921 | +12.1% |
| Amounts receivable within one year | 40/41 | €135,295 | €119,666 | -€15,629 | -11.6% |
| Trade receivables | 40 | €30,717 | €26,877 | -€3,840 | -12.5% |
| Other amounts receivable | 41 | €104,578 | €92,789 | -€11,789 | -11.3% |
| Cash at bank and in hand | 54/58 | €107,530 | €154,889 | +€47,359 | +44.0% |
| Deferred charges and accrued income | 490/1 | €5,075 | €3,266 | -€1,809 | -35.6% |
| Total equity and liabilities | 10/49 | €298,737 | €316,294 | +€17,557 | +5.9% |
| Equity | 10/15 | €233,752 | €186,408 | -€47,344 | -20.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €227,552 | €180,208 | -€47,344 | -20.8% |
| Distributable reserves | 133 | €227,552 | €180,208 | -€47,344 | -20.8% |
| Amounts payable | 17/49 | €64,985 | €129,886 | +€64,901 | +99.9% |
| Amounts payable after more than one year | 17 | €18,942 | €12,256 | -€6,686 | -35.3% |
| Financial debts | 170/4 | €18,942 | €12,256 | -€6,686 | -35.3% |
| Amounts payable within one year | 42/48 | €45,714 | €117,491 | +€71,777 | +157.0% |
| Current portion of amounts payable after more than one year | 42 | €6,685 | €6,685 | = | 0.0% |
| Trade debts | 44 | €1,278 | €1,482 | +€204 | +16.0% |
| Suppliers | 440/4 | €1,278 | €1,482 | +€204 | +16.0% |
| Taxes, remuneration and social security | 45 | €12,219 | €8,135 | -€4,084 | -33.4% |
| Taxes | 450/3 | €12,219 | €8,135 | -€4,084 | -33.4% |
| Other amounts payable | 47/48 | €25,532 | €101,189 | +€75,657 | +296.3% |
| Accrued charges and deferred income | 492/3 | €329 | €139 | -€190 | -57.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,539 | €13,640 | +€2,101 | +18.2% |
| Other operating charges | 640/8 | €706 | €1,085 | +€379 | +53.7% |
| Gross operating margin | 9900 | €109,221 | €89,386 | -€19,835 | -18.2% |
| Operating profit (loss) | 9901 | €96,976 | €74,661 | -€22,315 | -23.0% |
| Financial income | 75/76B | €1,265 | €781 | -€484 | -38.3% |
| Recurring financial income | 75 | €1,265 | €781 | -€484 | -38.3% |
| Financial charges | 65/66B | €1,366 | €1,423 | +€57 | +4.2% |
| Recurring financial charges | 65 | €1,366 | €1,423 | +€57 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €96,875 | €74,019 | -€22,856 | -23.6% |
| Income taxes | 67/77 | €26,689 | €20,174 | -€6,515 | -24.4% |
| Profit (loss) for the period | 9904 | €70,186 | €53,845 | -€16,341 | -23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €70,186 | €53,845 | -€16,341 | -23.3% |
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.