MARO PROPERTIES: 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 PROPERTIES
Largest movements
- Cash +€825,663
up €825,663 (+235%), from €350,928 to €1.2m
mainly Net result for the year (+€462,765) and Tax, wage and social debts (+€168,458)
- Receivables within one year -€165,202
down €165,202 (-95.2%), from €173,560 to €8,357
of which Other amounts receivable: -€122,663
- Deferred charges and accrued income -€13,136
down €13,136 (-88.8%), from €14,785 to €1,650
- Reserves +€462,765
up €462,765 (+76.3%), from €606,740 to €1.1m
of which Distributable reserves: +€462,765
- Tax, wage and social debts +€168,458
up €168,458 (+10,778%), from €1,563 to €170,021
- Gross operating margin +€39,059
up €39,059 (+6.0%), from €648,346 to €687,405
- Taxes +€16,895
up €16,895 (+11.1%), from €151,563 to €168,458
- Financial income -€13,245
down €13,245 (-88.9%), from €14,895 to €1,650
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 | €667,149 | €1,301,974 | +€634,825 | +95.2% |
| Fixed assets | 21/28 | €127,877 | €115,377 | -€12,500 | -9.8% |
| Tangible fixed assets | 22/27 | €127,877 | €115,377 | -€12,500 | -9.8% |
| Land and buildings | 22 | €127,877 | €115,377 | -€12,500 | -9.8% |
| Current assets | 29/58 | €539,273 | €1,186,598 | +€647,325 | +120% |
| Amounts receivable within one year | 40/41 | €173,560 | €8,357 | -€165,202 | -95.2% |
| Trade receivables | 40 | €50,897 | €8,357 | -€42,539 | -83.6% |
| Other amounts receivable | 41 | €122,663 | €0 | -€122,663 | -100% |
| Cash at bank and in hand | 54/58 | €350,928 | €1,176,590 | +€825,663 | +235% |
| Deferred charges and accrued income | 490/1 | €14,785 | €1,650 | -€13,136 | -88.8% |
| Total equity and liabilities | 10/49 | €667,149 | €1,301,974 | +€634,825 | +95.2% |
| Equity | 10/15 | €612,890 | €1,075,655 | +€462,765 | +75.5% |
| Contributions | 10/11 | €6,150 | €6,150 | = | 0.0% |
| Reserves | 13 | €606,740 | €1,069,505 | +€462,765 | +76.3% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €604,885 | €1,067,650 | +€462,765 | +76.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €54,260 | €226,320 | +€172,060 | +317% |
| Amounts payable within one year | 42/48 | €3,363 | €171,921 | +€168,558 | +5,012% |
| Trade debts | 44 | €1,800 | €1,900 | +€100 | +5.6% |
| Suppliers | 440/4 | €1,800 | €1,900 | +€100 | +5.6% |
| Taxes, remuneration and social security | 45 | €1,563 | €170,021 | +€168,458 | +10,778% |
| Taxes | 450/3 | €1,563 | €170,021 | +€168,458 | +10,778% |
| Accrued charges and deferred income | 492/3 | €50,897 | €54,399 | +€3,502 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,500 | €12,500 | = | 0.0% |
| Other operating charges | 640/8 | €42,893 | €44,217 | +€1,324 | +3.1% |
| Gross operating margin | 9900 | €648,346 | €687,405 | +€39,059 | +6.0% |
| Operating profit (loss) | 9901 | €592,953 | €630,688 | +€37,735 | +6.4% |
| Financial income | 75/76B | €14,895 | €1,650 | -€13,245 | -88.9% |
| Recurring financial income | 75 | €14,895 | €1,650 | -€13,245 | -88.9% |
| Financial charges | 65/66B | €1,596 | €1,115 | -€481 | -30.2% |
| Recurring financial charges | 65 | €1,596 | €1,115 | -€481 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | €606,252 | €631,223 | +€24,971 | +4.1% |
| Income taxes | 67/77 | €151,563 | €168,458 | +€16,895 | +11.1% |
| Profit (loss) for the period | 9904 | €454,689 | €462,765 | +€8,076 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €454,689 | €462,765 | +€8,076 | +1.8% |
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 13 October 2026 via checked.be.