MARLET: 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.
MARLET
Largest movements
- Tangible fixed assets -€29,182
down €29,182 (-28.2%), from €103,459 to €74,277
- Cash +€10,160
up €10,160 (+79.9%), from €12,709 to €22,869
mainly Depreciation (+€21,215) and Other debts (+€21,162)
- Debts after one year -€28,024
down €28,024 (-34.3%), from €81,651 to €53,627
- Other debts +€21,162
new in 2025: €21,162
- Reserves -€13,329
down €13,329 (-86.1%), from €15,484 to €2,155
- Profit (loss) carried forward +€5,592
up €5,592 (+124.8%), from €4,479 to €10,071
- Current portion of long-term debt -€2,848
down €2,848 (-12.3%), from €23,062 to €20,214
- Gross operating margin +€18,392
up €18,392 (+64.5%), from €28,514 to €46,906
- Taxes +€3,906
up €3,906 (+5139.5%), from €76 to €3,982
- Depreciation -€3,347
down €3,347 (-13.6%), from €24,562 to €21,215
- Other operating charges +€1,285
up €1,285 (+232.8%), from €552 to €1,837
- Financial charges +€699
up €699 (+19.3%), from €3,621 to €4,320
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 | €139,267 | €122,380 | -€16,887 | -12.1% |
| Fixed assets | 21/28 | €103,459 | €74,277 | -€29,182 | -28.2% |
| Tangible fixed assets | 22/27 | €103,459 | €74,277 | -€29,182 | -28.2% |
| Furniture and vehicles | 24 | €103,459 | €74,277 | -€29,182 | -28.2% |
| Current assets | 29/58 | €35,808 | €48,103 | +€12,295 | +34.3% |
| Stocks and contracts in progress | 3 | €1,743 | €2,672 | +€929 | +53.3% |
| Stocks | 30/36 | €1,743 | €2,672 | +€929 | +53.3% |
| Amounts receivable within one year | 40/41 | €20,480 | €21,815 | +€1,335 | +6.5% |
| Trade receivables | 40 | €9,370 | €360 | -€9,010 | -96.2% |
| Other amounts receivable | 41 | €11,110 | €21,455 | +€10,345 | +93.1% |
| Cash at bank and in hand | 54/58 | €12,709 | €22,869 | +€10,160 | +79.9% |
| Deferred charges and accrued income | 490/1 | €876 | €747 | -€129 | -14.7% |
| Total equity and liabilities | 10/49 | €139,267 | €122,380 | -€16,887 | -12.1% |
| Equity | 10/15 | €25,963 | €18,226 | -€7,737 | -29.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €15,484 | €2,155 | -€13,329 | -86.1% |
| Distributable reserves | 133 | €15,484 | €2,155 | -€13,329 | -86.1% |
| Profit (loss) carried forward | 14 | €4,479 | €10,071 | +€5,592 | +124.8% |
| Amounts payable | 17/49 | €113,304 | €104,154 | -€9,150 | -8.1% |
| Amounts payable after more than one year | 17 | €81,651 | €53,627 | -€28,024 | -34.3% |
| Financial debts | 170/4 | €81,651 | €53,627 | -€28,024 | -34.3% |
| Amounts payable within one year | 42/48 | €31,653 | €50,527 | +€18,874 | +59.6% |
| Current portion of amounts payable after more than one year | 42 | €23,062 | €20,214 | -€2,848 | -12.3% |
| Trade debts | 44 | €2,403 | €3,114 | +€711 | +29.6% |
| Suppliers | 440/4 | €2,403 | €3,114 | +€711 | +29.6% |
| Taxes, remuneration and social security | 45 | €6,188 | €6,037 | -€151 | -2.4% |
| Taxes | 450/3 | €4,188 | €3,997 | -€191 | -4.6% |
| Remuneration and social security | 454/9 | €2,000 | €2,040 | +€40 | +2.0% |
| Other amounts payable | 47/48 | - | €21,162 | +€21,162 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,562 | €21,215 | -€3,347 | -13.6% |
| Other operating charges | 640/8 | €552 | €1,837 | +€1,285 | +232.8% |
| Gross operating margin | 9900 | €28,514 | €46,906 | +€18,392 | +64.5% |
| Operating profit (loss) | 9901 | €3,400 | €23,854 | +€20,454 | +601.6% |
| Financial income | 75/76B | €28 | €39 | +€11 | +39.3% |
| Recurring financial income | 75 | €28 | €39 | +€11 | +39.3% |
| Financial charges | 65/66B | €3,621 | €4,320 | +€699 | +19.3% |
| Recurring financial charges | 65 | €3,621 | €4,320 | +€699 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | -€193 | €19,573 | +€19,766 | |
| Income taxes | 67/77 | €76 | €3,982 | +€3,906 | +5139.5% |
| Profit (loss) for the period | 9904 | -€269 | €15,591 | +€15,860 | |
| Profit (loss) for the period to be appropriated | 9905 | -€269 | €15,591 | +€15,860 |
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 1 October 2026 via checked.be.