MARLEO: 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.
MARLEO
Largest movements
- Tangible fixed assets -€2,731
down €2,731 (-14.3%), from €19,079 to €16,348
of which Other tangible fixed assets: -€1,606
- Cash -€2,055
down €2,055 (-45.2%), from €4,548 to €2,493
mainly Net result for the year (-€13,770) and Trade debts (-€2,312)
- Profit (loss) carried forward -€13,770
down €13,770 (-48.0%), from -€28,680 to -€42,451
- Other debts +€11,457
up €11,457 (+26.2%), from €43,807 to €55,264
- Trade debts -€2,312
down €2,312 (-30.7%), from €7,528 to €5,216
- Gross operating margin +€26,433
up €26,433, from -€23,165 to €3,268
- Staff costs +€12,582
new in 2025: €12,582
- Other operating charges -€914
down €914 (-49.7%), from €1,840 to €926
- Depreciation -€502
down €502 (-15.5%), from €3,233 to €2,731
- Financial charges +€348
up €348 (+76.7%), from €453 to €801
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 | €24,697 | €20,095 | -€4,602 | -18.6% |
| Fixed assets | 21/28 | €19,079 | €16,348 | -€2,731 | -14.3% |
| Tangible fixed assets | 22/27 | €19,079 | €16,348 | -€2,731 | -14.3% |
| Plant, machinery and equipment | 23 | €1,082 | €957 | -€125 | -11.5% |
| Furniture and vehicles | 24 | €3,667 | €2,667 | -€1,000 | -27.3% |
| Other tangible fixed assets | 26 | €14,330 | €12,724 | -€1,606 | -11.2% |
| Current assets | 29/58 | €5,619 | €3,748 | -€1,871 | -33.3% |
| Amounts receivable within one year | 40/41 | €1,070 | €1,255 | +€185 | +17.2% |
| Other amounts receivable | 41 | €1,070 | €1,255 | +€185 | +17.2% |
| Cash at bank and in hand | 54/58 | €4,548 | €2,493 | -€2,055 | -45.2% |
| Total equity and liabilities | 10/49 | €24,697 | €20,095 | -€4,602 | -18.6% |
| Equity | 10/15 | -€27,680 | -€41,451 | -€13,770 | -49.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,680 | -€42,451 | -€13,770 | -48.0% |
| Amounts payable | 17/49 | €52,377 | €61,546 | +€9,169 | +17.5% |
| Amounts payable within one year | 42/48 | €52,377 | €61,546 | +€9,169 | +17.5% |
| Trade debts | 44 | €7,528 | €5,216 | -€2,312 | -30.7% |
| Suppliers | 440/4 | €7,528 | €5,216 | -€2,312 | -30.7% |
| Taxes, remuneration and social security | 45 | €1,042 | €1,066 | +€24 | +2.3% |
| Taxes | 450/3 | €1,042 | €1,047 | +€4 | +0.4% |
| Remuneration and social security | 454/9 | - | €19 | +€19 | |
| Other amounts payable | 47/48 | €43,807 | €55,264 | +€11,457 | +26.2% |
| Remuneration, social security and pensions | 62 | - | €12,582 | +€12,582 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,233 | €2,731 | -€502 | -15.5% |
| Other operating charges | 640/8 | €1,840 | €926 | -€914 | -49.7% |
| Gross operating margin | 9900 | -€23,165 | €3,268 | +€26,433 | |
| Operating profit (loss) | 9901 | -€28,238 | -€12,971 | +€15,267 | +54.1% |
| Financial income | 75/76B | €11 | €2 | -€9 | -83.7% |
| Recurring financial income | 75 | €11 | €2 | -€9 | -83.7% |
| Financial charges | 65/66B | €453 | €801 | +€348 | +76.7% |
| Recurring financial charges | 65 | €453 | €801 | +€348 | +76.7% |
| Profit (loss) for the period before taxes | 9903 | -€28,680 | -€13,770 | +€14,910 | +52.0% |
| Profit (loss) for the period | 9904 | -€28,680 | -€13,770 | +€14,910 | +52.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,680 | -€13,770 | +€14,910 | +52.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.