Maro: what changed
Two financial 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 -€14,245
down €14,245 (-3.8%), from €376,238 to €361,993
of which Leasing and similar rights: -€9,032
- Cash -€12,814
down €12,814 (-82.6%), from €15,514 to €2,701
mainly Debts after one year (-€23,892) and Trade debts (-€18,230)
- Debts after one year -€23,892
down €23,892 (-7.6%), from €312,888 to €288,996
of which Financial debts: -€23,892
- Trade debts -€18,230
down €18,230 (-91.1%), from €20,008 to €1,778
- Reserves +€13,758
up €13,758 (+56.6%), from €24,303 to €38,060
- Other debts +€10,512
up €10,512 (+92.2%), from €11,398 to €21,910
- Tax, wage and social debts -€6,357
down €6,357 (-63.4%), from €10,032 to €3,675
of which Taxes: -€6,357
- Depreciation -€20,666
down €20,666 (-47.9%), from €43,136 to €22,470
- Financial charges +€7,282
up €7,282 (+67.8%), from €10,746 to €18,028
- Taxes +€2,076
up €2,076 (+738.8%), from €281 to €2,357
- Gross operating margin +€1,651
up €1,651 (+2.8%), from €58,264 to €59,914
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €415,237 | €391,815 | -€23,423 | -5.6% |
| Fixed assets | 21/28 | €376,238 | €361,993 | -€14,245 | -3.8% |
| Tangible fixed assets | 22/27 | €376,238 | €361,993 | -€14,245 | -3.8% |
| Land and buildings | 22 | €331,329 | €323,044 | -€8,284 | -2.5% |
| Plant, machinery and equipment | 23 | €7,866 | €10,937 | +€3,071 | +39.0% |
| Leasing and similar rights | 25 | €37,043 | €28,011 | -€9,032 | -24.4% |
| Current assets | 29/58 | €38,999 | €29,822 | -€9,177 | -23.5% |
| Amounts receivable within one year | 40/41 | €22,618 | €24,479 | +€1,861 | +8.2% |
| Trade receivables | 40 | €13,889 | €10,967 | -€2,923 | -21.0% |
| Other amounts receivable | 41 | €8,728 | €13,512 | +€4,783 | +54.8% |
| Cash at bank and in hand | 54/58 | €15,514 | €2,701 | -€12,814 | -82.6% |
| Deferred charges and accrued income | 490/1 | €867 | €2,643 | +€1,776 | +204.8% |
| Total equity and liabilities | 10/49 | €415,237 | €391,815 | -€23,423 | -5.6% |
| Equity | 10/15 | €36,703 | €50,460 | +€13,758 | +37.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €24,303 | €38,060 | +€13,758 | +56.6% |
| Distributable reserves | 133 | €24,303 | €38,060 | +€13,758 | +56.6% |
| Amounts payable | 17/49 | €378,535 | €341,355 | -€37,180 | -9.8% |
| Amounts payable after more than one year | 17 | €312,888 | €288,996 | -€23,892 | -7.6% |
| Financial debts | 170/4 | €252,888 | €228,996 | -€23,892 | -9.4% |
| Other amounts payable | 178/9 | €60,000 | €60,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €65,647 | €52,358 | -€13,289 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €24,209 | €24,996 | +€787 | +3.3% |
| Trade debts | 44 | €20,008 | €1,778 | -€18,230 | -91.1% |
| Suppliers | 440/4 | €20,008 | €1,778 | -€18,230 | -91.1% |
| Taxes, remuneration and social security | 45 | €10,032 | €3,675 | -€6,357 | -63.4% |
| Taxes | 450/3 | €8,112 | €1,755 | -€6,357 | -78.4% |
| Remuneration and social security | 454/9 | €1,920 | €1,920 | = | 0.0% |
| Other amounts payable | 47/48 | €11,398 | €21,910 | +€10,512 | +92.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,136 | €22,470 | -€20,666 | -47.9% |
| Other operating charges | 640/8 | €2,983 | €3,302 | +€319 | +10.7% |
| Gross operating margin | 9900 | €58,264 | €59,914 | +€1,651 | +2.8% |
| Operating profit (loss) | 9901 | €12,144 | €34,142 | +€21,998 | +181.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €10,746 | €18,028 | +€7,282 | +67.8% |
| Recurring financial charges | 65 | €10,746 | €18,028 | +€7,282 | +67.8% |
| Profit (loss) for the period before taxes | 9903 | €1,399 | €16,114 | +€14,716 | +1052.2% |
| Income taxes | 67/77 | €281 | €2,357 | +€2,076 | +738.8% |
| Profit (loss) for the period | 9904 | €1,118 | €13,758 | +€12,640 | +1131.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,118 | €13,758 | +€12,640 | +1131.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.