MARLUCO: what changed
What changed
MARLUCO
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€58,075
2024 · €58,207-€132
Equity
€2.3m
2024 · €2.2m+€58,075
Cash
€34,478
2024 · €28,710+€5,768
Balance sheet total
€2.3m
2024 · €2.2m+€75,814
Largest movements
Assets
- Receivables within one year +€59,669
up €59,669 (+14.7%), from €406,208 to €465,877
of which Other amounts receivable: +€46,569
Equity and liabilities
- Reserves +€58,000
up €58,000 (+3.9%), from €1.5m to €1.6m
Income statement
- Gross operating margin +€4,782
up €4,782 (+4.9%), from €97,948 to €102,730
- Taxes +€1,699
up €1,699 (+6.9%), from €24,569 to €26,267
- Depreciation +€1,684
up €1,684 (+14.1%), from €11,969 to €13,653
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€58,207
Gross operating margin
+€4,782
Depreciation
-€1,684
Other operating charges
-€766
Financial charges
-€765
Taxes
-€1,699
Result 2025
€58,075
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€11,615
Investment
-€25,620
Financing
+€19,774
Cash 2024
€28,710
From operations (derived)
+€11,615
Net result for the year
+€58,075
Depreciation
+€13,653
Receivables within one year
-€59,669
Deferred charges and accrued income
+€1,590
Trade debts
-€21
Tax, wage and social debts
+€2,032
Other debts
-€4,045
Investment (derived)
-€25,620
Investment in fixed assets (net)
-€25,620
Financing
+€19,774
Debts after one year
+€15,550
Current portion of long-term debt
+€4,224
Cash 2025
€34,478
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,235,909 | €2,311,723 | +€75,814 | +3.4% |
| Fixed assets | 21/28 | €1,797,290 | €1,809,256 | +€11,967 | +0.7% |
| Tangible fixed assets | 22/27 | €63,290 | €75,256 | +€11,967 | +18.9% |
| Land and buildings | 22 | €56,617 | €47,181 | -€9,436 | -16.7% |
| Plant, machinery and equipment | 23 | €2,454 | €1,858 | -€596 | -24.3% |
| Furniture and vehicles | 24 | €4,220 | €1,294 | -€2,925 | -69.3% |
| Leasing and similar rights | 25 | - | €24,924 | +€24,924 | |
| Financial fixed assets | 28 | €1,734,000 | €1,734,000 | = | 0.0% |
| Current assets | 29/58 | €438,619 | €502,467 | +€63,848 | +14.6% |
| Amounts receivable within one year | 40/41 | €406,208 | €465,877 | +€59,669 | +14.7% |
| Trade receivables | 40 | €350,734 | €363,834 | +€13,100 | +3.7% |
| Other amounts receivable | 41 | €55,474 | €102,043 | +€46,569 | +83.9% |
| Cash at bank and in hand | 54/58 | €28,710 | €34,478 | +€5,768 | +20.1% |
| Deferred charges and accrued income | 490/1 | €3,701 | €2,112 | -€1,590 | -42.9% |
| Total equity and liabilities | 10/49 | €2,235,909 | €2,311,723 | +€75,814 | +3.4% |
| Equity | 10/15 | €2,202,903 | €2,260,978 | +€58,075 | +2.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €689,731 | €689,731 | = | 0.0% |
| Reserves | 13 | €1,498,600 | €1,556,600 | +€58,000 | +3.9% |
| Distributable reserves | 133 | €1,498,600 | €1,556,600 | +€58,000 | +3.9% |
| Profit (loss) carried forward | 14 | €8,372 | €8,447 | +€75 | +0.9% |
| Amounts payable | 17/49 | €33,006 | €50,745 | +€17,739 | +53.7% |
| Amounts payable after more than one year | 17 | - | €15,550 | +€15,550 | |
| Financial debts | 170/4 | - | €15,550 | +€15,550 | |
| Amounts payable within one year | 42/48 | €33,006 | €35,196 | +€2,189 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | - | €4,224 | +€4,224 | |
| Trade debts | 44 | €2,501 | €2,480 | -€21 | -0.8% |
| Suppliers | 440/4 | €2,501 | €2,480 | -€21 | -0.8% |
| Taxes, remuneration and social security | 45 | €1,551 | €3,583 | +€2,032 | +131% |
| Taxes | 450/3 | €1,551 | €3,583 | +€2,032 | +131% |
| Other amounts payable | 47/48 | €28,954 | €24,908 | -€4,045 | -14.0% |
| Non-recurring operating income | 76A | €6,046 | €3,636 | -€2,410 | -39.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,969 | €13,653 | +€1,684 | +14.1% |
| Other operating charges | 640/8 | €2,661 | €3,427 | +€766 | +28.8% |
| Gross operating margin | 9900 | €97,948 | €102,730 | +€4,782 | +4.9% |
| Operating profit (loss) | 9901 | €83,317 | €85,649 | +€2,332 | +2.8% |
| Financial charges | 65/66B | €542 | €1,307 | +€765 | +141% |
| Recurring financial charges | 65 | €542 | €1,307 | +€765 | +141% |
| Profit (loss) for the period before taxes | 9903 | €82,776 | €84,342 | +€1,567 | +1.9% |
| Income taxes | 67/77 | €24,569 | €26,267 | +€1,699 | +6.9% |
| Profit (loss) for the period | 9904 | €58,207 | €58,075 | -€132 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,207 | €58,075 | -€132 | -0.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.