MARLUC: 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.
MARLUC
Largest movements
- Cash +€234,130
up €234,130 (+2443.9%), from €9,580 to €243,710
mainly Depreciation (+€122,712) and Investment in fixed assets (net) (+€95,033)
- Tangible fixed assets -€217,745
down €217,745 (-11.2%), from €1.9m to €1.7m
of which Land and buildings: -€268,877
- Profit (loss) carried forward +€71,067
up €71,067 (+12.3%), from -€575,498 to -€504,431
- Debts after one year -€57,507
down €57,507 (-18.4%), from €312,451 to €254,944
- Other debts +€27,807
up €27,807 (+6.0%), from €464,886 to €492,693
- Reserves -€25,940
down €25,940 (-2.9%), from €908,609 to €882,669
of which Tax-exempt reserves: -€25,940
- Gross operating margin +€161,209
up €161,209 (+333.8%), from €48,301 to €209,510
- Taxes +€11,019
up €11,019 (+1978.3%), from €557 to €11,576
- Financial charges -€7,204
down €7,204 (-19.6%), from €36,813 to €29,609
- Depreciation -€6,431
down €6,431 (-5.0%), from €129,143 to €122,712
- Financial income +€3,948
up €3,948 (+16450.0%), from €24 to €3,972
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 | €1,949,114 | €1,965,499 | +€16,385 | +0.8% |
| Fixed assets | 21/28 | €1,939,534 | €1,721,789 | -€217,745 | -11.2% |
| Tangible fixed assets | 22/27 | €1,939,254 | €1,721,509 | -€217,745 | -11.2% |
| Land and buildings | 22 | €1,938,615 | €1,669,738 | -€268,877 | -13.9% |
| Furniture and vehicles | 24 | €639 | €51,771 | +€51,132 | +8001.9% |
| Financial fixed assets | 28 | €280 | €280 | = | 0.0% |
| Current assets | 29/58 | €9,580 | €243,710 | +€234,130 | +2443.9% |
| Cash at bank and in hand | 54/58 | €9,580 | €243,710 | +€234,130 | +2443.9% |
| Total equity and liabilities | 10/49 | €1,949,114 | €1,965,499 | +€16,385 | +0.8% |
| Equity | 10/15 | €817,743 | €862,870 | +€45,127 | +5.5% |
| Contributions | 10/11 | €484,632 | €484,632 | = | 0.0% |
| Capital | 10 | €484,632 | €484,632 | = | 0.0% |
| Issued capital | 100 | €484,632 | €484,632 | = | 0.0% |
| Reserves | 13 | €908,609 | €882,669 | -€25,940 | -2.9% |
| Non-distributable reserves | 130/1 | €6,503 | €6,503 | = | 0.0% |
| Legal reserve | 130 | €6,503 | €6,503 | = | 0.0% |
| Tax-exempt reserves | 132 | €885,578 | €859,638 | -€25,940 | -2.9% |
| Distributable reserves | 133 | €16,528 | €16,528 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€575,498 | -€504,431 | +€71,067 | +12.3% |
| Provisions and deferred taxes | 16 | €295,193 | €286,546 | -€8,647 | -2.9% |
| Deferred taxes | 168 | €295,193 | €286,546 | -€8,647 | -2.9% |
| Amounts payable | 17/49 | €836,178 | €816,083 | -€20,095 | -2.4% |
| Amounts payable after more than one year | 17 | €312,451 | €254,944 | -€57,507 | -18.4% |
| Financial debts | 170/4 | €312,451 | €254,944 | -€57,507 | -18.4% |
| Amounts payable within one year | 42/48 | €523,727 | €561,139 | +€37,412 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €55,192 | €57,527 | +€2,335 | +4.2% |
| Trade debts | 44 | €3,099 | €534 | -€2,565 | -82.8% |
| Suppliers | 440/4 | €3,099 | €534 | -€2,565 | -82.8% |
| Taxes, remuneration and social security | 45 | €550 | €10,385 | +€9,835 | +1788.2% |
| Taxes | 450/3 | €550 | €10,385 | +€9,835 | +1788.2% |
| Other amounts payable | 47/48 | €464,886 | €492,693 | +€27,807 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129,143 | €122,712 | -€6,431 | -5.0% |
| Other operating charges | 640/8 | €12,407 | €13,105 | +€698 | +5.6% |
| Gross operating margin | 9900 | €48,301 | €209,510 | +€161,209 | +333.8% |
| Operating profit (loss) | 9901 | -€93,249 | €73,693 | +€166,942 | |
| Financial income | 75/76B | €24 | €3,972 | +€3,948 | +16450.0% |
| Recurring financial income | 75 | €24 | €3,972 | +€3,948 | +16450.0% |
| Financial charges | 65/66B | €36,813 | €29,609 | -€7,204 | -19.6% |
| Recurring financial charges | 65 | €36,813 | €29,609 | -€7,204 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | -€130,038 | €48,056 | +€178,094 | |
| Transfer from deferred taxes | 780 | €30,730 | €54,984 | +€24,254 | +78.9% |
| Transfer to deferred taxes | 680 | - | €139,011 | +€139,011 | |
| Income taxes | 67/77 | €557 | €11,576 | +€11,019 | +1978.3% |
| Profit (loss) for the period | 9904 | -€99,865 | -€47,547 | +€52,318 | +52.4% |
| Transfer from tax-exempt reserves | 789 | €92,191 | €164,951 | +€72,760 | +78.9% |
| Transfer to tax-exempt reserves | 689 | - | €46,337 | +€46,337 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,674 | €71,067 | +€78,741 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.