Maro Estate: 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 Estate
Largest movements
- Tangible fixed assets -€113,386
down €113,386 (-8.1%), from €1.4m to €1.3m
of which Land and buildings: -€99,623
- Receivables after one year +€49,875
up €49,875 (+22.3%), from €223,625 to €273,500
- Trade debts -€148,613
down €148,613 (-92.5%), from €160,747 to €12,134
- Other debts +€94,309
up €94,309 (+314,364%), from €30 to €94,339
- Profit (loss) carried forward -€78,960
down €78,960 (-11.9%), from €662,575 to €583,615
- Short-term financial debts +€69,500
up €69,500 (+8.0%), from €867,500 to €937,000
- Tax, wage and social debts +€29,182
up €29,182 (+16.0%), from €182,441 to €211,623
of which Taxes: +€28,417
- Gross operating margin -€379,476
down €379,476 (-56.5%), from €672,145 to €292,669
- Taxes -€89,195
down €89,195 (-68.6%), from €130,108 to €40,913
- Depreciation +€12,704
up €12,704 (+34.7%), from €36,654 to €49,358
- Other operating charges -€12,239
down €12,239 (-73.3%), from €16,695 to €4,456
- Financial income +€10,152
up €10,152 (+246%), from €4,124 to €14,276
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.
Derived cash bridge
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 | €2,160,480 | €2,109,298 | -€51,182 | -2.4% |
| Fixed assets | 21/28 | €1,400,931 | €1,287,545 | -€113,386 | -8.1% |
| Tangible fixed assets | 22/27 | €1,400,931 | €1,287,545 | -€113,386 | -8.1% |
| Land and buildings | 22 | €1,350,051 | €1,250,428 | -€99,623 | -7.4% |
| Plant, machinery and equipment | 23 | €1,016 | €373 | -€644 | -63.3% |
| Furniture and vehicles | 24 | €49,864 | €36,745 | -€13,119 | -26.3% |
| Current assets | 29/58 | €759,549 | €821,753 | +€62,204 | +8.2% |
| Amounts receivable after more than one year | 29 | €223,625 | €273,500 | +€49,875 | +22.3% |
| Other amounts receivable | 291 | €223,625 | €273,500 | +€49,875 | +22.3% |
| Amounts receivable within one year | 40/41 | €83,585 | €71,670 | -€11,915 | -14.3% |
| Trade receivables | 40 | €15,584 | €21,545 | +€5,961 | +38.3% |
| Other amounts receivable | 41 | €68,001 | €50,125 | -€17,876 | -26.3% |
| Current investments | 50/53 | €49,140 | €53,661 | +€4,521 | +9.2% |
| Cash at bank and in hand | 54/58 | €390,492 | €404,761 | +€14,269 | +3.7% |
| Deferred charges and accrued income | 490/1 | €12,708 | €18,162 | +€5,454 | +42.9% |
| Total equity and liabilities | 10/49 | €2,160,480 | €2,109,298 | -€51,182 | -2.4% |
| Equity | 10/15 | €667,575 | €588,615 | -€78,960 | -11.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €662,575 | €583,615 | -€78,960 | -11.9% |
| Amounts payable | 17/49 | €1,492,905 | €1,520,683 | +€27,778 | +1.9% |
| Amounts payable after more than one year | 17 | €263,438 | €246,537 | -€16,901 | -6.4% |
| Financial debts | 170/4 | €263,438 | €246,537 | -€16,901 | -6.4% |
| Amounts payable within one year | 42/48 | €1,226,909 | €1,271,997 | +€45,088 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €16,191 | €16,901 | +€710 | +4.4% |
| Financial debts | 43 | €867,500 | €937,000 | +€69,500 | +8.0% |
| Credit institutions | 430/8 | €867,500 | €937,000 | +€69,500 | +8.0% |
| Trade debts | 44 | €160,747 | €12,134 | -€148,613 | -92.5% |
| Suppliers | 440/4 | €160,747 | €12,134 | -€148,613 | -92.5% |
| Taxes, remuneration and social security | 45 | €182,441 | €211,623 | +€29,182 | +16.0% |
| Taxes | 450/3 | €176,997 | €205,414 | +€28,417 | +16.1% |
| Remuneration and social security | 454/9 | €5,443 | €6,209 | +€765 | +14.1% |
| Other amounts payable | 47/48 | €30 | €94,339 | +€94,309 | +314,364% |
| Accrued charges and deferred income | 492/3 | €2,558 | €2,149 | -€409 | -16.0% |
| Non-recurring operating income | 76A | €604 | €29,130 | +€28,525 | +4,722% |
| Remuneration, social security and pensions | 62 | €42,918 | €35,123 | -€7,794 | -18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,654 | €49,358 | +€12,704 | +34.7% |
| Other operating charges | 640/8 | €16,695 | €4,456 | -€12,239 | -73.3% |
| Gross operating margin | 9900 | €672,145 | €292,669 | -€379,476 | -56.5% |
| Operating profit (loss) | 9901 | €575,879 | €203,733 | -€372,146 | -64.6% |
| Financial income | 75/76B | €4,124 | €14,276 | +€10,152 | +246% |
| Recurring financial income | 75 | €4,124 | €14,276 | +€10,152 | +246% |
| Financial charges | 65/66B | €52,659 | €48,356 | -€4,304 | -8.2% |
| Recurring financial charges | 65 | €52,659 | €48,356 | -€4,304 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €527,344 | €169,653 | -€357,691 | -67.8% |
| Income taxes | 67/77 | €130,108 | €40,913 | -€89,195 | -68.6% |
| Profit (loss) for the period | 9904 | €397,236 | €128,740 | -€268,496 | -67.6% |
| Profit (loss) for the period to be appropriated | 9905 | €397,236 | €128,740 | -€268,496 | -67.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.