MaRo: 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.
MaRo
Largest movements
- Tangible fixed assets +€7,378
up €7,378 (+14.5%), from €50,818 to €58,196
of which Plant, machinery and equipment: +€7,378
- Receivables within one year +€4,024
up €4,024 (+4.5%), from €89,051 to €93,075
of which Other amounts receivable: +€28,024
- Trade debts +€6,320
up €6,320 (+105680.3%), from €6 to €6,326
- Profit (loss) carried forward +€3,717
up €3,717 (+13.7%), from €27,213 to €30,931
- Gross operating margin -€6,801
down €6,801 (-53.8%), from €12,650 to €5,849
- Taxes -€1,286
down €1,286 (-48.5%), from €2,650 to €1,364
- Financial income -€781
down €781 (-28.9%), from €2,701 to €1,920
- Depreciation +€638
up €638 (+544.8%), from €117 to €755
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €139,869 | €151,271 | +€11,401 | +8.2% |
| Fixed assets | 21/28 | €50,818 | €58,196 | +€7,378 | +14.5% |
| Tangible fixed assets | 22/27 | €50,818 | €58,196 | +€7,378 | +14.5% |
| Land and buildings | 22 | €50,818 | €50,818 | = | 0.0% |
| Plant, machinery and equipment | 23 | - | €7,378 | +€7,378 | |
| Current assets | 29/58 | €89,051 | €93,075 | +€4,024 | +4.5% |
| Amounts receivable within one year | 40/41 | €89,051 | €93,075 | +€4,024 | +4.5% |
| Trade receivables | 40 | €24,000 | - | -€24,000 | |
| Other amounts receivable | 41 | €65,051 | €93,075 | +€28,024 | +43.1% |
| Total equity and liabilities | 10/49 | €139,869 | €151,271 | +€11,401 | +8.2% |
| Equity | 10/15 | €137,213 | €140,931 | +€3,717 | +2.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,213 | €30,931 | +€3,717 | +13.7% |
| Amounts payable | 17/49 | €2,656 | €10,340 | +€7,684 | +289.3% |
| Amounts payable within one year | 42/48 | €2,656 | €10,340 | +€7,684 | +289.3% |
| Trade debts | 44 | €6 | €6,326 | +€6,320 | +105680.3% |
| Suppliers | 440/4 | €6 | €6,326 | +€6,320 | +105680.3% |
| Taxes, remuneration and social security | 45 | €2,650 | €4,014 | +€1,364 | +51.5% |
| Taxes | 450/3 | €2,650 | €4,014 | +€1,364 | +51.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117 | €755 | +€638 | +544.8% |
| Other operating charges | 640/8 | €1,629 | €1,676 | +€48 | +2.9% |
| Gross operating margin | 9900 | €12,650 | €5,849 | -€6,801 | -53.8% |
| Operating profit (loss) | 9901 | €10,905 | €3,418 | -€7,487 | -68.7% |
| Financial income | 75/76B | €2,701 | €1,920 | -€781 | -28.9% |
| Recurring financial income | 75 | €2,701 | €1,920 | -€781 | -28.9% |
| Financial charges | 65/66B | €242 | €256 | +€14 | +5.8% |
| Recurring financial charges | 65 | €242 | €256 | +€14 | +5.8% |
| Profit (loss) for the period before taxes | 9903 | €13,364 | €5,082 | -€8,282 | -62.0% |
| Income taxes | 67/77 | €2,650 | €1,364 | -€1,286 | -48.5% |
| Profit (loss) for the period | 9904 | €10,714 | €3,717 | -€6,996 | -65.3% |
| Profit (loss) for the period to be appropriated | 9905 | €10,714 | €3,717 | -€6,996 | -65.3% |
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.