MARLOG: 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.
MARLOG
Largest movements
- Receivables within one year +€23,316
up €23,316 (+691.3%), from €3,373 to €26,689
of which Trade receivables: +€23,316
- Cash +€21,121
up €21,121 (+14.8%), from €142,769 to €163,890
mainly Net result for the year (+€38,319) and Tax, wage and social debts (+€7,268)
- Reserves +€38,319
up €38,319 (+31.0%), from €123,768 to €162,087
- Tax, wage and social debts +€7,268
up €7,268 (+69.1%), from €10,523 to €17,791
- Gross operating margin +€13,440
up €13,440 (+28.1%), from €47,881 to €61,321
- Taxes +€3,610
up €3,610 (+27.4%), from €13,182 to €16,792
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 | €155,141 | €199,380 | +€44,238 | +28.5% |
| Fixed assets | 21/28 | €5,892 | €5,856 | -€36 | -0.6% |
| Tangible fixed assets | 22/27 | €5,892 | €5,856 | -€36 | -0.6% |
| Land and buildings | 22 | €702 | €372 | -€330 | -47.0% |
| Plant, machinery and equipment | 23 | €2,026 | €1,198 | -€828 | -40.9% |
| Furniture and vehicles | 24 | €3,165 | €4,286 | +€1,122 | +35.4% |
| Current assets | 29/58 | €149,249 | €193,524 | +€44,275 | +29.7% |
| Amounts receivable within one year | 40/41 | €3,373 | €26,689 | +€23,316 | +691.3% |
| Trade receivables | 40 | €1,296 | €24,612 | +€23,316 | +1799.1% |
| Other amounts receivable | 41 | €2,077 | €2,077 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €142,769 | €163,890 | +€21,121 | +14.8% |
| Deferred charges and accrued income | 490/1 | €3,107 | €2,944 | -€163 | -5.2% |
| Total equity and liabilities | 10/49 | €155,141 | €199,380 | +€44,238 | +28.5% |
| Equity | 10/15 | €136,768 | €175,087 | +€38,319 | +28.0% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €123,768 | €162,087 | +€38,319 | +31.0% |
| Distributable reserves | 133 | €123,768 | €162,087 | +€38,319 | +31.0% |
| Amounts payable | 17/49 | €18,374 | €24,293 | +€5,919 | +32.2% |
| Amounts payable within one year | 42/48 | €18,374 | €24,293 | +€5,919 | +32.2% |
| Trade debts | 44 | €6,318 | €5,872 | -€447 | -7.1% |
| Suppliers | 440/4 | €6,318 | €5,872 | -€447 | -7.1% |
| Taxes, remuneration and social security | 45 | €10,523 | €17,791 | +€7,268 | +69.1% |
| Taxes | 450/3 | €10,523 | €17,791 | +€7,268 | +69.1% |
| Other amounts payable | 47/48 | €1,532 | €630 | -€902 | -58.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,162 | €2,555 | +€393 | +18.2% |
| Other operating charges | 640/8 | €992 | €1,169 | +€177 | +17.9% |
| Gross operating margin | 9900 | €47,881 | €61,321 | +€13,440 | +28.1% |
| Operating profit (loss) | 9901 | €44,727 | €57,596 | +€12,870 | +28.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -80.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -80.0% |
| Financial charges | 65/66B | €2,661 | €2,485 | -€176 | -6.6% |
| Recurring financial charges | 65 | €2,661 | €2,485 | -€176 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €42,066 | €55,112 | +€13,046 | +31.0% |
| Income taxes | 67/77 | €13,182 | €16,792 | +€3,610 | +27.4% |
| Profit (loss) for the period | 9904 | €28,884 | €38,319 | +€9,436 | +32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €28,884 | €38,319 | +€9,436 | +32.7% |
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 5 October 2026 via checked.be.